Thursday, July 12, 2007

New Labour rubbish again

More 25-year fixed-rate mortgages?

With housing now top of the political agenda, Prime Minister Gordon Brown has put forward a plan to provide more long-term, fixed-rate mortgages as a key measure to control house prices. But will it work?

Posted by david20040_0 @ 01:21 PM (440 views)
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4 thoughts on “New Labour rubbish again

  • “If people want certainty of payment, then this is a way for letting that happen” The Treasury

    … not sure, the long term fixed bond will be issued at a premium (which is basically the cost of the fixed/variable swap)
    the bond market is be very very very competitive and there ain t free lunches. You pay a fair price to insure yourself against ir fluctuations, but the “punter” nature of the UK homebuyers will prevent this from taking up

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  • japanese uncle says:

    Incidentally, Crash Gordon has been published in the main stream media for the first time, I hope.

    My comment as follows, is on today’s Daily Mail.

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    Scrapping pension tax breaks, replacing PEP with much less attractive ISA, effectively discouraging savings, all these nicely paved the way to a nasty housing bubble as the money could not find promising home anywhere else. Still Gordon Brown claims to have done nothing wrong? Despite his pledge to end boom and bust, he will be remembered as ‘Crash Gordon’, most appropriately

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  • Give the guy a chance for god sake.

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