Impatiently Waiting

Great replies Si1 and Up the spout. I think I better understand mortgage lending now…. The more you learn about financial markets etc, the less you actually want to know. Smoke and mirrors.

I think France also have long term mortgage deals that cover the entire term. My question is more around what is stopping it being retroactively applied here? Who would lose out between the lender and the mortgage holder? The rate was originally agreed in the past when rates were low. In what part of the crazy world of finance would someone lose out? That’s what I don’t understand. Completely forgetting the desire for a HPC here, who benefits apart from the lender when the Fixed term ends and the borrower has to remortgage? I’m showing my lack of knowledge here but is the money for the mortgage not just pulled out of thin air at the very beginning of the mortgage? If that’s the case, then why would it matter if the lender was told to keep the rate at the old 5 year fix rate of 2% rather than the newer rates of around 6%? The only loser would be the lender for the increased interest they’d miss out on. Is it much more complex than that? I mean if it isn’t then it would surely be a really obvious solution for the UK government.

Quick question - what’s to stop the government from mandating that current mortgages have their rate fixed for the term of their mortgage rather than for their existing fixed rate term? Basically similar to the USA and other nations. Would it have any effect on the lender? If so, why doesn’t it effect the USA and other nations? If someone signed up to a 5 year fix in 2018 at 2% IR and are due to come off it soon, could the government change the lending rules to say the lender must keep them on that rate? It seems mad but would you put it past them? Could it happen? How is it possible that other countries have full 25 year IR’s rather than short term 2,3,5 year fixes here?

Yes, I’m certain that’s true. Thanks to Britain for looking after us poor Scots. I just don’t know why the British bother. They must care too much. God bless them.

I think less folk will be buying cars both new and used. That will coincide with an increase in production of new cars as the semi conductor shortage eases for new cars. As such, I see both new and used car prices dropping like a stone in the uk.

I’m paying the higher rate and don’t mind. Actually happy to pay knowing it helps keep Scottish services at a decent level. I got free university education and left university with no debt. I’ve actually got a phd and I’m a chartered engineer. Got a brilliant job and if I’d been born a couple of hundred miles down the road in England I’d have been knackered. I’m from a rougher area of Glasgow originally and without free education I haven’t a clue where I’d be. Amazing what giving someone a chance in life can do for their prospects.

The second hand car market is going to collapse in the next 6-12 months.

Scottish water is public in good old Scotland. The railways are public too. Free prescriptions Free university “Bloody SNP, what have they ever done for Scotland…”

What effect do the mortgage free boomers and well off pensioners have on inflation? If the only tool at the BoE’s disposal just now is to raise IR’s to cause a recession, reduce discretionary spending, reduce pay rises, increase unemployment, increase mortgage repayments, etc then Boomers and well off pensioners are near enough immune to all of those things. How do they stop them spending? End the pension triple lock? Increase taxes on cruises and gardening products?

Could we be inline for a Japanese style collapse that ultimately destroys house buying sentiment for a generation? Certainly for the “property investors” anyway. Just imagine a world without leech landlords. Bliss.

Christ! What is the point? There’s an abundance of peer reviewed evidence out there. Go out and read it if you want. Anthropogenic climate change is considered a fact amongst the scientific community. Please don’t mistake your own ignorance for some kind of free thinking or any other misguided nonsense. Folk that still peddling in climate denial nonsense shouldn’t be indulged. They should be made to wear dunce hats and possibly even tarred and feathered. They are dangerous morons and aren’t even worth debating with.

Good chance they will look to relocate from the UK. Theres talk they won’t have their eventual IPO in London but will list in the NASDAQ.

Martin Lewis seems like a great guy whose heart is in the right place.

29 of 54 guessed 0.25% 25 of 54 guessed 0.5% Hardly, conclusive stuff. It was 6-3 in June for 0.25%. I think it will be 5-4 for 0.5% this time.

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