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Royal Bank of Scotland Share Chat (RBS)



Share Price: 360.00Bid: 360.30Ask: 360.60Change: 0.00 (0.00%)No Movement on Royal Bank Scot
Spread: 0.30Spread as %: 0.08%Open: 349.80High: 362.00Low: 348.60Yesterday’s Close: 360.00


Share Discussion for Royal Bank Scot (RBS)


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jings100
Posts: 7,589
Off Topic
Opinion:No Opinion
Price:338.60
HALFMIST
7 Jun '14
I'd agree that one size fits all isn't ideal but for the fact that the banks have to tailor these things to suit everybody , given the fragmented nature of the market it must be difficult .The measures taken are to slow the London market , doesn't really apply anywhere else . It's the banks who have imposed this ,and not all banks , not the government . Politicians " interfere " in all aspects of life that is why we elect them , that's why wee boys are no longer stuffed up chimneys and workaholics like yourself can now browse the supermarket shelves on a Sunday for a bottle of vino callapso to take the edge off a hard week explaining to the less financially educated why they're about to lose they're house because they believed what some money grabbing financial advisor told them .....uCan appreciate where your coming from ,in a similar situation myself at the moment with lenders . Assets more than exceed what we're asking for but being retired , income wise , we don't fit the criteria .
 
HALFMIST
Posts: 162
Answer
Opinion:No Opinion
Price:338.60
Mailman/All
7 Jun '14
I don't think any one is asking for a free for all or a minimum mortgage requirement should be in a finance related degree subject. Of course some will need more help than others that is life. I think what Neephead and I are saying is there is a point when one has to take responsibility for ones own actions. Yes explain the pitfalls which the mortgage companies do in any case. it is not in their interests to be left with a bad debt. after that the INDIVIDUAL must at some stage decide if it is for them or not. We all make decisions many times a day some will be right others wrong. it is when the State interferes with freedom of choice by implementing a one size fits all policy and we are all stuck with it that I have a problem with. As we have all found when the State ie politicians interfere with anything it usually makes matters worse. If easy mortgages are blamed for house price rises , a) it is more a regional supply shortage that is the cause of rising prices and b) what is the problem with rising prices ? It boosts the economy, and makes people work harder and encourages ambition. What else is left for savers to provide for the future ,rubbish interest rates , pensions are crap and the stock market is far too risky to gamble on when approaching retirement
mailman
Posts: 1,736
Off Topic
Opinion:No Opinion
Price:338.60
Neephead ..All
7 Jun '14
As stated many times regulation as per the 1970s of 3 X earnings created so form of stability and was a system that stopped lenders encouraging people to stretch their limit to gain bigger mortgage sale benefits ...

Also stopped house price rises to some degree rising to high to fast..

No regulation then you have greed and chaos.. And a free for all... As like now...

I know people must be their own financial wizard but many are not we cannot all be perfect.. And a system must protect those that are not. .. But in life that is not always possible to many and many crocks as we known encourage many to get into debt and do not explain the risks and what seems ok when the loan on taken out .. Changes then create hardship when interest rates rise or whatever.. 25 fixed rate solves many payment stability issues and worries and reduced stress..

No regulation means just that .. No regulation.. And that can create anything to anyone..good or bad.being the result. IMO..
NeepHead
Posts: 1,389
Off Topic
Opinion:No Opinion
Price:338.60
mailman
6 Jun '14
I am not sure that I agree with regulation of mortgages, or indeed any other borrowing, it must surely be up to the individuals and lenders to agree what they will borrow and lend? Perhaps the regulation could be a warning statement advising the risks and consequences of borrowing, expecially when close to maximums? Then, in the event of a failure to keep up with payments, there could be a requirement that the lender revisits the deal and ensures a long term repayment plan that the borrower can meet.
mailman
Posts: 1,736
Off Topic
Opinion:No Opinion
Price:339.10
Neephead.... All
6 Jun '14
You are right ... Easier mortgages.. .. That is obvious

Because of the allowed greed of lenders... And as we know now .. Little regulation of the amount of mortgages given...

Back to those at the at the top that are running the country for their self interest... The sheer amount of unkown corruption .... And allowed tax avoidance and MP manipulated allowances and euro MP allowances is alarming to state the obvious.. The sheer amount of money wasted is crackers as we have been told on many tv programmes and news reports the past 10 years..

Keep saying things are getting better long enough and some actually start believing it...

When a major concern like Tesco announce their worst trading profit for 20 years... The tide is probably turning .. ?

Jinks... Yee ha .. Good rodeo show... 3 year olds riding a sheep... never seen that before.... Never happen in the UK, being a health and safety issue... A uk problem that stops many uk functions .

A USA chap said to me last night... The UK a great country to visit ... But as a nation can be too soft for our own good...and expensive... The price of your petrol is crazy, over twice as much.. . But excepted.. And many small laws like speeding are not enforced hard enough to create a culture change of more respected slower driving. .. And the police are less fearful by the uk public.... he could well be right.... They say others or outsiders see others faults... USA has theirs to me as well .. Mainly GUN culture, but that's another issue..

GLA ... Still waiting for the next big drop ...
NeepHead
Posts: 1,389
Off Topic
Opinion:No Opinion
Price:340.20
House prices
6 Jun '14
I still think prices rose because of easier mortgages.
jings100
Posts: 7,589
Off Topic
Opinion:No Opinion
Price:338.60
Mailman
6 Jun '14
Ride ,' em ...Cowboy !
jings100
Posts: 7,589
Off Topic
Opinion:No Opinion
Price:338.70
NeepHead
6 Jun '14
The banks have introduced this measure , all the government or more accurately the B of E , has done in this instance has warned of a potential problem which could prove detrimental to the economy . Carney's remit methinks . Lenders change their criteria all the time as economic circumstances change , nothing unusual about this IMHO .
lego
Posts: 10,527
Off Topic
Opinion:No Opinion
Price:337.20
No one
6 Jun '14
How can we compete with China or India if we have to earn big bucks to buy our houses.

House prices have ruined this country.
mailman
Posts: 1,736
Off Topic
Opinion:No Opinion
Price:337.20
All
6 Jun '14
We all know as fact in 1970 3 X average earnings could buy an average house... Today it takes 2 or 3 people to buy the average house on 3 X average earnings...

1970 average house prices were 3 times average earnings .. Now 6 to 8 times average earnings..

Why has this happened... Because of lack of sensible regulation of the amount of mortgage loan.. And not staying at 3 times earnings...... Prices would never have got to the highs they have if 4 to 8 times incomes wre allowed...

The fact that they were allowed has created many rich and many never able to buy the average house as per years ago.

Who you wish to blame is another matter ... We all know it to be greed .. The damage has been done and cannot be reversed.... Any massive crash in house prices now would damage the economy....

The next issue to come next is the rise in interest rates..when it comes... Taking more out of the housing market and a challenge to some recent buyers to maintain their payments which will increase when their next renewal of their current fixed rate expires.

Then there will be even more excuses still not to regulated mortgage loans or have a 3 or 4 X earnings limit... With no regulation as per many things many have to suffer at the expense of the few..... With the average house prices allowed to go unchecked from 3 times earnings to 6 to 8 times earnings ... It has created many of the the situations we have now...

I blame past governments as they were elected to run the country for the benefit of the majority... Obviously they have done a poor job regarding house price affordability and house building availablity. or we would not be talking about it as many do now....

Some say house building is manipulated to keep prices high .. They may well be right ...

In Colorado now .. Weather 90F...blue skies... Off to a local rodeo tonight ... yee ha..

Keep smiling all....



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