House prices bottomed ?

StevieJ

Graham_Devon wrote: »

Stevie, how do YOU suggest they regain losses aswell as pay bailouts back? Aswell as do away with QE?

Rather than just picking holes and going personal, tell us how YOU think they are going to do everything they need to do to stabalise and lend in a risky market.

The shareholders have paid the losses :eek: Ask Joe Bloggs who had a ruck of shares in RBS who has suffered the capital losses.

Graham_Devon

StevieJ wrote: »

The shareholders have paid the losses :eek:

Thats not an answer to the question, thats another simple one liner

And it's not even factually correct.

So, how do you suggest they do what I asked?

kennyboy66_2

Thrugelmir wrote: »

and what is Nationwide's difference between SVR and BOe base now?

I'm on a fixed for another 15 months and my prodct reverts to BMR rather than SVR.
I think they replaced SVR with BMR (Base rate mortgage) sometime in the last 8 years. The differential (BMR) is currently 2.0%.

To be honest, I don't think it will increase above 2.5%, although I think Nationwide have generally had one of the lowest spreads of the major lenders.

Then again they also have something called their Standard Mortgage Rate (SMR) which is 3.49% above base.

I suspect they are replacing BMR with SMR.

A bit confusing.

StevieJ

StevieJ wrote: »

To be honest, I am starting to believe that is exactly what he is looking to do :eek: it would not surprise me if he drove the DT mob to distraction before he chanced upon this board

See what I mean

Graham_Devon

StevieJ wrote: »

See what I mean

Personally no.

You are ridiculing my thoughts, while changing what I said. But when asked for input, you simply go back to this childish malarky.

How can you ridicule stuff when you yourself when asked, will not answer any of the questions, presumably because your stuck, so go for the populist "slate the poster" option instead?

Can I suggest if you are going to ridicule peoples thoughts, you at least have a little backup as to why your ridiculing, and at least have the decency to back up your little one liners?

kennyboy66_2

Thrugelmir wrote: »

Nationwide does not borrow on wholesale markets. Relies on members deposits for funding.

I would suggest then that you check the last annual report.

Nationwide has for at least 10 years borrowed from the commercial markets.
While it is no Northern Rock, approx 30% of their funding comes from the wholesale market.

Graham_Devon

kennyboy66 wrote: »

I would suggest then that you check the last annual report.

Nationwide has for at least 10 years borrowed from the commercial markets.
While it is no Northern Rock, approx 30% of their funding comes from the wholesale market.

Could be completely wrong, but thought the commerical market funding was only for investments? I..e BTL.

Thrugelmir

StevieJ wrote: »

The world economy will self correct, when it does the banks from across the world will seek the highest returns, competition will return and it would not surprise me if mortgages in the future were supplied from The Peoples Bank of China at BR +1%.

You contradict yourself in your statement. Why would the PB of C want to give mortgages at +1% ? They too would want the highest returns.

I thought we had got past the stage of discussing that cheap money will return in the foreseeable future.

The Chinese will buy US treasuries or UK gilts........

StevieJ

Thrugelmir wrote: »

You contradict yourself in your statement. Why would the PB of C want to give mortgages at +1% ? They too would want the highest returns.

I thought we had got past the stage of discussing that cheap money will return in the foreseeable future.

The Chinese will buy US treasuries or UK gilts........

No contradiction, if high returns are available they will be sought out, then we have competition and returns become competitive. I think that is how markets work.

Graham_Devon

StevieJ wrote: »

No contradiction, if high returns are available they will be sought out, then we have competition and returns become competitive. I think that is how markets work.

Apart from China would undercut the existing providers by max of 1%.

If as you are suggesting markets worked that way, the energy firms would not all be pocketing vast swathes of money while keeping prices high. One of them would have seriously rocked the boat by cutting to the bone.

They haven't, never have, and probably never will.