Can we PLEASE stop talking ourselves into a recession. Mortgage providers, banks and lenders in general are not stopping their lending, they are just being more cautious - and rightfully so.
I have just come of my fixed two year deal (4.49%) and had to go to go through the mill of looking around again, but managed to get 5.79% fixed with a £199 arrangement fee. Might not be the best deal out there, but when you take into consideration that the average deal lasts between one and seven days at the moment, you need to strike whilst the iron is hot.
We are NOT in a crisis and I am sick of the media frenzy telling us lies. There is a slow down and correction happening in the financial world that is long overdue. There is, however, a real danger that if the media continues its uneducated scaremongering there will be a real crisis of similar proportions to the 1989/1991 disaster. The UK still has growth and this is nothing to do with Labour or its lies and spin, this is because the UK systems are different to the rest of the world. 2% growth year on year is still growth. We have issues with the cost of living and this is by far the biggest threat to the economy. That is caused by Browns 10 years of mismanagement and lack of savings policy. If we all tighten our belts and actually start to rationalise our spending, we can prevent the problems and calm the system down. Anyone taking out a 2 year fixed deal in 2006 who did not plan for a significant rise was deluding themselves. Look at the history before making the biggest financial deal of your lives. Learn, and then act.
SHARK!
For every positive action, there's an equal and opposite government plan.