Not knowing a great deal about economics and all this, what does this mean for little old me, who's currently 14 months into my 2 year fixed rate mortgage deal. As i'm an existing mortgage holder will i be ok when it's time to renew, or will i be in the same boat as a first time buyer as won't i effectively be looking for a new mortgage?
[cite]Posted By: PeanutsMolloy[/cite]Thatcher had nothing to do with building societies demutualising. In every case it was down to the customers voting for demutualisation. In fact, Bradford & Bingley did not want to demutualise but was forced to because its members (customers) wanted to cop a windfall.
Absolute, sheer, utter bollocks.
Without Thatcher's mob paving the way for demutualisation it could never have existed. Jesus wept - have you never heard of the 1986 Building Societies Act? Were you not aware that, until this act, banks and building societies were completely different? Banks answered to shareholders, Building Societies to members?
Blaming carpetbaggers for making money out of the ridiculous situation that demutualisation created is like blaming 5 year old kids for eating too much chocolate when the parents have left it lying around on the table.
CfS: you'll be able to stay with your existing provider on their standard variable rate, so you'll still have a mortgage, but much nearer the time you should look around for another good deal eg. look at moneysupermarket.com/mortgages. No point looking yet.
[cite]Posted By: Leroy Ambrose[/cite]Blaming carpetbaggers for making money out of the ridiculous situation that demutualisation created is like blaming 5 year old kids for eating too much chocolate when the parents have left it lying around on the table.
[cite]Posted By: Salad[/cite]CfS: you'll be able to stay with your existing provider on their standard variable rate, so you'll still have a mortgage, but much nearer the time you should look around for another good deal eg. look at moneysupermarket.com/mortgages. No point looking yet.
The problem that the Banks have is that if they withhold mortgages everyone boohoos that poor people can't get themselves on the property ladder. There's too many people who blame everyone but themselves. You can point the finger at the banks for being greedy and loaning money to people who can't afford to pay it back, but there's a big slice of blame that should be apportioned to the individuals who borrowed the money - in many cases in order to make money out of buy-to-lets. If you borrow something that you can't pay back don't cry that someone should have stopped you doing it. We're all big boys and girls so take a bit of responsibility for yourself.
[quote][cite]Posted By: Mortimerician[/cite]The problem that the Banks have is that if they withhold mortgages everyone boohoos that poor people can't get themselves on the property ladder. There's too many people who blame everyone but themselves. You can point the finger at the banks for being greedy and loaning money to people who can't afford to pay it back, but there's a big slice of blame that should be apportioned to the individuals who borrowed the money - in many cases in order to make money out of buy-to-lets. If you borrow something that you can't pay back don't cry that someone should have stopped you doing it. We're all big boys and girls so take a bit of responsibility for yourself.[/quote]
No, no, we're all 5 year-olds stuffing our faces with chocolate.
My fixed rate ran out in April and remortgaging was nightmare then so we didn't do it. Since then I split with the Mrs so stuck on a variable on my own now...Struggling!
[cite]Posted By: Mortimerician[/cite]The problem that the Banks have is that if they withhold mortgages everyone boohoos that poor people can't get themselves on the property ladder. There's too many people who blame everyone but themselves. You can point the finger at the banks for being greedy and loaning money to people who can't afford to pay it back, but there's a big slice of blame that should be apportioned to the individuals who borrowed the money - in many cases in order to make money out of buy-to-lets. If you borrow something that you can't pay back don't cry that someone should have stopped you doing it. We're all big boys and girls so take a bit of responsibility for yourself.
Thats all very well if we are allowed to take reponsibility for all aspects in our life, like where we can light up a fag, or whether we want to wear a crash helmet, but we are mollycoddled and manipulated by governments all the time for their own ends. That said, broadly speaking I agree with you Morts.
sorry but I have to disagree, I am glad we have laws to enforce us wearing seat-belts in cars, helmets on motorbikes and building sites etc. - most of us underestimate the risks on roads etc. and these safety measures save the lives of hundreds of parents a year
If you had purchased £1000 of Northern Rock shares one year ago it would now be worth £4.95
With HBOS, earlier this week your £1000 would have been worth £16.50
£1000 invested in XL Leisure would now be worth less than £5
But if you bought £1000 worth of Special Brew one year ago, drank it all, then took the empty cans to an aluminium re-cycling plant, you would get £214.
Those tory bastards who sold OUR national assets to their already rich city mates for a knockdown price want putting up against the wall. Those companies now charge us what they like after a frenzy of take overs made a mockery of competition and do with the same incompetence (call centres - cheaper than proper customer service, no doubt) that led to their privatisation in the first place.
And what makes it worse is that we're going to get another bunch of the scumbags running the country within 2 years.
Happy day. Privatise the profits - nationalise the losses. C*nts.
Personally, I blame Sarah Beeney and that Phil and the posh bit. If they didn't make everyone feel inadequate because you only had the one house that you could comfortably afford a reasonable mortage on we'd be alright now and laughing at the mess America's in.
Comments
Without Thatcher's mob paving the way for demutualisation it could never have existed. Jesus wept - have you never heard of the 1986 Building Societies Act? Were you not aware that, until this act, banks and building societies were completely different? Banks answered to shareholders, Building Societies to members?
Blaming carpetbaggers for making money out of the ridiculous situation that demutualisation created is like blaming 5 year old kids for eating too much chocolate when the parents have left it lying around on the table.
Thanks mate
Good job my social life is dwindling, because i'm not going to have one for the next couple of years.......:-(
Your social life we be Charlton Life. That's it.
;o)
No, no, we're all 5 year-olds stuffing our faces with chocolate.
Thats all very well if we are allowed to take reponsibility for all aspects in our life, like where we can light up a fag, or whether we want to wear a crash helmet, but we are mollycoddled and manipulated by governments all the time for their own ends. That said, broadly speaking I agree with you Morts.
Smoking debate has been done to death and the ban has contriubuted to six pubs a day closing in Britain.
If you had purchased £1000 of Northern Rock shares one year ago it would now be worth £4.95
With HBOS, earlier this week your £1000 would have been worth £16.50
£1000 invested in XL Leisure would now be worth less than £5
But if you bought £1000 worth of Special Brew one year ago, drank it all, then took the empty cans to an aluminium re-cycling plant, you would get £214.
So drink heavily and recycle.
http://www.thedailymash.co.uk/news/weekending/weekending%3a-market-turmoil-20070818354/
Those tory bastards who sold OUR national assets to their already rich city mates for a knockdown price want putting up against the wall. Those companies now charge us what they like after a frenzy of take overs made a mockery of competition and do with the same incompetence (call centres - cheaper than proper customer service, no doubt) that led to their privatisation in the first place.
And what makes it worse is that we're going to get another bunch of the scumbags running the country within 2 years.
Happy day. Privatise the profits - nationalise the losses. C*nts.