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Debate House Prices


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I'm not buying

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Comments

  • Dan:_4
    Dan:_4 Posts: 3,795 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Procrastinator333 wrote: »

    Ultimately, it is a personal preference, probably driven in the main by the point in life at which you find yourself. Never going to reach an agreement on this.

    Totally agree with this.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Dan: wrote: »
    If your sitting on a variable, you would currently be benefiting from low mortgage repayments, so there will be a margin for increase to get back to what you were paying in 2007/2008.

    The announcement by Skipton BS this week is further evidence that the market is turning.

    Fixed rates will follow.
  • Dan:_4
    Dan:_4 Posts: 3,795 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Thrugelmir wrote: »
    The announcement by Skipton BS this week is further evidence that the market is turning.

    Fixed rates will follow.

    Very small building societies have had a high SVR throughout this mess.

    The big boys will raise their SVR when the base rate is on the upwards, and when this happens the demand for fixed rate products will return, and so will high street competition.
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    Thrugelmir wrote: »
    The announcement by Skipton BS this week is further evidence that the market is turning.

    Fixed rates will follow.
    you mean to say the market is turning for building societies who's outdated business model can't work in periods of low Libor ratess and low BOE rates
  • Mr.Brown_4
    Mr.Brown_4 Posts: 1,109 Forumite
    chucky wrote: »
    you mean to say the market is turning for building societies who's outdated business model can't work in periods of low Libor ratess and low BOE rates
    That old outdated model! People save, so that others can borrow. You're right, it will never catch on.
  • Dan:_4
    Dan:_4 Posts: 3,795 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Mr.Brown wrote: »
    That old outdated model! People save, so that others can borrow. You're right, it will never catch on.

    Welcome to the 21st Century.
  • Mr.Brown_4
    Mr.Brown_4 Posts: 1,109 Forumite
    Dan: wrote: »
    Welcome to the 21st Century.
    Are you unaware of what the new method did to the banking system? B&B, Northern Rock, Lehmans, etc? Prior to the nonsense these societies had been around for hundreds of years. Tried and tested matey.

    Of course, interest rates at record lows is a problem for many. But the game isn't over yet - let's see what we have in a few years time eh?
  • Dan:_4
    Dan:_4 Posts: 3,795 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Mr.Brown wrote: »
    Are you unaware of what the new method did to the banking system? B&B, Northern Rock, Lehmans, etc? Prior to the nonsense these societies had been around for hundreds of years. Tried and tested matey.

    Of course, interest rates at record lows is a problem for many. But the game isn't over yet - let's see what we have in a few years time eh?

    Building societies are history matey.

    The days of salary multiple lending, relationship with a bank manager, interviews before mortgages etc will not return.

    Affordability and squeaky clean credit reports are the future.
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    edited 24 January 2010 at 7:14PM
    Mr.Brown wrote: »
    That old outdated model! People save, so that others can borrow. You're right, it will never catch on.
    it's time for you to Google Basel II... and it's not something your Mrs has in the greenhouse...

    building societies don't work with low interest rates
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    chucky wrote: »
    you mean to say the market is turning for building societies who's outdated business model can't work in periods of low Libor ratess and low BOE rates

    Hardly outdated. Very possibly the way forward.

    Its the Building Societies that demutalised to be become banks twere the ones that failed with their business models.

    In fact none now remain, other than in brand name or propped up by the taxpayer.

    Banks themselves need deposits themselves not low interest rates.
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