Anyone else worried about the interest rate rise?

nrsql

Anyone notice the council tax being replaced by a house price tax set to 1% of house value?
Doubt whether this would be possible considering the difference in property value across the country but would affect some people a lot more than the rate rise.

SunderlandBlackCat

The only effect it will have on me is reducing the effectiveness of my overpayments. When I first took out my mortgage rates were about 2% higher than now but every time they dropped I deliberately kept on paying the same amount but when they rose again the bank automatically put my payments up & I deliberately let that happen I also deliberately increased my payments by £10 per month every year & over time thats made a real dent in the mortgage.

Bogof_Babe

I am totally puzzled by the suggestion of linking Council Tax to property price - isn't that exactly what it's always been? They are throwing this at us as if it is some great new idea, but I can't see that it will make much difference.

Krissymurt, if you have something to say just say it - what are you waiting for?

Gemmzie

I'm worried for my parent's who have a terrible flexible rate mortgage, the September rise cost an extra £60 per month :eek: So finding another £60 is going to be impossible _pale_

For me mainly, it'll push up savings rates which is good