Tired of Waiting Posted May 19, 2012 Share Posted May 19, 2012 Money Box, BBC Radio 4, Saturday 19 May at 12 noon. The Money Box presenter (Paul Lewis) just said on the Today program that they will focus on the Greek crisis today, "but on practical aspects", such as Santander, "our mortages", and holidays in Greece. Both of these shows (Today and Money box) have a very large audience, and I think they reach a very relevant "demographics" regarding properties (older, middle-class types? BTLers? Potential downsizers?). And as Money Box always deals with "practical" aspects, I think they probably have some significant impact on "sentiment". http://news.bbc.co.uk/1/hi/programmes/moneybox/9721930.stm How will Euro woes affect us? BBC Radio 4's Money Box Saturday, 19 May 2012 at 1204 BST On Radio 4 and Online It has been another couple of turbulent weeks in the Euro zone. Political uncertainty in Greece has led to fears that they may default on their debts and leave the Euro. In Spain banks have been downgraded because of worries about their exposure to bad property debts. In Money Box this week we ask the experts what implications this might have for people in the UK. Many of you have emailed asking whether your money is safe in Spanish owned bank Santander. What if you have property in Spain or Greece? What are you consumer rights if you are going on holiday to a country that might become affected by the economic crisis? What will happen to UK mortgage rates if borrowing from foreign banks becomes more expensive? We'll provide the answers on the programme this week. Joining Paul Lewis this week - Vicky Pryce, economist and former UK government adviser. Ralph Silva, bank analyst and managing director of SRN. Ray Boulger, Senior Technical Manager at mortgage specialists John Charcol. Simon Calder, independent travel writer. Billy Burrows, annuity specialist and Director of the Better Retirement Group Robin Haynes, Managing Director at Currency Index Related Links: UK deposit compensation scheme See page 4 for EEA banks operating as branches in the UK Quote Link to comment Share on other sites More sharing options...
bmf Posted May 19, 2012 Share Posted May 19, 2012 Money Box, BBC Radio 4, Saturday 19 May at 12 noon. The Money Box presenter (Paul Lewis) just said on the Today program that they will focus on the Greek crisis today, "but on practical aspects", such as Santander, "our mortages", and holidays in Greece. Both of these shows (Today and Money box) have a very large audience, and I think they reach a very relevant "demographics" regarding properties (older, middle-class types? BTLers? Potential downsizers?). And as Money Box always deals with "practical" aspects, I think they probably have some significant impact on "sentiment". http://news.bbc.co.uk/1/hi/programmes/moneybox/9721930.stm Yesterday 30% of customers into Santander were withdrawing all their cash. This won't help but I'd be surprised if it's fully truthful, this is after all state radio. The BBC has been in full on "state mode" quite a bit recently. Almost makes me feel patriotic, then I think "nah, I still want people to break in and kick the crap out of them". Quote Link to comment Share on other sites More sharing options...
Tired of Waiting Posted May 19, 2012 Author Share Posted May 19, 2012 Yesterday 30% of customers into Santander were withdrawing all their cash. This won't help but I'd be surprised if it's fully truthful, this is after all state radio. The BBC has been in full on "state mode" quite a bit recently. Almost makes me feel patriotic, then I think "nah, I still want people to break in and kick the crap out of them". I know. But regarding mortgages, I just can't see how on earth they could avoid saying that interest rates can only go up. No way. Quote Link to comment Share on other sites More sharing options...
bmf Posted May 19, 2012 Share Posted May 19, 2012 I know. But regarding mortgages, I just can't see how on earth they could avoid saying that interest rates can only go up. No way. Well, let's wait and see. Nothing on the BBC would surprise me. Especially as they clearly have set "state mode" to on. Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted May 19, 2012 Share Posted May 19, 2012 Yesterday 30% of customers into Santander were withdrawing all their cash. This won't help but I'd be surprised if it's fully truthful, this is after all state radio. The BBC has been in full on "state mode" quite a bit recently. Almost makes me feel patriotic, then I think "nah, I still want people to break in and kick the crap out of them". http://online.wsj.com/article/SB10001424052702303360504577412341713215970.html It was first reported here I think. The BBC is merely repeating it. Quote Link to comment Share on other sites More sharing options...
Tired of Waiting Posted May 19, 2012 Author Share Posted May 19, 2012 Well, let's wait and see. Nothing on the BBC would surprise me. Especially as they clearly have set "state mode" to on. OK. On the website they did write: "What will happen to UK mortgage rates if borrowing from foreign banks becomes more expensive?" I am hopeful. Quote Link to comment Share on other sites More sharing options...
koala_bear Posted May 19, 2012 Share Posted May 19, 2012 (edited) OK. On the website they did write: "What will happen to UK mortgage rates if borrowing from foreign banks becomes more expensive?" I am hopeful. Don't forget how much UK mortgage debt (in the form of 45% of the RMBS market) that JP Morgan's CIO unit was hoovering up, now if the brakes get put on that it will have a far greater effect than any increases in borrowing costs from overseas (i.e. eurozone afflicted) banks, as a very big tap will have been turned off. (Of course this won't get mentioned as it would scare the living daylights out of the average R4 listener) Edited May 19, 2012 by koala_bear Quote Link to comment Share on other sites More sharing options...
bmf Posted May 19, 2012 Share Posted May 19, 2012 OK. On the website they did write: "What will happen to UK mortgage rates if borrowing from foreign banks becomes more expensive?" I am hopeful. Ah yes I +think+ I remember that feeling... Quote Link to comment Share on other sites More sharing options...
