BOE Base = 2%

BiggaThanBen

Really2 wrote: »

As expected really

GBP is up, FTSE is down sharply, was a 1.5% cut expected ?

PasturesNew

Pobby wrote: »

Great news for savers NOT! PN and I are thinking of transferring our money to La La Land. IRs there at 34%!

Watching the ftse now.

Wanna go halves on that Pier?
We could remove the walkway and declare independence!

Kez100

PasturesNew wrote: »

I was cooking beans on toast when it was announced.
I scraped the beans back into the can .... can't be having such extravagences now!

But you are saving more on your next home each month than you are losing in interest, surely? So the decision you made is still, overall, a sensible one.

Even if not, we all take chances and some prove right and some prove wrong. You could have sold and prices rose, for example - but they haven't, so that's all good 9in fact dropped 2.4% in November, did I read from Halifax) . I'm sat on some shares which have really bottomed out thinking they were a good investment. Now they are worth 30% less than I paid. Choice I made thinking I was buying cheap.

It's volatile at the moment. Many of us can look at our situation either glass half full or glass half empty.

Soot2006

*sigh*

Waiting for the e-mail from my savings account telling me they're going to start taking payment for keeping my money rather then paying me for the use of my cash ... Goodbye, dreams ...

PasturesNew

space_rider wrote: »

Surely you`re not that bad off. I was going to have beans on toast and now thinking that maybe I should splash out and go to the chip shop.

Nearly all my income is now entirely from savings interest. Every time it drops, I lose. It's not enough to pay the rent even now.

I had a big splash out last night, chippy fish/chips/mushy peas. That was my "last hurrah" I suspect.

heffsta

PasturesNew wrote: »

Nearly all my income is now entirely from savings interest. Every time it drops, I lose. It's not enough to pay the rent even now.

Time for a job then?

PasturesNew

Kez100 wrote: »

But you are saving more on your next home each month than you are losing in interest, surely? So the decision you made is still, overall, a sensible one.

Yes, that's what keeps me going. I was downsizing anyway, from 6-beds to max 2-beds. So still OK there on the masterplan. And there's still 3-4 years to play.

To sell a house like mine where I used to live it'd now have to be priced about £80k less. So that can be considered "banked" over the last 18 months.

Kez100 wrote: »

Even if not, we all take chances and some prove right and some prove wrong. You could have sold and prices rose, for example - but they haven't, so that's all good 9in fact dropped 2.4% in November, did I read from Halifax) . I'm sat on some shares which have really bottomed out thinking they were a good investment. Now they are worth 30% less than I paid. Choice I made thinking I was buying cheap.

It's volatile at the moment. Many of us can look at our situation either glass half full or glass half empty.

Plan C is now to get a job in January.

space_rider

PasturesNew wrote: »

Nearly all my income is now entirely from savings interest. Every time it drops, I lose. It's not enough to pay the rent even now.

I had a big splash out last night, chippy fish/chips/mushy peas. That was my "last hurrah" I suspect.

Sad to hear that. My Gran only has her savings and a small pension but at least she doesn`t have to worry about paying rent as she cleared her mortgage years ago.

Kez100

PasturesNew wrote: »

Nearly all my income is now entirely from savings interest. Every time it drops, I lose. It's not enough to pay the rent even now.

I had a big splash out last night, chippy fish/chips/mushy peas. That was my "last hurrah" I suspect.

OK, trying look at it glass half full. Your new home (one day) might cost £100,000. It was £200,000k at peak so was worth £170,000 at start of November and £165,750 at the end. Your savings have dropped in the month from whatever, say £150,000 to £149,000 because your interest didn't cover all your expenses.

Still a win situation and more preferable (financially) to the alternative which was living in your depreciating last home, surely?

Cannon_Fodder

Who would have thought we'd be seeing a graph with a steeper fall than house prices?





Doesn't smack of panic, much.