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Debate House Prices


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Halifax to raise SVR

12346

Comments

  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    ILW wrote: »
    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.

    In 2000 UK mortgage funding was backed 100% by retail deposits. Between 2003 and 2007 around £600 billion was raised from the wholesale money markets. This is where the problem lies.

    As banks globally have deleveraged following the financial crisis of 2008. The wholesale money market has been contracting. Coupled with higher capital solvency requirements for banks. There's a squeeze which is returning borrowing (and savings) rates to a more normal level.
  • ruggedtoast
    ruggedtoast Posts: 9,819 Forumite
    julieq wrote: »
    In Devonomics, paying double the rate for half a house is a GOOD THING providing the price of diesel stays low. So if mortgage interest costs rise and prices fall and remortgaging is impossible then the Devonomics adherent wins big time due to increased muddle in the universe. Muddle is much more valuable than even SILVER.

    Meanwhile I just think it's funny that having bayed for rate rises for a long time, Graham is in the small group that's going to suffer from them. Props eh?:rotfl:

    Beastliness, just, beastliness.
  • Running_Horse
    Running_Horse Posts: 11,809 Forumite
    Part of the Furniture Combo Breaker
    Molehills and mountains.
    Been away for a while.
  • ruggedtoast
    ruggedtoast Posts: 9,819 Forumite
    MrRejoice wrote: »
    Oh get over yourself, it has nothing to do with beastliness. More like the vultures who have tried to prey on the misery of others to pick up a dream house on the cheap are simply getting a taste of their own medicine. Be careful what you wish for, and all that.

    Graham only says what most people think. That house prices are too high and he's unsure how they can continue.

    He who is angry at Graham, is angry at the world.

    Maybe you would have less anger if you restricted yourself to less sock puppet personalities.
  • PaulF81
    PaulF81 Posts: 1,727 Forumite
    MrRejoice wrote: »
    Oh get over yourself, it has nothing to do with beastliness. More like the vultures who have tried to prey on the misery of others to pick up a dream house on the cheap are simply getting a taste of their own medicine. Be careful what you wish for, and all that.


    Sorry mate, the house I got on a 30% discount is on a HSBC lifetime tracker so not a chance in hell my rate is changing until BOE rate goes up! :rotfl:
  • wymondham
    wymondham Posts: 6,356 Forumite
    Part of the Furniture 1,000 Posts Photogenic Mortgage-free Glee!
    ILW wrote: »
    SVRs were never directly linked to BoE rate.

    Indeed - this seems to have come as a shock to many people who assumed mortgage rates are dependant/linked to interest rates - they never have been (unless tracker type). Mortgage rates are set by banks who have a duty to their shareholders to make a good profit anyway they see fit.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    wymondham wrote: »
    Mortgage rates are set by banks who have a duty to their shareholders to make a good profit anyway they see fit.

    Our pension funds hold the shares. So we have a vested interest in the banks being run profitably.
  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Posts: 28,592 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Thrugelmir wrote: »
    Our pension funds hold the shares. So we have a vested interest in the banks being run profitably.

    Our pension funds hold Mortgage Backed Securities too.

    But that hasn't stopped people calling for house prices to crash....
    “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”
  • RUN_RABBIT_RUN
    RUN_RABBIT_RUN Posts: 426 Forumite
    ruggedtoast wrote: »
    He who is angry at Graham, is angry at the world.

    high praise indeed....
    'Be not deceived; God is not mocked: for whatsoever a man soweth, that shall he also reap.'
    GALATIANS 6: 7 (KJV)
  • Crabby_Cripple
    Crabby_Cripple Posts: 7 Forumite
    edited 21 July 2012 at 12:19AM
    I still have complaint running re Halifax 'goodwill' payments with ombudsman. Has anyone else???

    HELP OR ADVICE V WELCOME. DONT REALLY KNOW WHAT I'M DOING???
    :cool::rotfl::rotfl::rotfl::rotfl::EasterBun_party_:dance::wall:(:staradmin
This discussion has been closed.
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