What about your mortgage?

[wirez]

Let us ask the leader of the Scottish Lib Dems. I'm sure he will be able to give us a definitive answer

Or he could giggle like a wee girl when pressed on the question

[MarkoRaj]

Go to a foreign bank? Santander HSBC, Bank of Ireland, Deutsch bank all do mortgages.

If someone could actually show a correlation rather than just saying one thing leads to another a la willie "the experts say" rennie then they might be taken a little more seriously

[actonsheep]

Let us ask the leader of the Scottish Lib Dems. I'm sure he will be able to give us a definitive answer

Or he could giggle like a wee girl when pressed on the question

The glee on his face when he says Scotlands reputation would be in tatters... what a p***k.

I'd have been annoyed if he wasn't digging himself such a massive, and hilarious hole whilst showing he has no fucking clue.

[Jamaldo]

Let us ask the leader of the Scottish Lib Dems. I'm sure he will be able to give us a definitive answer

Or he could giggle like a wee girl when pressed on the question

[Joey Jo Jo Junior Shabadoo]

Why would Scotland's credit rating affect your mortgage rate? Did everyone in the UK see their rates go up when the UK lost it's AAA rating? There is absolutely no correllation between sovereign credit rating and mortgage rates. I would suggest that anyone that thinks this is the case should lookup the ERM and Black Wednesday.

If you want to believe that having a sovereign credit rating a few notches below your current position isn't going to affect mortgage rates then you are frankly delusional. I'd like to see your evidence that there is no correlation between sovereign credit rating and mortgage rates. Ever heard of arbitrage?

[strichener]

If you want to believe that having a sovereign credit rating a few notches below your current position isn't going to affect mortgage rates then you are frankly delusional. I'd like to see your evidence that there is no correlation between sovereign credit rating and mortgage rates. Ever heard of arbitrage?

I gave you two examples. the UK has already lost it's AAA credit rating - no change to mortgage rates. Black Wednesday the UK had an AAA credit rating and increased the borrowing rate by 5% in one day.

One further point. The UK held a triple A credit rating from 1978 until it lost it in 2013. With your suggested correlation between credit rating and mortgage rates, you would expect that the UK borrowing rate would be a flat line. Here is reality:

Rather than calling me delusional, how about you actually provide some fact to counter the points previously made and in this post?

[Confidemus]

Are any unionists actually going to explain why mortgages would go up, instead of just repeatedly saying it as if it's fact?

This is a good point. Unionists like to press the fear, without giving reason for the fear.

Borders.

Tesco prices.

Currency.

Nae oil.

Mortgages.

Savings.

Pensions.

Cost of getting HP on a car.

All scare stories, all pish,.

[Ross.]

This Scottish girl who i know who lives in England was staying with us last night and her and her BF hit us with the fact that if we become independent we will all lose our pensions. Me and my gf asked who they meant by all of us (thinking it was just to do with her company etc) but she said every person in Scotland who works for the public sector will lose all the money they have paid into a pension if we get a yes

I assume you pointed out that the DWP have already confirmed that Pensions are as guaranteed with a Yes vote as they are with a No?

[throbber]

I assume you pointed out that the DWP have already confirmed that Pensions are as guaranteed with a Yes vote as they are with a No?

Well it was just one of those totally sweeping ignorant comments that takes you a back, i couldn't be bothered arguing i thought they were joking?!

[Joey Jo Jo Junior Shabadoo]

I gave you two examples. the UK has already lost it's AAA credit rating - no change to mortgage rates. Black Wednesday the UK had an AAA credit rating and increased the borrowing rate by 5% in one day.

One further point. The UK held a triple A credit rating from 1978 until it lost it in 2013. With your suggested correlation between credit rating and mortgage rates, you would expect that the UK borrowing rate would be a flat line. Here is reality:

historical-interest-rate-1900-2011.png

Rather than calling me delusional, how about you actually provide some fact to counter the points previously made and in this post?

Where to start.

So because interest rates increased alot in one day in 1992 credit rating agencies should be disregarded? Because Interest rates haven't been flat for the last 30 years then credit rating agencies should be disregarded? Why do they even exist? You are massively oversimplifying a hugely complicated system if you think that having a graph of Interest Rates vs Year for the UK is proof positive that there is 'absolutely no correlation'.

You seem to think that a new country with a new currency and a less than blue chip credit score will be able to go to the money markets and borrow at the same rate as an established country with an established currency with a blue chip credit score. That defies logic.

Your specific points are irrelevant to the overall point about borrowing rates in iScotland with a new currency, but here goes anyway:

Re the rating deduction: 2 words. Quantitative easing.

Re Black Wednesday: I'll be honest I don't know enough about it. That'll be my lunchtime reading sorted out.

[strichener]

Where to start.

So because interest rates increased alot in one day in 1992 credit rating agencies should be disregarded? Because Interest rates haven't been flat for the last 30 years then credit rating agencies should be disregarded? Why do they even exist? You are massively oversimplifying a hugely complicated system if you think that having a graph of Interest Rates vs Year for the UK is

Ok, so you asked for proof. I provided proof and now you want to claim that this near forty years of exactly zero correlation is not proof.

So perhaps you can provide some alternative proof that sovereign credit ratings being marked down a couple of notches leads to an increase in mortgage rates?

You seem to think that a new country with a new currency and a less than blue chip credit score will be able to go to the money markets and borrow at the same rate as an established country with an established currency with a blue chip credit score. That defies logic.

Proof?

[thankuplz]

Of course interest rates will go up. Any excuse for the banks to squeeze more money out of people.

[Ross.]

Of course interest rates will go up. Any excuse for the banks to squeeze more money out of people.

Interest rates will increase in the event of a No vote too. Better Together promoters neglect to consider that when talking about the impact of a Yes.

[ICTJohnboy]

Of course interest rates will go up. Any excuse for the banks to squeeze more money out of people.

And unfortunately we in Scotland, won't have any control over that - whatever happens on the 18th.

[DeeTillEhDeh]

Are any unionists actually going to explain why mortgages would go up, instead of just repeatedly saying it as if it's fact?

One way they could rise is if iScotland reneged on its share of the debt causing an increase in interest rates - but then I think most sensible folk accept that is sabre-rattling and not going to happen.

[faddythedaddy]

So is this article bullshit or not? The bit about the foreign currency charge anyway.

Mortgages rates are going to go up if we vote yes? Of course they will inevitably go up regardless in the near future anyway

Telegraph seems to be almost comically biased so a pinch of salt is taken with that mob

[topcat(The most tip top)]

So is this article bullshit or not? The bit about the foreign currency charge anyway.

Mortgages rates are going to go up if we vote yes? Of course they will inevitably go up regardless in the near future anyway

Telegraph seems to be almost comically biased so a pinch of salt is taken with that mob

It's reasoning based on wishful thinking assumptions to get to the point that the writer wants to arrive at.

It's a bit like some of the wilder flights of fantasy on the Big Rangers Administration Liquidation Thread

[topcat(The most tip top)]

And Credit Ratings put a floor under which interest ratings can't go but they don't determine rates

Foreign Exchange pressure, public borrowing requirements and monetary policy are going to have more effect

[faddythedaddy]

Cheers.

[Scary Bear]

With all due respect, f**k off Bill

Agreed.