Interest Rate Rise Warning for 10m Households

leveller2911

RenovationMan wrote: »

BoE Votes to maintain 0.5% rates for another month.

Oh well, financial armageddon postponed for another month, then.

I wonder if these sorts of alarmist newspaper articles are timed to be published just before the BoE meeting in order to sell newspapers. Nah, surely not!

Bit of a smug statement, guess a Gambler on a winning steak can be smug but we all know it can't last.......;)

B_Blank

Cant wait for rate rises. If people didnt use this extended peroid of historically low rents and economic stimulus (leading to low unemployment - espicially for 30+ people - who own all the houses) to pay down their mortgages then they deserve to lose their homes.

ess0two

B_Blank wrote: »

Cant wait for rate rises. If people didnt use this extended peroid of historically low rents and economic stimulus (leading to low unemployment - espicially for 30+ people - who own all the houses) to pay down their mortgages then they deserve to lose their homes.

More pearls of wisdom.

nicko33

B_Blank wrote: »

If people didnt use this extended peroid of historically low rents and economic stimulus to pay down their mortgages then they deserve to lose their homes.

What advice do you have for people with debt on 0% credit cards?
Pay it off as soon as possible?

leveller2911

nicko33 wrote: »

What advice do you have for people with debt on 0% credit cards?
Pay it off as soon as possible?

Take a look on the Credit Card threads and see which Banks are changing their T&C,s this month and next...0% is ending ......;)

The problem with 0% is they can be withdrawn at any time......which they are.

https://forums.moneysavingexpert.com/discussion/3101582

Loughton_Monkey

leveller2911 wrote: »

Take a look on the Credit Card threads and see which Banks are changing their T&C,s this month and next...0% is ending ......;)

The problem with 0% is they can be withdrawn at any time......which they are.

https://forums.moneysavingexpert.com/discussion/3101582

Some of this is pretty good entertainment isn't it? Far better than the House Price threads.

Gorgeous_George

For people on trackers and SVRs, there is a risk that rates will rise this year. I think the risk that rates will rise by more than 2% is low and that a rise of less than 1% is only moderate. Higher rates reduce the money available to spend in the economy and we really don't need negative growth as they like to call it.

The impact of any rise will be greatest for those on trackers (just as they benefit the most from any base rate cuts).

It's good to have a Plan B. Mine is to save rather than overpay and if base rates rise higher than my savings rates, I can transfer my savings into my offset tracker account.

GG

nicko33

leveller2911 wrote: »

0% is ending ......;)

good job I just started a new 13 month one then

Sibley

Right.

This thread was wrong. Interest rates stayed the same and won't be going up for a long time.
Will the OP admit this?

Sibley

Have a look on HPC. You will laugh your socks off.

They are too twisted to even comment on the 0% interest rise.:rotfl:


One of them has given up hoping for a crash and bought a stakeholder pension.

How many pages would their manky thread have had if rates had risen?

They have been beaten down like animals.:rotfl: