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Good start for lloyds its up 1.13%
Lenders pay a small premium to the government for the guarantee, last time was 0.9% of amount borrowed
Cant’ wait to see the bill for this lot... we are all going to pay :/
news, "Darth Trader: LoL - is that what the Times said? Rather out of character if so about the mother of...bubbles and ne clar. The Times never express themselves in such sensationalist lingo."
lol, i never stated they did, i referred to your link, i read that in The Times...
DYOR
if Govt are going to go "All In" then do so with infrastructure, it's not like the UK does not need it.....
You would think this would be the priority, this country needs unity and a massive upgrade, from new green deals to local, national infrastructure projects , the list is endless......can't even get cycle lanes right !
DYOR
No, from what I read probably from the FT which is later than the BBC news, there could be a premium factored into the mortgage. Quite common in the industry due to the risk.
Govt guarantee.
If one reads the FT etc,there have been past examples especially during a time of crisis eg this time it is COVID-19.
However, from the actual results from the past, there is no great call-up of these guarantees.
Without infusing confidence in the market, it is hard for a recovery to take root.
Darth Trader: LoL - is that what the Times said? Rather out of character if so about the mother of...bubbles and ne clar. The Times never express themselves in such sensationalist lingo.
If you read it, could you kindly share? Thanks.
This will be the muther of all bubbles..
and you'll be there in the aftermath hoovering up stock for 20% of the original value?
When you see the words "Government guarantees" it makes me nervous. Lenders set risk tolerance, It's got fck all to do with government.
It's code for all is not well.
news, yes read it in The Times...
This will be the muther of all bubbles...and when it pops the shockwaves will be nuclear....
DYOR
Darth Trader,
Wait till tomorrow*s announcement. From all that I have seen, there is no insurance proposed currently.
"LOAN GUARANTEES AT A TIME OF CRISIS IS A GIFT THAT KEEPS GIVING."-The Times, 19 hrs ago, Tues, 2 Mar 2021
"As in the financial crisis, the availability of mortgages for buyers with small deposits has DRIED up because LENDERS dont want the RISK."
[Cant read the rest as its on subscription. Just type up the title to read. Its helps the banks and the house-builders at this time including the buyers. Since the stock market is CLOSED, it will all be CLEAR when the Chancellor makes the announcement tomorrow.]
And they still wheel him out to give an opinion,ah well the show must go on,can't break the system up,bring on the clowns.
i'm thinking Sunak had one jab too many....
DYOR
..and no Gold to sell.
DYOR
It's all right sunak having all these fancy ideas,BUT if the big institute's don't like them and abandon any investment ideas in lloyds,then it's bang crash wallop,go back to start and don't pass go,so they had better be good.his reputation is now up front on this,but be fair unlike brown he not had 10yrs of growth to destroy.
Tomorrow*s UK Budget 2021, Wed 3 Mar 2021
"Chancellor Rishi Sunak expected to announce govt-back mortgages with deposits of just 5%.
The GOVT is set to GUARANTEE the loans, ENABLING LENDERS TO offer mortages worth 95% of the purchase price on properties worth up to £600,000.
"It is understood that the loans will be available to CURRENT HOME OWNERS as well as FIRST TIME BUYERS...."
So, Wed, 3 Mar 2021 - Have to listen to Chancellor*s announcement tomorrow to CONFIRM?
Daily Mail, 1 Mar 2021
https://www.thisismoney.co.uk/money/mortgages/article-9312343/How-government-backed-5-deposit-mortgage-work.html
Evening WCB, lol,
Darth...
Good Everything DT. Good to see they are offering apprenticeships for horse whisperers, but what are they offering for donkey owners(and don’t say 40p lol)
..What we know so far about Sunak's spending plans..
1. Money to help locals 'buy their boozer'
2. Free 'MBA style' management training for firms
3. Cash for cricket and football
4. £400m for the arts
5. Support to help businesses reopen
6. More money for vaccinations
7. Bringing back 95% mortgages
8. An 'elite' visa for high-skilled workers
9. A £126m boost for traineeships
10. Apprenticeships for horse whisperers
https://www.bbc.co.uk/news/business-56250985
DYOR