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ForssAwakens

ForssAwakens

Well-known member
Question time related, is it plausible that someone who was offered 4.5% Friday would now only be 10.4% today?
 
GazC_MFC said:
Question time related, is it plausible that someone who was offered 4.5% Friday would now only be 10.4% today?
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I've not started watching QT yet and have it on record for tomorrow but I find that very doubtful. A jump to those rates would likely mean heavy adverse wtg a specialist lender, but those deals would never have been 4.5% on Friday.

Only plausible explanation I can think of is that a 4.5% mortgage offer with a specialist lender was obtained 6 months ago, which could have been possible then, but it's expired and the rates for a similar product now are much higher. Still sceptical of 10.5% though, will check my sourcing system in the morning.
 
WeeGord said:
I've not started watching QT yet and have it on record for tomorrow but I find that very doubtful. A jump to those rates would likely mean heavy adverse wtg a specialist lender, but those deals would never have been 4.5% on Friday.

Only plausible explanation I can think of is that a 4.5% mortgage offer with a specialist lender was obtained 6 months ago, which could have been possible then, but it's expired and the rates for a similar product now are much higher. Still sceptical of 10.5% though, will check my sourcing system in the morning.
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Think both sides have plants on these shows haha
 
GazC_MFC said:
Think both sides have plants on these shows haha
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Could well be, will be interesting to watch tomorrow. For what it's worth, while mortgage availability has dropped dramatically there are a number of lenders launching new products tomorrow and Monday. It's likely these will be around the 5% to 6% range for prime lending with a decent deposit so the rates are effectively around 4 times higher than they were at the turn of the year.
 
WeeGord said:
Could well be, will be interesting to watch tomorrow. For what it's worth, while mortgage availability has dropped dramatically there are a number of lenders launching new products tomorrow and Monday. It's likely these will be around the 5% to 6% range for prime lending with a decent deposit so the rates are effectively around 4 times higher than they were at the turn of the year.
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Ha yes, I was securing someone 0.99 in October last year on there rate switch. Tomorrow it will be around 5.5%

Bonkers
 
GazC_MFC said:
Ha yes, I was securing someone 0.99 in October last year on there rate switch. Tomorrow it will be around 5.5%

Bonkers
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I managed to get a client a product switch with Barclays yesterday at 3.62% which was streets ahead of anything with other lenders.

What I've noticed is that the majority of lenders are offering decent retention rates to keep the business in house rather than risk them heading elsewhere. While not unusual, the differential between the retention rates and deals available to new borrowers is crazy.

I was around during the financial crisis in 2008 and that was mental; yet this bizarrely seems even worse.
 
Cardiffdaffs said:
That’s 100%. The audience finder for QT is an ex UKIP member and somehow always seems to find a bus load of Daily Express readers to fill the seats. The audience never reflects the consensus. It’s why I no longer watch the charade especially now Fiona Bruce is conducting affairs.
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I think QT has gone down the same route as much of our politics now, whereby entertainment and personality is deemed more important than factual content and intelligent debate.
 
Pak_Doo_Ik said:
I think QT has gone down the same route as much of our politics now, whereby entertainment and personality is deemed more important than factual content and intelligent debate.
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Not even sure its that Pak. Because the BBC have to be impartial and give equal airtime to both sides of the political spectrum on every issue when you get such a deeply unpopular position like we have now it feels particularly frustrating to witness so many back the tax cuts in Manchester. We know they have been bussed in from outside the area to participate. There are few personalities anymore. Lots of chinless wonders.
 
Cardiffdaffs said:
That’s 100%. The audience finder for QT is an ex UKIP member and somehow always seems to find a bus load of Daily Express readers to fill the seats. The audience never reflects the consensus. It’s why I no longer watch the charade especially now Fiona Bruce is conducting affairs.
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The economist editor said the Labour love in needed to calm down and Fiona Bruce was chuckling away to herself so can understand. First one I’ve watched for a while to be honest
 
With a quick search on the sourcing with a few paramaters set, the most expensive deal I can find is 10.34% with a 'normal' lender which would only be applicable to clients with very recent bankruptcy. Whilst this rate is high, there is no chance at all it was around 4.5% a couple of weeks ago.

The only scenario I could imagine this happening is a client presenting themselves as having a clean credit history during the initial fact find and the adviser suggesting potential deals on that basis, hence the 4.50%. On further checks and with severe, undisclosed credit history the adviser has subsequently said that the only deal available is at 10.34%.
 
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