Two more building societies increase interest rates

puddy

maybe i havent grasped the facts up until now, i thought that everyone was on really low rates, how come variable rates are so high in comparison with the base rate? im on a fixed rate for the next 100 years and was kicking myself because its 4.89, jealous of everyone else cos i thought that they were paying about 1 or 2 percent, seems like they were probably paying about the same as me then??

where did all the talk of people being on really low rates come from then,, were these just trackers??

Thrugelmir

chucky wrote: »

who mentioned overnight Libor?

did you not know that Libor goes out to 12 months?

obviously not

So Lloyds Bank (for example) funds a £350 billion mortgage loan book on the the back of 1 year funds borrowed other banks?

It doesn't primarily use the money to balance its books on a daily basis to comply with Regulatory Liquidity requirements.

Charterhouse

jenner wrote: »

where did all the talk of people being on really low rates come from then,, were these just trackers??

A lot of the mortgage written over the past 5 years were some form of "lifetime" product that was either based on base rate plus a (usually small) spread, or was a fixed rate for a certain number of years then reset to base rate plus a sensible spread. For example my fixed rate rolls onto base rate + 0.90% in June 2011. I think these are the sorts of products that have resulted in some very low rates, as well as the Nationwide and C&G SVRs which are still, depending on your product, tied to base rate + 0.5%.

carolt

Harry_Powell wrote: »

Then why did you not post a discussion on how you felt that the SVR changes for these two building societies would impact the housing market? Just posting news articles for other people to comment about seems a little trite. If, as you state here and elsewhere, that you enjoy discussing how events impact the economy and house market, then why don't you join in the discussion yourself?

Whay also, do you only seem to post details on negative events? Surely positive news stories also impact the movement of house prices and affect the economy? If, as you say, you're interested in discussing economic cause and effects, why do you take such a slanted approach?

Harry, I'd just like you to know that I feel really personally wounded by your comments and perceived lack of faith in my good intentions.

Harry_Powell

carolt wrote: »

Harry, I'd just like you to know that I feel really personally wounded by your comments and perceived lack of faith in my good intentions.

Oh, I'm sure you'll get over it soon, carolt.

undetterred

Harry_Powell wrote: »

Oh, I'm sure you'll get over it soon, carolt.

PMSL she must be mellowing

carolt

Harry_Powell wrote: »

Oh, I'm sure you'll get over it soon, carolt.

An apology would be nice.

I'm so hurt that you try to turn my nice thread on interest rates into a personal attack on me.

You have no idea how upsetting it is.

chucky

carolt wrote: »

An apology would be nice.

I'm so hurt that you try to turn my nice thread on interest rates into a personal attack on me.

You have no idea how upsetting it is.

come on Carol - it wasn't that bad...

can you remember what you said to me the other day?

carolt wrote: »

I'd be extraordinarily surprised if chucky was offended. I think he's made of sterner stuff.

i thought that you were made of sterner stuff too

Harry_Powell

chucky wrote: »

come on Carol - it wasn't that bad...

can you remember what you said to me the other day?

i thought that you were made of sterner stuff too

My post was simply a series of questions. Carolt decided to avoid answering by playing her somewhat overused 'victim' card, it's her perogative, but it does reveal an awful lot.

Oh well, thus ends another discussion.

carolt

chucky wrote: »

come on Carol - it wasn't that bad...

can you remember what you said to me the other day?

i thought that you were made of sterner stuff too

Maybe I am.

Harry fell for it, though.

Anything to lighten the tedium.

Have a good day, lads.