for those who want the base rate to rise

whatyadoinsucka

just out of curiosity what profession.

are you an accountant, a tax expert, mortgage advisor, financial planner, a labour supporter, an unemployed bum, a pink newspaper reader, a stockbroker, a saver.

and why are you adamant we need a rate rise:money:

tara747

A saver and I am fed up of subsidising other people's borrowing!

dori2o

tara747 wrote: »

A saver and I am fed up of subsidising other people's borrowing!

I'm sick of hearing this quote.

You are not propping up anything. The coiuntry is on it's knees,in order to bring the country out of recession there needs to be enough money circulating. A rise in trerest rates at this moment is likely to do NOTHING to the rate if Inflation, and will reduce the cash available in peoples pockets, therfore keeping the country on it's knees.

There is no guarantee when you put money into an investment that it will increase, just the same with bank accounts.

If you don't like it, find a more suitable investment engine.

MegaMiniMouse

tara747 wrote: »

A saver and I am fed up of subsidising other people's borrowing!

It is the banks' profits which you are 'subsidising' - borrowing rates are HIGH, only savings rates are tied to the BoE bank rate

MMM

tara747

dori2o wrote: »

I'm sick of hearing this quote.

You are not propping up anything. The coiuntry is on it's knees,in order to bring the country out of recession there needs to be enough money circulating. A rise in trerest rates at this moment is likely to do NOTHING to the rate if Inflation, and will reduce the cash available in peoples pockets, therfore keeping the country on it's knees.

There is no guarantee when you put money into an investment that it will increase, just the same with bank accounts.

If you don't like it, find a more suitable investment engine.

You know what? I didn't contribute in any way, shape or form to this mess. I have NO borrowings of any kind and have saved hard since I started working (see my sig). Those who over-borrowed, OTOH, have had a fabulous leg-up in the form of 0.5% base rate - oh, and let's not forget the ridiculous car scrappage scheme! :mad: £2,000 subsidy per car - have a look at your P60 come April, it'll give you a rough idea of how many cars you personally subsidised last year.

And (unbelievably!) HMRC has the neck to get all uppity about the Cycle to Work scheme because it's a 'benefit in kind' and those nasty cyclists might get a whole 40% off a bike - they are jeopardising one of the few decent govt schemes that could actually promote good health and reduce congestion. Do me a favour!

Rant over.

tara747

MegaMiniMouse wrote: »

It is the banks' profits which you are 'subsidising' - borrowing rates are HIGH, only savings rates are tied to the BoE bank rate

MMM

Not high enough imho.

leveller2911

tara747 wrote: »

You know what? I didn't contribute in any way, shape or form to this mess. I have NO borrowings of any kind and have saved hard since I started working (see my sig). Those who over-borrowed, OTOH, have had a fabulous leg-up in the form of 0.5% base rate - oh, and let's not forget the ridiculous car scrappage scheme! :mad: £2,000 subsidy per car - have a look at your P60 come April, it'll give you a rough idea of how many cars you personally subsidised last year.

And (unbelievably!) HMRC has the neck to get all uppity about the Cycle to Work scheme because it's a 'benefit in kind' and those nasty cyclists might get a whole 40% off a bike - they are jeopardising one of the few decent govt schemes that could actually promote good health and reduce congestion. Do me a favour!

Rant over.

Top post, and accurate too. We are in the same boat , no debts whatsoever and p1ssed off with bailing out the f@ckless morons who have borrowed to the max.

Interest rates have been kept low for short term political reasons end of......IMO the !!!!!! will hit the fan and it will be a far larger pile of sh1te because they've kept rates too low for too long.....


For banks to have accounts that pay 0.1% interest is criminal, they are shafting savers when at the same time if you borrow money on a credit card they will charge you 19.9% interest(which is why I no longer play their game), theres no doubt in my mind they are not just increasing their reserves they are profiteering .

It seems very strange how the Government are investigating the recent rises (profiteering)in the price of heating oil but do absolutely nothing when the banks are doing the same......

wolvoman

leveller2911 wrote: »

Top post, and accurate too. We are in the same boat , no debts whatsoever and p1ssed off with bailing out the f@ckless morons who have borrowed to the max.

Interest rates have been kept low for short term political reasons end of......IMO the !!!!!! will hit the fan and it will be a far larger pile of sh1te because they've kept rates too low for too long.....


For banks to have accounts that pay 0.1% interest is criminal, they are shafting savers when at the same time if you borrow money on a credit card they will charge you 19.9% interest(which is why I no longer play their game), theres no doubt in my mind they are not just increasing their reserves they are profiteering .

It seems very strange how the Government are investigating the recent rises (profiteering)in the price of heating oil but do absolutely nothing when the banks are doing the same......

When interest rates were in high single digits and even higher, borrowers were subsidising savers.

What goes around and all that.

Gorgeous_George

Neither savers nor borrowers contributed to the mess that we are in to any significant extent.

Instead, it is a direct result of Amercan sub-prime debt being fraudulently repackaged into AAA securities and sold off around the world. !!!!less bankers failed to spot this American-fraud - just like the world failed to spot that the Americans did NOT land on the moon in 1969.

Divide and conquer. Set the public against each other and nobody will see the truth. Smoke and mirrors I'm afraid. Meanwhile, the thieving bankers and politicians continue with their pillaging of the Nation's wealth. If it was any other country, we'd send the troops in.

GG

leveller2911

Gorgeous_George wrote: »

Neither savers nor borrowers contributed to the mess that we are in to any significant extent.

Instead, it is a direct result of Amercan sub-prime debt being fraudulently repackaged into AAA securities and sold off around the world. !!!!less bankers failed to spot this American-fraud - just like the world failed to spot that the Americans did NOT land on the moon in 1969.

Divide and conquer. Set the public against each other and nobody will see the truth. Smoke and mirrors I'm afraid. Meanwhile, the thieving bankers and politicians continue with their pillaging of the Nation's wealth. If it was any other country, we'd send the troops in.

GG

How many people were forced to go into the banks and forced to take on 125% mortgages? or for that matter self cert and interest only with no repyment vehicle in place to pay off the mortgage?

If interest rates went up but 2.5% how many people with mortgages would be f**ked?...All the people I know personally who are in trouble/living on the brink all bar none over borrowed.

Thats got naff all to do with Sub -prime American debts and all to do with greedy,wannabee chavs who can't be arsed to save for anything.......

StevieJ

leveller2911 wrote: »

How many people were forced to go into the banks and forced to take on 125% mortgages? or for that matter self cert and interest only with no repyment vehicle in place to pay off the mortgage?

If interest rates went up but 2.5% how many people with mortgages would be f**ked?...All the people I know personally who are in trouble/living on the brink all bar none over borrowed.

Thats got naff all to do with Sub -prime American debts and all to do with greedy,wannabee chavs who can't be arsed to save for anything.......

I don't know how many? not many would be my guess. BTW interest rate policy is set for the good of the country and to help recapitalise banks, nothing to do with mortgage holders.