Tired of Waiting Posted May 19, 2012 Author Share Posted May 19, 2012 Don't forget how much UK mortgage debt (in the form of 45% of the RMBS market) that JP Morgan's CIO unit was hoovering up, now if the brakes get put on that it will have a far greater effect than any increases in borrowing costs from overseas (i.e. eurozone afflicted) banks, as a very big tap will have been turned off. (Of course this won't get mentioned as it would scare the living daylights out of the average R4 listener) Good points. As I just wrote elsewhere, I think this year may be decisive. Quote Link to comment Share on other sites More sharing options...
Mrs Bear Posted May 19, 2012 Share Posted May 19, 2012 Yesterday 30% of customers into Santander were withdrawing all their cash. This won't help but I'd be surprised if it's fully truthful, this is after all state radio. The BBC has been in full on "state mode" quite a bit recently. Almost makes me feel patriotic, then I think "nah, I still want people to break in and kick the crap out of them". Well, I'm glad I closed my Santander savings a/c a few weeks ago and shifted my money out - all £1.32 of it. It was an old B&B a/c. After Sant. took over and I wanted to shift to a new a/c since bonus expiring, they demanded ID docs such as passport etc. even though I'd been with B&B for years. Bloody cheek of it. Moved virtually all my cash elsewhere - hence the £1.32, just in case. Quote Link to comment Share on other sites More sharing options...
Tired of Waiting Posted May 19, 2012 Author Share Posted May 19, 2012 Ah yes I +think+ I remember that feeling... Yes, I know, sometimes I wobble. But I do believe in gravity, it must win, either nominally or in real terms, property prices will have to come down. And I don't think the government has financial "fuel" to keep this bubble going for much longer. The markets creditors and new lenders will rebel at some point, against either too much QE or deficit or recession. It will burst. And the creditors and new lenders will dictate that. I think it could even happen this years, and at most in 2013. It cannot pass 2014, no way. Quote Link to comment Share on other sites More sharing options...
Tired of Waiting Posted May 19, 2012 Author Share Posted May 19, 2012 Money Box will start in 5 minutes, Radio 4. Quote Link to comment Share on other sites More sharing options...
simonp Posted May 19, 2012 Share Posted May 19, 2012 on santander moving deposits back to Spain...can not happen, illegal...hmmm Quote Link to comment Share on other sites More sharing options...
Gone baby gone Posted May 19, 2012 Share Posted May 19, 2012 Don't forget how much UK mortgage debt (in the form of 45% of the RMBS market) that JP Morgan's CIO unit was hoovering up, now if the brakes get put on that it will have a far greater effect than any increases in borrowing costs from overseas (i.e. eurozone afflicted) banks, as a very big tap will have been turned off. (Of course this won't get mentioned as it would scare the living daylights out of the average R4 listener) As I pointed out on another thread, this could have the effect of making RMBS very hard to shift, with the end result that the lending bank has to keep a large chunk of the mortgages it creates for quite some time (fancy that). They could push up interest rates, but since that is more likely to create a risk of default, something they will wish to avoid in a market where the underlying asset - the home - is reducing in value, I think they'll find that unsuccessful. Quote Link to comment Share on other sites More sharing options...
Tired of Waiting Posted May 19, 2012 Author Share Posted May 19, 2012 (edited) on santander moving deposits back to Spain...can not happen, illegal...hmmm Very bearish. But only re. the continent, Greece/Euro, etc., not the UK. Now interest rates and mortgages, though they've just veered back to Santander... . Edited May 19, 2012 by Tired of Waiting Quote Link to comment Share on other sites More sharing options...
Tired of Waiting Posted May 19, 2012 Author Share Posted May 19, 2012 Ah yes I +think+ I remember that feeling... You were right. Quote Link to comment Share on other sites More sharing options...
simonp Posted May 19, 2012 Share Posted May 19, 2012 wierd anglicised pronunciation of santander. Trying to distance santander UK from Spain? Quote Link to comment Share on other sites More sharing options...
bmf Posted May 19, 2012 Share Posted May 19, 2012 You were right. I agree gravity will come whatever they say. Moneybox is a load of shit. Pensioners moaning about nothing. Quote Link to comment Share on other sites More sharing options...
Pent Up Posted May 19, 2012 Share Posted May 19, 2012 (edited) Just a shame they had the usual **** ray Boulger on. The worse thing is his introduced as an expert so people believe the bull shit he spouts. Edited May 19, 2012 by Pent Up Quote Link to comment Share on other sites More sharing options...
Pent Up Posted May 19, 2012 Share Posted May 19, 2012 wierd anglicised pronunciation of santander. Trying to distance santander UK from Spain? So is it santandare, or santaander? Or santandire? Quote Link to comment Share on other sites More sharing options...
sims Posted May 19, 2012 Share Posted May 19, 2012 I know. But regarding mortgages, I just can't see how on earth they could avoid saying that interest rates can only go up. No way. People have been saying that in Japan for the last 30 years. Quote Link to comment Share on other sites More sharing options...
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