Base Rate Held at 0.5%

baby_boomer

It's pretty irrelevant unless you are on a tracker mortgage.

Rates in the real world have been set on the basis of supply and demand - for savings in particular.

max11

bagsacash wrote: »

It will take time for the economy to rise from its bottom yes. But its already being said the bottom has been reached,.

unanimously?

koopa_coffee

GeorgeHowell wrote: »

One would hope that you are right, and you probably are. But ever since universal suffrage have we had such a gullible, politically and economically ignorant, short-termist, and fickle electorate ? Sadly I don't think it's quite a foregone conclusion.

The country would be a lot worse if the conservatives got into office, and I'm not just speaking economically either.

barny_100

nw_man wrote: »

Not for a lot of prudent mortgage payers who took out fixed rates so they could budget for their mortgage.

Good news for the lucky few who gambled on rate drops.

Gambled? An economic downturn was obvious at the back end of 2007. Going variable was the prudent choice then IMO as when do interest rates rise to boost the economy?

Jonbvn

barny_100 wrote: »

Gambled? An economic downturn was obvious at the back end of 2007. Going variable was the prudent choice then IMO as when do interest rates rise to boost the economy?

We went onto a term tracker in August 2008 primarily to overpay, with some expectation that rates were headed lower (although I never expected 0.5%!). It was also clear that to keep changing onto fixed rate mortgages every few years would have incurred significant fees over the full term of the mortgage.

It was never a gamble!

Finally, to state that people with fixed rate mortgages are somehow more prudent than people with trackers (who are apparently chancers) is disingenious. I could state that people with fixed rate mortgage gambled on rate rises and lost!:rolleyes:

Jonbvn

koopa_coffee wrote: »

The country would be a lot worse if the conservatives got into office, and I'm not just speaking economically either.

Based on what exactly?

They could hardly do worse than this current shower!

Oblivion

bagsacash wrote: »

It will take time for the economy to rise from its bottom yes. But its already being said the bottom has been reached....

You have to be joking. There's not one member of this government who could find their own bottom with both hands and a flashlight! :rotfl:

We've got a long way down to go yet, particularly whilst this bunch of numpties remain in power.

Dave.

thor

Jonbvn wrote: »

Based on what exactly?

Thatcher and her motley crew.

Jonbvn wrote: »

They could hardly do worse than this current shower!

Yes they could.