Funding for Lending on mortgages is ended

chucky

Graham_Devon wrote: »

Hehe.

You're right it is funny that you've avoided the question and try to make out people are attacking you to avoid answering.

Do you want to answer the question or play dumb?

chucky wrote: »

Being delighted at house prices potentially staying flat isn't really a "some big old consequences", unless you think this action will make house prices fall.

Is that what you are expecting to happen, house price falls?

TheFactory

Graham_Devon wrote: »

All I said was that I'm delighted. I've not said why.

Please, enlighten us.

Graham_Devon

TheFactory wrote: »

Please, enlighten us.

Because we will finally start seeing the market for what it actually is, as I've already stated. Pricing of mortgages and savings accounts will start the long road of starting to get back to normality and offering true cost rates...whatever they may be.

Competition will once again be able to take hold. Risk will once again fall on the lenders for normal mortgages (say normal, as I need to exclude HTB mortgages).

Loughton_Monkey

:T:rotfl:

Post #20 boasts that you haven't said why!

When asked for reasons, Post #24 says:

Graham_Devon wrote: »

Because we will finally start seeing the market for what it actually is, as I've already stated.

Who needs Morcambe and Wise?

DervProf

So, the new man does appear to want to keep HPI "in check". Blimey, let's hope he means it.

If his predecessor had bothered, funding for lending may not have been required in the first place.

drc

FFL reduced interest rates on savings. Most older voters (who are likely to vote Conservative) already own their own home but have been badly hit by low interest rates. If interest rates go up, then they will obviously be happier (and better off). HTB pushes up house prices so oldies with assets will be happy, so obviously this is not ending. Perhaps this is a early sweetener to lure lots of older voters to (return to) voting Conservative?

Thrugelmir

Graham_Devon wrote: »

Because we will finally start seeing the market for what it actually is, as I've already stated. Pricing of mortgages and savings accounts will start the long road of starting to get back to normality and offering true cost rates...whatever they may be.

Competition will once again be able to take hold. Risk will once again fall on the lenders for normal mortgages (say normal, as I need to exclude HTB mortgages).

Reading the small print. The main beneficaries of FLS were 5 smaller lenders. The amounts drawn down by the larger lenders wasn't material to their overall mortgage funding. Although FLS will close on 31st December. Lenders still have a further window in which to utilise the funds drawn down. So lenders can obtain further funds still.

Seems more a case of an orderly exit. As like the HTB schemes only temporary in nature. Yet people expect them to run indefinately.

Rinoa

drc wrote: »

FFL reduced interest rates on savings. Most older voters (who are likely to vote Conservative) already own their own home but have been badly hit by low interest rates. If interest rates go up, then they will obviously be happier (and better off). HTB pushes up house prices so oldies with assets will be happy, so obviously this is not ending. Perhaps this is a early sweetener to lure lots of older voters to (return to) voting Conservative?

Indeed. HTB will still increase house prices and we boomers will see better returns on our savings.

I'm delighted. [FONT=&quot] [/FONT]

Conrad

Graham_Devon wrote: »

Least we all have something meaty to talk about!

This is a big old change with, maybe, some big old consequences.

Can't say I'm not delighted

Well I'm still planning on buying regardless, long term view and all that.

I liken FFL to jump starting a car.

Conrad

Graham_Devon wrote: »

Because we will finally start seeing the market for what it actually is, as I've already stated. Pricing of mortgages and savings accounts will start the long road of starting to get back to normality and offering true cost rates...whatever they may be.

Competition will once again be able to take hold. Risk will once again fall on the lenders for normal mortgages (say normal, as I need to exclude HTB mortgages).

This is precisely what any thinking person would expect though so I don't see this in any sense other than the normal course of events we would expect.


I'm finding B2L busier than ever and all of them take a long term view, this wont make any difference really.