{"id":94379,"date":"2018-07-21T13:00:28","date_gmt":"2018-07-21T06:00:28","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-monster-mortgage-is-back-is-it-a-risk\/"},"modified":"2018-07-21T13:03:05","modified_gmt":"2018-07-21T06:03:05","slug":"the-monster-mortgage-is-back-is-it-a-risk","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-monster-mortgage-is-back-is-it-a-risk\/","title":{"rendered":"The \u2018monster\u2019 mortgage is back \u2013 is it a risk?"},"content":{"rendered":"


\nA leading bank has begun offering first-time buyers loans of 5.5 times their income \u2013 and they only need a tiny depositAfter the financial crash struck in 2008, loans to first-time buyers were immediately slashed. There would be no more jumbo-sized mortgages of five times income or more. There would be no more 95% or 100% loans. Buyers would need a large deposit. But this week Clydesdale Bank said it will grant first-time buyers mortgages of 5.5 times a borrower\u2019s income and lend up to \u00a3600,000 \u2013 and the buyer only needs a 5% deposit.The product has sent shockwaves through the mortgage industry, which was plagued with accusations before the crash about \u201creckless lending\u201d. In November 2006, Abbey (now Santander) began offering mortgages of five times salary. Vince Cable, then the Liberal Democrats\u2019 Treasury spokesman, called the news \u201cvery alarming\u201d, adding that it was \u201clikely that these irresponsible lending practices will lead to financial disaster for many people\u201d. Continue reading…
\n
\nSource : theguardian.com
\nRead more…The \u2018monster\u2019 mortgage is back \u2013 is it a risk?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

A leading bank has begun offering first-time buyers loans of 5.5 times their income \u2013...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-94379","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-oyf","jetpack-related-posts":[{"id":95315,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-related-loans-to-fall-by-1b-in-2h-2018-dbs\/","url_meta":{"origin":94379,"position":0},"title":"Property-related loans to fall by $1b in 2H 2018: DBS","date":"August 3, 2018","format":false,"excerpt":"\r Mortgages to home buyers and loans to property developers are expected to decline following the new property cooling measures. Due to the new property curbs, DBS Group Holdings expects its mortgage business to grow by 6.0 to 7.0 percent for the whole of 2018, down from its initial forecast\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":102862,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/four-in-10-uk-first-time-buyers-will-retire-with-mortgages-fca-warns\/","url_meta":{"origin":94379,"position":1},"title":"Four in 10 UK first-time buyers will retire with mortgages, FCA warns","date":"January 11, 2019","format":false,"excerpt":"\r Loans lasting up to 40 years can leave buyers unable to save for pension, say regulatorsFirst-time buyers are taking out jumbo loans on longer terms that will leave four in 10 borrowers paying off their mortgage well into retirement, regulators have warned.The Financial Conduct Authority (FCA) found that 40%\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":157299,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/bank-of-england-rolls-out-looser-mortgage-rules-to-help-first-time-buyers\/","url_meta":{"origin":94379,"position":2},"title":"Bank of England rolls out looser mortgage rules to help first-time buyers","date":"July 9, 2025","format":false,"excerpt":"\r Move hopes to push lenders to offer more high loan-to-income mortgages and help 36,000 buyers on to housing ladderBusiness live \u2013 latest updatesThe Bank of England has rolled out looser mortgage rules that policymakers hope will help 36,000 more first-time buyers on to the housing ladder each year.New guidelines\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":172206,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/no-deposit-no-problem-the-new-100-mortgages-for-first-time-buyers\/","url_meta":{"origin":94379,"position":3},"title":"No deposit, no problem: the new 100% mortgages for first-time buyers","date":"July 17, 2026","format":false,"excerpt":"\r Banks and building societies have started relaxing affordability rules and becoming more creative with productsFor many first-time buyers, getting their foot on the property ladder can feel like an impossible dream. However, the good news is that there are a growing number of mortgage deals that require only a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":18956,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/are-hk-developers-being-too-generous-with-mortgages\/","url_meta":{"origin":94379,"position":4},"title":"Are HK developers being too generous with mortgages?","date":"July 7, 2016","format":false,"excerpt":"\r Buyers are being tempted by 120 percent mortgages Another day, another dollar. Image credit: Krystal T (Flickr) Non-banking lenders are getting a tad too generous. This was the view of the Hong Kong Monetary Authority regarding the phenomenon of high mortgage loan-to-value ratios being bandied by property developers recently\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":115480,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mas-waives-tdsr-limits-for-deferred-mortgage-repayments\/","url_meta":{"origin":94379,"position":5},"title":"MAS waives TDSR limits for deferred mortgage repayments","date":"April 8, 2020","format":false,"excerpt":"\r Borrowers who apply to defer either their home loan\u2019s principal payment or both their interest and principal payments will be exempt from the TDSR limitations. The Monetary Authority of Singapore (MAS) has clarified that certain limits for deferred payments on consumer loans and mortgages will be waived in a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/94379"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=94379"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/94379\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=94379"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=94379"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=94379"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}