Thursday, February 21, 2013

Government run UK housing market – will UK government ever keep out?

Fixed mortgage rates at lowest level for over 20 years (but you still need to find a deposit)

Homeowners are benefiting from the cheapest fixed rate mortgages since they were introduced in 1989, a report revealed today. The research, by the financial information firm Moneyfacts, said the cost of these hugely popular types of home loans are ‘dropping like stones’. At present, around 80 per cent of people who buy a home or remortgage their existing loan opt for a fixed rate deal.

Posted by hpwatcher @ 07:03 AM (2035 views)
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5 thoughts on “Government run UK housing market – will UK government ever keep out?

  • It’s a con! They )the banking cartel) are offering short term fix the rate in the knowledge that when rates suddenly rise the bankrenter is left on the hook for high repayments.

    They should be offering fixed rates for the life of the mortgage.

    In effect they are just offering 3/5 year teaser rates.

    Mortgage rates in Europe have been rising as banks recapitalize here in Ireland the average svr mortgage rate will reach 5% in a couple of months time.
    AIB mortgage hike will cost €1,000 per year

    When the UK can’t print any more this is exactly what will happen, and looking at the pound vs euro I think the UK is reaching that point.

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  • They have been manipulating, trying to stimulate growth with low interest rates – debt – since 2004. They won’t stop, so someone is going to have to do it for them. The new BoE head looks set to continue until there is growth – his job depends upon it – so expect your savings to be worth NOTHING until you take some form of action.

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  • @hpwatcher.
    Genuinely, as a saver, what can we do?

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  • What growth really equates to is a productivity increase over energy cost.

    they cannot print that.

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