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Interest rates stay at 0.5% - No additional QE
Comments
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Thrugelmir wrote: »Credit markets are already self regulating. The review by the FSA published last month was partly irrelevant. As many lenders have already exceeded the initial requirements in tightening down.
For now, they have short memories."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
Eellogofusciouhipoppokunu wrote: »As expected.
does this mean your epic interest rate gamble is still paying off?0 -
chewmylegoff wrote: »does this mean your epic interest rate gamble is still paying off?
Thanks chewy, yes, it's going well. As I predicted, rates are still at record lows and those of us who were prepared to take a risk are reaping the benefits. In our case we have reduced the mortgage down to a level that we are more comfortable with (4x my salary) and we are throwing all our disposable income at the renovations.
We're just about to plaster one of the bedrooms with insulating hemp lime plaster after installing a huge amount of (breathable) insulation. We have 100mm of acoustic (and thermal) rockwool between the floor and ceiling joists, 30mm very dense acoustic insulation in the walls and 100mm of insulation built into the external walls.
The effect is amazing, we have no heating in there at all (I have removed the radiator in order to reposition under the window) and the room is a constant and comfortable temperature even during the recent cold snap. The sound quality is amazing as well, a muted and pleasant environment.
With gas and electricity prices going through the roof, we're using our reduced mortgage payments to insulate our house to better than current building regs levels. Once we have finished we will be able to do without gas heating for most of the year, which will keep our gas costs down. We have also installed LED lights everywhere and A++ white goods, and so we're already making savings on our electricity.
The money we'll save on utility bills and the extra value we gain on the house due to the renovations will be far in advance of the savings we could have made on the mortgage costs by having a repayment mortgage. Plus we'll be very comfortable in our lovely home.
It's all working out terribly well. I'm sure everyone on here is as delighted as we are with how well it's all going. 0 -
chucknorris wrote: »Yet another month when I forgot that the decision was today, years ago I would have been paying attention waiting to hear what the decision was.
I know! Likely to stay at 0.5% for a while yet too.0 -
Eellogofusciouhipoppokunu wrote: »We're just about to plaster one of the bedrooms with insulating hemp lime plaster after installing a huge amount of (breathable) insulation. We have 100mm of acoustic (and thermal) rockwool between the floor and ceiling joists, 30mm very dense acoustic insulation in the walls and 100mm of insulation built into the external walls.
It's all working out terribly well. I'm sure everyone on here is as delighted as we are with how well it's all going.
Good for you Eellogo......unu. What you have done sounds very sensible.
This is something very similar to a poster who used to frequent this place, RenoMan. He was a bit of a "big head", though. Kept repeating what he'd done, and how well his plans were going. And I'm sure he was going senile, he was PPRed once, then repeated his mistake, and was never to be seen again. This place has been a lot more pleasant without him.
I do hope your plans continue in a positive manner.30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
Eellogofusciouhipoppokunu wrote: »
We have 100mm of acoustic (and thermal) rockwool between the floor and ceiling joists, 30mm very dense acoustic insulation in the walls and 100mm of insulation built into the external walls.
The sound quality is amazing as well, a muted and pleasant environment.
Be careful your partner doesn't lock you in it."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
Good for you Eellogo......unu. What you have done sounds very sensible.
This is something very similar to a poster who used to frequent this place, RenoMan. He was a bit of a "big head", though. