Mortgage Rates next Year

abaxas

Woot found one...same property too!

To buy.... £349,950

http://212.50.188.105/cgi-win/vebra.cgi?details1?src=agent&PropertyCode=1665002WESTO/11957/2

To rent...£795 pcm

http://www.rightmove.co.uk/viewdetails-19759093.rsp?pa_n=2&tr_t=rent&mam_disp=true

Owww... £350,000 for £795......

EDIT : sorry for being a little agressive, just I spend 4 months looking at NE rentals before we moved. Also must have viewed about 40 places and generally did my homework. I know my stuff, well as of 3 months ago I knew it.

Realy

to Rent = £700
http://www.rightmove.co.uk/viewdetails-19542058.rsp?pa_n=1&tr_t=rent&mam_disp=true

Same Road.

To buy £169,950
http://www.rightmove.co.uk/viewdetails-17711680.rsp?pa_n=1&tr_t=buy&mam_disp=true

The property you linked does not show on the search for the town

We can do this all day.

Not saying buy but the difference is not as big as you make out.

abaxas

Realy wrote: »

to Rent = £700
http://www.rightmove.co.uk/viewdetails-19542058.rsp?pa_n=1&tr_t=rent&mam_disp=true

Same Road.

To buy £169,950
http://www.rightmove.co.uk/viewdetails-17711680.rsp?pa_n=1&tr_t=buy&mam_disp=true

The property you linked does not show on the search for the town

We can do this all day.

Maybe, indirectly have proven something else.

Most renters are stupid and very unMSE. Ie they overpay :<

If you want to agree on that, I think we have a go-er :P

Realy

abaxas wrote: »

Maybe, indirectly have proven something else.

Most renters are stupid and very unMSE. Ie they overpay :<

If you want to agree on that, I think we have a go-er :P

also most renter want to rent near to their work place.
I Used to live in a town where you could rent a 4 bed detached for 800pm or buy for around £320K - £290K.

I now live in a town (with lots of work) and you can rent for nearly the same price as a IO mortgage.

We all know of places but I think your example was the extreme as most in the town for £700-£800 were teraced or semi's on estates.

confused31_2

GDB2222 wrote: »

Confused, I think you are confused. The banks don't need new customers. They need to fund the losses on their existing mortgage books, which are going to increase in the future as more and more of their existing customers default whilst in negative equity. The only way they can do that is to charge their non-defaulting customers a lot more than they are paying for deposits.

Well its come and earlier than what we expected certain banks have already said they will be passing it on, i love it when im right.:p

http://news.sky.com/skynews/Home/Business/Lloyds-TSB-Says-Cheltenham--Gloucester-To-Pass-On-Interest-Rate-Cut-In-Full/Article/200811115144887?lpos=Business_Carousel_Region_1&lid=ARTICLE_15144887_Lloyds_TSB_Says_Cheltenham__Gloucester_To_Pass_On_Interest_Rate_Cut_In_Full

confused

StevieJ

confused31 wrote: »

Well its come and earlier than what we expected certain banks have already said they will be passing it on, i love it when im right.:p

http://news.sky.com/skynews/Home/Business/Lloyds-TSB-Says-Cheltenham--Gloucester-To-Pass-On-Interest-Rate-Cut-In-Full/Article/200811115144887?lpos=Business_Carousel_Region_1&lid=ARTICLE_15144887_Lloyds_TSB_Says_Cheltenham__Gloucester_To_Pass_On_Interest_Rate_Cut_In_Full

confused

Lower rates = Lower Defaults

confused31_2

Generali wrote: »

My belief is that base rates aren't going to come down as far and as quickly as many are predicting. I have always said that the only thing that will stop the BoE slashing rates is the £ collapsing. Well the £ is collapsing at the moment and that is going to constrain the BoE quite seriously.

LIBOR should continue to fall. Remember, it's 3 month LIBOR that is the important rate for bank funding and thus variable mortgage rates. Interest rate swap rates are important for fixed rate mortgages.

And heres another statement that has just made me have a little chuckle to myself.:p

confused

Cannon_Fodder

They are just reducing the rates that they'd only just put up instead of passing on the previous drop...

http://www.fairinvestment.co.uk/deals/news/mortgages-news-Lloyds-TSB-and-Woolwich-raise-tracker-mortgage-rates-2367.html

"Lloyds, however, never passed on the cut, so the difference between the cost of its deals and the base rate is now as much as 1 per cent in on some mortgages."


And it does nothing to ease strict criteria.