When will interest rates rise?

chucknorris

Generali wrote: »

If you get a folding bike, get a Brompton. They're the cheapest folding bikes on the market.

The reason such an expensive bike is cheap?

If you buy another one you'll regret it and buy a Brompton in the end. If you go straight to the Brompton you cut out the expensive first step.

I'm not saying the Bromptons are no good (of course they are) but I just don't like that type/style of bike, so I went for a Dahon Espresso because I wanted a full size (26" wheel) folding bike. I've had mine over 3 years now and I am very pleased with it.

I've had a go on my father's Brompton and it is ok for commuting etc. but I don't think it compares when you want a decent work out.


http://www.evanscycles.com/categories/complete-bikes/folding-bikes

DervProf

Anyone got any Warfarin ?

(Not for me, my blood viscosity is fine, as far as I know).

DervProf

Oh the joy of not having to be bothered about interest rates.

It's nice to sit back and watch others fret about the possibility of a base rate rise. Surely Uncle Merv & Co. will continue to nurse the debt junkies, won't they ?

I took my mortgage out @ 7.5%. Within a few years the rate I was paying was around 6%, at which point the mortgage payments were no longer an issue. I then started overpaying, offsetting and generally enjoying the fact that I'd be soon debt free.

How things have changed in the past decade.

I consider myself lucky to have "got out" before the funny money arrived.

ukcarper

RenovationMan wrote: »

I dont think it's silly GD. It's one thing to buy a BTL and let that out to people on a full-time basis, but to buy a house that is only used for an occasional weekend/week away is appalling.

Is it as simple as that a lot of Devon and Cornwall’s economy is based on tourism and a lot of those tourist stay in holiday cottages and flats

lisyloo

but to buy a house that is only used for an occasional weekend/week away is appalling.

Who are you to judge what people should and shouldn't spend their money on??
Personally I would not spend my money on cigarettes, but it's up to individuals what they want to spend their money on.
Whether it's houses, vehicles, clothing. alchohol, drugs, cigarettes etc.

From a purely logical point of view I'd say that it could stack up for some people both as an investment and as the cost of weekend accomodation.

If the government or local authorities do not think this is socially acceptable then they should set their taxation policies accordingly to discourage this kind of activity.
I am personally not against that if it's judged to be in the national/local interest.

ukcarper

RenovationMan wrote: »

Hence why I said that I didnt have a problem with buy to let, because the property is available for others to use. My opposition is when people buy a house that is only utilised infrequently, pricing out the locals and villages become ghost towns in winter.

Holiday lets do nothing to help local people find somewhere to live even though they help the economy. I don’t really know any of the tax implications of owning a holiday cottage and what difference it makes if it is let for some of the time.

lisyloo

t's nice to sit back and watch others fret about the possibility of a base rate rise.

Surely the chance of a rise has receeded.
Both with the GDP figures an also the replacement of Sentance.
I'm also very glad to be getting out of it.
Hope to have enough assets to pay off the mortgage within 12 months (but probably won't if rates are still low).

redbull5

RenovationMan wrote: »

I've seen so many people on the economy board make the claim that they are 'mortgage free', but they never mention how old they are (it's not so impressive to be mortgage free at 65), nor do they say what type of property they have (it's not so impressive to be mortgage free on a studio apartment), they never say when they bought their home (it's not so impressive to be mortgage free on a house they bought for £30k in 1990), finally they never say if they have a family (it's not so impressive to be mortgage free for a middle-aged child-free singleton or couple)

I'm sure that your case is different, so why dont you step up to the mark and let us in on those four vital bits of detail?

well to be honest its none of your business

lisyloo

I've seen so many people on the economy board make the claim that they are 'mortgage free', but they never mention how old they are (it's not so impressive to be mortgage free at 65), nor do they say what type of property they have (it's not so impressive to be mortgage free on a studio apartment), they never say when they bought their home (it's not so impressive to be mortgage free on a house they bought for £30k in 1990), finally they never say if they have a family (it's not so impressive to be mortgage free for a middle-aged child-free singleton or couple)

I'm close to being mortgage free.
But I can assure you that my motivations are a million miles from impressing people and I strongly suspect others are the same.
My motivation is freedom. I have recently turned down an 8 week assignment abroad to be with my family.
But in case your interested - 42, 5 bed, 2003.

Martin says there are 4 motivators for money - love, power, security and freedom.

What on earth makes you think we (as a group) are interested in impressing anyone???
I am certain that most people who've worked hard and lived within their means have much better ambitions that than.
Mine is freedom and security for the rest of my life.

nickj_2

i know several people who are ftb's but are only paying the interest part of the mortgage - with no means , or not being able to afford to pay back the capital , if interest rates do go up , as they surely must then these people are going to be right up the creek