Nationwide Upping It's Svrs?

[Pent Up]

http://forums.moneysavingexpert.com/showthread.php?t=2553285

Just read this on MSE. A couple of people moaning that their repayments have increased by 33% on their nationwide SVRs.

Could they be expecting a rate rise and getting in early? Or just getting the shits that the housing Market is going tits up?

[200p]

I had never heard of LIBOR before now.

[Fully Detached]

I had never heard of LIBOR before now.

That's nothing...

this is pretty scary then if they can jutst up the SVR as they like, they could do that to me next month!?!?

[plummet expert]

http://forums.moneysavingexpert.com/showthread.php?t=2553285

Just read this on MSE. A couple of people moaning that their repayments have increased by 33% on their nationwide SVRs.

Could they be expecting a rate rise and getting in early? Or just getting the shits that the housing Market is going tits up?

All the SVR's startd their expected rise a couple of months ago. Most are 3.99% and rising. The BoE CANNOT STOP THIS. It is the money markets that are pricing it up. The Boe scheme cooked up by Liebour is running out and there will be a shortfall of £300billion in mortgage funds come end of this year. The HPC is brewing. There is now almost no news thread which is positive about house prices.

[Pent Up]

The HPC is brewing. There is now almost no news thread which is positive about house prices.

Your wrong.

http://www.express.co.uk/posts/view/183660/House-prices-Why-a-mews-is-good-news

Living on a hill, down a lane or in a Mews boosts the value of homes, research shows

Tuesday June 29,2010

By Sarah "Saz" O'Grady

Have your say(0)

LIVING on a Hill, down a Lane or in a Mews boosts the value of homes, shows new research.

Properties with the word Hill in their address are usually worth more than twice as much as those on a Street.

Seriously I can't remeber the last bullish media article I saw? Sentiment in the MSM seems to have shifted rather fast!

[Pent Up]

This just proves we don't need a rise in base rates to start the flood of repos

I've received a letter this morning 24th June from Derbyshire Home loans (subsiduary of Nationwide) saying my mortgage is going up by over £300 (38%) a month

This persons mortgage has just increased from £489 per month to £789.

Edited June 29, 2010 by Pent Up

[Redcellar]

This just proves we don't need a rise in base rates to start the flood of repos

Well people on variable rates have enjoyed unprecedented lows for several years now. Maybe they forgot that the average rates are not less than 4%. If they did then oops, but more fool them. Its easy to have a rise of 38% or more when you were only paying 0.5% or 1% if you had a BOE tracker of some sort and are coming off it.

That is what will be the undoing of many. 'Expectations' that rates will be less than 5% 'always'. Savers need more than that and banks want money in the coffers (i.e. attract savers) now the government funding is expiring, so get used to it, its on the way back up again.

[deflation]

The Dudley BS mortgage SVR has been at 4.99% for over a year, and never went any lower. :angry:

However, they're now doing 2 year discount rate at 2.99% for anyone coming off their present deals, which will be lower than most have been paying for the last 2 years. Maybe there is something to be said for mutuals, saving rates still pants though.

[Redcellar]

The Dudley BS mortgage SVR has been at 4.99% for over a year, and never went any lower. :angry:

However, they're now doing 2 year discount rate at 2.99% for anyone coming off their present deals, which will be lower than most have been paying for the last 2 years. Maybe there is something to be said for mutuals, saving rates still pants though.

Is a Dudley BS Mortgage also called a Liar Loan?

Oh wait, you meant Building Society. Now I get it.

[Rozza]

All i can say is i feel really sorry for these peop....

actually no i dont, they have had it easy while people like me got sod all interest on our savings and got looked down on as scummy renters. (i dont think renters are scummy i like being one as it happens)

So it may seem horrible but all i have to say is

"bwah ha ha ha!"

Edited June 29, 2010 by Rozza