lui Posted December 4, 2008 Share Posted December 4, 2008 Bank slash interest rates now 2% lowest since 1957 WOW nice cheap monthly payments now but how long will this last ??? Time to do some thinking as my mortgage has no tying's so going to see what's best plans out there Quote Link to comment Share on other sites More sharing options...
RiceRocket Posted December 4, 2008 Share Posted December 4, 2008 Quote Link to comment Share on other sites More sharing options...
Havard Posted December 4, 2008 Share Posted December 4, 2008 Oooh, might be time to move..........NOW!!! Quote Link to comment Share on other sites More sharing options...
jefferson Posted December 4, 2008 Share Posted December 4, 2008 this actually has an adverse effect on how much banks will lend as, just like we have at Abbey, banks will pull their tracker rates until they work out which rates are profitable or not - that means we wont ofer trackers at the current differential and will increase the rate so not passing on the full 1% rate drop - why o why oh why? Quote Link to comment Share on other sites More sharing options...
den1 Posted December 4, 2008 Share Posted December 4, 2008 Bye Bye £ Quote Link to comment Share on other sites More sharing options...
marbleapple Posted December 4, 2008 Share Posted December 4, 2008 saved me some more money Quote Link to comment Share on other sites More sharing options...
Havard Posted December 4, 2008 Share Posted December 4, 2008 this actually has an adverse effect on how much banks will lend as, just like we have at Abbey, banks will pull their tracker rates until they work out which rates are profitable or not - that means we wont ofer trackers at the current differential and will increase the rate so not passing on the full 1% rate drop - why o why oh why? You sound like you know what you are talking about...... Quote Link to comment Share on other sites More sharing options...
marbleapple Posted December 4, 2008 Share Posted December 4, 2008 You sound like you know what you are talking about...... Or he just watched BBC news and tried to repeat what he heard Quote Link to comment Share on other sites More sharing options...
mr lover Posted December 4, 2008 Share Posted December 4, 2008 thing is a lot of the lenders will not pass on the full 1% to us Quote Link to comment Share on other sites More sharing options...
Havard Posted December 4, 2008 Share Posted December 4, 2008 thing is a lot of the lenders will not pass on the full 1% to us Isn't that what Jefferson (the mortgage advisor....) said.... Quote Link to comment Share on other sites More sharing options...
marbleapple Posted December 4, 2008 Share Posted December 4, 2008 Isn't that what Jefferson (the mortgage advisor....) said.... With respect to Jefferson, he could be an economist, it doesn't mean he is any the wiser. Too many variables. We can only have informed guesses can't we. Quote Link to comment Share on other sites More sharing options...
Havard Posted December 4, 2008 Share Posted December 4, 2008 With respect to Jefferson, he could be an economist, it doesn't mean he is any the wiser. Too many variables. We can only have informed guesses can't we. No..!! Rob is a god when it comes to this stuff..... Although I have never had a mortgage from him, but he has a house and that says enough for me....lol Quote Link to comment Share on other sites More sharing options...
Carl_S Posted December 4, 2008 Share Posted December 4, 2008 what again, more cuts? good for me. Quote Link to comment Share on other sites More sharing options...
Shadow Beast Posted December 4, 2008 Share Posted December 4, 2008 we are with nationwide, and there tracker wont go lower than 2.75% Richie Quote Link to comment Share on other sites More sharing options...
GazB Posted December 4, 2008 Share Posted December 4, 2008 No good for me trying to recoupe money after loosing on my shares, imo this is not a good move At the rate they keep dropping interest does anybody think lenders will be doing automatic 0% finance on house purchases soon We are in trouble for lending too much and they try to get people to borrow more how does this make sense? I would like to know how they intend giving me the thousands of pounds back i've lost on shares and i'm not the only one for sure, shall shut up now as it really p*sses me off the way we are being screwed by the goverment and banks Quote Link to comment Share on other sites More sharing options...
