It's Czech Mate

The decision to cut base rates by a further 0.5% will improve activity in the long-term, but, like other recent cuts, will have little immediate effect in itself. Indeed, the government's recent decision to force the nationalised banks to lend will probably do more to revive lending than any change in interest rates.

With Northern Rock now committed to lending £14bn, and the Royal Bank of Scotland committed to a further £9bn, it is likely that mortgage volumes will begin to increase and loans will become available on less onerous terms. As the Government will also insist that finance is available for higher loan-to-value ratios, it will also provide help to first-time buyers. It is worth pointing out, however, that these amounts, while significant by recent standards of lending, are not enough to bring the market back to more normal levels of activity.

There are also signs that conditions in the wider market are beginning to improve, although the private banks are becoming far more selective in the customers they offer mortgage finance to. Elsewhere, there are now fixed rate deals available at sub 4% There is an increasing belief that inflation may become more of a factor in the medium term, particularly with the Bank of England now committed to quantative easing, and rates may actually increase towards the end of the year.

dvid

My mortgage is due for renewal at end of april, but need loads of equity to get a good rate (about 40% equity needed but I only have 15%) so will be dropping on to the standard variable rate which is 0.5% lower already!

marco polo

iTrader: (1)

hi chip/gareth

to be honest in the construction being laid off or jacking your job is the normal , some people will put up with shite some people wont

ill put up with it for a while and when they take the piss i just jack my job

and tell them to fook off



i have had more jobs in contruction if i get laid off or jack up i take it with a pinch of salt

i cant stand job's worths lick arse wankers do my head in

marco

Moonstone Steve.

iTrader: (2)

On a Tracker here so good news for me, im going on seven day week as from this week just cant keep up with it.

Steve

RANJ

mortgage free here, lucky man

Stu @ Claims Care Centre

iTrader: (1)

im worse off i have a lot of saving so wont get much interested now really!!

cossie4i+

iTrader: (15)

Im on a fixed rate until July

Looking forward to having a few more £s in my pocket soon

Steve

Ryan

forgot to say i calucalted my BTL morgage wrong.

we are now paying nothing

as our BTL morgage is 0.5% below BOE, so now 0%

ironically because of it we've bought a puppy and called it BOE, as thats who paid for it.

nigel b

bad news again for savers
at least when i buy another place ill put a decent deposit down

Lee Reynolds

fixed bastard mortgage

mechanic28

iTrader: (5)

they got in this mess by people borrowing and going above there means(with the banks/government allowing them)so what they do!!Exactly the same lend the banks billions to make there life easy so they can start lending to who they want!full circle comes to mind!There has surely got to be the same amount of money in the economy as before this mess!?So surely the government would be better of forcing the banks to lend the current funds available more wisely,rather then giving them lots of cash again so they all relax again?

Graham S1

If they'd have given it to the public instead, the whole of Britian could have wiped out they're credit card debt.

iansoutham

Or doubled it if everyones wives had been let near it instead of paying it off

JamieMS

I'm jumping out of our 2 year FR signed oct last year paying the redemption and signing up to a 5 year deal at 4.29% and will still be saving loads!!