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BoE cuts rates to 3.0%!!!
Comments
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She is annoyed with me from yesterday I said rates should go down to retain jobs.
She wanted them to go up! And then asked if I would like no rates and no job?
Realy. I kept asking you to reread my posts and you obviously haven't. I did not want rates to go up. What I said was that if someone loses their job then they might not be able to pay their mortgage. ie If a mortgage drops from 900pm to 600pm and you haven't got the 600, then you can't pay the mortgage.
But obviously yesterday she did want to make herself feel better by saying they wont pass the rate on to my BOE tracker and that I will be paying for her pension (please add children and grand children to that list;)):rolleyes:Missmoney penny if you think my lender will fall back on their obligation to give me the BOE cut
I gave you a link that I got from the mortgages board. Have you read your mortgage T & Cs yet like I suggested?
Have you managed to find another tracker mortgage yet?
I suggest you also read the small print of your pension I am sure in certain conditions it could pay you nothing.
If you look at any contract there are get out clauses for some one who as held good positions in companies you more than most should know that!
I have already said I am aware of that, but I did read the small print last night and I think the company would have to go bust for that to happen.
You have been very upset when you found out about final salary pensions. When people go to work, most provide for their old age with a pension. I'm no different to many others who work. It saves us being a burden to welfare when we are retired and still gives us a good lifestyle. If it makes you feel any better, I will be paying tax on it.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 -
My Mrs works for local goverment final salary pension = council tax time bomb.:eek:
I do find it fairly worying that someone could be at a company for a couple of years and still be entieled to a final salary pension! who is paying for it.:eek:
My mother gets a civil service pension.
I think you have to be at a company for more than a "a couple of years" to get a pension. I'm not sure about government pensions though.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 -
MissMoneypenny wrote: »Realy. I kept asking you to reread my posts and you obviously haven't. I did not want rates to go up. What I said was that if someone loses their job then they might not be able to pay their mortgage. ie If a mortgage drops from 900pm to 600pm and you haven't got the 600, then you can't pay the mortgage.
I gave you a link that I got from the mortgages board. Have you read your mortgage T & Cs yet like I suggested?
Have you managed to find another tracker mortgage yet?
I have already said I am aware of that, but I did read the small print last night and I think the company would have to go bust for that to happen.
You have been very upset when you found out about final salary pensions. When people go to work, most provide for their old age with a pension. I'm no different to many others who work. It saves us being a burden to welfare when we are retired and still gives us a good lifestyle. If it makes you feel any better, I will be paying tax on it.
Grow up moneypenny It is clear that anyone with a mortgages is likely be able to repay it easier with 1 wage if 1 person is made redundant if rates are lower! or if they have savings etc which could get them by untill to the 13 week period.:mad:
Thats a lot easier for you as it is my generation and my children who will be paying for it.(I have cancled my pension as I know it will be worthless and I am puting it in an ISA instead;) )
I have no reason to switch lenders I have the full drop:T so get over it I climbed down over your pension claim shame you can't to the same.:rolleyes:0 -
MissMoneypenny wrote: »My mother gets a civil service pension.
I think you have to be at a company for more than a "a couple of years" to get a pension. I'm not sure about government pensions though.
It is more than a coupl of years, but you know what I am saying.:rolleyes:
PS from your times article yesterday
"Lisa and Jim Anning secured their deal in early September, before the collapse of Lehman Brothers sent lending into a spin. Their First Direct offset tracker charged 0.79 per cent above the base rate. They were expecting monthly repayments to rise. But, after the two recent base-rate cuts, their payments have fallen to less than they were on their previous home loan. “We are happy with the way it has worked out so far,” Lisa says. The Annings will save more than £1,000 this year. But will you benefit too? " so can you now be gracious in defeat on this at least.:rolleyes:0 -
Grow up moneypenny It is clear that anyone with a mortgages is likely be able to repay it easier with 1 wage if 1 person is made redundant if rates are lower! or if they have savings etc which could get them by untill to the 13 week period.:mad:
What if there is only 1 wage earner? What if they haven't got savings? 13 weeks is a long to time to wait for welfare to kick in if someone hasn't got savings. Plus welfare only pay the interest on the mortgage and only on mortgage amounts of 175k.Thats a lot easier for you as it is my generation and my children who will be paying for it.(I have cancled my pension as I know it will be worthless and I am puting it in an ISA instead;) )
I have children too. Both in their early 20s and both high tax payers, so they are paying a lot into the pot too. My daughter started her pension last year.
Have you taken advice about not having a pension? Pensions are tax wrappers too.i have no reason to switch lenders I have the full drop so get over it I climbed down over your pension claim shame you can't to the same.:rolleyes:
What do I need to climb down about? I said it would be wise to read your mortgage T & Cs, which it seems you still haven't.
