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Mortgage lending plummets to 10-year monthly low...

245

Comments

  • Really2
    Really2 Posts: 12,397 Forumite
    10,000 Posts Combo Breaker
    edited 21 September 2010 at 8:49AM
    StevieJ wrote: »
    You are hardly likely to re-mortgage if you are on a BR linked mortgage icon7.gif mine is BR + 0.95% BTW.

    I cant say it, its too low.............................. Oh go on then BOE BR + 0.49% for life.
  • Really2
    Really2 Posts: 12,397 Forumite
    10,000 Posts Combo Breaker
    Joeskeppi wrote: »
    When the BoE eventualy raise the IR by the smallest amount I bet remortgaging explodes.

    Could not agree more the mere hint of base rate increasing is going to see lots of people jump ship.
  • lemonjelly
    lemonjelly Posts: 8,014 Forumite
    1,000 Posts Combo Breaker Mortgage-free Glee!
    Really2 wrote: »
    I cant say it, its too low.............................. Oh go on then BOE BR + 0.49% for life.

    Smug git!:D
    It's getting harder & harder to keep the government in the manner to which they have become accustomed.
  • Really2
    Really2 Posts: 12,397 Forumite
    10,000 Posts Combo Breaker
    edited 21 September 2010 at 9:03AM
    lemonjelly wrote: »
    Smug git!:D

    TBF I have been one all my life (and a lot of other things apparently).:)
    Better to be a smug git than just a git I say. :)
  • lemonjelly
    lemonjelly Posts: 8,014 Forumite
    1,000 Posts Combo Breaker Mortgage-free Glee!
    Really2 wrote: »
    TBF I have been one all my life (and a lot of other things [STRIKE]apparently[/STRIKE] definitely).:)
    Better to be a smug git than just a git I say. :)

    Fixed it for you mate...:D

    In all seriousness, you either made an excellent call, got very lucky, or a combination of both. Make hay whilst the suns shines.

    Wish I was that lucky.:)
    It's getting harder & harder to keep the government in the manner to which they have become accustomed.
  • Really2
    Really2 Posts: 12,397 Forumite
    10,000 Posts Combo Breaker
    edited 21 September 2010 at 9:27AM
    lemonjelly wrote: »
    Fixed it for you mate...:D

    In all seriousness, you either made an excellent call, got very lucky, or a combination of both. Make hay whilst the suns shines.

    Wish I was that lucky.:)

    Saw rates were going to fall (applied sept 2008), took a £2K (it could have been £2.5K?) hit to move products (redemption & product fee).
    Thought rates were going to be around 2% for some time and wanted a life time product so i got my product/redemption fees back (EG otherwise you would have 5X 5 year remortgage fees for the life of mortgage etc.)

    So tiny bit of judgment, a lot of luck, and a fair risk at the time I could have just ended up £2K out of pocket (my fix at the time was 4.79% base rate was 5%).
    The biggest piece of luck was the lender keeping the rate, we never completed until after base rate fell to 3% Nov 2008. They pulled it about a week or so after they had received our application.
  • sarkin1
    sarkin1 Posts: 283 Forumite
    Part of the Furniture Combo Breaker
    StevieJ wrote: »
    Do we have this discussion every month? is this the one about lending hasn't gone down it just has not gone up as much as last time icon7.gif

    Mate what is says is the market is screwed, over 20,000 brokers have deauthorised since 2007 and are now no longer in the industry.
    :cool:
  • IveSeenTheLight
    IveSeenTheLight Posts: 13,322 Forumite
    nearlynew wrote: »
    House prices are continuing their inevitable fall.............

    Those figures are just spin and bullsh1t

    100% gauranteed ;)
    :wall:
    What we've got here is....... failure to communicate.
    Some men you just can't reach.
    :wall:
  • shortchanged_2
    shortchanged_2 Posts: 5,546 Forumite
    Heyman wrote: »
    There's nothing quite like a good, balanced article like that from the Daily Fail to brighten up my morning.

    What I don't understand is why such a staunch Tory supporting paper is publishing bad news on the economy.
    Why are we here?......................because we are not all there.
  • IveSeenTheLight
    IveSeenTheLight Posts: 13,322 Forumite
    Really2 wrote: »
    I cant say it, its too low.............................. Oh go on then BOE BR + 0.49% for life.
    I wish I had a mortgage product like that.

    I was on BR + 0.26% but it has since reverted to SVR which is BR + 1.1%
    :wall:
    What we've got here is....... failure to communicate.
    Some men you just can't reach.
    :wall:
This discussion has been closed.
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