ECB cuts rate to 1.25%

Welease · 07-11-2011 10:24PM

bbsrs wrote: »

Oh to be in the position to offer them €140k and tell them the offer remains on the table for 24 hours , they would have to be tempted they might even gobble it up :pac::pac::pac:

Unfortunately it wont be any time soon that I can test that theory

However, I wouldn't be surprised if they declined individual requests afterall one or two trackers gone won't make much of a difference in the context of the amount of trackers out there... and getting the ear of someone who could make such a large decision might be nigh on impossible working through your local branch (although maybe branch managers have the ability to write off debts?)..

It would be interesting to know how many PTSB tracker owners took up the offer though..

It of course should be remembered, that while ECB rates are so low, it probably makes more sense to keep the mortgage and put your 140K into higher interest accounts. May as well screw the b**tards twice

(something I don't actually do.. I personally just prefer to keep payments as high as possible to get rid of debt)

07-11-2011 10:25PM

Head The Wall wrote: »

..........................

So now people that were sensible are gloaters while people with mortgages try and look hard on the net while regretting their decisions to buy bricks and mortar. Yeah right, I wish I was like you guys instead of being mobile and able to do as I please when I please.

You're presuming a lot there Fred, I'm as mobile as you claim to be if not more so. You'll buy when you want to? But only when you're "ready" :cool:

Who's trying to look hard? If you got the impression from any posts here that people were trying to look hard you must be a real shrinking violet.

And it's not sensible folk are gloaters, folk who post in threads about interest rates dropping blabbing on about their six figure savings are gloaters, do you carry on like that in real life? The thread isn't about how much savings you have.

Bruthal · 07-11-2011 10:31PM

RoverJames wrote: »

You're presuming a lot there Fred, I'm as mobile as you claim to be if not more so. You'll buy when you want to? But only when you're "ready" :cool:

Who's trying to look hard? If you got the impression from any posts here that people were trying to look hard you must be a real shrinking violet.

Its handy havin yourself posting in this thread roverjames, saved me typing that:D

Yahew · 07-11-2011 10:37PM

RoverJames wrote: »

Another gloater, and of course you're in the UK despite being able to get a job paying more here? Of course.

If average house prices here go to €60,000 you'll be staying in the UK I'd say.

Lol, I came to the UK during the boom, and I can easily get a job in Ireland. In fact, if stuck, I could commute to London if I wanted. I stay there midweek anyway as it is.

Whats gloating about it. People like you - with the rent is dead money crap - are still going on with your nonsensical rants despite the fact that that kinda moronic rhetoric has seen half the population with not only no savings, but negative equity i.e. poorer than the homeless.

Head The Wall · 07-11-2011 10:41PM

RoverJames wrote: »

You're presuming a lot there Fred, I'm as mobile as you claim to be if not more so. You'll buy when you want to? But only when you're "ready" :cool:

Who's trying to look hard? If you got the impression from any posts here that people were trying to look hard you must be a real shrinking violet.

I haven't made as many crap presumptions as you have in this thread

You were the one questioning was I still living with mammy and Daddy or paying rent, crap job etc.

Simple question do you reckon I have made the right choice or wrong choice. You and the other posters are just trying to pick holes in what I have done which is fair enough but none of ye can prove that I would have been better off buying in the last few years. So in the absence of that ye just look like begrudgers.

At the end of the day I'm happy and that's all that matters to me. I don't feel the need to pick at people to be happy about myself.

bryaner · 07-11-2011 10:42PM

Yahew wrote: »

Lol, I came to the UK during the boom, and I can easily get a job in Ireland. In fact, if stuck, I could commute to London if I wanted. I stay there midweek anyway as it is.

Whats gloating about it. People like you - with the rent is dead money crap - are still going on with your nonsensical rants despite the fact that that kinda moronic rhetoric has seen half the population with not only no savings, but negative equity i.e. poorer than the homeless.

Would you please quote where James said renting is dead money, good lad.

Bruthal · 07-11-2011 10:46PM

Yahew wrote: »

Whats gloating about it. People like you - with the rent is dead money crap - are still going on with your nonsensical rants

Surprisingly enough, for you at least, he didnt say it was dead money, that i can see anyway. Neither did i.

Edit:
Well they can give me stick about being too slow at least:)

bryaner · 07-11-2011 10:48PM

robbie7730 wrote: »

Surprisingly enough, for you at least, he didnt say it was dead money, that i can see anyway. Neither did i.

Edit:
Well they can give me stick about being too slow at least:)

07-11-2011 10:53PM

Head The Wall wrote: »

...........................
Simple question do you reckon I have made the right choice or wrong choice..................

