Boring Mortgage Finance but interesting news.

[Uncle Spielberg]

Bank of China enter UK mortgage market | Coreco Group

The Bank of China have entered the UK mortgage market. In a bold broadside against the UK High Street Bank cartel whereby 4 Banks are presently granting 90% of mortgage finance the Bank of China have entered the UK Mortgage Market.

The 3rd largest Bank in the World have decided now is the time to enter and correct the mortgage drought in the UK.

This is a good sign. Boosted by the Nationwide Building Society's house price index this week showing a 3rd month in a row of positive house price rises and predictions house prices will end up higher at the end of the year than the start the corner has been turned.

The Mortgage market has died in the last 2 years falling from 200 active lenders competiting to offer the best rates to less than 10 offering finance.

This will kickstart the mortgage market and house sales and I predict lenders will get their fingers out of the backsides by the Autumn and start to offer finance at 90% loan to value with reasonable rates.

With the new World Order being controlled by China and the Asian markets not to mention the rampant growth in places like Inida the USA, UK and Europe are now busted flushes.

The future order will be dictated to by China with the USA cow cowing to their superior management and wealth built on acutal assets and real wealth rather than credit and debt.

RED ARMY.

 

[Stoo82]

and this is why nobody misses you when you're gone.

 

[Uncle Spielberg]

Harsh but fair

Mortgages are the most interesting topic in the World arn't they ?.

 

[Chicken Runner61]

Be careful what you wish for US. In order to compete British funds may become more desperate leading to greater risk taking and more vunerable insitutions.

Besides getting a mortage needs employment and jobs are going to become scarce in the next few months

 

[Uncle Spielberg]

No everything will be Hunky Dory from now on mate.

 

[Shinbreath]

Hang on a minute Unc... Does this actually mean that we could be turning a corner...

No seriously...

Funnily enough, I'm just watching the news and they going on about the economic downturn and how hard its hitting certain areas... But with this news, this could be the point where everything starts looking up.

Is this the news we have all been waiting for ?

I'm very interested in stuff like this...

 

[Uncle Spielberg]

Its a good sign. I have seen 18 months of doom and gloom but feel the corner has been turned.

 

[Stoo82]

I do think it will get worse yet. After the election when a new lot get in, whoever that is, they will have to cut cut cut and raise taxes. This will make it more likly that many more jobs will be lost. Privete and puplic job losses will make it harder for people to pay their mortgage.

There will be a 2nd wave of ressestion and i think you would be wise to prepare for it. Just my 2 pennies.

 

[Uncle Spielberg]

Its Sunny days ahead. Mark my words. When Super David Cameron gets in next May its Ginger Beer and Happy Days from then on.

 

[Shinbreath]

Just as long as people are able to borrow money to extend their homes, be it a loft conversion or extension, the building trade will be ok at least... The lack of lending has helped slow everything down as much as generally rising unemployment.. I know people that have secure jobs but cannot raise capital to carry out home improvements...

 

[simonsimon]

US, Are you a paid up member of the Bullingdon Club or just a working class idiot hoping for the impossible?

 

[Uncle Spielberg]

Both.

 

[Chicken Runner61]

Its Sunny days ahead. Mark my words. When Super David Cameron gets in next May its Ginger Beer and Happy Days from then on.

New Labour - same old tories

New Tories = New Labour.

We need a new party that understands whats important to have a good life in the Uk, we don't need another out of touch donkey that turns the knobs back to the crap setting we had before the donkey we have now turned them to the crap setting we have now.

 

[Lush]

Why do we need a party system anyway? Why can't we just elect the best people and have committees? *politicallynaive*

 

[Stoo82]

Why do we need a party system anyway? Why can't we just elect the best people and have committees? *politicallynaive*

I just the way it has developed.

Also we do 'elect the best people' - you are ment to vote for the best MP in your area not for a party.

But it does need some sorting out i agree, but it is almost imposible becasue noone will agree on anything. Plus, the party that implament the 'new rules' will most likly get labled as being biased.

 

[Hiney]

Bank of China enter UK mortgage market | Coreco Group

The Bank of China have entered the UK mortgage market. In a bold broadside against the UK High Street Bank cartel whereby 4 Banks are presently granting 90% of mortgage finance the Bank of China have entered the UK Mortgage Market.

The 3rd largest Bank in the World have decided now is the time to enter and correct the mortgage drought in the UK.

This is a good sign. Boosted by the Nationwide Building Society's house price index this week showing a 3rd month in a row of positive house price rises and predictions house prices will end up higher at the end of the year than the start the corner has been turned.

The Mortgage market has died in the last 2 years falling from 200 active lenders competiting to offer the best rates to less than 10 offering finance.

This will kickstart the mortgage market and house sales and I predict lenders will get their fingers out of the backsides by the Autumn and start to offer finance at 90% loan to value with reasonable rates.

With the new World Order being controlled by China and the Asian markets not to mention the rampant growth in places like Inida the USA, UK and Europe are now busted flushes.

The future order will be dictated to by China with the USA cow cowing to their superior management and wealth built on acutal assets and real wealth rather than credit and debt.

RED ARMY.

Have you actually tried to get a mortgage approved by them?

They will only consider lending if you can satisfy their STRICT criteria, including attending a compulsory interview at a Bank of China branch

 

[Lord Bracknell]

This is a good sign. Boosted by the Nationwide Building Society's house price index this week showing a 3rd month in a row of positive house price rises and predictions house prices will end up higher at the end of the year than the start the corner has been turned.

Not good news at all for the millions who were priced out of the housing market by idiotic price rises fuelled by stupid lending.

If the Bank of China are going to flood the market with more money, this can only mean a return to the disastrous state of over-inflated house prices that we were suffering from four or five years ago.

Hiney's information - to the effect that they might only be interested in lending to folk who can satisfy STRICT criteria (presumably to do with ability to sustain the loan over time) - might be slightly more encouraging.

 

[Lord Bracknell]

Incidentally ... is this decision by the Bank of China to play around in the UK mortgage market anything to do with the fact that the Royal Bank of Scotland is its second largest shareholder?

Is this simply a way for the largely publicly owned and heavily regulated RBS to get involved in lending activities that are less regulated by the UK Treasury?

 

[desprateseagull]

and where exactly is all the cash gonna come from?

their olympics cost a few bob, and i bet that wont be paid for for a while yet..

 

[ridda]

Biggest load of bollocks i have ever read,