Jump to content
House Price Crash Forum

stevie1969

Members
 View Profile  See their activity

  • Posts

    238

  • Joined

  • Last visited

 Content Type 

Posts posted by stevie1969

    120pc Mortgages Are Back

    in House prices and the economy

    Posted

    Stevie, I realise that the deal is only for existing customers. However, what it allows homeowners in NE to do is to secure a new fixed rate deal, which would otherwise require them to have at least 20-25% equity in their homes. Most analysts agree that IRs would have to rise sharply in the next year or so and this deal essentially rewards the reckless by protecting them from future spikes in IRs. If inflation takes off as expected in the next 2 years or so, such customers would be in a position where they would have enough equity by the time their fixed rate expires in order to get a new deal..

    The homeowner secures a rate around 5.5% with an upfront fee of £1500. Hardly a reward and don't forget that these homeowners now owe the bank around 30% of their purchase price. Halifax wants to milk them rather than turn them into a repo stat. It is best to stay on the SVR at the moment, but I expect Halifax will use their scare tactics to push people towards these deals.

    120pc Mortgages Are Back

    in House prices and the economy

    Posted

    I think this is only for existing customers whose deals are finishing. It's not for remortgages. I know it mentions remortgages in the article, but I think the journalist is wrong

    A spokeswoman for Halifax said: "When our borrowers come to the end of their existing product rate, we work with them on a case-by-case basis to determine the product options that are available to them."

    I don't see anything wrong in this.

    Ask The Pm - April 2009

    in House prices and the economy

    Posted

    Gordon never answers the question even if he says he is answering the question.

    I just like getting it off my chest

    How about

    In 1997 you said that you would not allow house prices to get out of control and put at risk the sustainability of the recovery. You then took away powers from the bank of England to regulate bank lending.

    There then followed the biggest boom ever in house prices on the back of an explosion of debt. By 2007 lenders were lending 6 times a couples joint income at 125% of the value of a property and without needing proof of the applicant’s income. These mortgages were then securitised and sold in the marketplace. This is exactly what was going on in America where you claim all the blame lies for the financial crisis.

    Why should we trust you to create the regulatory framework needed to ensure this does not happen again, when it was your regulations that allowed this to happen in this country?

    Ask The Pm On The Economy

    in House prices and the economy

    Posted

    Ive given your video the thumbs up - although its a little unintuitive to find! (click on Vote tab and search in there - rather than search downng st videos below)

    Good video - although wasn't sure about the way you said 'goodbye Gordon' - were you just signing off your video - or consigning him to history??

    He is at the end of the road - I am waiting for history to judge him.

    Ask The Pm On The Economy

    in House prices and the economy

    Posted

    This are solid backward looking facts that are either true or false.

    All true and Gordon claims none of them are true.

    This is the wooliest politican friendly bunch of questions that GB gets every day from the soft media. "best placed", "downturn","worst placed", "best person", "mess", "lead", "other reason" WTF?? totally non-concrete

    ?!? The politician friendly questions he gets asked by Marr etc are 'PM what can you do to make sure the economy survives the downturn' GB - 'eveything we can'

    you need to nail this guy.

    Or you could

    Ask The Pm On The Economy

    in House prices and the economy

    Posted · Edited by stevie1969

    go to

    http://uk.youtube.com/user/downingst?ob=4

    click on the vote tab

    put

    stevex1969

    into the search for video box and click go

    click on the thumbnail underneath

    watch my clip - if you like it click on the thumbs up

    thanks

    Text of my question

    After the debt fuelled boom of the last 11 years the bust is here, house prices are now falling at the fastest rate ever recorded, negative equity is forecast to be higher than ever recorded, mortgage lending has fallen to the lowest level ever recorded, the economy is in a recession that is forecast to be the worst ever recorded, the pound is plummeting, the regulatory framework that you established has failed, Government borrowing is through the roof and the UK consumer has taken on the highest amount of personal debt in the world.

    Do you still think our economy is best placed to weather this downturn? And if you do then which economies are worst placed and why.

    You say that you are the best person to get us out of this mess, is that because you lead us here or is there some other reason?

×
×
  • Create New...

Important Information

  I accept