Sackboii Posted February 20 Share Posted February 20 Santander has announced it will increase all residential and buy to let fixed rate mortgages for new customers from tomorrow. Rates will increase by as much as 0.34%. It is also raising selected residential and Buy to Let fixed rates in its product transfer range. Mortgage expert Lewis Shaw has warned the high street banking giant "won't be the last lender that is likely to increase their rates this week in response to volatile swap rates". Oh dear, never mind. https://news.sky.com/story/money-blog-interest-mortgage-rates-inflation-sky-news-latest-13040934?postid=7258546#liveblog-body Quote Link to comment Share on other sites More sharing options...
Frankie Teardrop Posted February 20 Share Posted February 20 Spring bounce cancelled. Quote Link to comment Share on other sites More sharing options...
Unmoderated Posted February 20 Share Posted February 20 https://news.sky.com/story/money-blog-interest-mortgage-rates-inflation-sky-news-latest-13040934?postid=7258479#liveblog-body Also says recession is weakest since 1970, already signs of an upturn and that inflation wont need to return to target before base rate gets cut. 33 minutes ago, Frankie Teardrop said: Spring bounce cancelled. That's the highest increase. For a £300K mortgage it would be about £80 a month...... Quick look at their website and a 75% LTV two year fix is 4.15% - barely over inflation. 85% 4.52%..... and the five year fixes are even cheaper! Quote Link to comment Share on other sites More sharing options...
hotblack42 Posted February 20 Share Posted February 20 Ooh, nice juicy ISA cash rate in Apr hopefully.😎 Quote Link to comment Share on other sites More sharing options...
Sackboii Posted February 22 Author Share Posted February 22 Now HSBC are at it following Santander, Coventry and TSB.. https://news.sky.com/story/mortgage-rates-inflation-energy-price-cap-bills-latest-sky-news-money-blog-13040934 HSBC hiking mortgage rates tomorrow in 'hammer blow' to housing market HSBC has announced it will reprice its mortgage rates upwards from tomorrow - following similar moves by Santander, Coventry and TSB this week. Quote Link to comment Share on other sites More sharing options...
dpg50000 Posted February 22 Share Posted February 22 42 minutes ago, Sackboii said: Now HSBC are at it following Santander, Coventry and TSB.. https://news.sky.com/story/mortgage-rates-inflation-energy-price-cap-bills-latest-sky-news-money-blog-13040934 HSBC hiking mortgage rates tomorrow in 'hammer blow' to housing market HSBC has announced it will reprice its mortgage rates upwards from tomorrow - following similar moves by Santander, Coventry and TSB this week. This can't be right. @Stewy assured us (in no particular order): 1) BOE rate cuts were baked in for Dec 23 and Feb 24 - they weren't 2) Deflation was coming - it's not, and post-April when the large energy rises drop out, inflation will probably start ascending again. 3) The economy is strong and it will be a great year - we're in recession and job losses are mounting 4) The BOE were behind the curve and the markets had adjusted to the new reality - seems the Markets got giddy and overshot 5) Mortgage rates will return to a 1 handle - hmmm..... Quote Link to comment Share on other sites More sharing options...
Stewy Posted February 22 Share Posted February 22 Interest rates were cut - by the market. BoE are stumbling around behind the curve. Deflation is here. We are now out of recession (that's if one ever really happened). 2024 will be Great Again! ✓✓✓✓ Quote Link to comment Share on other sites More sharing options...
dpg50000 Posted February 22 Share Posted February 22 8 minutes ago, Stewy said: Interest rates were cut - by the market. BoE are stumbling around behind the curve. Deflation is here. We are now out of recession (that's if one ever really happened). 2024 will be Great Again! ✓✓✓✓ CPI and RPI figures would say otherwise to deflation. We're now out of recession? So you have access to figures the BOE don't? Or are you just talking s**te, as per usual? Quote Link to comment Share on other sites More sharing options...
Stewy Posted February 22 Share Posted February 22 16 minutes ago, dpg50000 said: CPI and RPI figures would say otherwise to deflation. We're now out of recession? So you have access to figures the BOE don't? Or are you just talking s**te, as per usual? All indices are showing deflation since autumn. ✓ Quote Link to comment Share on other sites More sharing options...
