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Interest Rates
kriss_boy
Posts: 2,131 Forumite
Say by the end of next week the Torys and Lib Dem agree to form a coallition then how soon do you reckon interest rates will creep up or rocket?
Ive become acustom to my mortgage interest rate of 1.5% :cool:
Ive become acustom to my mortgage interest rate of 1.5% :cool:
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Comments
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not any time to soon....but they will only go one way when they do start to move.If you find yourself in a fair fight, then you have failed to plan properly
I've only ever been wrong once! and that was when I thought I was wrong but I was right0 -
That's why I fixed a few months back. Managed to lop a couple of % off at the same time.
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It's foolish for anyone to rely on rates lower than a minimum of 6% and the right thing to do was to keep paying the same amount when they went below 6%.
Obviously if a persons circumstances have changed with a job loss then i sympathise.0 -
Yea we overpaid for most of last year (until we went to australia)!
Both of us work so we could afford to pay out mortgage at an interest rate of 20%... we just aspire to trade up and have a family in the next 3 or 4 years.
Interest rates of 7/8% over the next few years wouldnt be the end of the world.0 -
Because rates dropped, I went from knowing I had the money to pay my bills ... to ... not.
It's outrageous the way savers have been punished.0 -
IRs have to go up.
Its just a question of when.0 -
PasturesNew wrote: »Because rates dropped, I had to get a job
Corrected that for you.;)In case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot:cool:0 -
PasturesNew wrote: »Because rates dropped, I went from knowing I had the money to pay my bills ... to ... not.
It's outrageous the way savers have been punished.
There is a case to say low inflation has protected your savings, but i don't fall for that either
The "system" is what it is and the roller-coaster will trundle on.
The bottom line is (risk free) savers need to be able to get by on 3% net (instant access) in reasonably "normal" times.
Mortgage payers need to be able to get by on rates of 8% to be reasonably "safe".
Anything else and either may have to earn extra income on times.0 -
We're almost certainly going to fix.....I think! Problem is the 2yr fix is really tempting compared to a five year.0
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There is a case to say low inflation has protected your savings,
Hard to make that case when the official figures for inflation are roughly six times higher than the BoE base rate.“The ideas of debtor and creditor as to what constitutes a good time never coincide.”
― P.G. Wodehouse, Love Among the Chickens0
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