QFT.
Unfortunately I'm one of those people. I originally thought I was better placed then others to get a mortgage as I have a decent lump sum saved. But it's not 20% of the property value, so I'm still no closer, despite falling prices.
I
irishlinks
Guest
I see that Haven Mortgages (Part of EBS) have also withdrawn 100% mortgages too and are restricting 95% mortgages to "professionals" . Otherwise max is 92%. EBS will probably follow on soon?
S
slinky
Guest
Sorry to keep harping on about this... but there will be at least 3 other banks doing this in the next 2 weeks.
After which revelations about banking debt will be made public.
After which revelations about banking debt will be made public.
Know a guy well involved in banking and he said a while back that some smaller banks could be in serious financial difficulty later this year.
LDFerguson
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Is this your personal opinion or do you have any information to back it?
LDFerguson
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QFT.
Unfortunately I'm one of those people. I originally thought I was better placed then others to get a mortgage as I have a decent lump sum saved. But it's not 20% of the property value, so I'm still no closer, despite falling prices.
Plenty of lenders still offering 90% and 92%.
CreditCrunch
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I was listening to the radio on the way home from work today.
There was a feature on the withdrawl of 100% Mortgages.
The station was Newstalk 106, the George Hook show.
Apparently there is a new Economic report out, written by a guy who lives in Paris saying that everything is fine.
Personally I find it hard to understand how someone living in Paris has an in depth understanding of what's happening on the ground over here.
All I know is that Jobs are being lost in high numbers by the day.
Many of the guys I know in sales ( Ea's and Car Salespeople ) are finally getting to see what a P45 looks like. It will be tough for those guys, having to que up for the scratch with all the skills and education that they have.
Now I know why all the big EA's sold up two years ago, and the banks too.
Remember AIB selling up the head office?
The jigsaw puzzle is starting to fall into place here.
Go back to sleep Ireland, The Gubberment has figured it all out for you.........................
There was a feature on the withdrawl of 100% Mortgages.
The station was Newstalk 106, the George Hook show.
Apparently there is a new Economic report out, written by a guy who lives in Paris saying that everything is fine.
Personally I find it hard to understand how someone living in Paris has an in depth understanding of what's happening on the ground over here.
All I know is that Jobs are being lost in high numbers by the day.
Many of the guys I know in sales ( Ea's and Car Salespeople ) are finally getting to see what a P45 looks like. It will be tough for those guys, having to que up for the scratch with all the skills and education that they have.
Now I know why all the big EA's sold up two years ago, and the banks too.
Remember AIB selling up the head office?
The jigsaw puzzle is starting to fall into place here.
Go back to sleep Ireland, The Gubberment has figured it all out for you.........................
Has anyone heard anything about Halifax? (also part of the RBS Group), we are in the process of taking out a 94% tracker at ECB +1.1 with them.
We signed the mortgage offer pack over 2 weeks ago, the solicitor never sent it in. I called him today and asked to send it ASAP. Im starting to get worried that we might be stung paying a higher margin and/or not getting the funds we require.
Once they recieve this from our solicitor (hopefully in the morning!) can we be sure that the terms in the offer wont change?
We signed the mortgage offer pack over 2 weeks ago, the solicitor never sent it in. I called him today and asked to send it ASAP. Im starting to get worried that we might be stung paying a higher margin and/or not getting the funds we require.
Once they recieve this from our solicitor (hopefully in the morning!) can we be sure that the terms in the offer wont change?
S
slinky
Guest
no you wont be sure unfortunately. The bank can always rejected it.
Halifax are HBOS (Halifax Bank of Scotland) it is not associated with Royal Bank of Scotland group which own NatWest and Ulster Bank along with RBS plc.
No, no, no. This had nothing to do with them seeing the writing on the wall and trying to squeeze the last few pennies out of their gullible celtic tiger brethern. They were 'releasing capital', or 'releasing equity' or some such. Ha
LDFerguson
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Again - Is this your personal opinion or do you have any information to back it?
QFT.
Unfortunately I'm one of those people. I originally thought I was better placed then others to get a mortgage as I have a decent lump sum saved. But it's not 20% of the property value, so I'm still no closer, despite falling prices.
I'm in the same situation but I think it is a good thing. It means less competition for houses and you know what that means. As you save your lump sum is getting bigger in real and nominal terms. You might be waiting a short while longer but in the end you will be in alot less debt.
S
slinky
Guest
LD, This is my personal opinion based on my contacts, my economics background, my work in the Financial Services Industry and my current role as Project Manager.
An enlightened opinion.
Banks in the next 2 weeks will seek to raise capital through various schemes while trying to play down the extent of their cash reserve depletions.
An enlightened opinion.
Banks in the next 2 weeks will seek to raise capital through various schemes while trying to play down the extent of their cash reserve depletions.
I
irishlinks
Guest
I know RBS are nothing to do with BOS - but they announced something today about raising extra funds from releasing more shares . "No panic" they said.....
C
Camry
Guest
RBS are talking of a substantial rights issue to replenish their capital.
Another reason why Ulster and First Active might well tighten lending conditions significantly and raise rates quite soon. They just can't handle any growth in their business at the moment - they have to stop growiung and repair their balance sheet. They are not alone and the main Irish lenders are likely to be moving in this direction also.
S
slinky
Guest
oops quicker than I forecast.