tahoma Posted February 7, 2008 Share Posted February 7, 2008 Yes, but I would not post it without his permission. Probably a good thing. I might be tempted into giving him a fat commission on a lifetime of usury to get into my dream hovel. Quote Link to comment Share on other sites More sharing options...
Leonard Hatred Posted February 7, 2008 Share Posted February 7, 2008 Isn't Barclays' SVR 7.44%? Yes, that'll ease the pain of resets. Not to mention that, up here, the effect of today's cut is wiped out by this year's Council Tax rise anyway. Quote Link to comment Share on other sites More sharing options...
Levy process Posted February 7, 2008 Share Posted February 7, 2008 Dogbox, the 0.25% cut won't make any difference. The crash is on. You know it. Everyone knows it. Give over. Quote Link to comment Share on other sites More sharing options...
A Fool & His Borrowed Money Posted February 7, 2008 Share Posted February 7, 2008 That's pretty much how it is.The problem is that his tactic is to attempt to belittle the members of this site with his farcical references to pessimists, chickens etc etc etc. I shall therefore point out that he is in fact a mortgage broker whenever I see posts of that nature so that the members of this site know where he is coming from. Dogbox is Tom Vu & i claim my 5 pounds! "You are loser, get out of my way, i make it somehow!" Arf Quote Link to comment Share on other sites More sharing options...
Maggot_with_halitosis Posted February 7, 2008 Share Posted February 7, 2008 Barclays and First National a horrid, sub prime, desperate lender have cut rates 0.25%.Other news - White Label loans has just entered the UK sub prime market with a 95% offering and will even accept self cert lie to buys at 90% with adverse credit. Well obviously they're kindly bankers with all our best interests at heart, not ruthless money-grubbers. You've completely destroyed my naive opinions with that concrete evidence. I feel ashamed for being such a cynical chicken-licken. Quote Link to comment Share on other sites More sharing options...
shouter Posted February 7, 2008 Share Posted February 7, 2008 Not to mention that, up here, the effect of today's cut is wiped out by this year's Council Tax rise anyway. It's pretty much across the board that any drop in interest rates will be cancelled out by council tax, the hike in fuel prices, the ridiculously expensive food or the amount that other taxes are going to have to pay for all the non-British nationals children that they are claiming child benefit for! Quote Link to comment Share on other sites More sharing options...
Oliver Sutton Posted February 7, 2008 Share Posted February 7, 2008 Give it a break dogbox. It's over and you know it. As though 'White Label' loans are going to prop up the UK housing market. Don't be harsh on him. There's also Johny Walker mortgages and Bells mortgages. Or is he just staring at his drinks cabinet. He doesn't do it in the morning so he's still got something to do in the afternnoon. Quote Link to comment Share on other sites More sharing options...
RajD Posted February 7, 2008 Share Posted February 7, 2008 (edited) What!!! Dogbol*ox is a mortgage lender. Who'd have thunk it!! I've got my eye on a £500,000 end of terrace 3-bed ex-crackhouse in Moss Side, Manchester. Some might say it's a tad overpriced, and that I might be slightly overstretching myself, given that I'm on £10,000 a year. Personal plea to DB - any chance of arranging a 200% LTV on said property? - oh, and on a 50 year repayment term (given that I'm 48 and I might be dead before I've repaid - is this an issue?) Edited February 7, 2008 by RajD Quote Link to comment Share on other sites More sharing options...
DabHand Posted February 7, 2008 Share Posted February 7, 2008 Doglad, best get yourself over to the "other" site. They seem to take bewildered bulls under their wing with much apparent affection. You can spend the rest of your posting days in a virtual wheelchair, a touch of chin dribble and tartan blanket, complaining about how HPC turfed you out and what rotters we all are. Quote Link to comment Share on other sites More sharing options...
laurejon Posted February 7, 2008 Share Posted February 7, 2008 (edited) There is plenty of mileage left in house price inflation. Travel across the world and you will find three of four families sharing a single property, its quite simple to do the maths. If you travel up north you will find that immigrant communites are building small units in their back gardens and renting them out to families. There remains a huge potential for the UK to have higher house prices, a typical three family unit composed of 6 partners on an average salary of 25k could raise a mortgage of 900k, If they converted the garage and let it out at 1k pcm, and let the roof space to grow cannabis they could easily afford to repay the original mortgage in under 40 years, and make a huge profit, in addition they would be offsetting their carbon footprint. Edited February 7, 2008 by laurejon Quote Link to comment Share on other sites More sharing options...
