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Subject: BTL - here have a zillion pounds to spend

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NaeChanceOfBuying

Concerned Citizen

Posts:60

21/03/2006 12:11 AM	Alert
Whilst I'm on the soapbox about credit regulation, can anyone else believe that news about Nationwide _increasing_ the amount of money it will end to BTL landlords... http://money.guardian.co.uk/businessnews/story/0,,-1717507,00.html Whereas previously Nationwide allowed a landlord just two buy-to-let mortgages, now it will give them up to 10 each. And don't worry about the size of the loan - they're quite happy to lend a landlord up to £3m. Shocking... talk about putting gasoline on the metaphorical fire eh! This is what happens when you deregulate credit. Commercial pressures force them into taking more and more risk which works for them until things get bad.

CantLiveInAGarage

First Timer

Posts:10

22/03/2006 7:37 AM	Alert
It's amazing how the government have stood off whilst this is going on. Who on earth thought loosening credit was a good idea anyway...?

Fingers Crossed

First Timer

Posts:2

22/03/2006 8:10 AM	Alert
It's amazing how the government have stood off whilst this is going on. Who on earth thought loosening credit was a good idea anyway...? Someone trying to prop up failing economy...?

CantLiveInAGarage

First Timer

Posts:10

22/03/2006 8:46 AM	Alert
Ah yeah well there is that... Surely they can't have thought it would last though, what's the plan for when it all runs out!!!

frugalista
Volunteers

Concerned Citizen

Posts:64

22/03/2006 8:46 PM	Alert
That would be M. Thatcher and co. The deregulation went even further under Major and has basically been left as is by Blair. It was either a slavish ideological move "market good, regulation bad". Or caving in to pressure from the City of London bankers who make ever greater amounts of filthy profits from the huge mountain of UK mortgage debt. frugalista

CantLiveInAGarage

First Timer

Posts:10

23/03/2006 3:22 PM	Alert
The same lack of regulation which led to the endowment and pension mis-selling scandals per chance! Question is did Blair and co think best left alone, or were they so far in bed with Big Mortgage they just didn't give a damn.

QuinnDexter

Concerned Citizen

Posts:31

20/06/2006 8:58 AM	Alert
What will happen is all of these building soc's and banks, who have lent out billions and billions, will be up against the wall when the S**T hits the fan and then they will be crying to the government to help them from collapse.

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