Maghull Mike Posted February 22 Share Posted February 22 5 hours ago, dpg50000 said: This can't be right. @Stewy assured us (in no particular order): 1) BOE rate cuts were baked in for Dec 23 and Feb 24 - they weren't 2) Deflation was coming - it's not, and post-April when the large energy rises drop out, inflation will probably start ascending again. 3) The economy is strong and it will be a great year - we're in recession and job losses are mounting 4) The BOE were behind the curve and the markets had adjusted to the new reality - seems the Markets got giddy and overshot 5) Mortgage rates will return to a 1 handle - hmmm..... "5) Mortgage rates will return to a 1 handle - hmmm..... ? Mike Quote Link to comment Share on other sites More sharing options...
dpg50000 Posted February 22 Share Posted February 22 1 hour ago, Maghull Mike said: "5) Mortgage rates will return to a 1 handle - hmmm..... ? Mike It was one of Stewy's many nonsense posts. Quote Link to comment Share on other sites More sharing options...
markyh Posted February 22 Share Posted February 22 6 hours ago, Stewy said: Interest rates were cut - by the market. BoE are stumbling around behind the curve. Deflation is here. We are now out of recession (that's if one ever really happened). 2024 will be Great Again! ✓✓✓✓ Anecdotally , the Solar PV market has gone Banana's bust again since January. Only December was a lull. Quote Link to comment Share on other sites More sharing options...
Tony_Teacake Posted February 22 Share Posted February 22 January sale already over on mortgage rates. Now that didn't last long. Quote Link to comment Share on other sites More sharing options...
fellow Posted February 22 Share Posted February 22 16 minutes ago, dpg50000 said: It was one of Stewy's many nonsense posts. I remember ROFL to to that one. Quote Link to comment Share on other sites More sharing options...
Tony_Teacake Posted February 22 Share Posted February 22 20 minutes ago, dpg50000 said: It was one of Stewy's many nonsense posts. He really needs to keep off the glue. Quote Link to comment Share on other sites More sharing options...
Huggy Posted February 22 Share Posted February 22 The BBC's headline is quite understated. Guess who doesn't want to scare the masses/their own reporters. Emphasis mine, and shame we haven't got the 'chiller' font to combine with the red text HSBC, NatWest and Virgin Money changing interest rates https://www.bbc.co.uk/news/business-68374500 Quote More mortgage providers will increase their rates on new fixed deals on Friday following a series of changes since the start of the year. January saw lenders cutting their rates sharply, bringing some relief to 1.6 million people set to remortgage this year. I like the most often asked question is there, linked near the top of the article, offering the most important and critical information to the debt junkies and over-mortgaged news reporters all over the corporation. What are UK interest rates and when will they fall? Quote Link to comment Share on other sites More sharing options...
Maghull Mike Posted February 22 Share Posted February 22 Bonds to be sold to savers amid fears of lack of demand for British debt Move will put individual investors on a par with big City institutions for first time Tim Wallace22 February 2024 • 3:58pm Related Topics Bonds, Debt, UK economy Ordinary savers will be able to buy Government bonds directly from the Treasury in a move that will put individual investors on a par with big City institutions for the first time. The Debt Management Office (DMO) will allow retail investors to take part in auctions of gilts, as UK government bonds are known, rather than having to wait to buy the debt from institutions on the secondary market. It offers an alternative to National Savings and Investment (NS&I), the usual vehicle the Government uses to borrow money from the public. The first gilt that ordinary people will be able to buy in this manner is a 4pc bond maturing in 2031, which the DMO will issue on February 29. The DMO aims to raise £4bn for the Exchequer with the bond. The change comes at a time when the Government is issuing record amounts of gilts, partly because it is borrowing heavily and partly because a large amount of debt issued in previous years is maturing and needs to be refinanced. There are fears the Government could struggle to find buyers for all of its debt. The Bank of England is selling down its portfolio of bonds bought under the quantitative easing programme at the same time as the DMO is charged with selling record quantities of gilts, potentially flooding the market. Concerns over demand for long-term gilts have also been stoked by the fact that final salary pension funds, which had previously been reliable investors in the market, are increasingly selling off bonds to pay out pensions. Without reliable buyers, the Government may have to offer higher interest rates to tempt foreign investors to buy British debt. Allowing individual savers into the auctions raises the possibility they will be able to benefit from a slightly lower price, resulting in slightly higher returns than those typically available when buying gilts from brokers. Savers can use accounts at Hargreaves Lansdown and Interactive Investor to place orders for gilts directly from the Government. More than 25,000 investors already hold gilts bought through the secondary market with Hargreaves, indicating a degree of demand from savers. Tim Jacobs, head of primary markets at Hargreaves Lansdown, said the new setup “is a ‘first’ for retail investors and gives them fair access to gilts in the primary market under favourable terms”. He said: “Muted equity markets and higher interest rates have led to a significant rise in client demand for fixed interest products. “The conventional auction process for gilts is designed for institutions and may not be suitable for some retail investors. However, the new process invites retail investors to participate with favourable terms.” A DMO spokesman said: “We welcome this collaborative, market-led initiative. We value the importance of having as diverse an investor base as possible and this initiative will provide retail investors with an additional opportunity to access gilts forming part of the current auction programme, in addition to the variety of routes already available in the secondary market.” Quote Link to comment Share on other sites More sharing options...
