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Why people want BoE rate to rise?

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Comments

  • Really2
    Really2 Posts: 12,397 Forumite
    10,000 Posts Combo Breaker
    Thrugelmir wrote: »
    Maybe not.

    Still means 47% are overpaying:confused:, that is higher than other mortgage types that are overpaying I presume.

    I have not kept my repayment figure the same I have increased it, that would put me in with the people who have changed their payments. :)
  • IveSeenTheLight
    IveSeenTheLight Posts: 13,322 Forumite
    Thrugelmir wrote: »
    Maybe not.
    According to Unbiased.co.uk, 53 per cent are not paying off more now to reduce the size and term of their debt, despite there currently being prime opportunity to do so with such low rates .

    http://www.mortgages.co.uk/news/2009/Sep/tracker-mortgage-customers-fail-to-overpay.html

    So that would mean that 47% of tracker are overpaying their mortgages :confused:
    Still a significant number
    :wall:
    What we've got here is....... failure to communicate.
    Some men you just can't reach.
    :wall:
  • Really2
    Really2 Posts: 12,397 Forumite
    10,000 Posts Combo Breaker
    IveSeenTheLight wrote: »
    It's okay, his wife will have final say and she does not want to stay off property ownership ;)

    Next week.
    mitchaa wrote: »
    BOE Base rate to stay at 0.5% for next 25 years.
  • IveSeenTheLight
    IveSeenTheLight Posts: 13,322 Forumite
    Really2 wrote: »
    Still means 47% are overpaying:confused:, that is higher than other mortgage types that are overpaying I presume.

    I have not kept my repayment figure the same I have increased it, that would put me in with the people who have changed their payments. :)

    Ach you beat me to it.
    I've kept my monthly payments the same and put a hefty amount away last week.
    What category would that put me in?
    :wall:
    What we've got here is....... failure to communicate.
    Some men you just can't reach.
    :wall:
  • Really2
    Really2 Posts: 12,397 Forumite
    10,000 Posts Combo Breaker
    IveSeenTheLight wrote: »
    Pensioners earnt their savings, they should utilise it as they wish

    If you really have concern for pensioners, it might be worth considering those with no savings, not about those that do.

    You have got to love "feel sorry for the pensioners with savings argument."

    Presumably the ones with non are wasters and deserve to freeze to death while the others can't go on a cruise this year. :D
  • Really2
    Really2 Posts: 12,397 Forumite
    10,000 Posts Combo Breaker
    IveSeenTheLight wrote: »
    Ach you beat me to it.
    I've kept my monthly payments the same and put a hefty amount away last week.
    What category would that put me in?

    Another one enjoying low Base like me :):beer:
  • Old_Slaphead
    Old_Slaphead Posts: 2,749 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Really2 wrote: »
    Presumably the ones with non are wasters and deserve to freeze to death while the others can't go on a cruise this year. :D

    Anybody with a bit of nous should have been getting 6-7% interset on savings until fairly recently. Even now 3.3% for instant access is available. Shouldn't need to forgo a cruise this year :)
  • maveli
    maveli Posts: 590 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    Me too enjoying the low rate. But don't overpay the mortgage but goes to HSBC's regular saver which gives 8% compared to the 0.73% mortgage rate.

    I don't understand why people overpay when they can get 5+% interset on savers
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Really2 wrote: »
    You have got to love "feel sorry for the pensioners with savings argument."

    Presumably the ones with non are wasters and deserve to freeze to death while the others can't go on a cruise this year. :D

    and may have suffered the 3 D's through life.........

    Nothing stays the same for many for ever.
  • IveSeenTheLight
    IveSeenTheLight Posts: 13,322 Forumite
    Really2 wrote: »
    Another one enjoying low Base like me :):beer:

    Well, it's significantly helped me to reduce my amortization period which has always been my long term goal.

    I was scheduled to be mortgage free on my properties in just over 8 years, but having recalculated, I could make this in 7 years now :T
    :wall:
    What we've got here is....... failure to communicate.
    Some men you just can't reach.
    :wall:
This discussion has been closed.
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