I don't think you've made a choice really, you said yourself you only started saving in the last few years. Folks for the most part needed savings to get mortgages, you were well into your 30s before you started saving, according to yourself. No doubt you'll change the facts now though..

Head The Wall wrote: »

.....
especially considering we've only been saving for the last few years.
....

But to answer your question I think you didn't do the right thing, I won't say choice as I reckon you didn't actually have one. As I said, graduate in 1996, buy in early 00s, sell on at the peak (or close to it) would have been the "right" choice

So no, you didn't :P

Head The Wall wrote: »

.
I don't feel the need to pick at people to be happy about myself...

Yet you feel the need to mention in a thread where folks are happy about their mortgages dropping a bit that you are mortgage free with a six figure sum saved up?

bbsrs · 07-11-2011 10:54PM

Head The Wall wrote: »

At the end of the day I'm happy and that's all that matters to me. .

And you six figure savings:) they must help with the happiness , the thing about saving a large sum of money over a long period of time is you become attached to it and its not easy to take out 100k and be left with a blank space on your statement where it used to say 100k for a few bricks and mortar. Good luck witht the house hunting and the separation from your savings.:)

themadchef · 07-11-2011 10:54PM

I have a variable rate mortgage. I had the option to have a tracker the same as i imagine 99 if not 100% 0f the variable rate holders out there. They were pretty new to the market and i was not feeling brave.

Am i kicking myself now? Hell yeah! but .... That's life is it not?

Where it stings is the the amount of tax payers money we have had to invest in these initutions just to stop them from imploding, and they cant seem to houses in order.

bryaner · 07-11-2011 10:56PM

Head The Wall wrote: »

I haven't made as many crap presumptions as you have in this thread

You were the one questioning was I still living with mammy and Daddy or paying rent, crap job etc.

Simple question do you reckon I have made the right choice or wrong choice. You and the other posters are just trying to pick holes in what I have done which is fair enough but none of ye can prove that I would have been better off buying in the last few years. So in the absence of that ye just look like begrudgers.

At the end of the day I'm happy and that's all that matters to me. I don't feel the need to pick at people to be happy about myself.

You flamed this whole thread by sneering a some people that have mortgages and were happy about the ECB rate cut whilst boasting about your 6 figure savings and how smart you think you are.

Self praise is no praise..

07-11-2011 10:57PM

Yahew wrote: »

.............

Whats gloating about it. People like you - with the rent is dead money crap - are still going on with your nonsensical rants despite the fact that that kinda moronic rhetoric has seen half the population with not only no savings, but negative equity i.e. poorer than the homeless.

I never said renting was dead money

I will say though, buy a house for €250,000, pay €1000/month over 30 years, rent will cost you 80% of that. Regardless of how much the house dips to at any stage over the term it's cost you an average of €200/month over what renting would have cost. With life insurance etc if, God forbid you die your family have a home after you're gone, there's a lot to be said for it.

Bruthal · 07-11-2011 11:09PM

RoverJames wrote: »

Head The Wall wrote: »

I don't feel the need to pick at people to be happy about myself.

Yet you feel the need to mention in a thread where folks are happy about their mortgages dropping a bit that you are mortgage free with a six figure sum saved up?

Indeed, here is a reminder, which was in response to people saying they will be happy to have a rates reduction.

Head The Wall wrote: »

Will any of ye save more than the people like myself who have been saving the last few years and will get a house at a lot cheaper price, I think not. I have something to be happy about

What was the idea of that, to show others they have nothing to be happy about compared to yourself? Its like saying only people as well off (in your own mind) as yourself should be happy about financial improvements.

Gumbo · 07-11-2011 11:27PM

Head The Wall wrote: »

So in the absence of that ye just look like begrudgers.

At the end of the day I'm happy and that's all that matters to me. I don't feel the need to pick at people to be happy about myself.

A bit like your posts on PS pay :rolleyes:
simple begrudery.

07-11-2011 11:27PM

Yahew wrote: »

..........

Whats gloating about it. People like you - with the rent is dead money crap - are still going on with your nonsensical rants despite the fact that that kinda moronic rhetoric has seen half the population with not only no savings, but negative equity i.e. poorer than the homeless.

Defining folk in negative equity who have no savings as being poorer than the homeless is nothing short of moronic really. I wouldn't have expected any more from you though

Head The Wall · 07-11-2011 11:37PM

RoverJames wrote: »

I never said renting was dead money

I will say though, buy a house for €250,000, pay €1000/month over 30 years, rent will cost you 80% of that. Regardless of how much the house dips to at any stage over the term it's cost you an average of €200/month over what renting would have cost. With life insurance etc if, God forbid you die your family have a home after you're gone, there's a lot to be said for it.

