Mortgage advisors help needed ..

[Acidmouse]

Well if we mirror whats happened in the states its only going to get worse. Sold house in last year and the property developer that bought it cant sell it now for 30% less then what he bought it for and its still going down.

Now if we could only get the $ to  increase in value a bit I can payoff my mortgage

[AndrewT]

Why is HSBC a swearword on this thread?

[boldie]

Well if we mirror whats happened in the states its only going to get worse. Sold house in last year and the property developer that bought it cant sell it now for 30% less then what he bought it for and its still going down.

Now if we could only get the $ to  increase in value a bit I can payoff my mortgage

the $ won't increase in value for a long time, I think.

[TightEnd]

its HBOS isn't it?

[kinboshi]

Why is HSBC a swearword on this thread?

[boldie]

Why is HSBC a swearword on this thread?

Because Kev's with the Royal Bank of Scotland.

[boldie]

its HBOS isn't it?

.


no.

[TightEnd]

I beleive it should be.

[Graham C]

I do think its funny that banks are labled as greedy, its not as if they are a business and need to make a profit.

For personal accounts they're fine, but for business, they are so expensive for everything and generally, you have no option to use a bank.      They charge to put money in, they charge to take money out, they charge annually to set up overdrafts, they obviously charge for using the overdraft.  They also charge annual fees for having credit and debit cards.  Then there's the charges for being able to take credit cards - charges for the rental of the machine, charges for each transaction, plus of course the cost when the money goes to pay into your account.  If the bank is involved, there's a charge for it and all the time, we're lending money to the bank to make investments.

You've got me started now, where's that other thread!

[boldie]

I do think its funny that banks are labled as greedy, its not as if they are a business and need to make a profit.

For personal accounts they're fine, but for business, they are so expensive for everything and generally, you have no option to use a bank.      They charge to put money in, they charge to take money out, they charge annually to set up overdrafts, they obviously charge for using the overdraft.  They also charge annual fees for having credit and debit cards.  Then there's the charges for being able to take credit cards - charges for the rental of the machine, charges for each transaction, plus of course the cost when the money goes to pay into your account.  If the bank is involved, there's a charge for it and all the time, we're lending money to the bank to make investments.

You've got me started now, where's that other thread!

and they hardly offer value for money..and that's where the problem is.

[thediceman]

There certainly not taking any risks at the moment charging a 1.5%, and sometimes even 2.5%, arrangement fees and thats on LTV's below 85%.

Re: he H*** tip I thought this was code for the Northern Rock. I was somewhat surprised last week when I was offered a mortgage with NR.

[boldie]

There certainly not taking any risks at the moment charging a 1.5%, and sometimes even 2.5%, arrangement fees and thats on LTV's below 85%.

Re: he H*** tip I thought this was code for the Northern Rock. I was somewhat surprised last week when I was offered a mortgage with NR.

This nationalisation was only because Gordon Brown thought it was taking too long to get hold of all your stuff..so now everyone will have to get a mortgage through NR and pay everything straight to the govt.

[mondatoo]

Why is HSBC a swearword on this thread?

Now i know what that H bank is ...  Grier78 innitially mentioned the H word but hadn't wanted to recommend me personally to them.

[deputydawg]

mondatoo - i've sent you a PM

[ifm]

I actually believe that house prices will drop, lending will become tougher as a direct result of media hysteria.
Labour of course have screwed us badly taxwise obviously (cuz it's historically correct), tories will come in and help a bit but they cannot reverse the trend.
I say cut all overseas aid, immigrant benefit and pump the cash back in via tax breaks subsidies before we are all screwed.

Sorry if this is toungue in cheek and I've just been wooshed but are you seriously advocating reallocating resources away from those with a degree of need (LDCs, benefit recipients) to homeowners simply because  equity gains over the past decade may end up being 150% instead of 200%?

House prices will drop, in part because lending is tougher, yes. However lending criteria are entirely unaffected by "media hysteria". The criteria have been too loose because loan originators (Mortgage providers) have had their incentive to check the credit worthiness of loan recipients eroded away by well developed secondary markets for loans-loans could be sold on. However, as loan performances have dropped below historical averages, the demand for repackaged loans has evaporated, financial instiutions are stuck with the loans they've made and are belatedly realising a default by the debtor once again directly hits them in the pocket.

I do agree that taxation, borrowing and above all spending by the government are too high but I think there are better targets than the ones you've suggested.

Very serious, why should our hard earned money be sent overseas as aid?