Why not just make it 0%?
05 March 2009, 12:09 PM
#1
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Why not just make it 0%?
BBC NEWS | Business | UK interest rates lowered to 0.5%
May as well its going to happen and its not making that much of a difference.
Makes my mortgage £100.
Quantative Masturbation
It worked because Japan was a big exporter, we are the complete opposite.
May as well its going to happen and its not making that much of a difference.
Makes my mortgage £100.
Quantative Masturbation
Similar measures were implemented in Japan at the beginning of the decade and are considered to have had limited success.
Last edited by EddScott; 05 March 2009 at 12:12 PM.
05 March 2009, 12:27 PM
#5
I know a guy who has an interest only mortgage at a certain % under the Bank of England base rate.
His £630k mortgage (on several buy-to-let properties) now costs........... £0.08 per month!!!
His £630k mortgage (on several buy-to-let properties) now costs........... £0.08 per month!!!
05 March 2009, 12:33 PM
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05 March 2009, 12:51 PM
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Well you'd think the Government would want mortgage approvals to go up with house prices low in places and virtually no interest rate so renters bought now and stimulated the market. Slight problem with that when the mortgage companies are still keeping mortgage rates extremely high in comparison to the base rate so there are no appealing mortgage deals.
05 March 2009, 12:53 PM
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I just hope that all those people 'dipping their bread' on their tracker deals at the moment, don't start blaming the government when they are in double figures in 12 months time! 
Oh for the fixed rate deals!
Oh for the fixed rate deals!
What economic planet do you live on? To go from .5% to 10%+ in 12 months is impossible because the economy would collapse even more spectacularly than it has now.
05 March 2009, 01:01 PM
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05 March 2009, 01:09 PM
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05 March 2009, 01:11 PM
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This is the beginning of the end. When they start printing money,you know we are on the way to total ruination.
Now we see why this disgusting government did not intervene in Zimbabwe. They are following Mugabe's scorched earth policy. When the full extent of what Brown and Blair have done to this country becomes apparent even the most indoctrinated Labour drone will wake up.
Now we see why this disgusting government did not intervene in Zimbabwe. They are following Mugabe's scorched earth policy. When the full extent of what Brown and Blair have done to this country becomes apparent even the most indoctrinated Labour drone will wake up.
05 March 2009, 01:13 PM
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Of course, extrapolating the average monthly fall in Feb as publised by the Halifax, he lost £14500.
Happy days.
05 March 2009, 01:16 PM
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05 March 2009, 01:32 PM
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This is the beginning of the end. When they start printing money,you know we are on the way to total ruination.
Now we see why this disgusting government did not intervene in Zimbabwe. They are following Mugabe's scorched earth policy. When the full extent of what Brown and Blair have done to this country becomes apparent even the most indoctrinated Labour drone will wake up.
Now we see why this disgusting government did not intervene in Zimbabwe. They are following Mugabe's scorched earth policy. When the full extent of what Brown and Blair have done to this country becomes apparent even the most indoctrinated Labour drone will wake up.
yep were all screwed, us, the country, the world! were all going to die!! all because the people working there ***** of around the world to save there economies dont know what they are doing, especially our government maybe all the world leaders should ask scoobynet members as they clearly know better.
05 March 2009, 01:35 PM
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making it 0% would show:
1. The goverment is hoplessly incompetent and inept (which we already know)
2. The UK financial and economical market is driven by the bankers and Mr £630k's
3. Gordon Brown really is one eyed and scottish and the antichrist
Was watching the news on how the Bank of Engerland will print off £150bn notes to pump back into the economy... just think about that for a minute.
These cronies can print money from thin air and pump it back into the economy and say its going to be okay. How do they accomodate the artificial prop-up and what happens when there is a vaccum being formed as a result of pumping in money that has no proportional equity behind it (money in a normal economy is traded hence £1 will have some equitable value associated to it in the form of a product that was sold, then bought and so on).
I know of another group that does this, they are drug dealers...
