Wednesday, Nov 26, 2008
Not even a conspiricy could be this far fetched!!!
The Times: Northern Rock defies Government to raise rates
"Northern Rock, the state-owned lender, has embarrassed the Government by increasing rates on its most competitive deals despite calls for high street lenders to pass on cuts in borrowing costs."....ha ha ha ha ha ha ha ha ha
Posted by titaniccaptain @ 02:40 PM (293 views) Add Comment
1 Comment
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. jack c said...
The thing that concerns me most in all of this is the fact that Government ministers clearly do not understand the basics of the mortgage market or the workings of it.
One minute they are running down the mortgage book at NR to pay off the Gov loan, stabilise the company and get it fit for a return to the private sector and the next they are insisting NR return to it's previous lending pattern - cant have it both ways
Finally NR should not have promoted a market leading Fixed rate product of 3.99% - what were brokers expected to do? ignore the best fixed rate on the market by a Gov backed institution. It would be fairly obvious to David Blunkett in a darkened room that this rate would attract volume business and subsequently have to be replaced with a higher rate.