Mortgage Rates UP ....
Abbey starts the ball rolling .............
This is it - coupled with the HIPs and a Bank Base Rate rise next month - the start of the house price collaspe???? |
What the fek are you talking about :confused:
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bla bla bla...
:sleep: |
When did Pete first worn of house price crash? ............. Was it 5 years ago? Surely not. :D
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Originally Posted by unclebuck
(Post 7246783)
bla bla bla...
:sleep: |
Completely irresponsible move on the part of Abbey.
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Pete - new customer rates and deals change every day. Most lenders will review their portfolio every two weeks. It would be newsworthy if they decided to change their SVR (the rate existing customers borrowing is based on) without a change from BoE, but as yet this hasn't happened
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Originally Posted by fast bloke
(Post 7246813)
Pete - new customer rates and deals change every day. Most lenders will review their portfolio every two weeks. It would be newsworthy if they decided to change their SVR (the rate existing customers borrowing is based on) without a change from BoE, but as yet this hasn't happened
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Originally Posted by PeteBrant
(Post 7246803)
Completely irresponsible move on the part of Abbey.
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Originally Posted by VoteConservative!
(Post 7247059)
Why is that mate?
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Pete,
Suggest you read this, this is why the Abbey have raised their rates for new customers. I arranged a new tracker late last week after much research and fingers crossed it seems to have been the right move after reading below and the Abbey move. Act now to beat mortgage squeeze - Times Online |
It's only for new customers, not existing ones, so it's unlikely to have a dramatic impact on the housing market.
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And, of course, you won't listen to any criticism of New Labia in relation to this.
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Originally Posted by fast bloke
(Post 7246813)
Pete - new customer rates and deals change every day. Most lenders will review their portfolio every two weeks. It would be newsworthy if they decided to change their SVR (the rate existing customers borrowing is based on) without a change from BoE, but as yet this hasn't happened
"Although the Bank of England's official rates are still at 5.75 per cent, the average standard variable rate (SVR) paid by millions of households rose by almost a quarter percentage point to 7.69 per cent last month. This is the highest level since the end of 1998, when the official interest rate was a full percentage point higher than now at 6.75 per cent." |
We're doomed I tells ya! :eek2:
:thumb: |
Whats this, yet another nail in the coffin for the UK housing market?.. and the usual culprits are still in denial?... ;)
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Originally Posted by john banks
(Post 7247211)
Mortgage rates hit nine-year peak - Telegraph
"Although the Bank of England's official rates are still at 5.75 per cent, the average standard variable rate (SVR) paid by millions of households rose by almost a quarter percentage point to 7.69 per cent last month. This is the highest level since the end of 1998, when the official interest rate was a full percentage point higher than now at 6.75 per cent." If we get to the point where several lender decides to increase SVR's at the start of a month where there has no previous increase on BoE rates, then it will be time to start agreeing with Pete and Pete. Three month LIBOR is unusually high, but long term LIBOR is fairly much where it has been and swap rates are dropping slightly. If the long term LIBOR increases in line with the three month rates and CPI comes in above forecast for August then we could be in for some stormy times. |
Originally Posted by Petem95
(Post 7247230)
Whats this, yet another nail in the coffin for the UK housing market?.. and the usual culprits are still in denial?... ;)
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Originally Posted by Petem95
(Post 7247230)
Whats this, yet another nail in the coffin for the UK housing market?
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Originally Posted by The Snug Rhino
(Post 7247291)
This the same coffin you have been nailing for 10 years? You sure its the housing market you have in there and not the terminator? It seems rather undeterred by your attempts to kill it.
Maybe he needs bigger nails |
Originally Posted by fast bloke
(Post 7247281)
Have you got round to defining what a crash is yet?
Hey I see your backup has arrived fast bloke ;) |
10% annual fall meaning prices falling to 10% below the level of 1 year ago,10% below the peak price, or 10% below the price when you first predicted a crash?
A 10% fall in Doncaster would take prices back to 2003 levels, while a 10% fall in Belfast would take prices back to last Thursdays levels. p.s. - I dont need backup - I have a bouyant housing market to help me out |
Originally Posted by fast bloke
(Post 7247335)
I dont need backup - I have a bouyant housing market to help me out
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Originally Posted by Petem95
(Post 7247230)
Whats this, yet another nail in the coffin for the UK housing market?.. and the usual culprits are still in denial?... ;)
BBC NEWS | Business | Average house price near £200,000 |
i am a fellow professional, not back up :D
dont these people get a bit embarrassed by saying "lets talk again in X months" EVERY time they post this? Its like a cheap Darren Brown show where the bloke keeps guessing peoples names until he gets one right then declares himself a mind reader! |
Pete - I never said that house prices won't fall/crash. I have just pointed out that the reasoning you use to predict said crash is flawed
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I predict that sometime in the next 1,000,000,000,000,000 years there will be a house price crash :)
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Originally Posted by The Snug Rhino
(Post 7247351)
i am a fellow professional......
If that sort of name calling gets out it could drastically alter my reputation. People would be wanting me to do stuff for them then :eek: |
Originally Posted by john banks
(Post 7247211)
Mortgage rates hit nine-year peak - Telegraph
"Although the Bank of England's official rates are still at 5.75 per cent, the average standard variable rate (SVR) paid by millions of households rose by almost a quarter percentage point to 7.69 per cent last month. This is the highest level since the end of 1998, when the official interest rate was a full percentage point higher than now at 6.75 per cent." That said, I took out an additional small mortgage for a new kitchen a year ago, and punted on variable rates remaining the same :o. I'm not complaining though, as I fixed my main mortgage for 10 yrs around 18 months ago :thumb:. The net rate on the big loan will only get me accused of willy waving if I disclose it, so I 'm keeping mum this time. |
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