New Bank of England safeguards ‘will force lenders to raise mortgage costs’ | Mail On

[Legal Beagles]

Lloyds has slashed the amount it will lend to homebuyers through the Help to Buy Scheme by 70 per cent in a move that could drastically cut the options available to first-time buyers. It will now only accept applications for loans up to £150,000 – down from the previous limit of £500,000. The limit will […]

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[PAWS]

Re: New Bank of England safeguards ‘will force lenders to raise mortgage costs’ | Mai

Help to Buy allows aspiring homeowners with a five per cent deposit to borrow a further 20 per cent from the government

initially interest free.

The average house price in the UK is proximately £170K. Average Salary is £26.5K- how out of touch are these people. The average wage earner would have to squirrel away almost £90k to put down before they could buy a house as they would never qualify for a £150k mortgage.:der:
Em, Initially interest free.Just when your mortgage repayments start to pinch they wade in adding interest to the £20k.:faint2:

[PAWS]

Re: New Bank of England safeguards ‘will force lenders to raise mortgage costs’ | Mai

Millions of working families in the UK could not pay their rent or mortgage for more than a month if they lost their job, according to new figures from Shelter.


Every 11 minutes, a family in Britain loses their home

I wonder how many of these repos were carried out legally and how many were the result of debtors either giving up or not having access to legal info.




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