Credit crunch is over...

Zammo

...not!

http://www.independent.co.uk/news/business/news/halifax-hikes-home-loan-rates-in-20th-set-of-changes-this-year-851650.html

Halifax hikes home loan rates in 20th set of changes this year


Halifax, the UK's biggest mortgage lender, will hike the rates on its home loans by up to another 50 basis points today, forcing remortgaging homeowners and first-time buyers to shell out even more on their monthly payments.

:beer:

tomstickland

A "basis point" is apparently 0.01%.

The bank's most competitive two-year fixed rate deal will now be 6.99 per cent,

To think I got a 2 year 4.3% fix just over two years ago.

baby_boomer

You wasted my time, zammo.

Can I give you a negative thanks?

WTF?_2

Zammo wrote: »

...not!

http://www.independent.co.uk/news/business/news/halifax-hikes-home-loan-rates-in-20th-set-of-changes-this-year-851650.html

:beer:

I think people need to get it into their heads that we are not going through a temporary blip here. Even after the credit crunch eases up (whenever that is) banks won't be returning to pre-bust credit levels any time soon. Current costs of borrowing are much more in tune with reality than they have been in the last decade.

dopester

!!!!!!? wrote: »

Current costs of borrowing are much more in tune with reality than they have been in the last decade.

They are still way too low imo, for all of the risks involved.

Unless of course the Bank of !!!!!! would be willing to see the buyer has a 10% deposit and currently an income to make the payments, and so then stump up the £225,000 remainder for some slavebox apartment in my town.

These days are coming to an end. No bank will be continue to lend big sums into a steeply falling market.

free4440273

fundamentally (or should that be technically :rolleyes2 ) people are forgetful, especially the bankers; and soon [fill in your own time-span] 'greed is good' will be back, with all the stupidity and financial wizardry that entails. Banks borrow short, and lend long: that's how they make their money...next time* [time-span you fill in] will be no different IMO.

*and there will be a next time.

michaels

Nothing was shifting around here for ages then in the last few days it suddenly looks like the estate agents have found the 'sold' boards they had misplaced since last August - couple with that, there was the 3.5% rise in retail sales in May...what is going on? Haven't people heard we are in a recession and credit crunch?

Zammo

http://www.dailymail.co.uk/news/article-1028079/Halifax-big-lenders-hit-homeowners-punishing-rate-rises.html

ultra10

!!!!!!? wrote: »

I think people need to get it into their heads that we are not going through a temporary blip here. Even after the credit crunch eases up (whenever that is) banks won't be returning to pre-bust credit levels any time soon. Current costs of borrowing are much more in tune with reality than they have been in the last decade.

Ideed so ..Warren Buffet & Geroge Sorros have said as much .. The World economy & the u.k / u.s one in particular are entering a very uncertain future... this idea all this will be over by christmas is pure fantasy .. read this evening that Iran will continue full pace with its Nuclear Ambitions..coincide this with israels sabre rattling !!! :eek: sooner or later that situation will have to come to a head !! .In which case oil will go sky high !!!

mr.broderick

Zammo wrote: »

http://www.dailymail.co.uk/news/article-1028079/Halifax-big-lenders-hit-homeowners-punishing-rate-rises.html

Yep fixed deals are dead, not a fan anyway.

pickles110564

mr.broderick wrote: »

Yep fixed deals are dead, not a fan anyway.

Not if you got in early enough.