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Nationwide And Halifax Put Up Mortgage Rate To Deter New Customers

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The credit crunch means no money for high risk loans. Due to the 5th month in a row of falling houseprices the new prudence among bankers dictates just saying no as the chances of default are high. The market has essentially locked up. How significant? Well, from a HPCers perspective it doesn't get any better than this. Or as the "fat man" would have said:

How sweet it is!

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Its a sign that IRs are coming down and they wont want to be forced to raise there rates after an IR decision. Better to raise rates now, they then naturally fall when base rate falls, they can tell FTBers that rates have fallen due to BOE dropping Base rate ;p

Edited by moosetea

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More lenders stop lending

http://www.guardian.co.uk/money/2008/mar/2...tgages.property

Will we get to a stage where no one can remortgage and everyone will end up on SVRs ?

The Banks knew this was where the game would end.

'We will have them by the nuts; squeeze until the pips squeak and then have the property anyway. The state will pay the rent for it afterwards, forever'.

The new social landlords will indeed be Banks.

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Its a sign that IRs are coming down and they wont want to be forced to raise there rates after an IR decision. Better to raise rates now, they then naturally fall when base rate falls, they can tell FTBers that rates have fallen due to BOE dropping Base rate ;p

Exactly, just as they are doing in the US.

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It can only get worse... thats the tightening of course.

I'm sure this will help or contribute to the speed of any impending HPC.

Why lend money if you ain't going to get it back or find finance in the first place - why didn't the banks take this into consideration 2 - 3 years ago??

Credit Crunch - Brilliant !!

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  • 295 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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