Bank Of China Offers Mortgages

[Hollu$]

What are your thoughts on the BOC offering UK borrowers mortgages?
Apparently you have to have a face-to-face interview with a Mortgage specialist from the BOC before they will approve anything.

You think this is a good move, or not?

Bank of China offers mortgages to UK borrowers

 

[gedward3]

What are your thoughts on the BOC offering UK borrowers mortgages?
Apparently you have to have a face-to-face interview with a Mortgage specialist from the BOC before they will approve anything.

You think this is a good move, or not?

Bank of China offers mortgages to UK borrowers

Anythings good to get lending going and at least give people the option of getting
a mortgage. Depends what loan to value they are offering. If they are doing 75 or 80% LTV its no different to what the UK banks are offering.

You can get 90% LTV from UK banks but they are offering around 6% upwards.

Ged

 

[Aaliya]

This is good because it opens up the market to even more lending and potentially more competition. Even if their LTVs were similar to the UK's, at least mortgage borrowers will have a bigger choice.

 

[BeginnerJoe]

The chinese were known to offer loans at reasonable rates to african countries. So I'd expect them to give you a fair rate. Also they are communists. So they shouldn't rip you off.

 

[justy]

Do I understand this financial breakdown correctly?
The US consumers have been fueling the world economy by producing and consuming the most - enabling technological advances as financial backing seems feasible for marketing every need of the consumers. That is the good part.In recent decades the producing part has dwindled due to China and may be lack of any major breakthrough in technological advances. However, the consumption still goes on.The mortgage loans offered by the US banks (note - highest value consumption) were backed by banks all across Europe China and Japan. Now all these banks shall have to write off these loans - Total of Billions of Dollars !!!
If this is correct I wonder if there isn't enough data and advanced mathematical methodology to predict and avoid this. We have super computers to monitor the workings of Nuclear Bombs - how about creating one to save these billions - a lot of good can be done with that kind

 

[esscubed]

What are your thoughts on the BOC offering UK borrowers mortgages?
Apparently you have to have a face-to-face interview with a Mortgage specialist from the BOC before they will approve anything.

You think this is a good move, or not?

A good move for who? BOC, or the UK FS market, or individuals?

 

[esscubed]

Do I understand this financial breakdown correctly?

I doubt it.