Base Rate Remains Unchanged

heathcote123

robmatic wrote: »

That was part of my reasoning when I took it out and I am still happy with the decision I made at the time. It's only hindsight that complicates things!

How long is your fix?

heathcote123

:rotfl:

Cleaver wrote: »

As a mortgage holder I'd prefer a fully functioning economy with 4% base rates than a f*cked economy with 0.5% base rates. But then I think about the bigger picture. Celebrating low base rates simply because you have a mortgage is like celebrating your car being on fire simply because you have some marshmallows that need toasting.

I think it's more like celebrating your neighbours car to be on fire, because you fancy toasting some marshmallows. Your car is fine.

Cleaver

heathcote123 wrote: »

I think it's more like celebrating your neighbours car to be on fire, because you fancy toasting some marshmallows. Your car is fine.

How can the state of our economy possibly be considered none of my concern?

heathcote123

Cleaver wrote: »

How can the state of our economy possibly be considered none of my concern?

If you're making more money than ever?

Cleaver

heathcote123 wrote: »

If you're making more money than ever?

What does this mean?

What I'm saying is that the base rate allows us to save a couple of hundred pounds a month on our mortgage. What is also means is generally across the country millions are unemployed, millions more feel insecure about their jobs and even more don't get the payrises they are used to. My wife is self-employed and relies on her customers to keep afloat - a healthy economy is necessary for this.

So to say again, a couple of hundred quid is small fry in the general scheme of things. When we took a mortgage we made sure we could afford it at 5% and 10%, so it doesn't need to be this low. A healthy economy is more important than me saving a few quid on my mortgage.

Euphoria1z

imagine the day in one and a half years time when no one is really expecting it, a thread titled "base rate finally increases by 0.25%" ...

Cleaver

Euphoria1z wrote: »

imagine the day in one and a half years time when no one is really expecting it, a thread titled "base rate finally increases by 0.25%" ...

I'm really hoping that I've managed to shake the habit of being on this forum by then. But I don't hold out much hope.

mcc100

Turnbull2000 wrote: »

I'm beginning to think we'll still be at 0.5% in five years time, and no more than 1% by 2020. This is gonna be a cheap mortgage bonanza for quite a few people.

The base rate may stay at 0.5%, but as the Eurozone crisis develops the true exposure of UK banks will become apparent and you can be sure that their mortgage rates will increase.

Turnbull2000

mcc100 wrote: »

The base rate may stay at 0.5%, but as the Eurozone crisis develops the true exposure of UK banks will become apparent and you can be sure that their mortgage rates will increase.

Won't be allowed to happen. Cheap mortgages for existing borrowers are an overriding priority for the Tories.

mcc100

Turnbull2000 wrote: »

Won't be allowed to happen. Cheap mortgages for existing borrowers are an overriding priority for the Tories.

The Tories won't have a say in it once the banks are fighting for their lives .....