Fixed rate mortgages - have juicy deals gone for good?

HAMISH_MCTAVISH

carolt wrote: »

I think if rates shot up and margins - according to you - shot up even higher, that there would be a significant drop in mortgage demand.

Time will tell.

No, bank margins are shooting up now. Base Rates won't rise til a recovery is firmly embedded. By that time, prices will be rising markedly, and additional liquidity returning to the market will actually drive margins down.

So the amount being paid by post crash buyers will remain sufficiently high to wipe out savings from the crash, but not high enough to force them into difficulty.

And there will be no glut of properties coming onto the market as base rates will be low for years, and the vast majority of pre crash buyers will be sheltered by low SVR's agreed in pre crash days.

It's the post crash buyers who will see higher margins and eventually rates, wipe out the savings from lower prices.... And who stand to lose most from rising base rates. PLus the additional lifetime costs incurred by renting in the meantime.

I would feel sorry for them, but too many have been gloating about the losses in value some existing owners have suffered.

So a bit of schadenfreud seems in order now it's clear the interventions have stabilised the market, and the savings they thought they would make are evaporating before their eyes.....;)

nearlynew

HAMISH_MCTAVISH wrote: »

:rotfl:



Prices don't "need" to fall at all. Prices will settle wherever the supply of funding lets them. As the supply is rising, unless it falls again, prices will stabilise or rise.

Yes they do need to fall McTwatish.
To a level where they are affordable not according to what the prevailing interest rate is, but to a level where 4x average salary is enough to buy an average house.

Just because you bought at the top and believed the bullsh1t about Scotland being immune to falls, doesn't mean that what you paid is the "right" price.

In summary.................... you are a desparate HPI chancer and your views are not worth a w4nk.

which is why you were banned from HPC.

HAMISH_MCTAVISH

nearlynew wrote: »

Yes they do need to fall McTwatish.
To a level where they are affordable not according to what the prevailing interest rate is, but to a level where 4x average salary is enough to buy an average house.

Just because you bought at the top and believed the bullsh1t about Scotland being immune to falls, doesn't mean that what you paid is the "right" price.

In summary.................... you are a desparate HPI chancer and your views are not worth a w4nk.

which is why you were banned from HPC.

:rotfl:

rolflmao

People can buy for 4 times salary now, in fact, even at peak, the CML average LTI figures never crossed 3.5 times income. And prices in Aberdeen are still at march 2007 levels, so I'm not bothered at all.

All the prominent bulls were banned from HPC last week, just like in 2005, and in 2003.... Smacks of desperation.

In fact, HPC mods are the perfect indicator of rising prices.

Whenever they get so desperate they have to ban the bulls, prices rise!!!!!:T

Oh goody.....;)

biglugs

People can buy for 4 times salary now, in fact, even at peak, the CML average LTI figures never crossed 3.5 times income. And prices in Aberdeen are still at march 2007 levels

There are lots of places where you can buy on less than 4 times income. The reason is simple - no-one wants to live there.

HAMISH_MCTAVISH

biglugs wrote: »

There are lots of places where you can buy on less than 4 times income. The reason is simple - no-one wants to live there.

Completely agree, there are vast parts of the country where buying at 3.5 trimes income is still the norm.

Then there are some areas where lack of supply and high demand has driven prices through the roof.

Proving yet again that the reason for high prices is supply and demand, and with population forecast to increase by 12 million by 2050, and house building at a standstill, prices can only go one way over the mid to long term, and it aint down.....

geoffky

hamish...still a troll i see


hamish bought right bang on peak and is a little worried..

HAMISH_MCTAVISH

geoffky wrote: »

hamish...still a troll i see

Says the man who provides a running commentary on other sites of my current whereabouts and posts.

Hello pot, meet kettle......

Is it really that boring without me????:rotfl:

mewbie_2

HAMISH_MCTAVISH wrote: »

Is it really that boring without me????:rotfl:

I don't really see the point of your 'persona' - I guess you get a kick out of spouting meaningless untruths on a range of forums? That's the price of a free forum I guess, you've got to allow the idiots their say.

Spartacus_Mills

HAMISH_MCTAVISH wrote: »

Says the man who provides a running commentary on other sites of my current whereabouts and posts.

Hello pot, meet kettle......

Is it really that boring without me????:rotfl:

No but you are entitled to your opinion.

However if you are impersonating Sybil13 on some of the forums/newspaper threads which she claims you are - no evidence admittedly - then that is pretty petty and mean spirited.

HAMISH_MCTAVISH

Spartacus_Mills wrote: »

No but you are entitled to your opinion.

However if you are impersonating Sybil13 on some of the forums/newspaper threads which she claims you are - no evidence admittedly - then that is pretty petty and mean spirited.

:rolleyes:

Ah, so you come online, make wild accusations, then admit there is no evidence. Sybil??? Is that you?????:rotfl:

It wasn't me. I only have one online ID, everywhere I post I'm Hamish McTavish. Unlike Sybil who has a bit of a multiple (online) personality disorder.;)

I saw the thread on HPC though and it's admittedly quite funny. Whats funnier is that Sybil can't stop moaning about us bulls to the mods even after we leave. It's a bit obsessive to be honest.

I'm not sure if it's paranoia, insecurity, or if he/she/it is just a whiny attention wh*re. Still, good for a laugh either way.:D