Ask a stupid question.

First you have to understand I am not an accountant so what may seem obvious to you could be rocket science to me. 

Here goes. When a bank gives you a mortgage on say 50% of your property value does that mean they have effectively placed a charge on your house and can list 50% value on their balance sheet as an asset?

There is a reason for me asking this question but if I told you I would then have to shoot you.

Would appreciate some help on this as it would be useful information at the moment.

Thank you.

 

Comments
There are 8 comments. Login or register to view them.

No

petersaxton |
petersaxton's picture

i could give you an answer ...

BigBadWolf |
BigBadWolf's picture

But does that mean...

paulwakefield1 |

...hmmmmn

BigBadWolf |
BigBadWolf's picture

To be pedantic

Euan MacLennan |
Euan MacLennan's picture

Thank you

plummy1 |
plummy1's picture

The bank's asset

davidwinch |
davidwinch's picture

Thank you

plummy1 |
plummy1's picture