So will interest rate rises have very little impact?

DervProf

moneysaver84 wrote: »

Totally agree with you, i'm living at home with parents because although I could probably just move out (leaving 100 quid a month to live on), I would be seriously overstretching, in the mean time why should sensible savers be punished for people who have over borrowed in the first place and paid over the odds prices :mad:

You must be a burger flipper or sumfink.

What`s wrong with you man ? Work hard like wot I did. 26 hours a day, 9 days a week. It`s never easy getting a place of your own. And once you`re on the ladder, the only way is up. Don`t listen to the ghouls, listen to us property owners, we had it hard too (I`ll let you into a little secret...... I didn`t, but you ain`t seen me, right ?). Buy now or miss the boat.

Graham_Devon

DervProf wrote: »

Buy now or miss the boat.

This boat has been hanging around for a while now, don't you think?

Wonder when it will set sail.

DervProf

Or sink ???

Really2

If rates went up overnight it would be a problem for some.

But as I have said in the past I really don't see rates getting to 4-5% unless/until we are well out of this mess.

So it is likely to be less of a problem then.

Higher rates are usually used to cool down an overheating economy, can't really see us overheating any time soon to be honest.

Graham_Devon

DervProf wrote: »

Or sink ???

Impossible.

This ship is unsinkable. That's what is so remarkable about it.

I know they said that once before, but this time it's different.

yorkshirekev

Graham_Devon wrote: »

Impossible.

This ship is unsinkable. That's what is so remarkable about it.

I know they said that once before, but this time it's different.

I have heard that before too! There is a new paradigm on investment cliches.

mcc100

I know it's a different scenario, but the crisis in Ireland was mainly due to interest rates being too low for too long.

The longer that interest rates are kept low in this country, the bigger the impact on house prices when they finally do rise.

Sibley

Graham.

I'd like to ask you. Do you want interest rates to rise? If so why?

Maybe I'm reading this all wrong but I feel you think it will teach those nasty homeowners a good lesson.

In my case an interest rise wouldn't be the end of the world and I could afford to pay it.

Saying that, I really don't want them to go up. Even if they do rise it will take a very long time before they return to say even 5 or 6%. It won't just be in one go either. They will rise 0.25% or so a month. That won't hurt.

They will rise slowly. That's when they do eventually go up. I am gambling rates will stay low for the next 2 years. This is a one off time to do something with the money saved for me. I've already overpaid my mortgage for a year.

Saying that I really don't see rates going anywhere for 2 years plus. Hope I'm right.

Graham_Devon

Sibley wrote: »

Maybe I'm reading this all wrong but I feel you think it will teach those nasty homeowners a good lesson.

You are correct.

I myself, pay a mortgage, currently on SVR

moneysaver84_3

DervProf wrote: »

You must be a burger flipper or sumfink.

What`s wrong with you man ? Work hard like wot I did. 26 hours a day, 9 days a week. It`s never easy getting a place of your own. And once you`re on the ladder, the only way is up. Don`t listen to the ghouls, listen to us property owners, we had it hard too (I`ll let you into a little secret...... I didn`t, but you ain`t seen me, right ?). Buy now or miss the boat.

Buy now? Why I have a large amount of cash but you think i'm gonna buy a house whilst prices are continuing to fall each month and whilst interest rates can only go up! I live at home rent free so why rush

No I don't flip burgers, to be honest I can't cook, thank God for parents cooking, you really appreciate it when you come back from uni!