MSE News: Base rate held again as committee await emergency Budget

chucky

mbga9pgf wrote: »

well, lets see how much you can borrow in terms of salary multiples today shall we within 2% of base...

very unlikely in todays mortgage market - but you know this already

mbga9pgf wrote: »

Not many go over 3 times.

people don't get mortgages over 3 times income - wrong [again].
in the real world i could have borrowed at 5 times income last year at 4.69% for 5 years.
as long as you think it's the case, good for you.

mbga9pgf wrote: »

Enjoy paying the 40% they are going to take on your "profits" on your second home!!!!

i doubt it but why would i pay 40%? is this definetly coming in as law? are you 100% sure? how's Alt-A coming along - tick, tock

what's this got to do with the BOE holding base rates btw?

SimbaSimon

mbga9pgf wrote: »

You wont be laughing when the fiscal changes hit you... especially the 40% on second homes.

Hope the money you are saving now is going to make up for it.... :rotfl:

They can put it up to 100% for all I care, I only have 1 residential mortgage so won't affect me in the slightest.

JimmyTheWig

The trouble is, the longer they leave it low, the harder it's going to be when it goes back up again.

If they put it down and told people that it was just for, say, two months then everyone on a variable rate mortgage would have had "extra money" for those two months and most would have gone out and spent it.
They could have done the same thing again a few months later.

By now, however, people will have adjusted to the new rates.

chucknorris

chucky wrote: »

is this like the 3 times salary mortgage cap that you told us was 100% going to happen :T

Did he 'guarantee' it like some bears on here do?

mbga9pgf

chucky wrote: »

very unlikely in todays mortgage market - but you know this already

people don't get mortgages over 3 times income - wrong [again].
in the real world i could have borrowed at 5 times income last year at 4.69% for 5 years.
as long as you think it's the case, good for you.

i doubt it but why would i pay 40%? is this definetly coming in as law? are you 100% sure? how's Alt-A coming along - tick, tock

what's this got to do with the BOE holding base rates btw?

I actually asked how many were lending at above 3 times salary within 2% of base. If you are going to quote me, at least do it correctly.

chucky

mbga9pgf wrote: »

I actually asked how many were lending at above 3 times salary within 2% of base. If you are going to quote me, at least do it correctly.

the answer is very, very obvious because base rate is 0.5%...

what was your point?

andyroberts1967

JimmyTheWig wrote: »

The trouble is, the longer they leave it low, the harder it's going to be when it goes back up again.

If they put it down and told people that it was just for, say, two months then everyone on a variable rate mortgage would have had "extra money" for those two months and most would have gone out and spent it.
They could have done the same thing again a few months later.

By now, however, people will have adjusted to the new rates.

I adjusted to the new rates by making capital overpayments whilst renegotiating a better mortgage deal. When the rates do eventually rise, the only adjustment I will have to make is possibly reducing or stopping these overpayments.

mbga9pgf

chucky wrote: »

the answer is very, very obvious because base rate is 0.5%...

what was your point?

I got a mortgage within 2% of base. Multiple wouldnt go above 3.5X salary though...

chucky

mbga9pgf wrote: »

I got a mortgage within 2% of base. Multiple wouldnt go above 3.5X salary though...

so what you [STRIKE]preched[/STRIKE] [STRIKE]proclaimed[/STRIKE] celebrated here is total rollox then

House prices down to at least 115K... Thans FSA! 3X here we come!

mbga9pgf wrote: »

:beer:

http://www.propertyweek.com/story.asp?sectioncode=297&storycode=3136243&c=1




Taking the bulls imaginary average wage of 36K (Yeah, right....)
plus the 5% deposit, prices WILL crash to at least 115,000 average... this is before the effects of any recession (depression) are factored in.

:rotfl::rotfl::rotfl::rotfl::rotfl:

before we start to go on about the same stuff repeated THIS IS NEW!!!!!


Everyone dance along with bowie now...

http://www.youtube.com/watch?v=30AVhf-ZLwM

https://forums.moneysavingexpert.com/discussion/1560959

chucknorris

SimbaK2K wrote: »

Hooray! Heres to another month of record breaking low interest rates. :j

Drinks for all :beer:

Have one for me I'm on the wagon at the moment (at least when I am at home anyway) I tried to cut down but the fridge kept calling to me, so my only option is to not buy at the supermarket.