We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Debate House Prices
In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non MoneySaving matters are no longer permitted. This includes wider debates about general house prices, the economy and politics. As a result, we have taken the decision to keep this board permanently closed, but it remains viewable for users who may find some useful information in it. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
BoE cuts rates to 3.0%!!!
Comments
-
setmefree2 wrote: »TBH I don't know why Woolwich/Barclays would be bothered what interest rate I pay. It was pre credit crunch so presumably my mortgage has been packaged up and sold on long ago and is some sort of MBS bought by someone in the shadow banking world?
Only about 1/5th of the mortgages in the UK have been sold on in some kind of alphabetti spaghetti deal.
Nationwide, often cited as a firm that is above such shenanigans, has well over 1/3rd of its loans packaged up and sold on in one way or another from my (inexpert) reading of their balance sheet.0 -
If anyone wants it, theres a rate reduction calculator here
http://www.findaproperty.com/mortgageratechange.aspx
you can work out roughly what you're in for with the saving
WOW!!!!
Would be great if the banks passed on the cuts!
I would save £74 per month!!
Here's hoping _party_ _party_ _party_ _party_ _party_0 -
Only about 1/5th of the mortgages in the UK have been sold on in some kind of alphabetti spaghetti deal.
Which is bad news as the UK banks will be left with the mess on their hands.
At least the Yanks had the sense to parcel theirs up and sell it on to greedy suckers at banks in the rest of the world.--
Every pound less borrowed (to buy a house) is more than two pounds less to repay and more than three pounds less to earn, over the course of a typical mortgage.0 -
Which is bad news as the UK banks will be left with the mess on their hands.
At least the Yanks had the sense to parcel theirs up and sell it on to greedy suckers at banks in the rest of the world.
Well you can argue that the buyers weren't greedy but that as the directors hold a fiduciary duty to the shareholders they have to act in the best interests of those shareholders. That means that if they have to hold reserves as AAA rated assets, they should buy the highest yielding ones.
The whole mess we are in isn't a simple morality tale, there is a whole maze of !!!!!! not just a neat pile.0 -
At least the Yanks had the sense
I can think of a lot of words to replace sense in that post !!!!'In nature, there are neither rewards nor punishments - there are Consequences.'0 -
No I did at first,
But its gone from speaking direct to your personel too you used to work for them to automated responses.
Sorry, I don't understand what you're saying. 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 -
Yup. 2% rates would yield an effective 1.2% income on the savings for me.
That doesn't compensate me for the level of risk of leaving it a banking system which not so long ago looked like it might implode before the recession actually even kicked in.
You want to have a look at bond funds, 10 -12 % yields and easier for the managers to assess who may or not default than which companies are going to show substantial share price increases. Plus they are higher up the food chain than stocks.
Massive value, way to go (as those yanks say).'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
But how do you get a final salery if you don't work for them,?
Based on last salary uprated for RPI, so rises could actually go up more than pay rises in these tough times.'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.3K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.4K Spending & Discounts
- 245.4K Work, Benefits & Business
- 601.1K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards