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Jun

Desperate Champagne Houses

Jacob Gaffney  in News , , , , , ,

The title for today’s post is misleading, sure, as it deals more with the UK housing market, not France.

Look, we all know the economy is suffering, but what is really interesting is that new mortgage products need some sort of ‘hook’ to get the good punters in…(good punters defined as those who can provide 20% down payment with a spotless credit record).

Take the latest Charcoal deal, where, if you fill out the form online, you get a free bottle of Champagne!

InterWined suspects that it is going to take more than free wine to stimulate inter-bank lending and get the markets going again. But, then again, we aren’t mortgage originators…

Yet, if you believe the idea is farfetched, consider that Lloyds TSB is offering a new airmiles mortgage product where, as you pay down your mortgage, you earn credits to be used toward — you guessed it — products such as cases of wine.

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