Debate House Prices
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Now, for some GOOD news....

mbga9pgf
Posts: 3,224 Forumite
http://www.telegraph.co.uk/finance/economics/8229465/Homeowners-cut-mortgage-debt-by-the-most-in-over-a-year.html
Anyone think the gypsies warnings dished out by the BOE are FINALLY having an effect? I bet this increases significantly over the next few months. We have personally paid down 10K of our mortgage capital in the past 6 months, and are on track to pay down an additional 37K over the next 2 years.
About bl00dy time.
Be interesting to see how much of a rate rise equates to current overpayments, think its a 2.4% rise, not much, and certainly not the 5% that was spouted by the BOE of late.
British homeowner cut the outstanding mortgage debt by £6.1bn in the three months to the end of September, encouraged by record low interest rates and fears of tough times ahead.
Anyone think the gypsies warnings dished out by the BOE are FINALLY having an effect? I bet this increases significantly over the next few months. We have personally paid down 10K of our mortgage capital in the past 6 months, and are on track to pay down an additional 37K over the next 2 years.
About bl00dy time.
Be interesting to see how much of a rate rise equates to current overpayments, think its a 2.4% rise, not much, and certainly not the 5% that was spouted by the BOE of late.
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Comments
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Who is the 'homeowner' they are referring to. Is it Roman Abramovich or Richard Branson?0
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shortchanged wrote: »Who is the 'homeowner' they are referring to. Is it Roman Abramovich or Richard Branson?
Is it a trick question? The homeowner was British so it must be Richard Branson. He must have some pad.0 -
I thought this was another one about the cricket....
Debt repayments aren't necessarily a good thing. They're good for the individual but bad for the economy as a whole.0 -
Personally, they may be bad for the economy as a whole Gen, but that indicates to me the economy needs reconfiguring, not that downpayment of debt is a bad thing.0
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Is it a trick question? The homeowner was British so it must be Richard Branson. He must have some pad.
Oh, I thought Abramovich was an honorary Britisher now. :rotfl:0 -
Personally, they may be bad for the economy as a whole Gen, but that indicates to me the economy needs reconfiguring, not that downpayment of debt is a bad thing.
I agree. Debt is too high. Government debt is waaaay too high.
Some level of debt is very helpful for an economy. Being able to borrow capital at 10% and use it to turn a 20% profit is great.0 -
I always thought the lowering of base rates was to try encourage people to spend not save??MF aim 10th December 2020 :j:eek:MFW 2012 no86 OP 0/20000
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Government debt is waaaay too high.
By historical standards, government debt is not particularly high.“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”0 -
HAMISH_MCTAVISH wrote: »By historical standards, government debt is not particularly high.
It is if you are not recovering from or planning a war.0 -
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