1. The goverment is hoplessly incompetent and inept (which we already know)
2. The UK financial and economical market is driven by the bankers and Mr £630k's
3. Gordon Brown really is one eyed and scottish and the antichrist
Was watching the news on how the Bank of Engerland will print off £150bn notes to pump back into the economy... just think about that for a minute.
These cronies can print money from thin air and pump it back into the economy and say its going to be okay. How do they accomodate the artificial prop-up and what happens when there is a vaccum being formed as a result of pumping in money that has no proportional equity behind it (money in a normal economy is traded hence £1 will have some equitable value associated to it in the form of a product that was sold, then bought and so on).
I know of another group that does this, they are drug dealers...
05 March 2009, 01:55 PM
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It hasn't worked because the lending criteria have been really tightened up. This is why loans are currently 7.9% apr and that's considered a good deal.
For those on fixed rate (like we are for the next two years) what level of borrowing did you get? We managed a 90% mortgage with quite a low fee. Right now getting a 90% mortgage is nigh on impossible let alone one at the rate we are on.
Cheap deals for those paying a huge deposit but no one can afford to do it which is another reason it isn't working.
Printing money is a bad move too. Time to sit tight, get some stability and let people get used to how things are. Once people have that level of certainty back then they will start spending again.
Also i trust all those who have seen their mortgage drop a lot are over paying like crazy right now. Otherwise what are you doing with the money?
5t.
For those on fixed rate (like we are for the next two years) what level of borrowing did you get? We managed a 90% mortgage with quite a low fee. Right now getting a 90% mortgage is nigh on impossible let alone one at the rate we are on.
Cheap deals for those paying a huge deposit but no one can afford to do it which is another reason it isn't working.
Printing money is a bad move too. Time to sit tight, get some stability and let people get used to how things are. Once people have that level of certainty back then they will start spending again.
Also i trust all those who have seen their mortgage drop a lot are over paying like crazy right now. Otherwise what are you doing with the money?
5t.
05 March 2009, 02:03 PM
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05 March 2009, 02:19 PM
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5t.
*Thursdays only 2pm on the dot. Be bent over and ready. No further correspondence will be entered into and neither will you.
05 March 2009, 02:22 PM
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It hasn't worked because the lending criteria have been really tightened up. This is why loans are currently 7.9% apr and that's considered a good deal.
For those on fixed rate (like we are for the next two years) what level of borrowing did you get? We managed a 90% mortgage with quite a low fee. Right now getting a 90% mortgage is nigh on impossible let alone one at the rate we are on.
Cheap deals for those paying a huge deposit but no one can afford to do it which is another reason it isn't working.
Printing money is a bad move too. Time to sit tight, get some stability and let people get used to how things are. Once people have that level of certainty back then they will start spending again.
Also i trust all those who have seen their mortgage drop a lot are over paying like crazy right now. Otherwise what are you doing with the money?
5t.
For those on fixed rate (like we are for the next two years) what level of borrowing did you get? We managed a 90% mortgage with quite a low fee. Right now getting a 90% mortgage is nigh on impossible let alone one at the rate we are on.
Cheap deals for those paying a huge deposit but no one can afford to do it which is another reason it isn't working.
Printing money is a bad move too. Time to sit tight, get some stability and let people get used to how things are. Once people have that level of certainty back then they will start spending again.
Also i trust all those who have seen their mortgage drop a lot are over paying like crazy right now. Otherwise what are you doing with the money?
5t.
05 March 2009, 02:30 PM
#30
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You sir will recieve the VC in the post. Additioanlly the Queen will be round to personally wipe your backside with a bit of silk taken from her dead mother's undies.*
5t.
*Thursdays only 2pm on the dot. Be bent over and ready. No further correspondence will be entered into and neither will you.
5t.
*Thursdays only 2pm on the dot. Be bent over and ready. No further correspondence will be entered into and neither will you.
Looking forward to that.
I'm actually on interest only right now. I've done similar to RJ above and started saving more (market based) When I think mortgage rates (offered not BoE) have come down as far as they are likely too , I will get a good fixed rate deal for 2 years on repayment.
For now though, those things that need buying are being bought because when I jump from 100 per month to 500 there won't be too much spare dosh for washing machines etc.