another .5% rate cut!
Next step, lets start those printing presses!
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05-03-2009, 11:13 AM
#9
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I heard on the news today that they don't actually print more money they just credit the banks with the cash and they are then supposed to distribute it as loans to businesses etc
05-03-2009, 11:14 AM
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Your right Chip, £75bn of money. One good think for Gareth i sure he will have all the overtime he wants 
Good for me as im on interest only mortagage, im paying minimum while renovation goes on, but that should be complete in next month or so. Then once thats sorted i will start banging money of my mortgage
Good for me as im on interest only mortagage, im paying minimum while renovation goes on, but that should be complete in next month or so. Then once thats sorted i will start banging money of my mortgage
05-03-2009, 11:15 AM
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Quantitative easing is the process of increasing the amount of money in circulation in an attempt to revive the economy.
The idea is that if the amount of money in the system is boosted, commercial banks will find it easier to lend.
Quantitative easing is sometimes incorrectly referred to as printing money, but the Bank will not expand the supply of money by making new banknotes.
Instead, it will buy assets - such as government securities (gilts) and corporate bonds. But as it will not borrow to fund the purchases, it is creating new money.
05-03-2009, 11:17 AM
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Yeah heared that what goes on. Though if im tbh i am not that up on the "Quantitative easing" method. I know the risk involved and it is a gamble, lets hope it pays of! Or as Chip said the 1 Zimbabwe Dollar will equal £1
05-03-2009, 11:18 AM
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Not quite
Quantitative easing is the process of increasing the amount of money in circulation in an attempt to revive the economy.
The idea is that if the amount of money in the system is boosted, commercial banks will find it easier to lend.
Quantitative easing is sometimes incorrectly referred to as printing money, but the Bank will not expand the supply of money by making new banknotes.
Instead, it will buy assets - such as government securities (gilts) and corporate bonds. But as it will not borrow to fund the purchases, it is creating new money.
Quantitative easing is the process of increasing the amount of money in circulation in an attempt to revive the economy.
The idea is that if the amount of money in the system is boosted, commercial banks will find it easier to lend.
Quantitative easing is sometimes incorrectly referred to as printing money, but the Bank will not expand the supply of money by making new banknotes.
Instead, it will buy assets - such as government securities (gilts) and corporate bonds. But as it will not borrow to fund the purchases, it is creating new money.
05-03-2009, 11:19 AM
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05-03-2009, 11:19 AM
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05-03-2009, 11:20 AM
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05-03-2009, 11:21 AM
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05-03-2009, 11:22 AM
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05-03-2009, 11:22 AM
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4.0% is still a very good morgage rate, only last year they were 6-7% depending on your circumstances.
There never going to be anywhere near what the base rate is, as it will just mean the bank will lose money hand over first, there not going to bite off their there nose to spite their face.
There never going to be anywhere near what the base rate is, as it will just mean the bank will lose money hand over first, there not going to bite off their there nose to spite their face.
05-03-2009, 11:25 AM
#29
From my point of view, things couldnt be better.
Fuck the rest of you
05-03-2009, 11:28 AM
#31
it doesn't matter what the rate is for those on a fixed rate
and for those who are thinking "lets buy a house" you still need to find around 25% of it as a deposit
as for "quantative easing" isn't that just like adding another few 00's to the end of your bank account and then spending that money?
and for those who are thinking "lets buy a house" you still need to find around 25% of it as a deposit
as for "quantative easing" isn't that just like adding another few 00's to the end of your bank account and then spending that money?
05-03-2009, 11:35 AM
#33
Yo lee
I have had 3 pay cuts from last aug untill 2 weeks ago they wanted to cut my wages again , i told them to fook off and walked of the job ........i said "get some other prick to work for nothing ".....lol..
shite times on the construction sceen i know it's off topic but hay lol
marco
I have had 3 pay cuts from last aug untill 2 weeks ago they wanted to cut my wages again , i told them to fook off and walked of the job ........i said "get some other prick to work for nothing ".....lol..
shite times on the construction sceen i know it's off topic but hay lol
marco
05-03-2009, 11:43 AM
#35
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mine is down from 590 odds to 380 on repayment. Cant wait to get into work an start some big scale overpayments. I also want to move, but the bank have agreed to maintain my current mortgage deal (now 2.94% iirc) happy days 
05-03-2009, 11:51 AM
#36
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Yo lee
I have had 3 pay cuts from last aug untill 2 weeks ago they wanted to cut my wages again , i told them to fook off and walked of the job ........i said "get some other prick to work for nothing ".....lol..
shite times on the construction sceen i know it's off topic but hay lol
marco
I have had 3 pay cuts from last aug untill 2 weeks ago they wanted to cut my wages again , i told them to fook off and walked of the job ........i said "get some other prick to work for nothing ".....lol..
shite times on the construction sceen i know it's off topic but hay lol
marco
05-03-2009, 11:51 AM
#37
For me its not really worth overpaying, not on .99% interest.
You can get over 3% in savings
Nortern rock for example:
http://www.northernrock.co.uk/saving...utm_source=007
You can get over 3% in savings
Nortern rock for example:
http://www.northernrock.co.uk/saving...utm_source=007
05-03-2009, 12:00 PM
#38
Too many posts.. I need a life!!
Not sure what banks you've been to see then because I'm going in to finalise the details on a FR re-mortgage at 3.5%.
I'm only 9mths into my current mortgage but the early settlement fee will be covered off in my first 8 months of payments on the new rate.
It's going to save me appro £350-400 a month so I can't complain.
