Nationwide: No More Rate Cuts

drbeat

alared wrote: »

No they shouldn`t.

What about the hard-working SAVERS who supply the money for the mortgages.

I think you'll find that it doesn't quite work that way - it's all based on debt. Creating money from nothing, selling the debt to some chinease investor and then collecting the interest.

Gorgeous_George

It's the savers' fault for saving with banks that took unsustainable risks with their money.

Forget savers for a moment, what about the taxpayer. Without taxpayers' cash there'd be no savings left. It is, after all, savers who were bailed out. Borrowers would still owe the same whereas savers could have lost £££s if banks had been allowed to collapse.

[Deleted User]

If the savers hadn't horded their money away, and spent it like good consumers, we might not be in a recession no!

SPEND SPEND SPEND!

WTF?_2

ringo_24601 wrote: »

If the savers hadn't horded their money away, and spent it like good consumers, we might not be in a recession no!

SPEND SPEND SPEND!

I was accused on this group of being a 'cash hoarder' once......

Those damn savers, hoarding all the cash! Set it free you economic terrorists!

[Deleted User]

Well, just imagine how small our economy would be if people only bought the bare minimum to live on

Gorgeous_George

If we don't buy 'stuff' we won't need people employed making 'stuff'.

GG

[Deleted User]

Designing stuff, making the parts for stuff, putting stuff together, advertising stuff, transporting stuff, buying stuff in bulk, selling stuff to smaller suppliers of stuff, selling stuff to consumers.

Without stuff - we're stuffed

mrcow

amcluesent wrote: »

They should be MADE to pass on the rate cuts to hard-working families.

Why should they?

If you don't like the terms of an agreement - don't sign it in the first place. There are plenty of lenders who don't impose such collars.

PS. "Hard working families" - have you been listening to too much government spin lately?!

chayam

thxs to all for your mixed some quite blunt replies
yes I do have a collar of 2.75 and have been on a tracker fr 2+ yrs and therefore have also previously paid a higher rate and also paid a high arrangement fee for this so all in all in a way im getting my money back
I was wise and chose a tracker and didnt opt for fixed but you make your own choices when taking out a deal

MiserlyMartin

alared wrote: »

No they shouldn`t.
You`ve all had it cushy with low interest rates of around 5% for the past few years.

I don`t know how you would go on if rates went back to 15%, then you`d really have something to cry about.

Yes and rates may well rise a lot in a few years despite what the BoE say. Since when have any of their inflation forecasts been accurate? We do have inflationary pressures especially with the sinking pound and rates this low. If that happens they will have to raise rates again. It may be that a load of people go and get 'bargain houses' at 120K and then get stuffed when rates go back to 7% or more. 2% to 7% ouch!