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You couldn't make it up, Northern Rock raises rates

ad9898_3
ad9898_3 Posts: 3,858 Forumite
in Debate House Prices & the Economy
It makes Brown/Darling look like chumps, in case anyone had any doubts that they were.

http://www.timesonline.co.uk/tol/money/property_and_mortgages/article5237555.ece
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Comments

  • Really2
    Really2 Posts: 12,397 Forumite
    10,000 Posts Combo Breaker
    ad9898 wrote: »
    It makes Brown/Darling look like chumps, in case anyone had any doubts that they were.

    http://www.timesonline.co.uk/tol/money/property_and_mortgages/article5237555.ece

    I saw this earlier and it made me grin. Dont forget they want lending back to 07 levels and IR was 5.75 then (perhaps that is what they meant):D
    Did you see that 3.99 fix. £1000 set up for one year.:eek:
    They must use the same marketing people labour use.
  • stevetodd
    stevetodd Posts: 1,016 Forumite
    ad9898 wrote: »
    It makes Brown/Darling look like chumps, in case anyone had any doubts that they were.

    http://www.timesonline.co.uk/tol/money/property_and_mortgages/article5237555.ece

    Your headline reminded me of a quote form Harry Carpenter's commentry in the Sugar Ray Leonard v Roberto Duran fight. Leonard was so dominating and show boating Carpeneter said "if they put this in the movie Rocky no one would belive it"
  • WTF?_2
    WTF?_2 Posts: 4,592 Forumite
    ad9898 wrote: »
    It makes Brown/Darling look like chumps, in case anyone had any doubts that they were.

    http://www.timesonline.co.uk/tol/money/property_and_mortgages/article5237555.ece


    Let's face it, if they do what the government wants most of these troubled banks are going to go bust for sure ... requiring yet more taxpayer cash to bail them out.
    --
    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.
  • mewbie_2
    mewbie_2 Posts: 6,058 Forumite
    1,000 Posts Combo Breaker
    Give it up doom mongers! That 2.5% VAT change will sort all this. Who needs a mortgage when a Mars bar is cheaper. It's a grand day in Brit mod: !!!!!! Mewbie !!!!!! - just for once.
  • superstylin
    superstylin Posts: 626 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    has it raised it's rates on only the new deals for new customers?
    "a workman, even of the lowest and poorest order, if he is frugal and industrious, may enjoy a greater share of the necessaries and conveniences of life than it is possible for any savage to acquire."
  • skap7309
    skap7309 Posts: 874 Forumite
    90's Japan here we come.........
  • WTF?_2
    WTF?_2 Posts: 4,592 Forumite
    skap7309 wrote: »
    90's Japan here we come.........

    Either that or out of control inflation.

    Expect 'anti-deflation' measures to become ever more desperate ... they don't just need to combat deflation, what they really want to do is to stoke strong inflation to erode their (and the public's) debts.
    --
    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.
  • ad9898_3
    ad9898_3 Posts: 3,858 Forumite
    !!!!!!? wrote: »
    Either that or out of control inflation.

    Expect 'anti-deflation' measures to become ever more desperate ... they don't just need to combat deflation, what they really want to do is to stoke strong inflation to erode their (and the public's) debts.

    This is my thought as well, it's the cherry on the top of Labour's cake. We are going to pay heavily for Labours incompetence, even more than with the disastrous Callaghan government.

    Brown is a fool, liar and a fraud and while he's lapping it up on the American lecture curcuit in a few years, we will be paying the price for the unelected one eyed wonder.:mad:
  • Dan:_4
    Dan:_4 Posts: 3,795 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    To be honest, I was very suprised when NR passed on the full 1.5% rate cut.
  • Generali
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    AIUI, as a nationalised bank it is illegal for NRK to receive any state subsidy. As a result, their mortgage rates have to reflect their market funding rates rather than the rates they can get on repos from the BoE.
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