You said you might switch mortgages:-So you left HSBC and they left their final salery pension open for you.:eek:
You nose is on the monitor.
It is funny how wage defaltion will affect others and not you.:rolleyes:
Hello real world, your corflakes are soggy.:rotfl:
PS I might change my mortgage HSBC have lost the plot.:rotfl:
I'll take it that you have decided to stay with your present lender 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 -
Already answered....MissMoneypenny wrote: »What if there is only 1 wage earner? What if they haven't got savings? 13 weeks is a long to time to wait for welfare to kick in if someone hasn't got savings. Plus welfare only pay the interest on the mortgage and only on mortgage amounts of 175k.
I have children too. Both in their early 20s and both high tax payers, so they are paying a lot into the pot too. My daughter started her pension last year.
Have you taken advice about not having a pension? Pensions are tax wrappers too.
What do I need to climb down about? I said it would be wise to read your mortgage T & Cs, which it seems you still haven't.
You said you might switch mortgages:-
I'll take it that you have decided to stay with your present lender then.
I too pay 40%.....
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Nice to see you never back down even if you are wrong.:rolleyes:
What is the point of carrying on the most obvious argument ever. A child could point out to you why some one would be better off.:o
Right 1 wage and lost job:
No savings= Lose house if they cant hold out for 13 weeks
1 wage and lost job:
Savings & mortgage or income protection.(which most should have)=
Better off with lower interest rates and likely to hold out for the 13 weeks and it is cheaper for them
Can you really not understand?:eek:
The problem for you is that you want people to lose their house.:rolleyes:
For some one who does not need to work and is well of you are very very bitter of my circumstances.
I do not hold my self moraly higher than you why should you fell superior to me?
PS unfortunatly for your children their pensions are likely to be worth little as they will be sunbsidising pensions like yours.:rolleyes:
PPS I bet neither own their own home and this is where your biterness towards me stems from, they will get a house one day give them time and stop hoping others default to help them.0 -
Nice to see you never back down even if you are wrong.:rolleyes:
Have you read your mortgage T & Cs?What is the point of carrying on the most obvious argument ever. A child could point out to you why some one would be better off.:o Right 1 wage and lost job:
No savings= Lose house if they cant hold out for 13 weeks
How are these people better off with a rate cut?The problem for you is that you want people to lose their house.:rolleyes:
For some one who does not need to work and is well of you are very very bitter of my circumstances. I do not hold my self moraly higher than you why should you fell superior to me?
PS unfortunatly for your children their pensions are likely to be worth little as they will be sunbsidising pensions like yours.:rolleyes:
Why would I want people to lose their house?
Have you taken advice about not having a pension?
Your wife's final salary government pension will probably be better than my pension? You and your children will be paying for her pension as the tax payer are paying for government index linked, final salary pensions.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 -
MissMoneypenny wrote: »Have you read your mortgage T & Cs?
have you read the T&Cs of your pension, I have no doubt it has get out clauses enforcable if the financial world ends but you seem to think that is not the same for all contracts.
How are these people better off with a rate cut?
Why would I want people to lose their house?
Have you taken advice about not having a pension?
Your wife's final salary government pension will probably be better than my pension? You and your children will be paying for her pension as the tax payer are paying for government index linked, final salary pensions.
Very prosumptious she is not on a final salary pension.:rolleyes: (but she knows a lot of people who are:rolleyes: )
Get over it, it is obvious I have pointed out for the majority it is a good thing why can't you accept it? If you can't, move on in some way.:rolleyes:
But if you want another reason it would be easier for them to find £1000 instead of £2000?(friends relatives etc that could see them through):rolleyes:
Pension advice, I have a debt (A mortgage) I will get rid of that first before a pension as that is of greater importance to my family I still have a lot of time to build up a massive pot (hopefully;) )0 -
Well it certainly is good news for homeowners, and no doubt people will start buying again - and properties will once again start to rise.
Just to put the numbers in perspective - on a £165,000 repayment mortgage, the base rate cut would save you £1,700 per year if passed on in full.
The latest Halifax house price report showed that prices fell by over £3,800 in the last month alone, and have dropped by over £30,000 over the last year.
It still doesn't make much sense to "invest" in property just yet.poppy100 -
Just to put the numbers in perspective - on a £165,000 repayment mortgage, the base rate cut would save you £1,700 per year if passed on in full.
The latest Halifax house price report showed that prices fell by over £3,800 in the last month alone, and have dropped by over £30,000 over the last year.
It still doesn't make much sense to "invest" in property just yet.
I agree for FTB, but it is now cheper than renting in the short term for most mortgage holders. This could all change when rates go up in the future.
My mortgage interest is equiverlent to renting a £1200pm house for £520 per month.
But for a FTB it is hard to justify going in to NE just to save on rent.0
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