End of the cheap fixed mortgage

Ingsy

bendix wrote: »

Instead of complain, join in the party and buy some bank shares.

In which bank?

I was looking at Barclays, they didn't take a government handout, if I remember correctly?

Graham_Devon

StevieJ wrote: »

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.

But you still won't update your sig

Harry_Powell

Graham_Devon wrote: »

Why do you keep bringing up dithering dads threads?

Wow, a whole saving of £3015 per year.

One months house price adjustement can see that wiped off a house, or indeed, put on to it.

It's all a gamble, always, and the poster in question was everywhere trying to ramp up the market, and always diregarded the fact that these fixed mortgages he talked about always had high applicaton fees and high exit fee's.

Edit: oh, i see the thread has moved on a bit now

I've quoted DD and carolt a few times as they were the first ones I read when I joined (at least they were the first that really made an impact). Strange how no one accuses me of being carolt :rolleyes:. I am worried about rising rates pricing me out of the housing market, and while an additional £251 per month might be nothing to you, to some of us it represents a huge amount of extra money to find each month.

If I saved £9k on a house price, which is three times more than the 'paltry' £3k, and so had a mortgage for £141,000 instead of £150,000, my monthly mortgage at 6% would be £8460 per year instead of £5985 per year for a £150,000 mortgage at 3.99%.

So by doing as you advised Graham, and waiting to buy a house due to HPC, it is costing me £2475k (£206.25) more in mortgage payments. At that reate, owning the house for only 3.63 years would recoup the money saved by waiting for HPI. Over the full 5 year fix, I would actually make more money. Or have I done the sums wrong?

treliac

StevieJ wrote: »

You might not be DD but you certainly share a style

And knowledge, opinion and attitude.

StevieJ

Graham_Devon wrote: »

But you still won't update your sig

FT index dear fellow as you well know I prefer an index that includes the entire market.
You are right though, I need to change it, it should be 15%

donaldtramp

Originally Posted by bendix
Joe Bloggs on the street is an idiot. He deserves to get screwed. I have no sympathy for him. I have no problem with lack of intelligence. What i have a problem with is lack of intellectual curiosity.

Ouch. Somepeople's lack of intelligence is the stopper on intellectual curiosity. I don't think that akes them deserving of being screwed (neither does it mean they should be excused normal consequences). I think for many intelligent people the impact of lack of superior intelligence is not appreciated.

I think you guys are hitting on the very reason why some people are wealthy and other people are poor.
It isn't very nice that people should set out to screw people but it is a simple fact of life I'm afraid.

Bendix, you came across a wee bit harsh.:rotfl:But I do agree with your sentiment.
Our society has become so mollycuddled, health and safety driven, reliant on the state to wipe your backside and everyone being "entitled" to this that and the next thing. Everyone else is to blame for what has happened.

An example to back up the joe bloggs idea;
A couple I know, (one of the couple taking from the state who could easily work) recently built up 30 GRANDS worth of debt. All been wiped now due to a consumer credit agreement. At high interest rates and just scraping by every month. (2nd time they have written off high sums of debt)
Blaming everyone else for their misfortunes, the government, the credit crunch etc etc.

They are idiots!!!
Why are they allowed to sail through life (relatively of course) just bumping everyone for money?
They haven't faced anywhere near the consequences they should have.
I do agree that people like this deserve to be at the bottom of the pile. It isn't MY fault and I am after all paying to bring up their children through my taxes.
They shouldn't be excused consequences due to stupidity. But neither should other people pay!!!

It was the look of amazement on their faces when asking me what had caused the credit crunch and I said,

people like you!

(I was having a bad day, but luckily they had no comprehension of what I had said:rolleyes:)

It isn't all the "nasty" banks fault.

Harry_Powell

treliac wrote: »

And knowledge, opinion and attitude.

Please elaborate.

I have seen this sort of thing against ad44downey and Wookster and have asked people to provide any sort of proof that he uses sockpuppets. No one supplied a jot of evidence. I assume that by making this sort of stand, that I have now become the next target.

Oh well, keep it up, it does your forum so much credit and can do nothing but help attract new posters and ensure it's longevity. :rolleyes:

lostinrates

donaldtramp wrote: »

Our society has become so mollycuddled, ......30 GRANDS worth of debt. .....
They haven't faced anywhere near the consequences they should have....
I do agree that people like this deserve to be at the bottom of the pile.
.

Please excuse ruthless edit!

I agree: the example you give shows serious, serious problems. I do not think this is a good way to run things. I furthermore, thing being ritten of debt once should make lenders more wary than to let people get this indebt again.

I would say that it is not the ''idiots'' being screwed over here but the normal every day people, paying of the debts in taxes/and higher fees for services.

StevieJ

Harry_Powell wrote: »

Read your 'steviej' posts then.

I hope you are not suggesting I am/use Sockies

What was it you said?

I have seen this sort of thing against ad44downey and Wookster and have asked people to provide any sort of proof that he uses sockpuppets. No one supplied a jot of evidence. I assume that by making this sort of stand, that I have now become the next target.

Harry_Powell

StevieJ wrote: »

I hope you are not suggesting I am/use Sockies

What was it you said?

I have seen this sort of thing against ad44downey and Wookster and have asked people to provide any sort of proof that he uses sockpuppets. No one supplied a jot of evidence. I assume that by making this sort of stand, that I have now become the next target.

Just giving you a taste of youtr own medicine. Easy to accuse and difficult defend huh?

You do share DD's Bullish viewpoint on the housing and stockmarkets, have a similar writing style and like winding people up. Hmnnnnn :think:. It does seem to fit in....