How high would base rates have to rise before..

HAMISH_MCTAVISH

10% or higher

A remarkably small number of people so far (just 1.8%) that would struggle with base rates at less than 4%.

And 70% vote for 10% or above.

Very much not what the bears keep telling us.....

Graham_Devon

HAMISH_MCTAVISH wrote: »

Very much not what the bears keep telling us.....

God damn you are desperate. I mean, we knew that anyway. But this? You are not even trying to hide it anymore. Denial has completely taken over.

Shall I go ask the same question on the bankruptcy board?

HAMISH_MCTAVISH

10% or higher

Graham you're just annoyed because your pet theory that a few minor interest rate rises will cause endless forced sales is wrong.

Graham_Devon

HAMISH_MCTAVISH wrote: »

Graham you're just annoyed because your pet theory that a few minor interest rate rises will cause endless forced sales is wrong.

Well someone send this in depth analysis to the BOE.

And while were at it, can you send it to shelter too? I'm sure they will be interested in your mind blowing statistical research. Maybe you could start your own genuine research company? I'm sure the Express will be interested.

Either you are trying to be a kn*b for the attention, or you have seriously lost it old boy.

I'll go for the first option, as it's unlikely you had it to lose in the first place!

shortchanged_2

HAMISH_MCTAVISH wrote: »

A remarkably small number of people so far (just 1.8%) that would struggle with base rates at less than 4%.

And 70% vote for 10% or above.

Very much not what the bears keep telling us.....

Fair play HAMISH the scientific credibility of these results are just incredible.

It's a damn good job you don't have any VI in rising house prices.

Pobby

No mortgage here. My lad has a 5. somthing% mortgage on, I think, about £150k and it is just under £1,000 a month. His partner works 2 and a half days a week however child care eats that up. He works for a right nut case who keeps threatening to lay him off. They are already worried. He is not sleeping as he knows that locally he would not earn enough to keep himself going. He is a sales rep.

I am blessed without having a mortgage, however it is touch and go, because of illness, wether I can keep my job, have just under 3 years to go until retirement. Both my wife and myself have paid in tons to pensions but annuity rates are so low. My wife is a dedicated carer but of course that comes with a small wage.

We are indeed fortunate to have a small 6 figure sum in the bank. In the day, that would have provided us with enough interest that we would be OK, but right now we get nothing. Well loosing money as inflation gets out of hand.

I go back to my original statement. Brown said he would not let the housing market get out of hand. So how come my place went up nearly 400%? Oh and Hamish, don`t give me the lack of supply rubbish.

I do wonder just how much people earn on here, how safe is their job. The world is changing. 0.5% BOE rate, do me a favour, that`s not just a problem, it`s a cry for help.

DervProf

10% or higher

> 10%.

Offset mortgage. Small amount owing with more than that amount offsetting it, therefore I pay no interest.

In fact, it wouldn't matter how high interest rates went, I haven't paid any interest on my mortgage for more than 5 years.

Gorgeous_George

10% or higher

I don't expect base rates to rise. The master plan from the government requires high inflation and low rates - why else would they have removed the NS&I RPI Tracker products?

If base rates reached 10% my mortgage interest repayments would eat up all of the rental income from my BTLs. On the plus side, my savings would be earning 10.74% tax free (offset tracker mortgage). I'd like to increase rents but these would probably become unaffordable for my tenants so maybe I'd have to take other actions.

The impact on house prices would be huge (with such high base rates) and I'd probably take the opportunity to by another house or two.

Every cloud has a silver lining.

GG

originalmiscellany

10% or higher

Well the comment from people here is right - people on a money saving forum are by nature going to be more engaged in finances and budgeting (as a rule) than other people. It's evident that once a person joins, does the calculations on savings etc, they don't go back to their pre-MSE state. So it's like asking Turkeys if they'd vote for Christmas - we're all aware of interest rates and have been trying to save as much as we can which means we're creating a buffer zone for when mortgages go up. But that said, I'm not here to bash anyone, I have no agenda in what I say

inked

For us it would depend when the rate rises take place, as we have another 7 years fixed rate on our mortgage before going to variable rate.