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House Price Crash Forum


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Everything posted by Quicken

  1. If they had plenty of equity then they would be able to remortgage. Clearly they do not.
  2. You'd be surprised. I was at the bank yesterday and the employee serving me at a desk looked completely blank when I mentioned Cyptocurrency, then asked how you spell that - Kripto..?
  3. It isn't retrospective in any sense is my point. It doesn't matter what the customer assumes. Just as with savings accounts with teaser rates that drop to zero, short term fixed rate mortgages have a teaser rate followed by SVR. They are priced accordingly. The assumption that you can just sign up to another fix, as good or better than your old deal, when your teaser rate runs out is just an assumption - and one that was suitably demolished in the Big Short. The FSA describes the MMR as: The reforms introduced under the Mortgage Market Review deliver a mortgage market that works better for consumers and is sustainable for all participants. It isn't just to protect consumers - it's designed to make the market sustainable - i.e. constraining risky lending and protecting the taxpayers.
  4. I like your thinking. Roll on MMRv2 first. As you suggested - less than 4 LTE and maximum term of 30 years or time to state pension (whichever is smaller).
  5. According to the FCA: https://www.theguardian.com/money/2019/jan/10/four-in-10-uk-first-time-buyers-will-retire-with-mortgages-fca-warns Jumbo 40 year mortgages.
  6. Consider the millions of savers who signed up for a one year 'bonus' account and now receive derisory ongoing interest due to zirp. Bet they'd like pre-crisis interest rates but the market has changed.
  7. Debenhams going great guns again today. Doubt they will last the year in current form. Ashley looming over the deb zombie.
  8. This is not retrospective legislation. They can continue on the mortgage they signed up for, but they want a new product so the new rules apply. Effectively, what this is lobbying for is giving better mortgage terms to existing, overstretched people than they give to first time buyers. Bad move.
  9. Economy Energy is toast: https://www.bbc.co.uk/news/business-46798461
  10. Good call. Maybe Unicredit. Also UK challenger banks - Aldermore. Maybe even the UK - NI, Scotland.
  11. It is worth remembering that mining is subject to income tax: https://www.gov.uk/government/publications/tax-on-cryptoassets/cryptoassets-for-individuals Best of luck, Q
  12. You're calling May's deal BRINO? Outside the Customs Union and the Single Market. It's less EU than Turkey.
  13. And Banks. Don't forget the banks. https://www.reuters.com/article/uk-britain-eu-swiss/swiss-approve-text-of-trade-deal-with-britain-idUSKBN1OD1FZ
  14. Expect Jeremy will be having a chat with Arlene. Might be time to pull the trigger.
  15. 'Brexit means Brexit' utterer gets offended by the term nebulous. Storm in a teacup.
  16. I think it is clear that legally binding assurances on time limits and/or unilateral exit will not be forthcoming because those are red lines for Ireland. May needs to suck that up.
  17. https://www.theguardian.com/politics/2018/dec/14/eu-leaders-tell-may-to-find-brexit-consensus-among-mps There seems to be this idea going round the thread that it is Brussels, or 'the EU' driving the agenda. Here, we see specific states within the EU27 driving the agenda. If anyone expected Ireland to defend it's interests less energetically than say the DUP, why was that?
  18. Who said the bolded? I thought everyone made it very clear that they couldn't change the WA at all.
  19. AFAIK, Corbyn's red lines are state aid rules and probably some of the growth and stability rules on deficit spending.
  20. Corbyn wants to get (and win) a GE, and avoid the in-out referendum that the party membership want. Compromise position - push for a GE, and only if that proves impossible then go for a referendum including the option to remain. So, the longer he waits to push for a GE, the less chance there is that there remains time to push for a new referendum. Obviously, a no confidence vote won't pass without the DUP and/or some tories, and it isn't clear any of them are ready to jump ship while May continues to stall over the backstop. So, both May and Corbyn are happy to keep stalling while the boat continues heading for the waterfall. Strong and stable.
  21. For those unaware, this is what is happening to the University Pension scheme (USS). Over 1/3 of remuneration soon going into the workplace pension. With NI, close to 1/2. It is getting expensive to employ people on that basis, and that is to provide a pension much less generous than the old final salary scheme around before 2011 (see below). It all started going south after 2008. Reasonable summary on Wikipedia here: https://en.wikipedia.org/wiki/Universities_Superannuation_Scheme 2011: Final Salary Scheme closed to new members and replaced by Career Average Model (ladder pulled); retirement age linked to state retirement; RPI to CPI; move to balance of cost model 2016: Final Salary Scheme closed to pre-2011 members; contributions raised; defined contiribution scheme introduced alongside career average defined benefit scheme
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