Friday, Nov 16, 2007
Even if crash gordon and BOE where to cut rates next year there will be know reprieve for BTL "investors".
times online: Lenders may not pass on rate cuts
Major lenders including Halifax, RBS, Lloyds TSB and Barclays said yesterday that they could not guarantee that borrowers would benefit from any base rate cuts next year.
Posted by sold out @ 08:55 PM (515 views) Add Comment
6 Comments
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1. paul said...
"The Royal Institution of Chartered Surveyors reported this week that new properties have flooded the market as would-be sellers make a dash for the exits, with the number of homes on estate agents’ books rising by 9 per cent in October"
They've kept that VERY quiet.
2. enuii said...
Banks need to protect their bottom lines, Joe over leveraged Soap will gain no sympathy from the Big Boys.
Many are trying desperately to offload their properties now. My local area has 121 properties up for sale, way up from the 83 that were up for offer on the 1st April this year and rising at the rate of 3-4 per week.
3. confused76 said...
rates cuts will be made to bail out the banks... what a f@ckup!
watch the pound go down the drain
4. Amorgos said...
I'm suprised that this announcement hasn't made more of the news.
5. Ed Norton said...
Enuii, there are 121 properties for sale here too, compared with around 75 this time last year. This is it.
6. the northerner living in oz said...
We are at the start of world wide financial storm
(Credit crunch)
The U.S was the first to affected then like ripples in a pond
The rest of the world will be affected.
Spain, Italy, Eire, U.K,
Then few months later the rest of Europe
And even the booming economies of Australia , Asia , China.
The U.K is just second country to devalue their currency
Certainly not the last.