100,000 could lose their homes if mortgages rise £20 a month

RenovationMan

Graham_Devon wrote: »

This is the problem with interest rates at such low levels for so long. More people will get dragged down when they eventually do go up. This makes it difficult to put them up, and the vicious circle takes hold, with rates staying low even longer. The longer it goes on, the more painful it will be putting them up and the higher amount of people dragged under.

Are you seriously trying to suggest that low interest rates caused jonnee's problems? Seriously?

• Jonee's son left school and can't get a job - caused by low interest rates?
• Jonee's had 6 months off work caused by a back operation - caused by low interest rates?
• Jonee can only work part time because of cutbacks at work - caused by low interest rates?

Do you think that raising interest rates will do anything to help jonee's circumstances?

Graham_Devon

RenovationMan wrote: »

Are you seriously trying to suggest that low interest rates caused jonnee's problems? Seriously?

Nope.

She states what caused the problems.

At the moment however, many many more are in the same boat, which makes putting up interest rates harder and harder for each month that passes and other increases eat into static wages.

RenovationMan

Graham_Devon wrote: »

Nope.

She states what caused the problems.

Then why did you respond with "This is the problem with interest rates at such low levels for so long"?

Can you describe to me what you feel the 'problem' is with low rates in relation to jonee's post, and others in the same financial position?

Graham_Devon

RenovationMan wrote: »

Then why did you respond with "This is the problem with interest rates at such low levels for so long"?

Can you describe to me what you feel the 'problem' is with low rates in relation to jonee's post, and others in the same financial position?

Shall I just quote what I was responding to, and then you can quit barking?

I`m dreading an increase in the interest rate...it`s not that we can`t afford our mortgage, but with everything else going up we have had to totally restructure how we live....

Pete111

Graham_Devon wrote: »

Which part of "what the..." and "surely this can't be true" is too difficult for you to understand?

You do realise that means I disagree with the article, don't you?

And Stevie, talking of thinking things through, you realise I didn't write the article, don't you?

I don't get this constant need to have a go regardless, apart from you were all so bloody far out on your own predictions and thoughts you just despise articles such as this which are closer to others thoughts.

To be fair to Graham, his incredulity was obvious in the OP

RenovationMan

Graham_Devon wrote: »

Shall I just quote what I was responding to, and then you can quit barking?

Can you respond to this too:

RenovationMan wrote: »

Can you describe to me what you feel the 'problem' is with low rates in relation to jonee's post, and others in the same financial position?

I'm thinking you could also supply what the 'solution' is to your perceived 'problem'.

Out,_Vile_Jelly

Being tipped over the edge by £20 a month does indeed sound ridiculous, but if you ever read threads on the Debt Free board you will be astounded at the parlous state of some people's finances and how incomes are split between rent/mortgage, debt repayment and "other".

grizzly1911

RenovationMan wrote: »

Can you respond to this too:



I'm thinking you could also supply what the 'solution' is to your perceived 'problem'.

Interesting ?? that as interest rates are held down to keep things afloat that those savings are being eroded by inflation on caused in part by devaluation such as food imports, fuel increases and services.

For instance my water bill has just gone up 6% after a period of limited increase

When interest rates go up any breathing room will have been swallowed up by other things. One of the reasons Georgeie boy doesn't want to reduce fuel duty as the fuel companies and commodity brokers are likely to to take up the slack.

For every action there is an equal and opposite reaction linked to the law of unintended consequences.

In reality there is no simple answer as you know.

grizzly1911

Graham_Devon wrote: »

I have no idea.

You decided to take the spot on prediction out of your sig as it was "immature" so I did the same.

Put the hand bags down both of you:)

RenovationMan

grizzly1911 wrote: »

In reality there is no simple answer as you know.

Graham seems to think so - he advocates raising rates because 'people are becoming too dependant on low rates'. However in the face of a 'real life' example of someone who is struggling financially and where low rates are just about helping them to stay afloat, Graham does his usual flimflam act and tries to dodge the question.

The facts are that if we raise rates then the only 'problem' it will solve is that some people will lose their houses and some people, such as Graham, will benefit via cheaper housing.

He doesn't have the courage to admit this though, so we have the squirming.