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Whinging.

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Comments

  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    HAMISH_MCTAVISH wrote: »

    What people object to is the current situation, where trapped SVR borrowers are exploited with exorbitant record high bank margins, (4% or so above base) whilst new borrowers are able to access rates that reflect the cost of funding plus a decent profit. ie, 2% margins above base.

    Where can someone on a 90% LTV get a mortgage with a rate of 2.5%?

    That's a new one on me.
  • RenovationMan
    RenovationMan Posts: 4,227 Forumite
    Graham_Devon wrote: »
    You stated there were plenty of options for people on SVR. I'm wondering what they are.

    Dear me Graham, you really need to learn a bit about finances if you are going to continue to post on this board. One would have thought you'd know this by now, but hey ho...

    Mortgage alternatives to SVR:

    1. Tracker mortgages.
    2. Fixed rate mortgages.
    3. Capped mortgages.
    4. Discounted mortgages.

    Here is a handy guide for you that explains about mortgages:

    http://news.bbc.co.uk/1/hi/business/480121.stm
  • chucknorris
    chucknorris Posts: 10,795 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    RenovationMan wrote: »
    Dear me Graham, you really need to learn a bit about finances if you are going to continue to post on this board. One would have thought you'd know this by now, but hey ho...

    Mortgage alternatives to SVR:

    1. Tracker mortgages.
    2. Fixed rate mortgages.
    3. Capped mortgages.
    4. Discounted mortgages.

    Here is a handy guide for you that explains about mortgages:

    http://news.bbc.co.uk/1/hi/business/480121.stm

    I realise that not everyone can do it, but there is also the option to pay off the mortgage too.

    My wife has recently done that on her last non tracker mortgage (obviously you don't pay off low margin boe trackers), she waited until her discounted mortgage period ended and paid it off before the lender put her onto a SVR mortgage.
    Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop
  • Brallaqueen
    Brallaqueen Posts: 1,355 Forumite
    Oh joy. No +1 above BOE tracker here so I have not been 'paying peanuts' over the last few years.

    I'm also single, work full time in a low paid role and, most importantly, childless so no credits, benefits or additonal help in any way.

    Jeez, it is not a good time for people like me.
    Emergency savings: 4600
    0% Credit card: 1965.00
  • ILW
    ILW Posts: 18,333 Forumite
    Brallaqueen wrote: »
    Oh joy. No +1 above BOE tracker here so I have not been 'paying peanuts' over the last few years.

    I'm also single, work full time in a low paid role and, most importantly, childless so no credits, benefits or additonal help in any way.

    Jeez, it is not a good time for people like me.

    What rate have you been paying?

    Is it lower than you would have expected say five years ago?
  • Brallaqueen
    Brallaqueen Posts: 1,355 Forumite
    ILW wrote: »
    What rate have you been paying?

    Is it lower than you would have expected say five years ago?


    Over 7%. Five years ago I would probably have been given a 120% mortgage on interest only, not an option when I came to buy (it took me 5 years just to save the 10% deposit).

    I feel I was punished for never having been bitten by the easy credit bug - no credit cards/catalogues/hire purchases - as well as being a single applicant on sub 20k wages.

    On the other hand, I know I am lucky to even have a flat at all, as traditionally people in my situation have been at the bottom of the property heap. But still feel grumpy about this whole thing. :(
    Emergency savings: 4600
    0% Credit card: 1965.00
  • shortchanged_2
    shortchanged_2 Posts: 5,546 Forumite
    chucknorris wrote: »
    There is no way that RenoMan and Hamish are the same poster, surely you can see that?
    :rotfl:Thanks for that. Misread something somewhere. I will delete my previous post.
    Why are we here?......................because we are not all there.
  • ILW
    ILW Posts: 18,333 Forumite
    Brallaqueen wrote: »
    Over 7%. Five years ago I would probably have been given a 120% mortgage on interest only, not an option when I came to buy (it took me 5 years just to save the 10% deposit).

    I feel I was punished for never having been bitten by the easy credit bug - no credit cards/catalogues/hire purchases - as well as being a single applicant on sub 20k wages.

    On the other hand, I know I am lucky to even have a flat at all, as traditionally people in my situation have been at the bottom of the property heap. But still feel grumpy about this whole thing. :(
    You cannot be on SVR then.
  • chucknorris
    chucknorris Posts: 10,795 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    shortchanged wrote: »
    :rotfl:Thanks for that. Misread something somewhere. I will delete my previous post.

    I'll delete my post then, I thought that you were implying one was a sockie.
    Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop
  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    RenovationMan wrote: »
    Dear me Graham, you really need to learn a bit about finances if you are going to continue to post on this board. One would have thought you'd know this by now, but hey ho...

    Mortgage alternatives to SVR:

    1. Tracker mortgages.
    2. Fixed rate mortgages.
    3. Capped mortgages.
    4. Discounted mortgages.

    Here is a handy guide for you that explains about mortgages:

    http://news.bbc.co.uk/1/hi/business/480121.stm

    LOL, that's a no then....you can't actually show me a product that people would qualify for.

    That would have been a much more civilised answer.
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