Wednesday, Jan 13, 2010
Keeping the pig fat
Times: Competition fuels mortgage cuts
''Santander and Yorkshire become the latest lenders to reduce rates as RBS reveals that it is approving 90 per cent of applications. Homebuyers are benefitting from the return of competition in the mortgage market as Santander and Yorkshire Building Society become the latest lenders to woo borrowers with cheaper deals. ''
Posted by hpwatcher @ 09:08 AM (1121 views) Add Comment
7 Comments
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1. hpwatcher said...
More cheap money and near negative interest rates are going to keep that housing bubble pumped right up.
Market forces aren't going to be allowed to stop it. The only thing that will end it, is a full blown currency crises....and that is where we are now heading.
2. Harre said...
Oh right, so high interest rates is what would save us all?!? It would make it much easier for businesses to prosper and get people working as well wouldn't it?!?
Some people on this site unfortunately ruin the credibility with their comments, perhaps the goal they're trying to achieve. A fixed rate of 4% isn't cheap for a 75% deposit. It certainly isn't near negative and it's the interest rates house buyers will have to deal with.
3. brickormortis said...
Have you seen the savings rates of the santander division? 0.4% means that you can, of course, use depositors cash to offer cheap mortgages and make massive profits! Nobody cares about savers. I hope they all switch to somewhere where they get a decent rate!
4. inbreda said...
" RBS reveals that it is approving 90 per cent of applications"
That would be a timebomb for future tax payers then.
5. paul said...
Wishful thinking on the part of the writer. Borrowing costs against UK commercial and residential property are soaring. There is no competition only degrees of risk exposure.
6. mr g said...
On the other hand, my wife has been notified by a building society that interest on one of her savings accounts will increase by approximately 10% with immediate effect. Before anyone gets excited thats not a rate in excess of 10% but an increase from 3% to 3.30%.
As this isn't a headline grabbing introductory rate for a new account, could this be signs of "green shoots" for savers?
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