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Realistbear

Warning Lights Flashing--Re Mortgaging Falls To 13 Yr Low

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http://uk.finance.yahoo.com/news/Remortgaging-falls-13-year-tele-3030497930.html?x=0

Remortgaging falls to a 13-year low
Harry Wallop, 12:50, Friday 11 February 2011
Remortgaging fell to the lowest level since 1997 last year,
as thousands of home owners came off cheap home loan deals and were unable to renew them
.
Instead they reverted to banks' standard variable rates, historically a very expensive way to borrow money, but which have become a relatively cheap method because of record low interest rates.
Figures from the Council of Mortgage Lenders said that the number of people remortgaging fell to a 13-year low of just 313,200, compared with 408,000 during 2008, and a typical level of over 1 million during the housing boom of the last decade.

Many of us knew this was going to happen--overleveraged sheeple get caught in the downturn just as credit dries up. Repossession time is here.

More nails in the HPI coffin. It is-- like---so oveRH.

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http://uk.finance.yahoo.com/news/Remortgaging-falls-13-year-tele-3030497930.html?x=0

Remortgaging falls to a 13-year low
Harry Wallop, 12:50, Friday 11 February 2011
Remortgaging fell to the lowest level since 1997 last year,
as thousands of home owners came off cheap home loan deals and were unable to renew them
.
Instead they reverted to banks' standard variable rates, historically a very expensive way to borrow money, but which have become a relatively cheap method because of record low interest rates.
Figures from the Council of Mortgage Lenders said that the number of people remortgaging fell to a 13-year low of just 313,200, compared with 408,000 during 2008, and a typical level of over 1 million during the housing boom of the last decade.

Many of us knew this was going to happen--overleveraged sheeple get caught in the downturn just as credit dries up. Repossession time is here.

More nails in the HPI coffin. It is-- like---so oveRH.

Life Sucks don't it :D

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The other explanation could be that the SVR is so attractive that people have no need to look at getting another deal. Maybe once Interest Rates start to climb we will actually see a rise in mortgage approvals as people start to get into fixed deals.

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The other explanation could be that the SVR is so attractive that people have no need to look at getting another deal. Maybe once Interest Rates start to climb we will actually see a rise in mortgage approvals as people start to get into fixed deals.

Only if they are proactively paying down the mortgage so they can fix with a healthy LTV. How can I change my profile name to 'Bear's bear'. I am a 'mortgage holder' and have a vested interest in the economy doing well and not in exponential HPI. If the bubble isn't burst soon my wife will lose her job here (but it's ok as she has a VP role open to her in Switzerland - same company). I have no desire to be forced out of my country because of the damage HPI is doing.

Edited by tomposh101

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http://uk.finance.yahoo.com/news/Remortgaging-falls-13-year-tele-3030497930.html?x=0

Remortgaging falls to a 13-year low
Harry Wallop, 12:50, Friday 11 February 2011
Remortgaging fell to the lowest level since 1997 last year,
as thousands of home owners came off cheap home loan deals and were unable to renew them
.
Instead they reverted to banks' standard variable rates, historically a very expensive way to borrow money, but which have become a relatively cheap method because of record low interest rates.
Figures from the Council of Mortgage Lenders said that the number of people remortgaging fell to a 13-year low of just 313,200, compared with 408,000 during 2008, and a typical level of over 1 million during the housing boom of the last decade.

Many of us knew this was going to happen--overleveraged sheeple get caught in the downturn just as credit dries up. Repossession time is here.

More nails in the HPI coffin. It is-- like---so oveRH.

...lots of people remortgaged just to MEW....and that is almost impossible now while many are 'underwater'

....recent fixes have had to reflect the true rate of borrowing which has left the SVR more attractive...but there will be an increased trend to fix going forward as people try to anticipate rate rises....future IR movements can only go one way..... :rolleyes:

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http://uk.finance.yahoo.com/news/Remortgaging-falls-13-year-tele-3030497930.html?x=0

Remortgaging falls to a 13-year low
Harry Wallop, 12:50, Friday 11 February 2011
Remortgaging fell to the lowest level since 1997 last year,
as thousands of home owners came off cheap home loan deals and were unable to renew them
.
Instead they reverted to banks' standard variable rates, historically a very expensive way to borrow money, but which have become a relatively cheap method because of record low interest rates.
Figures from the Council of Mortgage Lenders said that the number of people remortgaging fell to a 13-year low of just 313,200, compared with 408,000 during 2008, and a typical level of over 1 million during the housing boom of the last decade.

Many of us knew this was going to happen--overleveraged sheeple get caught in the downturn just as credit dries up. Repossession time is here.

More nails in the HPI coffin. It is-- like---so oveRH.

Are we already seeing credit contraction showing up in retail sales? John Lewis and Tesco juggernauts both rely on all this re-mortgaging nonsense and their sales are down - markedly in the case of JL stores. Still, at least the Banksters are spendong on their 'luxury' goods.......with OUR money :angry:

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http://uk.finance.yahoo.com/news/Remortgaging-falls-13-year-tele-3030497930.html?x=0

Remortgaging falls to a 13-year low
Harry
Wallop
, 12:50, Friday 11 February 2011
Remortgaging fell to the lowest level since 1997 last year,
as thousands of home owners came off cheap home loan deals and were unable to renew them
.
Instead they reverted to banks' standard variable rates, historically a very expensive way to borrow money, but which have become a relatively cheap method because of record low interest rates.
Figures from the Council of Mortgage Lenders said that the number of people remortgaging fell to a 13-year low of just 313,200, compared with 408,000 during 2008, and a typical level of over 1 million during the housing boom of the last decade.

Many of us knew this was going to happen--overleveraged sheeple get caught in the downturn just as credit dries up. Repossession time is here.

More nails in the HPI coffin. It is-- like---so oveRH.

Wallop very apt name that .... Wallop - there goes the house - the luxury car and Caribbean hollidays twice a year

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  • 285 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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