Interest rates will rise faster and higher than anyone expects

chucky

DervProf wrote: »

I await your genuis response that will somehow explain this.

you want me to explain that you can get at least 3% on a savings account and people on low rate mortgages switch to I/O to earn interest on the repayments they're not making...

it's quite simple to understand really. it's not the first time you've struggled to understand the concept of mortgages, interest only and capital repayments...

DervProf wrote: »

It's you who is the no brainer, chucky.

i like the tone of your post because you're trying quite hard to be insulting but when it's given back to you, you scuttle away with your tail between your legs like the lonely little beach that you are.

Graham_Devon

Any proof? No?

chucky

Graham_Devon wrote: »

Any proof? No?

of what? savings accounts?

Graham_Devon

chucky wrote: »

of what? savings accounts?

No. Of what I asked you for.

I'm suggesting you ARE making this up, and that you have no reference to this in terms of being a large factor for the rise in IO's.

So do you have a reference, or proof, or not? Simple yes with the reference or a simple no will suffice.

chucky

Graham_Devon wrote: »

No. Of what I asked you for.



So do you have a reference, or proof, or not? Simple yes with the reference or a simple no will suffice.

it's pretty obvious i know of a number of people on here that have done it and many do it, you want a source - let google be your friend but then again you obviously don't realise or understand the concept of offsetting.

it's not a surprise seeing that your personal and your families financial situation is a complete fork up.

Graham_Devon

Right, so no proof.

Just more insults, now including my family. Nice.

All you had to do is say "no, I have no proof". Fair enough. But I'd suggest if you have no proof of what you are actually saying, to dispute real facts, you need to state "in my opinion".

DervProf

chucky wrote: »

you want me to explain that you can get at least 3% on a savings account and people on low rate mortgages switch to I/O to earn interest on the repayments they're not making...

it's quite simple to understand really. it's not the first time you've struggled to understand the concept of mortgages, interest only and capital repayments...

Unless someone is on a well below average mortgage rate, and can get a savings account that pays above 3%(net), then it is hardly worthwhile switching to IO.

Again, I do know a bit about mortgages, IO etc, and I can't believe that there have been that many people who have switched to IO, simply to earn more on their savings that they are paying on their mortgages. You obviously don't believe that many people have switched to IO because of financial difficulties, and want us to think that they did it because they will gain by keeping their money in savings accounts.

I wonder who's idea sounds more plausible, mine or yours ?

I had an offset mortgage, and I know very well how it works, and what financial advantage can be gained from it. However, it isn't for everyone, as size of mortgage/income/savings/outgoings have to be considered to see if offsetting will work.

DervProf

chucky wrote: »

i like the tone of your post because you're trying quite hard to be insulting but when it's given back to you, you scuttle away with your tail between your legs like the lonely little beach that you are.

I try to debate and reason with someone of differing views, rather than use insults. Yes, I do sometimes use them, but it's usually a little bit more subtle than just calling someone thick, lonely, or a moron.

chucky

DervProf wrote: »

I try to debate and reason with someone of differing views, rather than use insults. Yes, I do sometimes use them, but it's usually a little bit more subtle than just calling someone thick, lonely, or a moron.

shame that you do, when it's given back you welch like beach like you're doing now.

either do it or don't but don't cry off you lonely little man when you do it. jog on now dervprof, be a good little man.

chucky

DervProf wrote: »

Again, I do know a bit about mortgages

after the way you pursue renovation man around the forum trying to prove to him yiu do understand we knoiw the answer to that one don't we...

DervProf wrote: »

I wonder who's idea sounds more plausible, mine or yours ?

obviously yours, these two numpties have thanked your post :T

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