Altair: Where Does It End? (2 Viewers)

[Red]

I have a massive 100 dollars in cash.

What should I do with it?

Change it into Euros before the value of the dollar drops any further.

 

Buy on AliExpress.com

[Sadomin]

I suppose I deserve that by now.

Change it into Euros before the value of the dollar drops any further.

You don't reckon it will rise any time within say, five years?

 

[Bjerknes]

Llyods TSB just took over Halifax Bank of Scotland.

A 300 year old Scottish institution disappears, largely due to a lack of confidence in the banking sector.

It was even a well run bank by all accounts.

Yeah, heard that on CNBC earlier this morning. Get ready for more!

Change it into Euros before the value of the dollar drops any further.

Not short term at least, baby.

http://www.tfc-charts.w2d.com/chart/US/W

 

[Red]

Under normal circumstances the Lyoyds TSB -HBOS takeover would never have been allowed due it lessening competition in the banking sector.

The Government has obviously decided it is necessary to allow one bank to hold over one third of the UK mortgages in the interests of stability.

 

[JCK]

Altair, the rate for house loans is increasing here, some speculate that it'll drop and others say it will keep on rising. What do you have to say about that? I am about to take a loan in 2 weeks, shall I take it as a variable and benefit from it when it drops or shall i take a fix and bound myself for a few years?

 

[GordoDeCentral]

how aggressively do you want to pay off the house? 5 years? 10 years? 30 years?

 

[JCK]

I won't be paying off the loan value now, I will only pay the interest just to see how it goes. If i feel that I have extra I will start paying back.

 

[bianconero]

how aggressively do you want to pay off the house? 5 years? 10 years? 30 years?

One could build a house in less time.

 

[GordoDeCentral]

I won't be paying off the loan value now, I will only pay the interest just to see how it goes. If i feel that I have extra I will start paying back.

ok if you get the "interest only" how long is your rate fixed for?

 

[JCK]

ok if you get the "interest only" how long is your rate fixed for?

I can choose, 3, 5 or 10 years.

 

[GordoDeCentral]

I can choose, 3, 5 or 10 years.

go for 10, imo it's the best product as amortization costs way too much, interest wise. what kinda rate can you get in sweden?

 

[GordoDeCentral]

oh and whoever wants to understand what's going on listen to this guy, pretty accurate for a law professor http://www.npr.org/templates/story/story.php?storyId=94686428

 

[JCK]

go for 10, imo it's the best product as amortization costs way too much, interest wise. what kinda rate can you get in sweden?

I won't amortize now as I said. If I find myself with comfortable income I will start amortizing.

The rates are as follows: These are from my bank though.

I can't get one month, the minimum is 3 months

3 months 5,24%
2 years 5,83%
3 years 5,89%
5 years 5,99%
10 years 6,02%

But I think that the 3 months has increased to 5,84% yesterday.

10 years? Why? What if the rate decreases in 6 months? I'd be stuck with a high interest for 9,5 years.

 

[GordoDeCentral]

you can refinance if it does, but 6% interest only for 10 years is a good rate imo

 

[JCK]

Refinancing is a bit tricky as I understood, it recquires lots of calculations so that one would break even in the end, right?

 

[GordoDeCentral]

the only calculation you need to figure out is how many months(payments, or the difference in payment) to make up the cost of the refinance. But as your main residence i would be a bit conservative and take the 6% now for 10 years.

 

[bianconero]

This exchange wins my vote for the posts of the month.




I had to tear myself away from watching the paint dry.

 

[bianconero]

As Pete said:
Hope I die before I get old.

 

[JCK]

the only calculation you need to figure out is how many months(payments, or the difference in payment) to make up the cost of the refinance. But as your main residence i would be a bit conservative and take the 6% now for 10 years.

Ok, cheers.

On another note, what's with the psychedalia?

 

[bianconero]

I am thinking about investing in my leg but wondering where it will end. Can someone give me some advise?