Mortgage Debt Arrears improving markedly

Graham_Devon

Mr._Pricklepants wrote: »

I wish you guys could make your mind up.
First I was Mr. Ree, then I'm Sibley, once I was nollag and now I'm a Reno sockie?

It's covered under "all other names".

Either way your someone hiding under a new name, as you knew so much as soon as you had arrived.

RenovationMan

Graham judges people by his own standards. He has a selection of sockpuppets and so expects that everyone else does too. I have to say though that it's particularly sad to create a sockie just to thank your own posts and those of your other sockies. That takes a special sort of obsessiveness. The same sort of obsessiveness that compels someone to make 41,779 posts on a forum, I suppose.

Weird.

ess0two

Graham_Devon wrote: »

If rates start to climb, do you think lenders will leave their low fixes available to buy?

Simple enough,you fix at a slightly higher rate than previously offered,aint that hard is it.

RenovationMan

ess0two wrote: »

Simple enough,you fix at a slightly higher rate than previously offered,aint that hard is it.

It's hardly rocket science is it?

Why some people can't grasp the idea that you can frequent economic forums, keep up to date with the financial press and base your financial judgements on this information, perhaps seeing a 'sea change' on the horizon and modifying your plans accordingly is beyond me.

I guess the whole idea that you can react to changing events rather than refusing to accept reality and stoically keeping to your 'beliefs' is beyond a group of people who consider people as being 'bearish' or 'bullish' for life.

Graham_Devon

ess0two wrote: »

Simple enough,you fix at a slightly higher rate than previously offered,aint that hard is it.

It might well be actually.

Look at all those who would "just switch" to a better interest only deal. Look at all those who would "just switch" to a better repayment deal, but no longer hit the requirements.

It's never as simple as you make out (and I honestly believe you know this). Will be even worse if interest rates rise and take banks by surprise.

To pretend that everything will simply carry on being rosy is silly really. Most of those who had plans to switch mortgages have seen their plans blown out of the water, for better or worse.

It's the same with domestic fuel, you don't wait around until british gas announces it's price hikes to fix at the better deal today, as the deal that was around yesterday won't be around when they announce the hikes.

You have to fix BEFORE the event.

ess0two

Graham_Devon wrote: »

It might well be actually.

Look at all those who would "just switch" to a better interest only deal. Look at all those who would "just switch" to a better repayment deal, but no longer hit the requirements.

It's never as simple as you make out (and I honestly believe you know this). Will be even worse if interest rates rise and take banks by surprise.

To pretend that everything will simply carry on being rosy is silly really. Most of those who had plans to switch mortgages have seen their plans blown out of the water, for better or worse.

??

You make even the easiest of tasks cumbersome.

It would'nt bother many fixing after the event.

System

I think what will happen is.

Rates go up a bit (0.5% perhaps)

People fix a little higher than they would have done previously.

Graham_Devon

ess0two wrote: »

??

You make even the easiest of tasks cumbersome.

It would'nt bother many fixing after the event.

That's because it is cumbersome.

You only have to look at the people now, stuck on SVR, who had all intentions of switching to see how cumbersome it is making airy fairy plans.

To be honest though, there really is no point in discussing it is there. You simply do not want to know and want only to listen to the other airy fairy views.

Graham_Devon

Joeskeppi wrote: »

I think what will happen is.

Rates go up a bit (0.5% perhaps)

People fix a little higher than they would have done previously.

There will be a mad rush to fix....that will be the problem. Lenders won't be able to supply the demand.

When everyone has exactly the same idea (which many currently do), the idea won't work. We saw that with the interest only stuff, where everyone would just switch and now find themselves up !!!!!! creek.

IveSeenTheLight

Graham_Devon wrote: »

That's because it is cumbersome.

You only have to look at the people now, stuck on SVR, who had all intentions of switching to see how cumbersome it is making airy fairy plans.

To be honest though, there really is no point in discussing it is there. You simply do not want to know and want only to listen to the other airy fairy views.

Do you have some statistics to show how many are 'stuck' on SVR?

I had an SVR mortgage for some time, but was not stuck.
It simply wasn't prudent for me to fix / go on to a tracker at the time.