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Halifax to raise SVR

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Comments

  • Pimperne1
    Pimperne1 Posts: 2,177 Forumite
    wymondham wrote: »
    It's interesting that this small rise from Halifax is on the main BBC website as a big story as well as front page on Daily Mail and others....... how times have changed, when this sort of thing occured on a monthly basis.....

    How many Halifax customers are looking shocked as they witness their very first rate rise on the table - I suspect many didn't even know rates could go up!

    Fashionable though it is on this and other sites to paint home owners as gullible, ignorant and !!!!less I suspect that you would find they are, on average, smarter than the average citizen.
  • wymondham
    wymondham Posts: 6,356 Forumite
    Part of the Furniture 1,000 Posts Photogenic Mortgage-free Glee!
    Pimperne1 wrote: »
    Fashionable though it is on this and other sites to paint home owners as gullible, ignorant and !!!!less I suspect that you would find they are, on average, smarter than the average citizen.

    Time will tell - I hope you're right, and that they have budgeted for all eventualities!
  • ess0two
    ess0two Posts: 3,606 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    wymondham wrote: »
    Time will tell - I hope you're right, and that they have budgeted for all eventualities!



    I've just taken out insurance against my house being hit by an asteroid,quite reasonable.
    Official MR B fan club,dont go............................
  • ILW
    ILW Posts: 18,333 Forumite
    It's still less than 4% !!!!!!!
  • wymondham
    wymondham Posts: 6,356 Forumite
    Part of the Furniture 1,000 Posts Photogenic Mortgage-free Glee!
    ILW wrote: »
    It's still less than 4% !!!!!!!

    yes, and the fact it is headline news tell us something i think... :)
  • UKFInotFFP
    UKFInotFFP Posts: 5 Forumite
    wymondham wrote: »
    yes, and the fact it is headline news tell us something i think... :)

    It's headline news because the BoE haven't changed the base rate.
  • ILW
    ILW Posts: 18,333 Forumite
    UKFInotFFP wrote: »
    It's headline news because the BoE haven't changed the base rate.

    SVRs were never directly linked to BoE rate.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    UKFInotFFP wrote: »
    It's headline news because the BoE haven't changed the base rate.

    Contrary to a common myth. The BOE doesn't fund the UK mortgage market, it never has done.

    Now that banks are deleveraging on the back of the exploitation of the fractional reserve banking system. The price of money is being determined by the markets again. As reliance on retail deposits (savers) to fund mortgages returns again.
  • ILW
    ILW Posts: 18,333 Forumite
    Thrugelmir wrote: »
    Contrary to a common myth. The BOE doesn't fund the UK mortgage market, it never has done.

    Now that banks are deleveraging on the back of the exploitation of the fractional reserve banking system. The price of money is being determined by the markets again. As reliance on retail deposits (savers) to fund mortgages returns again.
    Some guy on R4 was saying that this morning. May see some more competiton for savers deposits over the next year or so pushing rates higher.
  • UKFInotFFP
    UKFInotFFP Posts: 5 Forumite
    I didnt say that SVRs were linked to the base rate, or that the BoE funds the mortgage market. I said it was headline news because the BoE haven't changed their rate. Historically SVRs tracked the BoE Base Rate, and every move without a similar move by the BoE is headline news.
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