How have you benefited from low interest rates?

Sibley

What I think you can clearly see here is that the bears thinking an interest rise will trigger a house price crash is a dream.

People have a very large buffer now. We could pay higher rates if we had to. Rather enjoy the low ones though. Simple as that.

Once the penny drops with this rate lark they will move onto something else.

HAMISH_MCTAVISH

Sibley wrote: »

Once the penny drops with this rate lark they will move onto something else.

Bear wishful thinking myth 17,389 as to why the "next leg down" is just around the corner.

Graham_Devon

Sibley wrote: »

What I think you can clearly see here is that the bears thinking an interest rise will trigger a house price crash is a dream.

People have a very large buffer now. We could pay higher rates if we had to. Rather enjoy the low ones though. Simple as that.

Once the penny drops with this rate lark they will move onto something else.

Just the idea that rates will rise, is having an affect on the housing market...

http://www.thisismoney.co.uk/mortgages-and-homes/house-prices/article.html?in_article_id=522562&in_page_id=57

geneer

HAMISH_MCTAVISH wrote: »

Bear wishful thinking myth 17,389 as to why the "next leg down" is just around the corner.

The fact you're using the phrase "next leg down", seems to suggest who's more prone to wishful thinking.

Sapphire

AD9898 wrote: »

It's not benefited me as I have no debts of any kind apart from a credit card that I spend £100-200 on occasionally, but that gets paid off in full when the bill comes.

As for BOE base rate, I guess all good things come to end (for borrowers anyway), as long as you've factored in rises in IRs when you bought or remortgaged I guess it shouldn't make much difference when they return to normal levels.

Ditto. No benefit to me at all – in fact the ultra-low interest rates have had a detrimental impact on my savings.

RenovationMan

Sapphire wrote: »

Ditto. No benefit to me at all – in fact the ultra-low interest rates have had a detrimental impact on my savings.

Perhaps you should invest your savings instead? As I have found, it certainly beats moaning about poor returns from your savings account.

ellies_angel

DervProf wrote: »

ellies_angel wrote: »

Just in time for the rate to start rising ???

If you don't mind me asking, what rate are you fixed at ?

It's fixed at 6.25 :eek: but it was the best deal at the time. I shopped around and found it then spoke to an independant financial advisor to see what they could do, they couldn't get a better one. :T

ellies_angel

LydiaJ wrote: »

ellies_angel wrote: »

In fairness to DervProf, I think it should be pointed out that s/he was not personally advising you to do any of those things. These are merely samples of things that some of the more vocal "bulls" on here typically say to people like you, and DervProf doesn't actually agree with them.

I didn't take offence. I've been on this board long enough to know when someones is having a bit of fun and when they are being argumentative. I don't tend to reply to those

aardvaak

This has not benefited me at all in fact I am a lot worst off as I don't have a mortgage, no other debts and use interest on my savings to live on (or did) - I now have to dib into my capital which is not fair.

I can not wait for rates to go back up the sooner and the higher the better.

Nikel

Yes, my student loan rate is 1.5% so I've stuck my savings at higher rates than that.