BOE Rates hit 1.5%

chucky

carolt wrote: »

Wow, you must have a big mortgage.

Explains your fear and aggression when confronted with the fact that house prices are falling.

My mortgage costs aren't falling because I don't have one.

But the prices of houses I want to buy are falling at about £5000 a month.

Stick that in your pipe and smoke it.

Thanks for your concern Carol - very kind hearted but I don't smoke.

Looks like you've got all angry again and jumped in without reading my post; it says nearly 100% offset - that means I nearly live mortgage free. translated that means zero, zilch, nada my dear.

Just to put you in the picture I remortgaged last July to take my borrowing up to 95% from having a 10% mortgage (£565k to be exact, i call it additional opportunity cash flow) and put it straight back into my offset. I've moved out of that property now and have let it for 3 years on a non-housing act tenancy (I'll let you can work out the rent from what type of agreement it is)

I can then take out cash from my Offset Saver so that my rent is always less than the interest paid, hence being tax efficient on my personal BTL.

So that means I'm renting now and now in a position to go and buy another property when the opportunity arises so that I'm in the same position again - waiting for another bargain

Have a nice day Carol.

ps. I've never said prices weren't falling, it seems you're making things up yet again

Really2

Old_Slaphead wrote: »

How do lower interest rates help?

In this case it's just about taking money off a bunch of people with no mortgage & savings and giving it to a bunch who have no savings & mortgage.

I suspect that the latter will just use their windfall to pay down debts and not consume more.

Is interest not paid by the money made on other peoples debt?
I am sure during HPI and 7% Interest rates you just kept in a suitcase and never took advantage.;)

stevetodd

mr.broderick wrote: »

Ahh the ever friendly carolt appears on the forums today with news that the base rates are now 1.5%. I am still trying to work out where your aggresion comes from carol. I'd guess it is the fact you rent a house instead of own one. It is what i hate about these forums these days, it is ok to gloat and post graphs showing house price decline but whenever someone who actually owns a house has some good news for them they are attacked. Hate it.

Well said,

carolt

chucky wrote: »

Thanks for your concern Carol - very kind hearted but I don't smoke.

Looks like you've got all angry again and jumped in without reading my post; it says nearly 100% offset - that means I nearly live mortgage free. translated that means zero, zilch, nada my dear.

Just to put you in the picture I remortgaged last July to take my borrowing up to 95% from having a 10% mortgage (£565k to be exact, i call it additional opportunity cash flow) and put it straight back into my offset. I've moved out of that property now and have let it for 3 years on a non-housing act tenancy (I'll let you can work out the rent from what type of agreement it is)

I can then take out cash from my Offset Saver so that my rent is always less than the interest paid, hence being tax efficient on my personal BTL.

So that means I'm renting now and now in a position to go and buy another property when the opportunity arises so that I'm in the same position again - waiting for another bargain

Have a nice day Carol.

ps. I've never said prices weren't falling, it seems you're making things up yet again

That's OK chucky, I just joined in in the spirit of things as it appeared I had stumbled across the gloating thread.

How right I was.

pickles110564

carolt wrote: »

That's OK chucky, I just joined in in the spirit of things as it appeared I had stumbled across the gloating thread.

How right I was.

Normally it is the bitter and twisted thread when you are posting, shame you wont be getting much interest on your savings.

chucky

that's what i was thinking but then i saw when i saw this

carolt wrote: »

But the prices of houses I want to buy are falling at about £5000 a month.

Stick that in your pipe and smoke it.

but then saw this and thought that it was bitterness and some acrimony there

carolt wrote: »

Wow, you must have a big mortgage.

Explains your fear and aggression when confronted with the fact that house prices are falling.

then this explained it all (I've added a bit that you left out)

carolt wrote: »

My mortgage costs aren't falling because I don't have one - because I missed the boat.

but I'm glad it's all ok now.

have a nice day

Old_Slaphead

Really2 wrote: »

Is interest not paid by the money made on other peoples debt?
I am sure during HPI and 7% Interest rates you just kept in a suitcase and never took advantage.;)

That doesn't really address my question - how do lower interest rates really help?

If everyone goes bust you wont have any savings

If everyone goes bust then I'll still have my house (assuming, big assumption, that anarchy won't have broken out) but mortgage holders won't have theirs - or if they do, it won't belong to them and will be termed "social housing"!

carolt

chucky wrote: »

that's what i was thinking but then i saw when i saw this



but then saw this and thought that it was bitterness and some acrimony there



then this explained it all (I've added a bit that you left out)



but I'm glad it's all ok now.

have a nice day

How can I have missed the boat? Is that the boat where I watched the value of my house drop month by month?

Oh no! I'm so sad I missed it!

It's a lovely sunny day here, thank you. Even turned warm now.

chucky

carolt wrote: »

How can I have missed the boat? Is that the boat where I watched the value of my house drop month by month?

Oh no! I'm so sad I missed it!

It's a lovely sunny day here, thank you. Even turned warm now.

yes that's very true - when it's your home it doesn't really matter.

it also depends how much HPI has been factored in - some people have probably got over 100%/200% even 300% HPI HPI in their property. it's even better if you've used previous HPI for equity in your home.

just did some calculations on the average mortgage (even with it being a short term depreciating asset) it's cheaper than renting - I was shocked.

it's nice and bright here - looking out of the office window it looks like it's going to be a lovely sunset too.

mr.broderick

carolt wrote: »

How can I have missed the boat? Is that the boat where I watched the value of my house drop month by month?

Oh no! I'm so sad I missed it!

It's a lovely sunny day here, thank you. Even turned warm now.

I have no idea how or why you missed the boat carol, reading between the lines you are slightly bitter about this and that is understandable however constantly posting bitter and cutting remarks to people who enjoyed hpi is not going to bring that opportunity back. Please try to be more civil, you seem to be the only problem member at the moment.