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Me 'ouse is me pension

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    Me 'ouse is me pension

    UK mortgage approvals slump as Covid-19 hits housing market - business live | Business | The Guardian

    Just in: The number of new mortgages approved in the UK has slumped again, as the Covid-19 pandemic continues to grip the economy.

    The Bank of England has reported that the number of mortgage approvals for house purchase fell to just 9,300 in May, down from around 15,800 in April.

    This is almost 90% below the February level, and around a third of their trough during the financial crisis in 2008.

    This is the lowest level since comparable records began (in 1997), the Bank adds. Economists had expected an increase, to around 25,000 new mortgage approvals.

    #2
    who'd buy a house in Swindon anyway??

    Comment


      #3
      Lenders not wanting to lend money to people who are on furlough and potentially at risk of redundancy shocker?
      The greatest trick the devil ever pulled was convincing the world that he didn't exist

      Comment


        #4
        Originally posted by BR14 View Post
        who'd buy a house in Swindon anyway??
        Exactly, don't buy a house in Swindon, buy lots....

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          #5
          Originally posted by LondonManc View Post
          Lenders not wanting to lend money to people who are on furlough and potentially at risk of redundancy shocker?
          Credit Crunch

          Comment


            #6
            Not surprising really with unemployment already nearly 3 million, and 9 million furloughed workers.

            I wonder if you can get a mortgage if you're furloughed...
            Scoots still says that Apr 2020 didn't mark the start of a new stock bull market.

            Comment


              #7
              Mortgage is an outdated pre-Covid notion - why “buy” (get in debt for 30+ years) house when you can rent without paying and landlords can’t evict you?

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                #8
                Originally posted by DealorNoDeal View Post
                I wonder if you can get a mortgage if you're furloughed...
                It’s possible - with 110% deposit

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                  #9
                  I'm looking to buy a house pretty soon; I have done a virtual viewing already. My mortgage broker said there shouldn't be any issue as I'd have a deposit in the 15-20% region. Having said that, I don't even have an agreement in principle yet so everything is still in doubt. I'll let you know if banks give mortgages to contractors in these challenging times...

                  Comment


                    #10
                    Originally posted by PCTNN View Post
                    I'm looking to buy a house pretty soon; I have done a virtual viewing already. My mortgage broker said there shouldn't be any issue as I'd have a deposit in the 15-20% region. Having said that, I don't even have an agreement in principle yet so everything is still in doubt. I'll let you know if banks give mortgages to contractors in these challenging times...
                    Are you using a contractor specialist broker?

                    Comment

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