Ever wondered what interest rates have been in the past?

LandlordLee

Take a look at this.

Gives great detailed rates over the last century -

http://www.bankofengland.co.uk/statistics/rates/baserate.pdf

straddie

Great resource, thanks!

JMC39

Being young-ish (26), I didn't realise how high rates used to be. I've always taken the 'warning your repayments will be x at 12%' with a pinch of salt. What are the chances of this 10%+ rates occuring in the next 5 years?

LandlordLee

Chances close to zero of that happening.. But perhaps one day. In saying that though home ownership during the high interest rate times was very low so it had little effect on the population as they would do now.

And during most of these times the country was in a mess.

bilbocroft

Anyone know where I can find this information?

Just about to redeem our main mortgage taken out in 1983 when it seems they, (the building society/bank), added on £1200 of interest in 1985 for no good reason.

We are expecting a letter, in the next 7 days, detailing their offer to put it right but would like to check the figures ourselves.

We don't have a record of the applicable interest rates so if you can point us in the right direction we would be very grateful.

FYI we had an interest only mortgage with an endowment policy.

LandlordLee

Look at the above link it will give you the exact rates.

bilbocroft

Obviously that's where I looked first.

Thanks for the reply but I was looking for an easier 'accepted' average to use to calculate 22 years of interest - taking into account I've only got 'O' level maths.