0q0 Posted February 7, 2008 Share Posted February 7, 2008 There is plenty of mileage left in house price inflation.Travel across the world and you will find three of four families sharing a single property, its quite simple to do the maths. If you travel up north you will find that immigrant communites are building small units in their back gardens and renting them out to families. There remains a huge potential for the UK to have higher house prices, a typical three family unit composed of 6 partners on an average salary of 25k could raise a mortgage of 900k, If they converted the garage and let it out at 1k pcm, and let the roof space to grow cannabis they could easily afford to repay the original mortgage in under 40 years, and make a huge profit. Plus of course some garage roofs have scope to be used as a helipad which brings in even more revenue, plus the scope to tunnel under the garden and use that as storage space for Big Yellow or a similar franchise (or indeed let it to Olympic builders). Front gardens are another matter, of course, there you're probably just restricted to renting out the space for mobile phone unlockers and sim card sales pitches. Quote Link to comment Share on other sites More sharing options...
bdon Posted February 7, 2008 Share Posted February 7, 2008 Surely on HPC.co.uk there is only one true colour - Johnnie Walker GOLD :-) Quote Link to comment Share on other sites More sharing options...
the end is a bit nigher Posted February 7, 2008 Share Posted February 7, 2008 (edited) White Label Loans part of the West Bromwich Building Society? Just quoted me a very reasonable 6.2% APR over 2 years for a low LTV with no adverse Also quoted me 7.9% APR with a £2k CCJ Not bad rates, but not leading edge, and more importantly, higher than 2 years ago BTW - if you want to cut out the mortgage broker, then try here - has deals from all reputable lenders - I found my friend the most suitable mortgage for him a few months ago - being a wise soul he went to an independent fa who found him the same deal - proves not all fas are sharks Edited February 7, 2008 by the end is nigh Quote Link to comment Share on other sites More sharing options...
howarden Posted February 8, 2008 Share Posted February 8, 2008 07.02.2008 http://www.telegraph.co.uk/money/main.jhtm...7/nbanks107.xml In the past few weeks 10 mortgage lenders, including the Royal Bank of Scotland, Alliance & Leicester and the country's biggest building society, the Nationwide, have increased some of their rates, despite the Bank cutting rates from 5.75 per cent to 5.5 in December. It's just PR, hike by 0.15% a couple of weeks before, then announce full cuts on the day of the MPC announcement. Their funding cost has reduced broadly in line with BoE cut (wholesale market rates and deposits) so you would expect the lending rates to reduce accordingly. Best comparison is what their SVRs were last time BoE rates were at 5.25%, tough to find historical data though. Quote Link to comment Share on other sites More sharing options...
Paddles Posted February 8, 2008 Share Posted February 8, 2008 I love Dogbox. Pop up a new topic then go to bed. In the meantime we all debate the relavance for 2 hours until we realise there is none. Meanwhile Martinlsmith and Dogbox have done at least 3 positions from the KarmaSutra. Who's the loser, eh? Quote Link to comment Share on other sites More sharing options...
Fully Detached Posted February 8, 2008 Share Posted February 8, 2008 Meanwhile Martinlsmith and Dogbox have done at least 3 positions from the KarmaSutra. Do they know each other then? Quote Link to comment Share on other sites More sharing options...
Guest muttley Posted February 8, 2008 Share Posted February 8, 2008 Do they know each other then? Excellent! Quote Link to comment Share on other sites More sharing options...
