When the Housing Bubble has been blown as big as it can possibly get, how can you make it bigger? We're not talking about a minor continuation of an already "out of control" housing market. It's Government Intervention time! Hold onto your hats and get ready for the 125% mortgage. This will not end well...
Want to buy but don't have a deposit? Here comes the 125 per cent mortgage - Now you can borrow beyond your property's value
First time buyers who have no deposit are being encouraged on to the housing ladder with the help of a new mortgage that allows them to borrow more than the price of the property.
Alliance and Leicester last week became the latest lender to offer a 125 per cent mortgage.
PlusMortgage works by offering a secured loan (the mortgage part) on up to 95 per cent of the value of the property and a further unsecured loan on up to a further 30 per cent of the value.
2) Speed Viewings hit London
From the Guardian (print only): Estate agents use new high-pressure tactic as shortage of homes sparks buyer frenzy
In place of conventional estate agent guided tours of properties, agents are encouraging vendors to open their doors for just one hour and invite potential buyers to view their home en masse. Such "mass viewings" are creating an atmosphere of panic among homebuyers.
