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Halifax Mortgages! SHOCKING NEWS
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HBOS has got 243 billion in deposits and is actually one of the strongest banks for savings... so i think they have the money. I understand from the news that they are expecting a challenging year and will use the rights issue to help them GROW in areas that are already tough in the banking world.0
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Easily justified (not that they have to). The cost of borrowing money is high so the cost of lending it is high. Plus the longer term trend is higher inflation and higher interest rates so fixed rate deals would have turned higher even if the credit crunch hadnt come. Just as they have done in every other interest rate cycle for the last few decades.How can they justify this ????? disgusting!I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
For the last few years mortgage margins have been so low that lenders have made very little profit on the money they have lent out.
They have huge potential for losses so rates are priced to make some profit, keep their staff in work (hence why direct rates are lower than broker rates).
Halifax will argue that they are one of the companies that have continued to lend, but it is on their terms.0
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