How high would base rates have to rise before..

Wheezy_2

10% or higher

On a fix with low LTV till summer '14 with possibility to overpay 10% of balance yearly(which we've been doing).
When we come out of the fix and rates would be +10% then, it wouldn't be funny, but not disastrous.

Heyman_2

10% or higher

I have to agree that it's a bit too simplistic. If rates hit 8% NOW, I'd have to start doing some serious plate spinning but Mortgage/Council Tax would always be the first monies coming out at the end of the month. It would depend over what time period as well - I've got decent reserves to draw on, plus I could look at our current working situation to generate more income if necessary.

Rising to 8% over a prolonged period would be far easier to manage as there would be time to sort things out.

I've gone for 10% plus but even then we could manage it I reckon.

HAMISH_MCTAVISH

10% or higher

Mallotum_X wrote: »

The problems and the repos come from knock on effects.

If the population spend more on interest, they spend less elsewhere. That money spent elsewhere is what pays peoples wages. If that is reduced then layoffs come, layoffs lead to problems and repos.

So some people may end up losing their home after just a 2% increase despite currently feeling safe.

Congratulations.

You've just managed to explain in one post what Graham hasn't managed to understand in the last year of arguing about it.

Graham_Devon

HAMISH_MCTAVISH wrote: »

Congratulations.

You've just managed to explain in one post what Graham hasn't managed to understand in the last year of arguing about it.

No no, I've actually replied to your contradictions on this subject with pretty much the same thing as the poster said.

It was your good self who seems to think that mortgage payers won't have issues paying their mortgages, yet the economy will tank around them.

Please see: http://forums.moneysavingexpert.com/showpost.php?p=41872832&postcount=20

You have a few choices. Pass it off as irrelavant. Ignore it. Accuse me of being Mr Muddle. Or simply run off to another thread and try to accuse me of not understanding something.

Very helpful of you though Hamish. I accused you of contradicting yourself on that thread, and here you are on this thread, totally contradicting what you just said on another!

Mallotum_X

10% or higher

HAMISH_MCTAVISH wrote: »

Congratulations.

You've just managed to explain in one post what Graham hasn't managed to understand in the last year of arguing about it.

You love him really!

lisyloo

10% or higher

If they go to 10% I will have to take drastic action, like only having 1 week in the Maldives every year.

Blimey, I might even have to put my butler on a 3 day week.

bendix

Mortgage free, thank you.

HAMISH_MCTAVISH

10% or higher

Graham_Devon wrote: »

No no, I've actually replied to your contradictions on this subject with pretty much the same thing as the poster said.

And I've now responded in the other thread, to contradict your contradictions where you accused me of contradicting myself.

Hope that's not too contrary for you...;)

abaxas

Remind me what a mortgage is?

Graham_Devon

HAMISH_MCTAVISH wrote: »

And I've now responded in the other thread, to contradict your contradictions where you accused me of contradicting myself.

Hope that's not too contrary for you...;)

Thanks for the response on the other thread.

Trouble is, you have moved from contradicting yourself on that thread, to now contradicting yourself on this thread.

On that thread, you suggest I am correct in what I am saying.

On this thread, you accuse me of not understanding the very thing you have just stated I'm correct about on the other thread.

Oh, this is quite a pickle now, isnt it?

We could wrap it up now if you like....we'll put it down as yet another attempt to try and knock a poster that has yet again, failed miserably. If we don't do that, you could be chasing your tail for quite some time yet in this contradictory circle you appear to have drawn yourself

If you don't mind, I'll store this post, for the next time you try and accuse me of being Mr Muddle, so that we can see just who is trying to muddy the waters

Thanks Hamish. Toodle pip!