nero120 Posted February 22 Share Posted February 22 8 minutes ago, Maghull Mike said: Bonds to be sold to savers amid fears of lack of demand for British debt Exactly! What have I been saying about the UK being one failed gilt auction from oblivion!! This is a tacit admission that they know this also. Quote Link to comment Share on other sites More sharing options...
Maghull Mike Posted February 22 Share Posted February 22 1 hour ago, nero120 said: Exactly! What have I been saying about the UK being one failed gilt auction from oblivion!! This is a tacit admission that they know this also. Yes, once international investors say "No" or no to a very low lever of interest then expect rates to rocket. US has the $ & lots of other things to hand, Britain has none. Mike Quote Link to comment Share on other sites More sharing options...
Stewy Posted February 23 Share Posted February 23 2 hours ago, Maghull Mike said: Bonds to be sold to savers amid fears of lack of demand for British debt Move will put individual investors on a par with big City institutions for first time Tim Wallace22 February 2024 • 3:58pm Related Topics Bonds, Debt, UK economy Ordinary savers will be able to buy Government bonds directly from the Treasury in a move that will put individual investors on a par with big City institutions for the first time. The Debt Management Office (DMO) will allow retail investors to take part in auctions of gilts, as UK government bonds are known, rather than having to wait to buy the debt from institutions on the secondary market. It offers an alternative to National Savings and Investment (NS&I), the usual vehicle the Government uses to borrow money from the public. The first gilt that ordinary people will be able to buy in this manner is a 4pc bond maturing in 2031, which the DMO will issue on February 29. The DMO aims to raise £4bn for the Exchequer with the bond. The change comes at a time when the Government is issuing record amounts of gilts, partly because it is borrowing heavily and partly because a large amount of debt issued in previous years is maturing and needs to be refinanced. There are fears the Government could struggle to find buyers for all of its debt. The Bank of England is selling down its portfolio of bonds bought under the quantitative easing programme at the same time as the DMO is charged with selling record quantities of gilts, potentially flooding the market. Concerns over demand for long-term gilts have also been stoked by the fact that final salary pension funds, which had previously been reliable investors in the market, are increasingly selling off bonds to pay out pensions. Without reliable buyers, the Government may have to offer higher interest rates to tempt foreign investors to buy British debt. Allowing individual savers into the auctions raises the possibility they will be able to benefit from a slightly lower price, resulting in slightly higher returns than those typically available when buying gilts from brokers. Savers can use accounts at Hargreaves Lansdown and Interactive Investor to place orders for gilts directly from the Government. More than 25,000 investors already hold gilts bought through the secondary market with Hargreaves, indicating a degree of demand from savers. Tim Jacobs, head of primary markets at Hargreaves Lansdown, said the new setup “is a ‘first’ for retail investors and gives them fair access to gilts in the primary market under favourable terms”. He said: “Muted equity markets and higher interest rates have led to a significant rise in client demand for fixed interest products. “The conventional auction process for gilts is designed for institutions and may not be suitable for some retail investors. However, the new process invites retail investors to participate with favourable terms.” A DMO spokesman said: “We welcome this collaborative, market-led initiative. We value the importance of having as diverse an investor base as possible and this initiative will provide retail investors with an additional opportunity to access gilts forming part of the current auction programme, in addition to the variety of routes already available in the secondary market.” This sounds an excellent idea. Gilts are unbelievable value right now. ✓✓ Quote Link to comment Share on other sites More sharing options...
