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NotMyHouse

The Great British Mortgage Scam!

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The Great British Mortgage Scam

Our exclusive research has revealed that building-society-turned-bank Halifax has taken advantage of historically low interest rates by bumping up its margins to extremely attractive (and near-record) levels. In other words, it (and other lenders) have secretly cashed in on the low Bank base rate in a sly ruse to make record profits for shareholders.

Well, who'd have thought that mortgage companies (led by the Halifax) would try to make excess profits during the period of low interest rates?

That'll cheer up all those on £100,000 plus mortgages.

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The Great British Mortgage Scam

Well, who'd have thought that mortgage companies (led by the Halifax) would try to make excess profits during the period of low interest rates?

That'll cheer up all those on £100,000 plus mortgages.

which means most of the FTB

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This could be to do with building societies taking IRs into their own hands. Higher SVRs yes, but also very high savings rates - AL&L currently offering 15%.

I agree that the regular savers encourage savings to allow the building society to lend more and make more money, but you must admit that the net effect of high SVRs and high savings rates is so discourage debt and encourage credit.

Hasn't worked of course...

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Unfortunately this could be bullish news - means that there is scope for delaying the passing on of rate rises to the customer.

Good one. :D

Scope for paying a special dividend more like.

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