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BoE votes to keep mortgage rates at 0.5% and other mortgage news
Comments
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Thrugelmir wrote: »Lenders are less interested in under 60% LTV business.
WHAT?!
No-one has pulled you up on that? Jesus, that is total bullcrap. Lenders will do anything for less than 60% LTV business.The J is a Financial Advisor-This site doesn't check anyone's status and as such any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Always seek professional advice.0 -
I'm not sure it's really valid to compare May remortgaging to total mortgage debt and conclude it's insignificant.
Reflects declining activity levels. As those that are exiting fixed term products commenced some years ago reduce in numbers.
To put matters in perspective HSBC's gross lending target this year is £12 billion (excluding FTB's). So lenders aren't actively seeking business either.0 -
IveSeenTheLight wrote: »Not my shock, the title of the link I made.
It was the first time since 1997, so very interesting to say the least.
Agree.
These figures are purely from the BBA. So taking all lenders into account the figure could be significantly higher.
The next BOE quarterly credit report will give a better picture of the trend.0 -
Thrugelmir wrote: »Reflects declining activity levels. As those that are exiting fixed term products commenced some years ago reduce in numbers.
To put matters in perspective HSBC's gross lending target this year is £12 billion (excluding FTB's). So lenders aren't actively seeking business either.
Fair enough. That's better perspective than saying remortgaging is insignificant because May's remortgaging figure is approaching zero % of total mortgage debt.0 -
Thrugelmir wrote: »In May remortgaging amounted to £3.1 billion. Out of a total mortgage debt in excess of £1,200 million. So fairly insignificant.
Remortgaging in volume terms has reduced as lenders have progressively tightened their rules on equity withdrawl ( i.e. for debt consolidation and for the purpose of buying second homes).
Come one now.
Let's take the data in context.
How many have not remortgages and are sitting on low SVR's as a result of the interest rate.
No wonder it's a small percentage at present.
Role forward a few years when the rate starts to rise and you may find quite a bit of people remortgaging off of SVR and onto fixes.:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
IveSeenTheLight wrote: »Role forward a few years when the rate starts to rise and you may find quite a bit of people remortgaging off of SVR and onto fixes.
Remortgaging is switching a different lender not merely changing product.0 -
No-one has pulled you up on that?
If we pulled thrug up on all of his strange posts, we'd do nothing else all day. I gave Thrug the nickname "Random" because of the random nature of his posts and logic contained therein.
A typical discussion with Thrug (as can be seen with my interaction with him on this thread):
Poster: "The sky seems to be quite blue today, hopefully we'll be in for some hot weather over the next few days".
Thrug: "You're wrong, weather patterns in the Miocene epoc of the Neogene period followed the Oligocene Epoch and into the Pliocene Peoc as is cooled into a series of ice ages.
Poster: "Eh?? What on earth has that got to do with my post?"
Thrug, "You said that the Miocene boundaries are not marked by a single distinct global event but consist rather of regional boundaries between the warmer Oligocene and the cooler Pliocene, I was correcting you.
Poster: "No I didn't."
Thrug: <silence>
Poster: "Hmnn, keep taking the Meds, sweetheart." :rotfl:0 -
Thrugelmir wrote: »Remortgaging is switching a different lender not merely changing product.
I honestly don't have a clue what point you're trying to make.
First stating LTV is irrelevant, now this.0 -
Mr._Pricklepants wrote: »I honestly don't have a clue what point you're trying to make.
First stating LTV is irrelevant, now this.
Seems its you that requires financial education.
0 -
Thrugelmir wrote: »Seems its you that requires financial education.
Answer the question instead of coming out with smartar8e replies then.
We'll help you find the plot you lost.0
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