LetsBuild Posted February 23 Share Posted February 23 10 hours ago, Maghull Mike said: Bonds to be sold to savers amid fears of lack of demand for British debt Move will put individual investors on a par with big City institutions for first time Tim Wallace22 February 2024 • 3:58pm Related Topics Bonds, Debt, UK economy Ordinary savers will be able to buy Government bonds directly from the Treasury in a move that will put individual investors on a par with big City institutions for the first time. The Debt Management Office (DMO) will allow retail investors to take part in auctions of gilts, as UK government bonds are known, rather than having to wait to buy the debt from institutions on the secondary market. It offers an alternative to National Savings and Investment (NS&I), the usual vehicle the Government uses to borrow money from the public. The first gilt that ordinary people will be able to buy in this manner is a 4pc bond maturing in 2031, which the DMO will issue on February 29. The DMO aims to raise £4bn for the Exchequer with the bond. The change comes at a time when the Government is issuing record amounts of gilts, partly because it is borrowing heavily and partly because a large amount of debt issued in previous years is maturing and needs to be refinanced. There are fears the Government could struggle to find buyers for all of its debt. The Bank of England is selling down its portfolio of bonds bought under the quantitative easing programme at the same time as the DMO is charged with selling record quantities of gilts, potentially flooding the market. Concerns over demand for long-term gilts have also been stoked by the fact that final salary pension funds, which had previously been reliable investors in the market, are increasingly selling off bonds to pay out pensions. Without reliable buyers, the Government may have to offer higher interest rates to tempt foreign investors to buy British debt. Allowing individual savers into the auctions raises the possibility they will be able to benefit from a slightly lower price, resulting in slightly higher returns than those typically available when buying gilts from brokers. Savers can use accounts at Hargreaves Lansdown and Interactive Investor to place orders for gilts directly from the Government. More than 25,000 investors already hold gilts bought through the secondary market with Hargreaves, indicating a degree of demand from savers. Tim Jacobs, head of primary markets at Hargreaves Lansdown, said the new setup “is a ‘first’ for retail investors and gives them fair access to gilts in the primary market under favourable terms”. He said: “Muted equity markets and higher interest rates have led to a significant rise in client demand for fixed interest products. “The conventional auction process for gilts is designed for institutions and may not be suitable for some retail investors. However, the new process invites retail investors to participate with favourable terms.” A DMO spokesman said: “We welcome this collaborative, market-led initiative. We value the importance of having as diverse an investor base as possible and this initiative will provide retail investors with an additional opportunity to access gilts forming part of the current auction programme, in addition to the variety of routes already available in the secondary market.” Wow, the new Labour government is not going to be able to do anything but increase taxes and cut public spending big time. Better put those house price props away. Quote Link to comment Share on other sites More sharing options...
Sackboii Posted February 26 Author Share Posted February 26 Coventry increases all fixed rates Coventry has just announced it is increasing fixed rates for residential and buy-to-let customers from Tuesday night. They follow a host of major lenders in doing so over the last week - in response to rising swap rates (these dictate the cost of lending money). The bigger picture is that markets still expect a base rate cut from 5.25% to 5% this summer - but they now see it as more likely in June than May. Coventry is the only lender that gives 48 hours' notice of changing rates - meaning brokers have enough time to advise clients rather than rushing to get applications submitted within a small window. Kate Eatenton, mortgage specialist and Lifetime Wealth Management, told Newspage: "This is not a good start to the week, especially considering Coventry only increased rates last week. It would be good to see some rates decrease this week. All eyes will be on swap rates." Quote Link to comment Share on other sites More sharing options...
the_duke_of_hazzard Posted February 26 Share Posted February 26 On 22/02/2024 at 13:25, Stewy said: Interest rates were cut - by the market. BoE are stumbling around behind the curve. Deflation is here. We are now out of recession (that's if one ever really happened). 2024 will be Great Again! ✓✓✓✓ They were cut by the market, then rose again: https://tradingeconomics.com/united-kingdom/government-bond-yield which is why the market is raising interest rates again. The BoE were right to hold steady. Quote Link to comment Share on other sites More sharing options...
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