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Mortgage Interest Rates falling again
HAMISH_MCTAVISH
Posts: 28,592 Forumite
LONDON (SHARECAST) - Nationwide is cutting the cost of some fixed and tracker rate mortgages by as much as 0.5%, although only those with a 40% deposit and £995 fee will get the best deals.
Britain’s third largest mortgage lender will offer a four-year fix at 5.08%, down from 5.58% before, while a two-year tracker drops to 3.08 points above the 0.5% base rate.
The move will raise hopes that other lenders follow suit, but critics point out that first time buyers will still find it tricky to find such large deposits.
Andy McQueen, mortgage director at Nationwide, said: "We have a superb range of products for existing customers coming to the end of a Nationwide deal including two and three year fixed rates which are currently among the best in the market compared to remortgage deals offered by other lenders.”
"For these borrowers, we also offer a choice of capped variable rate mortgages from as little as 2.99%. These mortgages are ideal for borrowers who are uncertain about how interest rates will move in the future as they provide assurance that the mortgage rate will not rise above a certain level."
Deposit levels still too high for FTB's though.
“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”
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Comments
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HAMISH_MCTAVISH wrote: »Deposit levels still too high for FTB's though.
You mean for SOME FTBs.
As you and the other HPI cheerleaders keep reminding us, there will always be people who can't afford to buy.
Surely, this is just an example of that McTittish."The problem with quotes on the internet is that you never know whether they are genuine or not" -
Albert Einstein0 -
You mean for SOME FTBs.
As you and the other HPI cheerleaders keep reminding us, there will always be people who can't afford to buy.
.
:rolleyes:
Oh, they'll buy anyway, as doing so is far cheaper than renting for a lifetime, and would be even if prices doubled or tripled from todays values.
They'll just get stung by paying higher rates, and gain little or nothing from the crash.;)
Something you quite bizarrely seem to be in favour of......“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
Stop clutching at straws Mctittish.
HPI will not come to your rescue.
(by the way, you still haven't answered my question about the maintenance costs of your large detached rural property)."The problem with quotes on the internet is that you never know whether they are genuine or not" -
Albert Einstein0 -
HAMISH_MCTAVISH wrote: »:rolleyes:
Oh, they'll buy anyway, as doing so is far cheaper than renting for a lifetime, and would be even if prices doubled or tripled from todays values.
They'll just get stung by paying higher rates, and gain little or nothing from the crash.;)
Something you quite bizarrely seem to be in favour of......
Kinda feeling they're not buying really because they can't afford to (or at least this is what the transaction figures say so - excluded from market at present)Prefer girls to money0 -
LONDON (SHARECAST) - Nationwide is cutting the cost of some fixed and tracker rate mortgages by as much as 0.5%, although only those with a 40% deposit and £995 fee will get the best deals.
I stopped reading here, rates falling on 40% deposit mortgages ?, not many FTB'rs have that kind of deposit so isn't really going to up transactions to any extent. And FTB'rs need to ask themselves why 40% deposit ?, simple the bank want you to lose your money before they lose their own.0 -
The rates are still pretty hideous! 2.78% over boeBR? Frikk off!0
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I stopped reading here, rates falling on 40% deposit mortgages ?, not many FTB'rs have that kind of deposit so isn't really going to up transactions to any extent. And FTB'rs need to ask themselves why 40% deposit ?, simple the bank want you to lose your money before they lose their own.
And coupled with low rates on savings, they are basically stealing our money to pay their bonuses."The problem with quotes on the internet is that you never know whether they are genuine or not" -
Albert Einstein0 -
Seems BANKS are in a position of "Heads I win,tails you lose"
While they have their magic money making machine, yes.
This used to be my signature and is very appropriate here.............
"Banking was conceived in iniquity and was born in sin. The bankers own the earth. Take it away from them, but leave them the power to create money, and with the flick of the pen they will create enough deposits to buy it back again. However, take it away from them, and all the great fortunes like mine will disappear and they ought to disappear, for this would be a happier and better world to live in. But, if you wish to remain the slaves of bankers and pay the cost of your own slavery, let them continue to create money."
Josiah Stamp, former governor of the Bnak of England"The problem with quotes on the internet is that you never know whether they are genuine or not" -
Albert Einstein0 -
don't you have a 65% deposit and want a further crash to be able to buy outright.I stopped reading here, rates falling on 40% deposit mortgages ?, not many FTB'rs have that kind of deposit so isn't really going to up transactions to any extent. And FTB'rs need to ask themselves why 40% deposit ?, simple the bank want you to lose your money before they lose their own.
i used to like our posts ad, they were worth reading.
lately their just regurgitated desperation without backing
get back to discussing facts instead of you recent crap:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0
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