Friday, May 16, 2008
Be positive, sell newspapers......
Express: HOORAY! CHEAPER HOME LOANS
First we get: ''...Home owners were given the best news for months yesterday when the second major lender in a week cut its mortgage rates...'' then we get: ''...Admittedly, the Abbey cuts of 0.05 per cent on flexible and tracker loans and 0.17 per cent on fixed-rate deals are small...''
Posted by hpwatcher @ 08:17 AM (1473 views) Add Comment
15 Comments
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1. hpwatcher said...
2. jonb said...
Slightly different story in the Telegraph this morning.
3. doom&gloom said...
Stuartz Lawz says, "I believe it will take until around September for the mortgage market to improve significantly and it may turn out to be prudent for people coming to the end of existing mortgage deals to just accept the standard variable rate for a few months before remortgaging".
Is this giant among men now authorised by the FSA to give out mortgage advice? God help the country if he is.
4. doom&gloom said...
Dammit, he is. We're doomed.
5. jack c said...
This garbage reporting is a distortion of what is really happening in the market place - I'll provide evidence later as I'm away from my office for the remainder of the day. Looks to me like the Express will now run a headline of interest rates up interest rates down to coincide with the other three headlines they run.
6. renting2 said...
So, if mortgage rates don't improve in Sep, can he be sued instead?
7. Bananasplit said...
0.05 is about a £100 saving on a 200,000 loan......I got a mortgage in principal yesterday for 205,000 and the rates were 5.99 tracker no fee and 6.99 fixed for 2,5,10 years £995 fee. I went directly to my bank and the process was simple with limited questions because of our continuous record with the bank, in and out 45 mins with proof of mortgage in hand. Interest rates will stay at the levels they are now which is sensible and when house prices fall easily affordable.
8. Rental John said...
HOORAY!
25% deposit and rate cut of 0.05% - where do I sign?
'Happy days are here again
The skies above are clear again
So let's sing a song of cheer again
Happy days are here again'
9. Rick62 said...
This is so irresponsible. As I broker I'm getting this all the time at the moment, clients see headlines like this, then they say to me 'I think I'll wait a few weeks/months because rates should come down'. I tell them no, they're going up. Several weeks later they come back, 'can I take that deal now please?'. No, the current deal is 0.5% higher.
10. Rental John said...
But an article from the same august publication...'CUSTOMERS LOSE OUT AFTER BASE RATE CUT', granted from the 14th May - so therefore a long long time ago...
www.dailyexpress.co.uk/money/view/44412/Customers-lose-out-after-base-rate-cut
11. harold said...
Just how thick does the Express think its readers are? Clearly, very.
12. Cheekymonkey said...
Ah, nothing like a bit of VI to get me spewing my cornflakes all over my laptop on a morning...funny, it doesn't seem to mention what the arrangement fee for the ultra low HSBC morgate is either...I'm thinking it might bottom in September...but '09 not '08.
13. yorkshireman said...
Headline makes a change from "Phew what a scorcher" or "Homeowners breathe a sigh of relief", otherwise both the headline and the article are infantile drivel.
14. Btl Rules said...
express is a very useful tool in financial matters
15. icarus said...
Maybe the Express publishers also publish the Daily Mash and today they got the titles mixed up.