ozz Posted December 4, 2008 Share Posted December 4, 2008 No good for me trying to recoupe money after loosing on my shares, imo this is not a good move At the rate they keep dropping interest does anybody think lenders will be doing automatic 0% finance on house purchases soon We are in trouble for lending too much and they try to get people to borrow more how does this make sense? I would like to know how they intend giving me the thousands of pounds back i've lost on shares and i'm not the only one for sure, shall shut up now as it really p*sses me off the way we are being screwed by the goverment and banks Surely buying shares is just gambling? You wouldn't expect a casino to refund if you lost. Would be nice though! Excellent time (IMO) to buy shares now if you choose carefully, I'm investing in shares any money I'm saving off the mortgage. Quote Link to comment Share on other sites More sharing options...
GazB Posted December 4, 2008 Share Posted December 4, 2008 I appriciate having shares is a gamble, but when the goverment put millions of pounds back into banking to help people out that are in trouble through borrowing more than they can afford and people who invest there own cash loose out, something doesn't seem quite right to me How else do you invest your pension funds, alot of people will not be aware how much there pension fund have lost. If i'd have invest pension money into property it would have still taken an hit, the only way not have lost seems to have been cash under the mattress Without investment surely we can't grow? Quote Link to comment Share on other sites More sharing options...
Nick Posted December 5, 2008 Share Posted December 5, 2008 I think many people are only focusing on their mortages, and missing the big picture. This thread points out some very valid, and some very worrying points: http://www.gtr.co.uk/forum/108711-real-value-sterling.html#post1019007 Quote Link to comment Share on other sites More sharing options...
Paul372 Posted December 5, 2008 Share Posted December 5, 2008 I am on a fix rate so no saving for me Quote Link to comment Share on other sites More sharing options...
The Raven Posted December 5, 2008 Share Posted December 5, 2008 My rate when passed on.... Should be half what i was paying. I never voted labour in my life. If brown pulls this one out he gets my vote, never thought id say that. Quote Link to comment Share on other sites More sharing options...
jefferson Posted December 5, 2008 Share Posted December 5, 2008 With respect to Jefferson, he could be an economist, it doesn't mean he is any the wiser. Too many variables. We can only have informed guesses can't we. correct - it is only that, an informed guess - but when people are only just receiving letters from the banks saying how much the 1.5% drop will save them as most banks only change svr's at the end of the month of a rate change then nobody will have felt the benefit yet, so why go and drop it another 1% - wait to see what impact the 1.5% drop has on consumer confidence first No..!! Rob is a god when it comes to this stuff..... Although I have never had a mortgage from him, but he has a house and that says enough for me....lol Yes and yes - cheers H! Quote Link to comment Share on other sites More sharing options...
GazB Posted December 5, 2008 Share Posted December 5, 2008 correct - it is only that, an informed guess - but when people are only just receiving letters from the banks saying how much the 1.5% drop will save them as most banks only change svr's at the end of the month of a rate change then nobody will have felt the benefit yet, so why go and drop it another 1% - wait to see what impact the 1.5% drop has on consumer confidence first So you think it was dropped for what reason? Could it be they don't or haven't got any money to pay out in interest on savings or the actual money that is invested because they have given it all away to borrowers It's looking like there may be a lot of high level corruption in banking involving goverments and also the stock market Quote Link to comment Share on other sites More sharing options...
Thorin Posted December 5, 2008 Share Posted December 5, 2008 Repost. Quote Link to comment Share on other sites More sharing options...
and1c Posted December 5, 2008 Share Posted December 5, 2008 I am on a fix rate so no saving for me Same here Quote Link to comment Share on other sites More sharing options...
GazB Posted December 5, 2008 Share Posted December 5, 2008 I think many people are only focusing on their mortages, and missing the big picture. This thread points out some very valid, and some very worrying points: http://www.gtr.co.uk/forum/108711-real-value-sterling.html#post1019007 Had a look at this Nick and see what you mean, there's plenty to worry about. the media focus on morgages as they know it's easy press, they then don't have to report on the real issues Quote Link to comment Share on other sites More sharing options...
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