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George Osborne Says Brexit Will Drive Up Mortgage Rates

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http://www.theguardian.com/business/2016/apr/15/george-osborne-says-brexit-will-drive-up-interest-rates

George Osborne has issued a stark warning that mortgage rates will rise if Britain leaves the European Union.

The chancellor said he thought it was likely interest rates, and therefore the cost of home loans, would rise if Britons vote to leave the EU in the referendum on 23 June.

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As predictable as it is moronic, all they had to do is tell the masses that their mortgages will go up or houseprices will go down and they get the result they want.

Osborne may as well have just booked an advertising slot during BGT or the Voice for maximum return.

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I think there would be a run on the pound on June 24 th followed by an emergency budget. Interest rates would have to rise to stem the flow of money out of the UK so Osborne is probably correct about mortgage rates going up. From a purely selfish point of view, higher interest rates would be good for me but not so good anyone contemplating house purchase as prices would be kept up by more money printing etc.

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And now we see the advantage for the govt of having a population up to its collective eyeballs in debt. They'll do whatever you want them to do as long as you tie the outcome to the price of their home or the cost of servicing the debt on it. This country is finished.

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And now we see the advantage for the govt of having a population up to its collective eyeballs in debt. They'll do whatever you want them to do as long as you tie the outcome to the price of their home or the cost of servicing the debt on it. This country is finished.

+1

It is indeed but that isn't just a recent event.

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Nice Friday teatime press release, i bet it's all over the teatime news? with analysis from "experts"?

Something for voters to consider over the weekend?

Yup, repeating every ten minutes.

Personally, I can't think of a more compelling reason to vote to leave the EU. Cameron and Osborne out, London house prices fall 50%, interest rates rise. What is there not to like?

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Given that the Bank rate has been frozen at 0.5% for the last seven years, where else are future mortgage rates going except up?

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And so the blackmail begins.

I still have no idea what the actual question will be yet.

Would you like the UK to remain adjacent to the location in the vicinity of the area of the European Union?

Yes or no.

Edited by sPinwheel

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This fearorism worked on the Jocks

It did indeed, they closed the shipyard in Portsmouth down and shipped the work up to the Glasgow yards as a sweetener.

With the veiled threat that it would all be taken away again if Scotland voted for indepenence.

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I noticed the other main headline news tonight is a terrorism "bust" in Birmingham that was only achieved "thanks to co-operation between european intelligence agencies in Belgium, France & MI5"

News stressed that no charges have been made.

Edited by workingpoor

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And if mortgage rates don't go up from these historical lows, Mr Osborne? What does that say about the broader economic picture? About the labour market and wages?

About your endlessly vaunted 'recovery'?

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Well this country has a tremendous record of standing up to bullies.....second to none. (think Spanish Armada and WW2 etc.)

And all we have to do is to put a cross in the correct box......no one will know !

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I take it to mean he thinks the vote will be to leave :)

Since then, he has laid the foundations to blame the forthcoming inevitable rise in interest rates, Brexit or not, upon Brexit

Edited by LiveinHope

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  • The Prime Minister stated that there were three Brexit options available to the UK:   101 members have voted

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