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Icesave Slams the Door Shut !!
Comments
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MissMoneypenny wrote: »Iceland have secured a 4billion Euro loan from Russia.
In fact it have not ...All my life my mother told me the storm was coming (c) Terminator 30 -
BiggaThanBen wrote: »In fact it have not ...
It came up on the breaking news on BBC News 24RENTING? Have you checked to see that your landlord has permission from their mortgage lender to rent the property? If not, you could be thrown out with very little notice.
Read the sticky on the House Buying, Renting & Selling board.0 -
That's because the crash in house prices is intrinsically linked with the woes of the economy.
The housing boom was only possible because of the excesses of the banking sector creating credit like it was confetti. Likewise, the credit creation process fed off of property values in a feedback loop.
As house prices eventually started to fall, it started a chain reaction as so much debt had been leveraged off of the back of property values ... which has fed back into tighter lending on mortgages .... which causes prices to plummet further .... which causes more debt de-leveraging .... A vicious circle.
You can't discuss the remarkable housing boom and bust without getting into the wider forces driving the credit which fuels the property market.
No way, really?! :rolleyes:
I know all that, its just that at the moment every thread is on one of this linked topics. No more threads about a house in Princes Risborough dropping 20% off the asking price in one go... there are bigger fish to fry.
I wasn't passing opinion on this - just commenting on what I see.
Anyway, it is utter carnage in the savings board at the mo - this is much more civilized (so far!)0 -
MissMoneypenny wrote: »It came up on the breaking news on BBC News 24
This is a link for the news
http://business.watoday.com.au/business/iceland-gets-76b-russian-loan-to-halt-meltdown-20081007-4vw6.html
"Iceland gets $7.6b Russian loan to halt meltdown"RENTING? Have you checked to see that your landlord has permission from their mortgage lender to rent the property? If not, you could be thrown out with very little notice.
Read the sticky on the House Buying, Renting & Selling board.0 -
moanymoany wrote: »On the savings board there have been lots of posts saying how they were going to leave their money in Icelandic banks - various reasons given, none would have persuaded me not to leave!
The question - to move cash or stay - has been around for a few days.
I opened a KE account last June, then read something that made me wonder. I posted a question and got mainly 'They are okay' replies. However, I searched and found two question marks over them so didn't bother.
First time Brits will (perhaps) lose money through bank failure. Hopefully not - time will tell.
I was toying with the idea of opening an account with KE a few months ago and people told me it would all be ok, i am so glad i listened to myself and didn't bother. The extra interest isn't worth the hassle and worry that people are going through now.
Hope it's all sorted really quickly for everyone.In Progress!!!0 -
MissMoneypenny wrote: »It came up on the breaking news on BBC News 24
http://news.yahoo.com/s/nm/20081007/bs_nm/us_financial
40 minutes agoHowever, Russia's deputy finance minister Dmitry Pankin said Russia had not made any decision on lending money to Iceland.All my life my mother told me the storm was coming (c) Terminator 30 -
BiggaThanBen wrote: »http://news.yahoo.com/s/nm/20081007/bs_nm/us_financial
40 minutes ago
Ooooh....interesting. Looks like it will be the UK bailing out the uk savers, up to 50k, if they go under then.RENTING? Have you checked to see that your landlord has permission from their mortgage lender to rent the property? If not, you could be thrown out with very little notice.
Read the sticky on the House Buying, Renting & Selling board.0 -
Oh balls, I have about 14k with them
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Icelandic PM saying that they did not get the help they sought from their usual friends, so we had to seek out new friends. A reference to the Russian loan? He also said that it is very unlikely that UK savers will lose out,RENTING? Have you checked to see that your landlord has permission from their mortgage lender to rent the property? If not, you could be thrown out with very little notice.
Read the sticky on the House Buying, Renting & Selling board.0 -
Wasn't one of those money-saving websites promoting some of these Icelandic banks as giving great interest rates, until recently without any mention of risk? Can't think which site it was, though.
On the plus side, if these banks do go bust, surely a fairly large proportion of their assets will continue to perform?No reliance should be placed on the above! Absolutely none, do you hear?0
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