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Thread ID: 96949 2009-01-30 00:01:00 Phil Goff - Why Labour are so wrong.... SolMiester (139) PC World Chat
Post ID Timestamp Content User
743164 2009-01-30 00:01:00 Cant you believe this!!!

home.nzcity.co.nz

Labour leader want the Banks to waive their mortgage break fee, so borrowers can re-mortgage at the new lower rates.....ROTFLMAO.....what a FW!!

Why on earth he would expect bank to suck up the lose as they had to borrow at the higher rates in the 1st place to lend to the mortgagees....

If I had 100k in the bank @ 9% for 1 yr, and then dropped to 5%, do you think the bank would expect me to break contract to the lower rate?....What a pillick!
SolMiester (139)
743165 2009-01-30 03:15:00 I guess nobody here has a floating mortgage...are you all fixed and pi**ed off? SolMiester (139)
743166 2009-01-30 03:22:00 Don't have a mortgage :) :) Zippity (58)
743167 2009-01-30 03:44:00 I'm fixed, but not ****ed off - my fixed portion comes up in May 2010 which, I expect, is when the interest rate curve will have leveled out, and started to climb again. The perfect time to re-fix IMHO nofam (9009)
743168 2009-01-30 04:25:00 I guess nobody here has a floating mortgage...are you all fixed and pi**ed off?

The banks should be able to do what they like.

There again when you sign up for a mortgage the bank pays the money to the previous owner of the house at whatever rate.
Sweep (90)
743169 2009-01-30 04:44:00 Mine is fixed, at a perfectly affordable rate.

Has been for a number of years.

That aside, Labour have had plenty of moronic things to say since getting fired, at least they are no longer in a position to put their moronic thinking into practise.
Metla (12)
743170 2009-01-30 05:28:00 Typical Labour thinking - you break a contract when it doesn't suit you. If you signed up to a long term fixed at high rates - bad luck.

I'm on floating.
Twelvevolts (5457)
743171 2009-01-30 05:34:00 Nofam, you will miss the trough by almost a year wotz (335)
743172 2009-01-30 06:05:00 So I expect all those that want to break their contracts would have allowed the banks to raise the rates if the rates had gone in the other direction? I think not, they did this to get an advantage.

Of course one might argue that as the taxpayer is backing the banks as guarantors, they might want to give something back by relaxing restrictions (if possible).
RusEvo (3572)
743173 2009-01-30 07:39:00 Labour Morons!!! johnnyfrango (14148)
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