2%!
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- 18 Responses
- Raniator
Tracker mortgage owners rejoice...
*high five!
- maximillion_0
except they wont pass it on :(
- ian0
Well a tracker mortgages rate echos that of the ECB so Im assuming that they have to pass it on. Hence the concept of a tracker mortgage.
They've stopped offering them to people over here. Anybody with one will be ok but not being offered to new owners.
- mimeartist_com0
apparently you don't have to pay your mortgage for 2 years now if you can't be bothered anyway
- maximillion_0
its not the law unfortunately - http://www.google.co.uk/search?q…
- Raniator0
Well, some banks have collars yes... but they still have to reduce it to their minimum (if there is one). It's the law.
- id be interested to see a bank without one below 2.5maximillion_
- Doorman0
well...good if you have a mortgage....but if you want to save to buy a house...not possible....they even said it could be down to 1% mid 2009...no point to save money!!! Will ppl buy more? I doubt it.
- Horp0
We switched to tracker in November after being on fixed rate for the last four years. Happy as chuff. = )
- mistermik0
i dont have a mortgage or a pension. sometimes i quite worried.
then i go and buy stuff.
- Ranger0
This country!!!
The last 10 years I've felt completely out of sync with it.House prices have been inflating at an insane rate. As I was only just starting my career they were always too high to entertain the thought of buying. So I told myself this is all madness, common sense says that things can't on like it forever, people who can't afford houses will be fucked and lose everything. I thought it would be harsh but things would readjust, lots of people would moan about losing out, but prices would come down again to a more sensible level. Just save a decent deposit and see how things are in a few years. But now it seems they are trying to do everything to keep the insanity going. It's like there is no option unless you dive into all this credit/debt shit.
So the plan is to just carry on with the madness? No one bother to save until you can actually afford things?
The western world has become a chav.
- maximillion_0
ranger - bankers are greedy, arrogant wankers and always will be.
- rounce0
Anyone know the collective noun for bankers?
Wunch of bankers.
- I heard that the before the Euro, the Irish pound was called a 'punt'
thebottlerocket - because it rhymed with "Bank Manager"thebottlerocket
- haha nice one.rounce
- I heard that the before the Euro, the Irish pound was called a 'punt'
- thebottlerocket0
This isn't about 'keeping the insanity going' its more about just keeping something going.
This drop will do more to help than any 2.5% VAT cut.
- Is it making things any better? Or just keeping things going?Ranger
- if things stop it will be "great depression" shit....
thebottlerocket - "Keeping going" is a good thingthebottlerocket
- Dancer0
Surely the government will push banks to pass on the cut?
I reckon it will soon we good to get a mortgage with Northern Rock.
I may buy out of my fixed rate mortgage and suck into a tracker.... interesting
- I am in a similar position in terms of wanting to 'buy out' my mortgagethebottlerocket
- but the rates you can switch to are as high as my fixed rate loanthebottlerocket
- maximillion_0
you didnt read my post Dancer?
- no. too longDancer
- I agree with you max but which point do you refer to? The pass on of the cut?Dancer
- bankers have quite a bit of power with the economy and thats why the gov isnt heavy fisted with themmaximillion_
- and i was referring to the power of govt vs banks!maximillion_
- Did they not persuade them to take on the last cut though?Dancer
- partiallymaximillion_
- and optional!maximillion_
- Ranger0
Agreed keeping things going is better than letting it all stop. But what we are keeping going is shit.
- thebottlerocket0
Not sure what 'thing' you think is shit