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Bank Interest Charges
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!
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Comments
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It really does seem that way - thanks.Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
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Wutang, your sig is hilarious!Tough times never last longer than tough people.0
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owitemisermusa wrote: »Wutang, your sig is hilarious!
Likewise, ROLF or FLOR or you know what I'm sayingHi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
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.0 -
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.0 -
I wonder if Sabastian6 has any opinions on this ?Space available for rent0
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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 2009.0
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