Bank Interest Charges

Bank

It seems that savers are screaming about the low interest rates. Low interest rates are NOT good for business borrowers as they are not low due to the banks loading the interest charges over base...The margins being made by the banks are enormous. I spoke to one property developer who told me has 50m on 6.25 over base from RBS with 100,000 a year in management fees... So he pays more due his risk level which is likely to crucify them!

Wutang_2

It really does seem that way - thanks.

owitemisermusa

Wutang, your sig is hilarious!

Wutang_2

owitemisermusa wrote: »

Wutang, your sig is hilarious!

Likewise, ROLF or FLOR or you know what I'm saying

Apples2

ryanbenjamin wrote: »

Now these days there are many cash 1 hour compay's which issue low interest rates i must say that cover your risk before applying a bank loan.

I would report this idiot but last time I reported one, it went ignored for weeks.

ILW

ryanbenjamin wrote: »

Now these days there are many cash 1 hour compay's which issue low interest rates i must say that cover your risk before applying a bank loan.

Yes true, the property developer could nip down the high street to the payday loan place, or maybe cash converters and get a 50 million loan by lunchtime. The 1500% interest rate may be a bit of a headache though.

Peelerfart

I wonder if Sabastian6 has any opinions on this ?

halifax71

The OP has a point.

If Base rates hadn't reduced fro 5% then my secured loan company would have made £133m less profit in 2009.