Nationwide caps ALL mortgages at 4.75x income

Thrugelmir

ruggedtoast wrote: »

It is almost inconceivable that interests rates will rise.

I simply will not believe it. Even if it happens.

Which it wont.

Very much depends on how the economy performs.

danothy

Bantex wrote: »

Mad thing is that £475k will not even get you a 3 bed terrace in most of Greater London.

But you wouldn't be getting a 100% mortgage anyway. You'd be looking at more like £525k+ with a deposit.

wymondham

ruggedtoast wrote: »

It is almost inconceivable that interests rates will rise.

I simply will not believe it. Even if it happens.

Which it wont.

They will rise - Carney says so, just not yet..... hang on, sorry that was yesterday, now I'm not sure ... did he say they will rise, or not, or just not yet??? At least we can be sure he won't hesitate to change rates....


anyway lots of stories today about X amount of people not even being able to cope with a gradual rise.... no wonder he sways!

Graham_Devon

wymondham wrote: »

They will rise - Carney says so, just not yet..... hang on, sorry that was yesterday, now I'm not sure ... did he say they will rise, or not, or just not yet??? At least we can be sure he won't hesitate to change rates....


anyway lots of stories today about X amount of people not even being able to cope with a gradual rise.... no wonder he sways!

He actually stated something quite concrete yesterday at a conference.

Something he won't and can't go back on.

He stated that rates will rise.... "when they rise".

He stated that business understand the forward guidance and that rate rises themselves will be based on "the data" as the data changes, but "rates will need to rise".

However, as solid as this forward guidance is, there's a disclaimer. "Headwinds" may provide a different course going forward.

The telegraph morphs into the dailymash based on this, here: http://www.telegraph.co.uk/finance/economics/10985991/Mark-Carney-rates-must-rise-to-avoid-housing-bubble.html

danothy

wymondham wrote: »

At least we can be sure he won't hesitate to change rates....

Intentional inaction is as proactive as intentional action. By that measure he hasn't hesitated to leave them where they are while they should be there.

wymondham

danothy wrote: »

Intentional inaction is as proactive as intentional action. By that measure he hasn't hesitated to leave them where they are while they should be there.

sounds like a George Bush comment .... I know what you mean though!


I'm going to use the 'intentional inaction' view during my work and see how far I get.. ;-)

wymondham

What would occur if the Government put a 3 x joint income rule in .... total chaos?

danothy

wymondham wrote: »

I'm going to use the 'intentional inaction' view during my work and see how far I get.. ;-)

If the do nothing scenario is the appropriate choice then you'll presumably go far. The real test of ability is in picking the tactic with consideration to the goal, however, rather than just picking the tactic.