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Chicken Lickens Keep Telling Us Lenders Wont Pass On Rate Cuts


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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.

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Guest DissipatedYouthIsValuable
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.

That's nice dear. I'm more interested in the vendors passing on price cuts.

Edited by DissipatedYouthIsValuable
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Guest The_Oldie
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.

That's the third time you've mentioned that one. Are White Label loans a favourite at your mortgage brokerage?

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You gonna answer this Q l posed in the other thread where you already posted this info? Was it worth a new thread?

Could you advise what sort of arrangement fee (tacked onto overall mortgage naturally), and what sort of IRs these products require. Or is detail too much like reality for you?

sp corrected :ph34r:

I notice that first national only offer through brokers, so l guess that makes you one to have your finger on the pulse like.

How l envy you.

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Halifax, Nationwide, Abbey and RBS (yes the one you'all tell me is in deep do do) have also reduced 0.25%

WHITE LABEL - I mention Oldie because lots of you told me sub prime lending had all gone, yet here we have a new entrant with sub prime 95% products to boot

Strettttttch those reality tunnels campers

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Most have seemingly

Halifax, Nationwide, Abbey, Royal Bank of Scotland and NatWest all said they would be cutting their standard variable rates by 0.25% within seconds of the Bank of England's monetary policy committee (MPC) making its announcement.

Lloyds TSB, which also offers mortgages under the Cheltenham & Gloucester brand, Barclays' mortgage arm the Woolwich, HSBC and First Direct are also reducing their rates by a quarter-point, having said they would mirror the MPC's move ahead of its announcement.

No idea if they raised them first though.

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Guest The_Oldie
WHITE LABEL - I mention Oldie because lots of you told me sub prime lending had all gone, yet here we have a new entrant with sub prime 95% products to boot

From your website, I get the impression that you specialise in selling sub prime mortgages to bad credit risks, so you should know I suppose :rolleyes:.

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You gonna answer this Q l posed in the other thread where you already posted this info? Was it worth a new thread?

I know not of the fees, just the rate cuts. Common sense dictates fees will not rise. Lets monitor Nationwide and the others. Current tracker fees for Nationwide range from £0 to £1499.

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Didnt they all up their trackers by .45% a few weeks ago to get ready for this? Just to show that they are all jolly good sports and all?

I was onto a number of banks early last week re rates for fixed term deposits as some products are fixed on the day based on 'market rates' so you make your decision on the day based on rate and it applies for the full term. When I asked about waiting until next week after BOE decision to make deposit I got the reply "0.25% cut had already been factored in"

I know this is savings and not mortgages - but my money is on the same approach - they already factored this in the previous months rate increases so they look good passing it on now.

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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.

I've just witnessed the HPC on the Barnard Marcus thread the desperate lenders are practically giving their customers houses away :lol::lol::lol::lol::lol::lol::lol::lol: FOOL

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I know not of the fees, just the rate cuts. Common sense dictates fees will not rise. Lets monitor Nationwide and the others. Current tracker fees for Nationwide range from £0 to £1499.

Woolwich (barclays) tracker recently went up from +0.28 to +0.59 (0.69 in some cases I think).

I have been putting these figures every so often into the pinned thread at the top. You can do the same, as I think we should get signs of loosening as well as tightening.

It is just a PR stunt to say they have immediately reduced rates.

And let's look at the approval figures as they come through early next month.

And what of the CML/BBA saying that if the credit markets don't improve there will be a 100bn shortfall that they want the government to find for them?

Have you seen an increase in business db, over and above the usual "spring bounce"?

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I'm starting to get the impression that dogbox's thread can be interpreted as:

"Please please get a mortgage through me because I have nothing to do all day but spend time on HPC.co.uk, trying to turn around a falling market all by myself!" :rolleyes:

Hence the, now constant, Chicken Licken references – it must feel like the sky really is falling in for DB at the moment.

Don't worry DB, Foxy Loxy will soon put you out of your misery.

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Guest The_Oldie
I'm starting to get the impression that dogbox's thread can be interpreted as:

"Please please get a mortgage through me because I have nothing to do all day but spend time on HPC.co.uk, trying to turn around a falling market all by myself!" :rolleyes:

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.

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Guest The_Oldie
I wasn't aware dogbox had been outed? I thought he was just an impartial, dazzlingly savvy overseas investor. Arf!

Has anyone a link to his 'web-site'?

Yes, but I would not post it without his permission.

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Just to throw my two penneth in. I don't think it's even relevant that we have White label offering secured loans at 90% for subprime - what matters is how much they have to lend and how much they will charge the borrower, probably not much and a great deal respectively.

Anyway my main point was to back up the view that the margins on trackers have most certainly increased, as an example one BTL rate that was 0.76% BELOW BBR in sept is now 0.24% above - same terms + fees everything. A tasty 1% increase in the margin

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...he is in fact a mortgage broker...

ah - that explains a lot - his postings have been increasingly surreal recently.

since the numbers of mortgages has halved (ish), poor old doggy must be feeling the heat a bit, especially as i seem to recall he has a big mortgage himself!

i bet his eastern european property is doing well too! not. :lol:

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  • 444 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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