Bank of England rates back to 1970 - may help choose mortgage

supersunshine

Hi everyone

Just found this document on the net with all the bank of england rate changes back to 1970. I looked at something similar when I chose my last mortgage deal and picked the perfect one - shame it is ending soon :-( I will find this very useful for picking my next one however and thought others may too:

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

Happy reading :-)

threekings

Could we get back to the days of interest rates over 10%? Off to check on that 15 year fixed rate mortgage then......

supersunshine

I hope not but it is quite scary reading isn't it, it just shows how high rates can go!

theartfullodger

Question: When driving a car down the M8 do you look out of the windscreen or the rear window??

So.. why work out what happens with mortgages looking out of the rear window?? History is interesting, but probably won't tell you what will happen tomorrow...


Ho hum.. have it your way...


Lodger

PS & I remember paying 15% on a top-up mortgage.. Ouch! Bangers & Spuds for food...

supersunshine

Answer - yes I do if pulling out into the fast lane and sometimes just to be nosey too :-) It helps looking at trends in things as it shows you how high and low rates can go and the patterns in this and I looked into this last time I changed mortgage and it helped 100% for me personally.

Thought it was useful - you don't have to look at it, it isn't compulsory :-)

supersunshine

oh and I certainly do look through my windscreen when driving and hope you do too lol!