End of the cheap fixed mortgage

bendix

JonnyBravo wrote: »

They will happily take all the money the Govt can throw at them and then make billions in profit.


:rotfl:

Let's try again. They will happily take all the money the Government LENDS them, and then make billions in profit . . . after paying the govermnent loans back, with interest.

Isn't that . . ummm. . a good thing for everyone?

JonnyBravo

bendix wrote: »

Let's try again. They will happily take all the money the Government LENDS them, and then make billions in profit . . . after paying the govermnent loans back, with interest.

Isn't that . . ummm. . a good thing for everyone?

Yes, if you believe you'll get fair value back. I don't trust the Govt to get enough back.

Hence why I'm getting my share via my own decisions around their shares.

Lotus-eater

JonnyBravo wrote: »

I'm a little flabbergasted by your lack of understanding.
The chairman will get rich beyond an average Joe's wildest dreams and the MP's responsible for this will all get cushy executive jobs when we throw them out of office.

Lack of understanding about what?
I know how it works, it works like this. Big business is only there to make money, as much as possible, from anyone they can, they don't care what they have to do to collect it, they do care about their public image, but only so they can make more money. Banks are no different to any other business.
Many MP's are there (by the looks of it) to make money and have power.
Yeah it stinks, so what? It's always been like that.

JonnyBravo

Lotus-eater wrote: »

Lack of understanding about what?

Your lack of understanding about how people can be upset/angry/disappointed etc by it.

Lotus-eater wrote: »

I know how it works, it works like this. Big business is only there to make money, as much as possible, from anyone they can, they don't care what they have to do to collect it, they do care about their public image, but only so they can make more money. Banks are no different to any other business.
Many MP's are there (by the looks of it) to make money and have power.
Yeah it stinks, so what? It's always been like that.

Agreed.
Most of the time I'm chilled aboout it too. But occasionally I like to rant about it.

(Still doesn't mean I can't profit like bendix says.... lets all get our snouts in the trough)

:j

ad9898_3

Harry_Powell wrote: »

If rates go up to 6%, then had I gotten a £150,000 mortgage at 3.99 I would have saved myself £251.25 per month! or £3015 per year.

The key issue about these figures is if you're a FTB'r, by not buying in the last 18 months, your average house has fell by £3,000 approx. every 6 weeks, there in lies the rub.

IMO, IR's are not that relevant in a falling market, (or even a static one if you're able to save), much better to have a smaller mortgage and pay a higher rate, than a large mortgage with a lower rate, don't forget you have to earn £3 for every £1 you pay off your mortgage, the figures are even worse if you're a higher rate tax payer.

StevieJ

Lotus-eater wrote: »

Lack of understanding about what?
I know how it works, it works like this. Big business is only there to make money, as much as possible, from anyone they can, they don't care what they have to do to collect it, they do care about their public image, but only so they can make more money. Banks are no different to any other business.

Not a problem now, but in the future some of these banks are going to be in competitive positions that would have been considered very unhealthy not so long ago.
We will have to wait and see how this is addressed,

Lotus-eater

JonnyBravo wrote: »

Most of the time I'm chilled aboout it too. But occasionally I like to rant about it.

Just be glad your local landowner still isn't handing you a bow at the age of seven and training you up to be killed in France by the age of 20.


Then you might have something to complain about (but don't, otherwise you will be hung)

JonnyBravo wrote: »

Your lack of understanding about how people can be upset/angry/disappointed etc by it.

I don't think it's a lack of understanding, it's more I don't like to be carried along with the crowd when they are rioting. The fact that the general public hates the bankers is a very good reason to stand back and actually look at the information.
Yes they made mistakes, most of them didn't even understand what they were doing. Yes, this year they are public hate figure No1 (or is it 2 now, with MP's being No1), next year it will be some other group of people and I suspect I won't follow the crowd with that one either.

Harry_Powell

StevieJ wrote: »

You might not be DD but you certainly share a style

Ah, so I'm doomed to share Wookster's fate and be dismissed as a sock puppet, just because someone left around the time when I started?

And you all wonder why this board is dying on it's feet? You should put up a sign "NOOBS NOT WELCOME!!!". :rotfl:

StevieJ

ad9898 wrote: »

The key issue about these figures is if you're a FTB'r, by not buying in the last 18 months, your average house has fell by £3,000 approx. every 6 weeks, there in lies the rub.

IMO, IR's are not that relevant in a falling market, (or even a static one if you're able to save), much better to have a smaller mortgage and pay a higher rate, than a large mortgage with a lower rate, don't forget you have to earn £3 for every £1 you pay off your mortgage, the figures are even worse if you're a higher rate tax payer.

I don't think he was talking about 18 months ago, more like recently with decent fixed rates and 20% (or much more at auction) off house prices,BTW surely that £3 for every £1 gets worse the higher the interest rate.

ad9898_3

Harry_Powell wrote: »

Ah, so I'm doomed to share Wookster's fate and be dismissed as a sock puppet, just because someone left around the time when I started?

And you all wonder why this board is dying on it's feet? You should put up a sign "NOOBS NOT WELCOME!!!". :rotfl:

I agree, who cares if someone left and re-joined, I don't, nearly everyone has something to offer, I might even do it myself, as my username is crap, I just added some numbers to my name, however, I didn't forsee that I would post quite so often.

Whether people are noobs or not, leave them be.