Today has been a pretty interesting day in the world of mortgages with lenders including Halifax, Abbey and Nationwide all reducing their mortgage rates by upto 0.4%. I believe that this is in response to the HSBC 2.99% product which was launched last week. It is encouraging to see that there is a little bit of competition in the market as for the most part of 2012 it has been dominated by 2 or 3 mainstream lenders.
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Mortgage Rates coming down
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Originally posted by Martin@AS Financial View PostToday has been a pretty interesting day in the world of mortgages with lenders including Halifax, Abbey and Nationwide all reducing their mortgage rates by upto 0.4%. I believe that this is in response to the HSBC 2.99% product which was launched last week. It is encouraging to see that there is a little bit of competition in the market as for the most part of 2012 it has been dominated by 2 or 3 mainstream lenders.
The BoE should allow plebs to borrow directly from them at the current rate of interest of 0.5%. The middle men here need to be taken out to the fields and shot. -
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Originally posted by Martin@AS Financial View PostToday has been a pretty interesting day in the world of mortgages with lenders including Halifax, Abbey and Nationwide all reducing their mortgage rates by upto 0.4%. I believe that this is in response to the HSBC 2.99% product which was launched last week. It is encouraging to see that there is a little bit of competition in the market as for the most part of 2012 it has been dominated by 2 or 3 mainstream lenders.
2.99% product was launched for those with 40% deposits.Comment
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Originally posted by ChimpMaster View PostThe BoE should allow plebs to borrow directly from them at the current rate of interest of 0.5%. The middle men here need to be taken out to the fields and shot.Comment
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Originally posted by AtW View PostNice idea, but the difference is that banks who lend money either own the money themselves (small part) or have to borrow it from somebody, hence no inflationary pressure, on the other hand BoE can only print it's own money - imagine everybody can borrow any money for 0.5% to buy their dream house!
As someone else has said, imagine the property inflation, then the carnage when the rates go back up again.
But then, not everyone has such an imagination.Comment
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Originally posted by Doggy Styles View PostBut then, not everyone has such an imagination.
Their kids will have to emigrate to have a future, but their house prices wont go down which is all that really matters isnt it?Comment
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