I genuinely have no idea what josh8267 is talking about. It sounds a bit like those people who go on about the illuminati or the lizard people or the international jewish conspiracy. Too much time watching nutters on YouTube.I am completely lost here...….
How are the banks robbing people?
Just to get back To the Subject of your first post,Of course you are.
Was that back in the 80's when inflation was running at over 20% and the real cost of your mortgage was going down at historic rates?1. During my mortgage period (20 years) with AIB Home Loans the mortgage rate rose to 19.75%, I kid you not. I remember when the rate was reduced to 15% I felt quite relieved. If the mortgage rate was at even 15% today there'd be a revolution probably led by many on this forum.
I haven't read that thread but I'm sure you are aware that the fact that it is virtually impossible to repossess a house is a large part of the reason interest rates are higher than the EU average. Are you advocating a higher rate of repossessions in order to reduce interest rates? If so I agree.2. On another thread currently alive on this forum, the founder (yep Mr Burgess himself) is asking for the interest rate of mortgages to be made an election issue. The interest rate is a lot lower now than it ever was during my 20 year stint with AIB Home Loans.
No they haven't. That's just hyperbole.3. Some illegal moneylenders don't charge as much as 19.75%; I know many charge more. In my book there ain't too much difference between the banks and illegal moneylenders. When the banks get robbed, do you think I care a whit? They've been robbing me for years.
Was that back in the 80's when inflation was running at over 20% and the real cost of your mortgage was going down at historic rates?
Inflation | Average Mortgage Interest Rates | ||
---|---|---|---|
1980 | 18.13% | 14.15% | |
1981 | 20.34% | 16.25% | |
1982 | 17.30% | 16.25% | |
1983 | 10.48% | 13.00% | |
1984 | 08.69% | 11.75% | |
1985 | 05.40% | 13.00% | |
1986 | 03.84% | 12.50% | |
1987 | 03.16% | 12.50% | |
1988 | 02.13% | 09.25% | |
1989 | 04.09% | 11.40% |
I am not going to even open the your link, ,I worked in costings before I retired , I suspect there is big cost saving to be had by restricting access to the nutters watchers on YouTube in a lot of places,I genuinely have no idea what josh8267 is talking about. It sounds a bit like those people who go on about the illuminati or the lizard people or the international jewish conspiracy. Too much time watching nutters on YouTube.
very goodSeriously, I cant read your posts. Can you just take a breath and post coherent sentences. Like what the hell is the dairy master and why have they blocked it? I feel like this is all one big P$%% take...
Was that back in the 80's when inflation was running at over 20% and the real cost of your mortgage was going down at historic rates?
(a) The mortgage was taken out in 1980 for 20 years. The interest rates charged mainly by the banks and building societies were crippling. You could plan nothing fearing at any time the interest rate could increase several times even in a short period. In work you got your yearly increment which was eaten up easily by the financial institutions on their solo runs just increasing rates. Nobody could say boo.
(b) Even before the mortgage was "made available" to you, you paid up to one year's interest on a bridging loan. The reality of this is that effectively your mortgage was extended by up to one year while the bank dilly dallied with the delay in providing the mortgage. On the bridging loan you paid zero off the mortgage.
If these were not ploys to rob the mortgagee, I don't know what is. Incidentally, the last recession was a doddle to the like of me. And whatever way you look at it, the banks took the best years of my life while we paid that mortgage. For that I will never forgive them.
I haven't read that thread but I'm sure you are aware that the fact that it is virtually impossible to repossess a house is a large part of the reason interest rates are higher than the EU average. Are you advocating a higher rate of repossessions in order to reduce interest rates? If so I agree
Newsflash Purple, Tell that to people who had their mortgages sold to Vulture Funds.
No they haven't. That's just hyperbole.
Again, try and convince the lucky ones (i.e. those who came out the right end of the mortgages robbery in their full health).
very good
There is a message there, All those positive words they speak to supporters are only truthful when there actions in the past back them up
Trust me the are like the man milking the bull they are only taking the PI$$,
I was in the same boat as you, I suspect others will need that expression explained to them also,Hi Purple and anybody else looking in
(a) The mortgage was taken out in 1980 for 20 years. The interest rates charged mainly by the banks and building societies were crippling. You could plan nothing fearing at any time the interest rate could increase several times even in a short period. In work you got your yearly increment which was eaten up easily by the financial institutions on their solo runs just increasing rates. Nobody could say boo to the banks. They had carte blanche to do whatever they wished.
(b) Even before the mortgage was "made available" to you, you paid up to one year's interest on a bridging loan. The reality of this is that effectively your mortgage was extended by up to one year while the bank dilly dallied with the delay in providing the mortgage. It was in their own interest to delay your start to paying the mortgage. On the bridging loan you paid zero off the mortgage during that year.
(d) If these were not ploys to rob the mortgagee, I don't know what is. Incidentally, the last recession was a doddle to the like of me because of the way the banks behaved. And whatever way you look at it, the banks took the best years of my life while we paid that mortgage. For that I will never forgive them.
(e) Virtually Impossible to Repossess a House:- Newsflash Purple, Tell that to people who had their mortgages sold to Vulture Funds.
(f) "That's just Hyperbole":- Try and convince the lucky ones (i.e. those who came out the right end of the mortgages robbery with their full health).
(g) I still have correspondence with the bank over my situation. Their replies to the questions I raised and even my begging for an extension to the repayment period were nothing short of unchristian. I could say more, but before my emotions take off, I'll try to remain calm.
. . . . and if a bank gets robbed, I'm supposed to feel sorry for them. Pass the bucket, please.
No, it's not just you. You must be as stupid as me...Sorry I still have no idea what you are talking about. Maybe just me so will leave to others....
FF are reckless
FG are reckless
Lab are reckless
SF are reckless
Greens I got the feeling I could trust them even though there is lots I don't agree with them on,
PBP or whatever they were called now extreme policies no vote from me only reason the exist is because FF/FG/LAB and FG in Government no change
Social Democrats suspect they are not reckless I would trust them as the official left opposition party ,
Paying your pension and the pension of other retirees is the biggest problem the State faces in the future.I suspect you know I am retired , life is good cremeegg seen purple posting resented his own mother driving his father in to have coffee in town and worried about extreme Politics ,
My generation seen what FF/FG/LAB got up to when there was no other choice ,
There spots haven't changed you know just look at the way purple Generaton are Brainwashed into working until 68,
Our Generation are made out of better stuff no soft belly hear, We have them on the run the Gray vote have copped on to FF/FG/LAB know it,
Life is good We are having a purple patch loving it,
WE will put them in provided they look after the people they PI$$eD on in the past if not out they go on there head,
the secret is to keep them all weak and have a young pup ready to take over if the do not behave ,
Just a little up date 23 .34 FF/FG are getting some hammering on the tonight program FF offering more to everyone and anyone that puts them under pressure, Extreme politics by FF tonight,
Maybe he could just start the Irish branch of this one.Sounds like you need to start your own party fella.
Now the greedy selfish generation who caused the last recession won't even work for an extra year!
That's a fascinating table. To complete the picture we would need deposit rates and the official bank rate. And I think there was mortgage interest tax relief.That's an exaggeration.
The only year that inflation exceeded 20% was 1981, when it was 20.34%.
Inflation Average Mortgage Interest Rates 1980 18.13% 14.15% 1981 20.34% 16.25% 1982 17.30% 16.25% 1983 10.48% 13.00% 1984 08.69% 11.75% 1985 05.40% 13.00% 1986 03.84% 12.50% 1987 03.16% 12.50% 1988 02.13% 09.25% 1989 04.09% 11.40%
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