Rate cuts passed on at last

sabretoothtigger

Nationwide used to lend 10 times earnings?


I dont believe the libor fell 1% before the boe rate did, thats got to be a mistake.

I reckon 50% falls from the highs is when its reasonable to start expecting a slow down to price falls and possible turn

scousethife

Generali wrote: »

So all we need to do is find a bloke called Dave Subprimelending, preferably in the US, and we pin the blame on him. Right?

Right!

Also there is a bloke round my way called - How come bonfire night lasts 3 weeks these days

But thats a bit off topic, and a lot made up!

Generali

scousethife wrote: »

How come bonfire night lasts 3 weeks these days

Because the Anglicans burn a Catholic bloke called Guido Fawkes and the Hindus burn a woman called Dee Wali.

(Something like that anyway).

tomstickland

Generali wrote: »

The longer that we keep our heads in the sand regarding pensions, the worse the problems will be.

We have a massive problem looming that's never discussed regarding unfunded public pension liabilities.

Generali

tomstickland wrote: »

We have a massive problem looming that's never discussed regarding unfunded public pension liabilities.

We do. We also have a couple of pretty nasty (although smaller) problems with underfunded private pension liabilities and people who have no pension at all.

Pensions are going to bite the UK in the bottom and immigration isn't going to fix the problem.

Last thing I saw, the unfunded public pension liability was estimated at £1,070,000,000,000. If we sack all civil servants tomorrow and then just do nothing to fund those liabilities then we're looking at an extra £6,240,000,000 to find each month until we find a solution!

Mark-W_2

i dont think the libor rate fell by 1% on thursday either, all the reports say the new rate of 4.49 was set on friday.

Please can someone tell me if the have or even know someone who had a 8x or 10 multiple on the mortgage, i certainly never have.
I know when i bought my current property there was a 4.5/5x single salary at best, were these magical multiples only for a select few in the SE with guarenteed salaries for life?

Also please can you tell me why anyone with a slightly alternative viewpoint other than the accepted norm 'bear' mentallity is treated with scorn? (12 months ago this was the bull mentallity, im not taking sides as like everyone else i have no idea.)
Just becuase some believes that the recession will not be as deep or house prices will not drop as far doesnt mean they are wrong, we are all just making a best guess unless one of you is actually jules verne and you have visited the future?

ManAtHome

Mark-W wrote: »

Just becuase some believes that the recession will not be as deep or house prices will not drop as far doesnt mean they are wrong, we are all just making a best guess unless one of you is actually jules verne and you have visited the future?

And the last time BoE dropped interest rates by 1.5% was...? Hardly surprising the bears are not just limited to the woods...

formulaonefan

ManAtHome wrote: »

And the last time BoE dropped interest rates by 1.5% was...? Hardly surprising the bears are not just limited to the woods...

I think BoE reduced the rate by 1.5% is to avoid deep recession. Something must have spooked them. This recession is going to be a nasty one and we should all brace ourself and be prepared for it. Personally I think we should be more careful with our financial decision now then ever before.

StevieJ

formulaonefan wrote: »

I think BoE reduced the rate by 1.5% is to avoid deep recession. Something must have spooked them. This recession is going to be a nasty one and we should all brace ourself and be prepared for it. Personally I think we should be more careful with our financial decision now then ever before.

Total rubbish, they dropped it 1.5 because the banks the day before had taken 0.5% off the trackers.
I am surprised at you ndg giving this a thankyou.
I bet you even think that Hamilton should be given Sports personality of the year in front of Becky

formulaonefan

StevieJ wrote: »

Total rubbish, they dropped it 1.5 because the banks the day before had taken 0.5% off the trackers.
I am surprised at you ndg giving this a thankyou.
I bet you even think that Hamilton should be given Sports personality of the year in front of Becky

Utter rubbish! Banks took 0.5% off the day before because they know there is going to be a rate cut and they were planning ahead. They did not expect 1.5% rate cut!

Absolutely! Bloody yes Lewis Hamilton should win Sports personality of the year award. Swimming and Formula 1 is not the same. Becky deserves a lot of credit for what she has achieved. But Lewis deserves the sports personality of the year award. No bloody doubt about it. Last race of the year, Last lap, Last corner, world championship at stake, fighting the combined team of FIA, Ferrari, Sister Ferrari team and Alonso and still won it! Well done Lewis!