Tuesday, October 14, 2008

Will it be easier to get a mortgage now?

So does this mean the financial crisis is over?

"it ought to be. The part-nationalised banks are committed to returning to 2007 levels of lending. New mortgages are at only 30 per cent of last year's levels, so something had to be done. We'll see big cuts in interest rates too." .....as predicted ramping growing in decibels, Krusty and Phil will be renegotiating a new series of Location etc. As GB has always said - 'House prices only ever go up and if they don't I'll Bl**dy well fix it so they do". This rescue package on the whole is good to stabilise a very shaky financial sector, but to insist the lenders (responsible for 45% of all mortgages in the UK) return to 2007 levels of mortgages is plain criminal and done purely for votes and not the long term stability of UK PLC.

Posted by bystander @ 01:43 PM (537 views)
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4 thoughts on “Will it be easier to get a mortgage now?

  • Throwing guaranteed money to banks to entice them to lend to each other has not worked ( 3 months libor and above are so high they prove the point). Why on earth would people take on mortgages when they are not even sure they ll have a job by year end.
    Only fools will believe this garbage talk by the government that banks can lend at last year’s level. It is a joke.

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  • “…banks are committed to returning to 2007 levels of lending”

    They don’t have enough money to lend. So it can’t happen.

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  • brightonrentfodder says:

    So what Brown really wants is for us to spend spend spend then, get house prices back up again say we’ve got the old “feel good factor” and then call a quick election so he can stay in power for another 5 years, just like his crony Blair did. what he’s actually gonna cause by doing that is a 1930’s depression! WHAT A PRK! I think his next move will be to force the RBOS to lend stupid amounts of money to irresponsible people, he can force them to cos he’s got, correct if I’m wrong, a 20% holding in the business now! then the bank really will go down the toilet. Get your money out of NATWEST quick!

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  • Brown’s injections are to boost capital ratios.

    Please note this does not stop them making continued losses on previous bad investments and loans! For example, a lot more houses could default soon. A lot more property companies could default as shops close up in shopping malls etc…

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