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Debate House Prices


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BoE cuts rates to 3.0%!!!

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Comments

  • WTF?_2
    WTF?_2 Posts: 4,592 Forumite
    :beer:
    pickles110564 wrote: »
    !!!!!!? surely you must be able to go out now and do the cheap house deal that you have been longer for? Mate I am really pleased for you.

    As you know, I don't need a cheap mortgage deal. I could buy a reasonable FTB place now for cash and it'll be enough to get a nice 3-bed semi by the end of 2009.

    Also, since half my savings are out of sterling I'm hedged against the damage this cut will cause.


    The only hope for house prices rising is general inflation supporting them. Which will hit everyone in the pocket.
    --
    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.
  • hethmar
    hethmar Posts: 10,678 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker Car Insurance Carver!
    Just checked out Nationwide - still have ebonds at 6.5%

    and this is the story re trackers:

    † If the Bank of England base rate is 2.75% or less during the tracker period, the rate you pay will track a rate of 2.75% until the base rate rises back above this. Following a change in the Bank of England base rate, our tracker rates will change on the first day of the next month.
  • Conrad
    Conrad Posts: 33,137 Forumite
    10,000 Posts Combo Breaker
    Glad I bought that ultra cheap flat last month. Looking to exchange next week
  • GDB2222
    GDB2222 Posts: 26,568 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    stevetodd wrote: »
    FTSE is down 1.9% not up (as at 12.45pm)

    It was down much more before the rate cut. Still, the rise is hardly euphoric.
    No reliance should be placed on the above! Absolutely none, do you hear?
  • BiggaThanBen
    BiggaThanBen Posts: 529 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    stevetodd wrote: »
    FTSE is down 1.9% not up (as at 12.45pm)

    Up from the level it was at 12.00 when it was announced ...
    All my life my mother told me the storm was coming (c) Terminator 3
  • Really2
    Really2 Posts: 12,397 Forumite
    10,000 Posts Combo Breaker
    !!!!!!? wrote: »
    Back in my killfile DD.

    never was DD just lost my changed password.:rolleyes:
  • hethmar
    hethmar Posts: 10,678 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker Car Insurance Carver!
    Conrad/everyone - can someone explain to a thicko how this will affect things?

    Will people now rush out to buy houses?
  • WTF?_2
    WTF?_2 Posts: 4,592 Forumite
    Hooray - recession cancelled , boom restored :rolleyes:

    What will be the next move when this doesn't work.? Let me see ... MORE interest rate cuts.
    --
    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.
  • thegibdog
    thegibdog Posts: 109 Forumite
    neas wrote: »
    Also people with student loans.. will see their repayments at 3.8% ... while the max they can get from a bank is 3%..... so student loans that were 'free'.... are actually costing students ... lovely little island we got here :P.

    I thought interest on student loans / graduate tax was done at RPI, which was 5% last time I checked... Is it only updated annually? If that's the case I'll look forward to the hit next year.
  • m1ntie
    m1ntie Posts: 331 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    mr.broderick wrote: »
    I am currently on a 5.5% fixed with abbey.
    Wonder if they will reduce their rates across the board after this big cut.

    Fixed rates obviously wont reduce.
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