HSBC says house crash is over.

[DimPrawn]

http://www.dailymail.co.uk/news/arti...-90-loans.html

Britain's biggest bank has promised to lend an extra £500million to homebuyers applying for 90 per cent mortgages.

HSBC has made the pledge after declaring that the housing crash is finally over.

The move is expected to end a desperate shortage of this type of high loan-to-value mortgage.



Boomed!


Pile in chaps!

[minestrone]

Strange when the headling says "'Housing crash is over' declares HSBC" nobody from HSBC actually says "Housing crash is over".

[Muttley08]

500 million...

If I've got my sums right...average house price about 250k...which means they'll provide 10,000 mortgages (maximum - in reality, very little happening at the bottom end of the market)...average number of mortgages atm is 30,000 a month in the UK...sounds a bit like urinating in the wind to me...

[Spacecadet]

HSBC was always one of the more prudant lenders.
90% LTV max and demanded a squeeky clean credit record

[TimberWolf]

The crash isn't officially over until liar loans are back.

[Menelaus]

HSBC are wrong, and missing out on / ignoring the fundamentals.

The length of this dip (e.g., upswing) in the midsts of the recession means that the second part of the W will be longer and more severe.