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[Kevin Wood]

I bet they'd love me to vote with my feet. Got a base rate + 0.8 lifetime tracker back when the base rate was nice and high.

Needless to say I'm in no hurry to pay it off.

[Varche]

Surely the answer is simple..

They're a business. They're in it to make money. As much money as possible, just like every other business. That's how Cem's beloved hated capitalism works, no?

Vote with your feet; if you're on a SVR, find a fixed rate mortgage?

Banks practice a strange type of capitalism. When things are going well they stick up two fingers and shout "f*ck you loser" before jumping into their Bentley/ Aston / Porsche...etc ...etc....

However, When business go tits up, they go running like a six year old with a grazed knee to "Nanny Taxpayer". Just what sort of capitalism is that?.....

We are just envious as they have the perfect business model.

[Field Marshal Dr. Opti]

Surely the answer is simple..

They're a business. They're in it to make money. As much money as possible, just like every other business. That's how Cem's beloved hated capitalism works, no?

Vote with your feet; if you're on a SVR, find a fixed rate mortgage?

Banks practice a strange type of capitalism. When things are going well they stick up two fingers and shout "f*ck you loser" before jumping into their Bentley/ Aston / Porsche...etc ...etc....

However, When business go tits up, they go running like a six year old with a grazed knee to "Nanny Taxpayer". Just what sort of capitalism is that?.....

We are just envious as they have the perfect business model.

Yeah. Huge rewards with zero risks.

[feeutfo]

Surely the answer is simple..

They're a business. They're in it to make money. As much money as possible, just like every other business. That's how Cem's beloved hated capitalism works, no?

Vote with your feet; if you're on a SVR, find a fixed rate mortgage?

Banks practice a strange type of capitalism. When things are going well they stick up two fingers and shout "f*ck you loser" before jumping into their Bentley/ Aston / Porsche...etc ...etc....

However, When business go tits up, they go running like a six year old with a grazed knee to "Nanny Taxpayer". Just what sort of capitalism is that?.....

We are just envious as they have the perfect business model.

Yeah. Huge rewards with zero risks.

The perfect business plan

[aaronjb]

Clearly the answer is .. we all get together and start the "Bank of OOF"

Now, who's going to provide us with the start up capital?

[albitz]

They didnt go to the taxpayer and ask for money.Governments around the world decided very early in the crisis to begin the process of propping them up.Was it the right thing to do ? Jury is still out imo. There is a school of thought which says if some had been allowed to collapse early in the crisis (Northern Crock for example) the others would have been able to survive on their own.
History  writers with the benifit of hindsight may be able to put it all into its proper perspective in years to come.

[Varche]

They didnt go to the taxpayer and ask for money.Governments around the world decided very early in the crisis to begin the process of propping them up.Was it the right thing to do ? Jury is still out imo. There is a school of thought which says if some had been allowed to collapse early in the crisis (Northern Crock for example) the others would have been able to survive on their own.
History  writers with the benifit of hindsight may be able to put it all into its proper perspective in years to come.

Bedfellows. Nice try. Don't forget that governments of all persuasions are there only for their self interests. It was in their interests NOT to let the banks fail. Us mere mortals have no comprehension of the power of lobbyists. None whatsoever as we drone around our busy daily schedule. Do not kid yourself that there was any regard for the ordinary man in the street, there was not.

[albitz]

Im not that naive Varche.The financial system had to be kept going though,for absolutely everyone.The debate is did they go the right way about it. Time will tell,maybe.

[TheBoy]

I note the T&Cs of my mortgage changed a couple of years back, instead of tracking BoE, its now tracking Barclays own SVP, which they claim will normally track BoE, giving them scope for screwing me.

Currently paying 0.95% above base rate, no lower collar

[aaronjb]

I'm fixed at 6.19% for another three years .. I'm wondering if the base rate will still be below that when it ends; I have a feeling it's going to be well above it.

I better start saving. Or pimping my body out. One or the other..

[Field Marshal Dr. Opti]

Because your mortgage rate is variable, not fixed, and bank profits are partly decided on their additional percentage on top of the boe base rate. All banks charge more than the boe base rate, or they wouldn't make any money on the loan.
 It's also agreed that interest rates must rise from thier current rate, at some point, as they are as low as possible currently to support the economy. Savers need more return on thier savings.
 So, fix your mortgage rate now if possible, it will only get worse from here on in.

Keep an ear out on the news first Thursday of the month for the monetary commission meeting decision on boe base rate. If that goes up, do will savings intetrest rates, and mortgage rates.

The mark up to the banks will soon be about 4%.... . Traditionally it has been 0.5% -0.75%. I remember when the base rate was 5.5% and my mortgage 6%.

There is little point having a base rate of 0.5% to help the economy start to grow, if the banks use it as an excuse for blatant profiteering.   

[Field Marshal Dr. Opti]

I'm fixed at 6.19% for another three years .. I'm wondering if the base rate will still be below that when it ends; I have a feeling it's going to be well above it.

I better start saving. Or pimping my body out. One or the other..

The base rate may well be, Aaron. But it seems that lenders are dismissive of the base rate and the government these days. They will charge whatever they want....

Thin on the ground now, first time buyers will become almost extinct.

[feeutfo]

I'm fixed at 6.19% for another three years .. I'm wondering if the base rate will still be below that when it ends; I have a feeling it's going to be well above it.

I better start saving. Or pimping my body out. One or the other..

The base rate may well be, Aaron. But it seems that lenders are dismissive of the base rate and the government these days. They will charge whatever they want....

Thin on the ground now, first time buyers will become almost extinct.

they are not obliged to pass on every % variation.

Are you tied in to your mortgage? Re mortgage at a cheaper rate if not.

[tunnie]

I'm on a fixed 6% rate too, until next year. Best I could do in 2010 with just a 10% deposit.

I'm due to drop to their variable rate (Halifax) but its due to go up May 1 2012, but even so, I'll still make a saving of at least £200/m

If many more rises crop up, I'll go fixed rate again 

[feeutfo]

Fixed at 2.89% here.