Selkirk Posted September 13, 2007 Report Share Posted September 13, 2007 Any views on the credit crunch? Some of the high street lenders have increased their rates blaming this, the adverse lenders are revising their rates all the time it seems. Personally, I think UK lenders have had a more prudent lending policy but I don't know what risk they have bought in, they're probably don't even know for sure themselves causing this problem. Surely in the UK it's supply and demand, I've never heard of anyone selling up to go rent, I mean the brits, in the last 50 years, have always wanted to own their homes. If property prices fall then I can see both first time buyers and buy-to-let investors snapping these up underpinning the market again. I for one won't be selling out, hope I'm right... Link to comment Share on other sites More sharing options...
pugsy Posted September 13, 2007 Report Share Posted September 13, 2007 Just a comment, purely on a basic level as I can't get into the rocket science of the market and money lending, but medium to long term, i'm hanging in there. I'm not offloading anything, in fact I just made a prudent purchase recently. SP has great long intense threads about market discussion which are very interesting if you're in the mood, look out for edm and drbubb, they're alot of fun. Link to comment Share on other sites More sharing options...
Melboy Posted September 14, 2007 Report Share Posted September 14, 2007 Well, I have had an eventful day with Northern Rock!!!!!!! Managed to get my wordly possessions out of there in time I reckon. I have had my suspicions for the last 3 weeks that all was not well so I have been depleting the account with steady transfers. Managed to get online at 6.10am (just as Simon was going to bed!) and CHAPS transfer the remaining Dosh into my bank account by 1pm. I don't give a monkeys about all the soothing words about 'your money is safe with NR and not to worry' the hell it is and from experience I know it won't be the Directors out of pocket but the Punters with savings. Thank God I never had any shares in NR I'd be bankrupt by now and worse still, I might have had to get a job!! Link to comment Share on other sites More sharing options...
GPEL Posted September 14, 2007 Report Share Posted September 14, 2007 I think that now's the time to buy NR shares. Link to comment Share on other sites More sharing options...
Selkirk Posted September 14, 2007 Author Report Share Posted September 14, 2007 I think that now's the time to buy NR shares. I agree but I'll wait until they're about 401, weird sight all those punters queuing up outside the NR branches, don't panic Mr Mannering... Link to comment Share on other sites More sharing options...
Selkirk Posted September 14, 2007 Author Report Share Posted September 14, 2007 Come to think of it I might get a loan out, I hear Northern Rock have some good deals at the moment. Link to comment Share on other sites More sharing options...
Melboy Posted September 15, 2007 Report Share Posted September 15, 2007 I predict that NR will not survive and it will be taken over by another Bank in time. They have lost the confidence of investors and the money market. Absolutely unprecendented what has happened to NR and they have brought it upon themselves with their creative accounting. A Billion Pounds was withdrawn yesterday from Investor accounts and don't tell me they can absorb that and survive. Bradford and Bingly next........another high risk Bank and if anyone wants to buy shares in BB they can have mine! Mel. Link to comment Share on other sites More sharing options...
russ295 Posted September 15, 2007 Report Share Posted September 15, 2007 i have a 176k mortgage with them, i wonder if i offered them £150k to clear it they might take it, now that there a bit short of money and that? russ Link to comment Share on other sites More sharing options...
Simon Dewsberry Posted September 16, 2007 Report Share Posted September 16, 2007 Russ exactly what i was thinking !! Dont think buying shares is a good option .......i agree with Mel They have lost the confidence of investors and the money market. and the only way they have foward is to sell up !! But city and banks will wait until they are on their knees b4 takeover comes ..... nasty business which is going to have knock on effects............. which somewhere along the line is sure to affect us lot ............. Simon Link to comment Share on other sites More sharing options...
Selkirk Posted September 17, 2007 Author Report Share Posted September 17, 2007 Wow what a stupid comment I made, share price down to around 310 as I write. Have to agree there's no way back for NR now. As I understand it people with a mortgage are safe, they would just sell the 'mortgage book' on to another intitution. What an eye opener this is all becoming. Link to comment Share on other sites More sharing options...
GPEL Posted September 17, 2007 Report Share Posted September 17, 2007 Buying shares now an even more attractive proposition, they're even talking about it on 5 Live... Link to comment Share on other sites More sharing options...
russ295 Posted September 17, 2007 Report Share Posted September 17, 2007 read somewhere that they may only be worth £1.80 if they are taken over Link to comment Share on other sites More sharing options...
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