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Banks Cut Mortgage Rates Further

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Banks cut mortgage rates further

The cost of two- and three-year fixed and tracker rates is coming down by up to 0.1% after similar cuts last Friday.
It is generally expected that house prices may fall by between 15% and 20% in the course of this year and next.

So the best rates continue to be available only to those borrowers who can raise a deposit of 25% or more.

So basically , these great rates are only on offer to the 2% of the population that don't have any debt and have 40k in cash.

Yep, the housing market is dead alright.

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So basically , these great rates are only on offer to the 2% of the population that don't have any debt and have 40k in cash.........

....they want to waste on a falling asset....

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But no doubt the 0.1% cut will be seen as a positive, as that's what most people look at, whilst they have stealthly jacked up the LTV in the background.

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Guest absolutezero
Down a bit - up a bit more (than before) when BOE raises rates tomorrow...

I'll be surprised if they are anything more than "vigilant" tomorrow. The decision will probably be a hold. (Again.)

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But no doubt the 0.1% cut will be seen as a positive, as that's what most people look at, whilst they have stealthly jacked up the LTV in the background.

Depends on whether perception is reality. Does it not?

:P

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So basically , these great rates are only on offer to the 2% of the population that don't have any debt and have 40k in cash.

And to everyone who's been on the ladder long enough to have loads of equity who's looking to remortgage a short term deal, it's not all about FTBs.

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And to everyone who's been on the ladder long enough to have loads of equity who's looking to remortgage a short term deal, it's not all about FTBs.

Very true, but you try telling that to people who can't form chain at the moment. ;)

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Very true, but you try telling that to people who can't form chain at the moment. ;)

How would that affect all of those people I mentioned trying to remortgage at the end of their short term deals?

Not saying it'll restart the housing market but it makes for a reduced financial shock on remortgaging for a lot of people so in terms of the general economic slowdown it helps.

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  • 395 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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