Those payments won't cover the 200k interest on that mortgage leaving aside all the other costs, upkeep and taxes associated with owning a house.

Bruthal · 07-11-2011 11:45PM

Yahew wrote: »

but negative equity i.e. poorer than the homeless.

Negative equity definitely means a person is poorer than the homeless? Your out of your depth in everyday common sense if thats your belief.

And head the ball thanked that as well, no surprise there:pac:

07-11-2011 11:54PM

Head The Wall wrote: »

Those payments won't cover the 200k interest on that mortgage leaving aside all the other costs, upkeep and taxes associated with owning a house.

I said buy a house for €250,000, I didn't say get a 100% mortgage for €250,000 did I

How can you estimate the interest cost on a property over 30 years? Fixed rates aren't available over a 30 year term and variable rates are just that, variable.

You've ignored all my other points too :pac:

Seems as you are being a tad awkward, what do folks who rented for 30 years do when they near retirement age?

Head The Wall · 07-11-2011 11:59PM

RoverJames wrote: »

I don't think you've made a choice really, you said yourself you only started saving in the last few years. Folks for the most part needed savings to get mortgages, you were well into your 30s before you started saving, according to yourself. No doubt you'll change the facts now though..

But to answer your question I think you didn't do the right thing, I won't say choice as I reckon you didn't actually have one. As I said, graduate in 1996, buy in early 00s, sell on at the peak (or close to it) would have been the "right" choice So no, you didn't :P

You're presuming I'm older than I am (mid 30's) and as I already stated I didn't want a house back then so that's not a valid comparison to make.

RoverJames wrote: »

Yet you feel the need to mention in a thread where folks are happy about their mortgages dropping a bit that you are mortgage free with a six figure sum saved up?

I never stated that I am mortgage free with a six figure sum, you look like you're just being picky for the sake of it. You don't even read the posts properly is it any wonder you get your facts wrong.

bbsrs wrote: »

And you six figure savings:) they must help with the happiness , the thing about saving a large sum of money over a long period of time is you become attached to it and its not easy to take out 100k and be left with a blank space on your statement where it used to say 100k for a few bricks and mortar. Good luck witht the house hunting and the separation from your savings.:)

I'll have no problem spending it, I'll be very happy with the value I will get for it. You seem to be implying I would have been happier spending even more for the same thing a few years ago, I don't think so

robbie7730 wrote: »

What was the idea of that, to show others they have nothing to be happy about compared to yourself? Its like saying only people as well off (in your own mind) as yourself should be happy about financial improvements.

Yes because I just loved being told that I was foolish to not get on the ladder during the boom and all the other crap I had to listen too. It's kinda strange now how people don't like being told the error of their ways. Even with hard facts to back it up ye three still reckon I was wrong, ye are deluded

Anyway I'm off, I'll leave ye to your threeway

kceire wrote: »

A bit like your posts on PS pay :rolleyes:
simple begrudery.

No simple facts which you like to ignore, the country can't afford PS wages and pensions amongst many other things. Only idiots think otherwise.

Oh by the way I responded to your request about interest payments on a small mortgage, you seem to be ignoring it although as a mortgage holder yourself you should already have been aware of what a 300k house costs over the length of a mortgage.

No need to thank me I'll happily pay 20k interest instead of 280K

Gumbo · 08-11-2011 12:02AM

Head The Wall wrote: »

Oh by the way I responded to your request about interest payments on a small mortgage, you seem to be ignoring it although as a mortgage holder yourself you should already have been aware of what a 300k house costs over the length of a mortgage.

No need to thank me I'll happily pay 20k interest instead of 280K

what ? you've lost me now

Head The Wall wrote: »

Yes because I just loved being told that I was foolish to not get on the ladder during the boom and all the other crap I had to listen too. It's kinda strange now how people don't like being told the error of their ways. Even with hard facts to back it up ye three still reckon I was wrong, ye are deluded

so in the same manner, people telling PS they were foolish to take the low paying job, look who's laighing now

Head The Wall · 08-11-2011 12:08AM

RoverJames wrote: »

I said buy a house for €250,000, I didn't say get a 100% mortgage for €250,000 did I

The total interest paid over 30 years is still huge compared to 10 years even allowing for a lesser amount.

RoverJames wrote: »

How can you estimate the interest cost on a property over 30 years? Fixed rates aren't available over a 30 year term and variable rates are just that, variable.

I linked to a calculator which while not guaranteed lets people make an informed decision as to what's best for them, it's a guide not gospel

It has already been posted that rent doesn't stay the same for 30 years but you don't read the posts so you're not going to know that, not my fault

RoverJames wrote: »

Seems as you are being a tad awkward, what do folks who rented for 30 years do when they near retirement age?

