Savers 'lose' £43bn, Mortgagees 'gain' £51bn.

Really2

Savers have less money when rainy day comes shocker.

IR rates in direct link to state of economy shocker.

Lower IR rates means savings and mortgage rates fall shocker.

As a offset holder getting lower mortgage but a lower savings rate, should I rub my hands like gollum but beat myself with a birch at the same time?

This saver Vs Mortgage holder is very tiresome, as many mortgage holders are savers also.

michaels

Without looking at real terms this analysis is meaningless.

Suppose interest rates were 10% but inflation was 20% - savers would be loosing out big time to borrowers but by this analysis they would never have had it so good. BBC Muppets.

Joe_Bloggs

Savers who fail to find the best rates as subsidising those who can find them. It boils down to saver apathy, ignorance and not using this site.

I am a saver and a mortgage holder. I choose not to beat myself up. It suits me to have a low mortgage and high savings rates.
J_B.
(Mortgage rate 2.5% tracker, best ISA 4.3% fixed the rest 3%)

Really2

Joe_Bloggs wrote: »

I choose not to beat myself up. It suits me to have a low mortgage

Sorry, but in this part of the forums it seems you should beat yourself up as you are stealing from pensioners by holding a mortgage in a recession.

ILW

It all depends on whether it is considered a good thing for the economy as a whole to encourage people to have savings, rather than just relying on the state as soon as their circumstances change. If teh majority had had savings, I believe we could have sailed happily past the credit crunch and just laughed at tye indebted nations.

Thrugelmir

Really2 wrote: »

as you are stealing from pensioners by holding a mortgage in a recession.

seems not.........

There are already almost 250,000 people aged over 65 who are repaying mortgages. Figures disclosed that a further one million home owners approaching retirement had yet to clear their mortgage debts.
Experts said that within five years, the number of pensioners with mortgages would rise to more than one million.

http://www.telegraph.co.uk/finance/personalfinance/borrowing/mortgages/8129472/More-than-a-million-pensioners-will-have-a-mortgage.html

ess0two

Really2 wrote: »

Sorry, but in this part of the forums it seems you should beat yourself up as you are stealing from pensioners by holding a mortgage in a recession.

Surely holding that mortgage you are paying interest for savings products.
Or is the interest conjured up from thin air.

Really2

ess0two wrote: »

Surely holding that mortgage you are paying interest for savings products.
Or is the interest conjured up from thin air.

No,

I have read it on here.

They make up a number to pay pensioners say 5%.

Mortgage holders then sneak in to banks with Groucho Marx type disguises and steal the money from the pensioners.
or something like that

In a Boom though the pensioners do a similar thing, they sneak in and add interest on to a mortgage and steal it.

Blacklight

Yet there are still those STR's that would maintain 'I'm ok, honest guv'

'I'm happy renting and have a fat wedge in the bank which accrues far more interest than my rental cost. I still think prices will dive/crash/plunge/fall off a cliff by at least 50% in nominal terms in the near future.'

Rather you than me.

B_Blank

Blacklight wrote: »

Yet there are still those STR's that would maintain 'I'm ok, honest guv'

'I'm happy renting and have a fat wedge in the bank which accrues far more interest than my rental cost. I still think prices will dive/crash/plunge/fall off a cliff by at least 50% in nominal terms in the near future.'

Rather you than me.

House prices are down 3% in the last year. ANyone with savings probably gets about 2.5% on it. So that makes the house 5.5% more affordable. Not bad.