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Debate House Prices


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No base rate rises for at least a year.. maybe 2 or 3 years

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Comments

  • abaxas
    abaxas Posts: 4,141 Forumite
    NOTE :

    Lots of trackers do NOT track the abse rate they track BBR which is a made up number what usually tracks BOE base rate.
  • Charterhouse
    Charterhouse Posts: 296 Forumite
    HAMISH_MCTAVISH wrote: »
    Ooooh, someone's a bit peeved that their prognostications have turned out to be so very badly wrong.......:rotfl:

    My prognostication that housing would be broadly flat? Looks pretty accurate so far. I think you're mistaking me for the "housing is going down 50%" crowd.

    Almost everywhere I have looked, which is a fair few areas across London and the SE, you can still buy with a healthy discount to offer price and there is a huge build up of housing stock at unrealistic prices. It's only in supremely high quality areas that there isn't enough supply and that's because there's never enough supply in, for example, Chelsea, Islington, or various parts of Clapham. If you want to buy there, you end up paying up. Supply is almost always limited whereas demand appears insatiable. In the vast majority of the country that isn't the case.
  • Really2
    Really2 Posts: 12,397 Forumite
    10,000 Posts Combo Breaker
    edited 12 May 2010 at 3:33PM
    abaxas wrote: »
    NOTE :

    Lots of trackers do NOT track the abse rate they track BBR which is a made up number what usually tracks BOE base rate.

    But my baby does for life....;) It always states if it is a BOE tracker or a tracker of their own base rate.
    If you don't check you deserve the extra costs.
  • abaxas
    abaxas Posts: 4,141 Forumite
    Really2 wrote: »
    But my baby, does for life....;) It always states if it is a BOE tracker or a tracker of their own base rate.
    If you don't check you deserve the extra costs.

    Agreed,

    I wonder what the Ocwen (old subprime lender that became GE money) base rate is now?

    Probably whatever they like :P
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    abaxas wrote: »
    Agreed,

    I wonder what the Ocwen (old subprime lender that became GE money) base rate is now?

    Probably whatever they like :P
    to be fair i've got a mortgage with Mortgage Express and theirs is 1.5% over BOE rate for life

    i don't think they'll be charging whatever they like.
  • abaxas
    abaxas Posts: 4,141 Forumite
    chucky wrote: »
    to be fair i've got a mortgage with Mortgage Express and theirs is 1.5% over BOE rate for life

    i don't think they'll be charging whatever they like.

    My point is that not all trackers track BOE base rate. Nothing else!
  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Posts: 28,592 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    abaxas wrote: »
    My point.....!

    Was pointless.
    “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”
  • Harry_Powell
    Harry_Powell Posts: 2,089 Forumite
    nembot wrote: »
    Only Mervyn King can accurately provide information in regards to potential interest rate rises. The balancing act is increasing IR (which is a requirement) and not impacting the economy further.

    Why is it a requirement that interest rates go up? (I mean a requirement from a UK economic standpoint, not from the standpoint of helping out savers or HPCers).
    "I can hear you whisperin', children, so I know you're down there. I can feel myself gettin' awful mad. I'm out of patience, children. I'm coming to find you now." - Harry Powell, Night of the Hunter, 1955.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    chucky wrote: »
    to be fair i've got a mortgage with Mortgage Express and theirs is 1.5% over BOE rate for life

    i don't think they'll be charging whatever they like.

    If there is legal action against the Skipton BS as has been mooted. The judgement could have a profound effect on the low lifetime BOE base trackers with other lenders.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Harry_Powell wrote: »
    Why is it a requirement that interest rates go up? (I mean a requirement from a UK economic standpoint, not from the standpoint of helping out savers or HPCers).

    Investors will demand a higher rate to reflect risk perception, and retail lenders compete for depositors money. While BOE base may not change.
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