Sarenco,Grand so, although it would have saved us a lot of time if you had just told us that in the first place.
What I do not understand is why ask a question when you know the answer. Please go away and bother someone else.I didn't ask you for documentary evidence - I simply asked what was the basis for your claim.
If you simply told us that you have clients with commercial mortgages that had been deemed in scope, as Jim did, I would have been more than happy to accept that at face value. Why would I doubt your bona fides?
Instead, you initially offered your opinion as to why such mortgages should be in scope. There is obviously a difference between opinions and facts.
Well, it certainly wasn't obvious to me that non-residential commercial loans were in scope – if it was I would have answered Dan's question myself.Read the CBI's framework for conducting tracker review dated December 2015 that I alluded to, before posting, you are literate. It is obvious that commercial loans are included.
Then what are you disputing? As a by the way, if you take out a commercial loan to purchase your business premises and you let the premise to your business, then it is a btl loan.Well, it certainly wasn't obvious to me that non-residential commercial loans were in scope – if it was I would have answered Dan's question myself.
As you pointed out yourself, the Central Bank's framework document only refers to PDH and BTL loans. If I take out a commercial loan to purchase my business premises that is obviously neither a PDH nor a BTL loan.
For the avoidance of any doubt, I am not disputing that as a matter of fact that commercial mortgages are being treated as being in scope.
Why on God's earth would you do that! You would have to be the Forest Gump of company structuring to be that stupid. I would say that cohort of commercial borrowers numbers "1" at the most. That probably being elacsaplau, seeing that he liked your inane post. Next!I'm not disputing the factual position – I really couldn't have any clearer on that point.
If I take out a loan to purchase a premises from which I intend to operate my business that is clearly not a BTL (buy to let) loan. I'm not buying the property with a view to letting it to anybody.