Saturday, 10 May 2014

What can possibly go wrong?

Emailed in by MBK, from The Guardian:

A range of Help to Buy mortgages which combine financial assistance from the government with credit card-style "0%" introductory interest rates have been launched by Leeds building society…

The new mortgages from the Leeds are part of the first phase of Help to Buy, which allows buyers to take out a mortgage for as little as 75% of the cost of a new-build property, provided they can manage a 5% deposit, with the government providing an equity loan of up to 20%.

The deals, which are the result a link-up between the building society and home-builder Barratt, include three fixed-rate mortgages with an introductory 0% rate.

A 10-year deal offers borrowers three months at 0% before moving them to a rate of 5.16%, or six months at 0% and then 5.34%; the five-year deal offers three months at 0% and then 4.13%, or six months at 0% and then 4.4%; and the two-year version offers three months at 0% and then 2.88%.


Bayard said...

The drug dealers have started offering sweets to kids.

Ralph Musgrave said...

Politicians: Buy Help to Bubble. It washes whiter. It wins you votes. It leaves your successors with a nasty mess to clear up (tee hee). It means banks lend more which means they’ll make bigger profits and be able to give you more (in brown envelopes) towards your election expenses.