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Debate House Prices
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£140Bn fund for small business and mortgage lending
Comments
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Osborne's set-piece speech last night was supposed to be about the banking reforms, and everybody was watching like a hawk for him caving in to the bank lobby and watering them down. The headlines were written. Those headlines are in the bin now. I don't know what he's done to the banking reforms, because nobody's talking about it today.Graham_Devon wrote: »Why now?"It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0 -
Seem to remember this strategy of printing money to put into the economy has worked pretty well in the past.
Pre war Germany and Zimbabwe spring to mind.0 -
Its not just meant for mortgages though is it? isnt the bulk supposed to be made available to small buisiness?
Cant help wondering however, where 145bn is comming from - are we as a country borrowing it? because I though all the pain we are going through is supposed to be to reduce the deficite. If NOT then wouldnt we be better paying off some of the countried debt with it? freeing up money from interest payments that could be invested year on year.0 -
paulmapp8306 wrote: »Its not just meant for mortgages though is it? isnt the bulk supposed to be made available to small buisiness?
Cant help wondering however, where 145bn is comming from - are we as a country borrowing it? because I though all the pain we are going through is supposed to be to reduce the deficite. If NOT then wouldnt we be better paying off some of the countried debt with it? freeing up money from interest payments that could be invested year on year.
The BoE are in effect just going to print it.
It does appear that they truly hate anyone who was prudent, and just wish to wipe out peoples life savings with inflation and low IRs.0 -
Osborne's set-piece speech last night was supposed to be about the banking reforms, and everybody was watching like a hawk for him caving in to the bank lobby and watering them down. The headlines were written. Those headlines are in the bin now. I don't know what he's done to the banking reforms, because nobody's talking about it today.
It's not a great source as it's the DM but on this page there is a little box part way down with an article about ministers watering down the banking reforms. Like you say it looks like that's been relegated a bit story.[FONT="]“I've learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.” ~ Maya Angelou[/FONT][FONT="][/FONT]0 -
I though the idea was that the Bank of England was going to accept mortgage securities for low interest loans that the banks would then lend on to businesses , 'Fanny Mae' style.
J_B.0 -
The BoE are in effect just going to print it.
It does appear that they truly hate anyone who was prudent, and just wish to wipe out peoples life savings with inflation and low IRs.
If I remember correctly wasn't the first lot of QE given to banks to be used by them for lending to make it easier for business and home buyers etc.?
As that plan seem to fail, as the banks sat on the money rather than lend, what exactly is different this time?
I can see the point if we are giving this money out to keep things running because of Euro crisis threat, but if the worst does happen and the Euro does implode surely the banks will just cling like dear life on to the money and not lend again.[FONT="]“I've learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.” ~ Maya Angelou[/FONT][FONT="][/FONT]0 -
I said a long time ago that the government would never allow house prices to crash.
This latest move by MK will ensure house prices rise.
The market will go mental once money is available.We love Sarah O Grady0 -
But the overdrafts that many small businesses use for working capital are very much at risk of being called in.I do not believe that mortgages can be "called in" under UK contract law, unless the borrower has defaulted.
Then you get small businessmen going round saying they can't understand why the bank is closing them down when they were doing well. But they were always sacrificial lambs - it was always in the plan that their loans were there to be called in quickly if the bank ran a bit short of liquidity."It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0 -
I cant see the housing market going mental anytime soon. Lower disposable income and job insecurities/unemployment will see to that REGARDLESS of how easy mortgagea are to actually get.
What it may well do is stop them actually gouing down - as so many seem to predict.0
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