Well if they choose to rent for that length I'm sure they have a plan in mind, that's not my plan though. I just didn't plan on buying in the last few years and will buy a house when I see what suits.

08-11-2011 12:09AM

Head The Wall wrote: »

You're presuming I'm older than I am (mid 30's) and as I already stated I didn't want a house back then so that's not a valid comparison to make.

Oh no I was a few years out with my approximation.

1996 was 15 years ago, if you graduated at 20 you'd be 35.

Head The Wall wrote: »

I never stated that I am mortgage free with a six figure sum, you look like you're just being picky for the sake of it. You don't even read the posts properly is it any wonder you get your facts wrong.

So you have a mortgage so do you ? Because you did say you have savings to the tune of six figures. What fact do I have wrong? You either have or have not a mortgage and you either have or have not six figure savings.

Head The Wall wrote: »

Anyway I'm off, I'll leave ye to your threeway

.............

We have us an internet hardmen lads :pac:

08-11-2011 12:12AM

Head The Wall wrote: »

The total interest paid over 30 years is still huge compared to 10 years even allowing for a lesser amount.

I linked to a calculator which while not guaranteed lets people make an informed decision as to what's best for them, it's a guide not gospel

It has already been posted that rent doesn't stay the same for 30 years but you don't read the posts so you're not going to know that, not my fault

Well if they choose to rent for that length I'm sure they have a plan in mind, that's not my plan though. I just didn't plan on buying in the last few years and will buy a house when I see what suits.

I thought you were off a few mins ago?
Is the internet hard man staying around :cool:

Bruthal · 08-11-2011 12:13AM

Head The Wall wrote: »

Yes because I just loved being told that I was foolish to not get on the ladder during the boom and all the other crap I had to listen too. It's kinda strange now how people don't like being told the error of their ways. Even with hard facts to back it up ye three still reckon I was wrong, ye are deluded

No one here told you that you were wrong about it. People just pointed out your gloating mentality. And how you will mention all about your small mortgage now imminent. But if you knew so much like you seem to suggest, why didnt you buy in the 90`s, and sell at peak time as was asked of you already?

Do you say all that to your friends on a sat night, about being deluded? Or where they also as prudent as yourself, so you all just laugh at all the other mortgage holders around you. Or is it only on the net you do it?

In reality, you knew nothing more than anyone else. Id say you likely couldnt afford it before, which there is nothing wrong with. But to then come claiming you were super prudent.....

08-11-2011 12:16AM

robbie7730 wrote: »

..........

In reality, you knew nothing more than anyone else. Id say you likely couldnt afford it before, which there is nothing wrong with. But to then come claiming you were super prudent.....

Nah, he didn't want to buy one, although he only started saving a few years ago, graduated from college in 1996 but was a right genius back then :cool:

Good thing his Mrs has a few quid :pac:

Head The Wall · 08-11-2011 12:16AM

kceire wrote: »

what ? you've lost me now

Here's what you posted twice and still don't seem to remember it.

kceire wrote: »

as i said before, i'd like to see the calulations to see how much ebtter of you would be. Youve got to add in the cost of that rent youve been paying for 15 years into the calculations also.

could be an interesting analysis.

kceire wrote: »

so in the same manner, people telling PS they were foolish to take the low paying job, look who's laighing now

What are you on about? what has that got to do with this thread

Bruthal · 08-11-2011 12:17AM

RoverJames wrote: »

Nah, he didn't want to buy one, although he only started saving a few years ago, graduated from college in 1996 but was a right genius back then :cool:

Good thing his Mrs has a few quid :pac:

I laughed:D

08-11-2011 12:18AM

Head The Wall wrote: »

...........

What are you on about? what has that got to do with this thread

What does your first post have to do with the thread? :rolleyes:

Gumbo · 08-11-2011 12:26AM

Head The Wall wrote: »

Here's what you posted twice and still don't seem to remember it.

if you bothered to read and practice your own advice, i never once said you were right or wrong. I said i would be intrested in seeing the calculations to see how better off you (or anybody else) would be buy buying now over a few years ago in general. Allowing for all the years of rent paying, then clearing your savings and buying now with the higher interest rates, i'd still like to see a comparison in the amount of years against payments made and who if anybody would be financially better off (money in posket or bank) after the 2 people have finished paying their mortgage?

Head The Wall wrote: »

What are you on about? what has that got to do with this thread

In fairness now, if you want to nit pick about the context of posts within a thread, its pot, kettle, black here, as it has as much weight as your original post in this thread.

ECB cuts rate to 1.25%

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