ThePropertyPin.com – We got banned!

Having been a contributor for three years to ThePropertyPin I was unceremoniously banned yesterday! In the past I had worked with the owner of the site to make a podcast, helped to contribute and create countless posts and then got the boot.

I was given the option (click image above to see full size version) of taking a different name and never mentioning my prior username or anything regarding my disagreement with the moderators of the site on the ban. I committed the cardinal sin of questioning a mod decision that was based upon some ongoing banter between me and a mod, essentially though, The Unwelcome Guest can give a slag but not take one.

What a shame, this used to be a great site and when many in the public domain had turned their back on it I stayed put. All of my final posts were deleted, but I screen-shot them for the sake of transparency. …

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Irrational banking, non-competition creating profits unexpectedly.

That banking in Ireland is a little irrational at present is a given, however, there are occurrences in the market which will change pricing structures in the near future, interestingly, by trying not to compete for business, several banks will ultimately make the market more profitable for all of the banks, achieving almost the opposite of what they had hoped to do.

I’ll explain, at the moment we have seen widespread Sovereign Credit Retrenchment, that’s a fancy way of saying that banks who are bailed out by certain countries are only really focusing on their indigenous markets because it is those markets that bailed them out. Irish banks have done this, Irish owned UK operations are closed. Equally, UK banks here are doing this by making their existing business rates higher and their new business rates exceptionally high.

Bank of Scotland’s new business variable rate is 6.19%, a whopping 5.19% over the ECB, they are doing this to avoid lending, and they are also paring back LTVs so that you have to have greater equity in the deal to borrow, …

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