Alfie Moon Posted February 8, 2008 Share Posted February 8, 2008 See: http://business.timesonline.co.uk/tol/busi...icle3330656.ece The TimesFebruary 8, 2008 Lenders are criticised as cut in interest rate fails to curb mortgage levels Mortgage brokers said that banks and building societies — including Bradford & Bingley, Nationwide and Intelligent Finance — had increased the cost of tracker mortgages for new borrowers by up to 0.55 per cent over recent weeks in an attempt to offset this month’s interest-rate cut. Related Links Bank of England cuts interest rates to 5.25% The Times MPC: the February verdict Halifax, NatWest, Woolwich, Abbey, Nationwide and HSBC said that they would cut their rates by a quarter point, but brokers suggested that this was effectively an empty gesture, because relatively few borrowers were on deals linked to their lender’s standard variable rate. Yep, dogbox let's keep a track of Nationwide. Quote Link to comment Share on other sites More sharing options...
lulu Posted February 8, 2008 Share Posted February 8, 2008 What!!! Dogbol*ox is a mortgage lender. Who'd have thunk it!! What? really?! I thought they were something else - not neccesarily entirely printable. Quote Link to comment Share on other sites More sharing options...
0q0 Posted February 8, 2008 Share Posted February 8, 2008 I love Dogbox. Pop up a new topic then go to bed.In the meantime we all debate the relavance for 2 hours until we realise there is none. Meanwhile Martinlsmith and Dogbox have done at least 3 positions from the KarmaSutra. Who's the loser, eh? Do they know each other then? quality Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted February 8, 2008 Share Posted February 8, 2008 See:http://business.timesonline.co.uk/tol/busi...icle3330656.ece The TimesFebruary 8, 2008 Lenders are criticised as cut in interest rate fails to curb mortgage levels Mortgage brokers said that banks and building societies — including Bradford & Bingley, Nationwide and Intelligent Finance — had increased the cost of tracker mortgages for new borrowers by up to 0.55 per cent over recent weeks in an attempt to offset this month's interest-rate cut. Related Links Bank of England cuts interest rates to 5.25% The Times MPC: the February verdict Halifax, NatWest, Woolwich, Abbey, Nationwide and HSBC said that they would cut their rates by a quarter point, but brokers suggested that this was effectively an empty gesture, because relatively few borrowers were on deals linked to their lender's standard variable rate. Yep, dogbox let's keep a track of Nationwide. I think it might be wrong to suspect Banks of raising rates in advance to counter a future rate cut, money IS more expensive, and Banks deal in this more expensive money, so rates have tobe raised, much like petrol prices are raised as the oil price rises. As money becomes more expensive as the credit crunch proceeds, we may well see further rises in Banks lending rates, and the BoE may well see this self "regulation" of interest rates as being sufficient to do the their job for inflation for them. Meanwhile, as the public is squeezed for inflation reduction, the banks themselves, who need to borrow capital just to survive, end up paying less for it. This would fit in with the FACT that hundreds of Billions of losses are to be discovered in the coming months, and the Central Banks attempts to trade the Bankers out of the problem, ie "little" problems dealt with one at a time Quote Link to comment Share on other sites More sharing options...
Austin Allegro Posted February 8, 2008 Share Posted February 8, 2008 I prefer White Lightning mortgages. You get a park bench and a cardboard box to sleep in, with off street parking for your carrier-bag laden shopping cart for just £250k. They'll also throw in a 'hungry and homeless' cardboard sign for free. Quote Link to comment Share on other sites More sharing options...
Guest muttley Posted February 8, 2008 Share Posted February 8, 2008 I prefer White Lightning mortgages. You get a park bench and a cardboard box to sleep in, with off street parking for your carrier-bag laden shopping cart for just £250k. They'll also throw in a 'hungry and homeless' cardboard sign for free. It's always struck me as strange that the preferred drink of the homeless is called Tenants. Quote Link to comment Share on other sites More sharing options...
Paddles Posted February 8, 2008 Share Posted February 8, 2008 It's always struck me as strange that the preferred drink of the homeless is called Tenants. Very good! Can I have permission to use that line? Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.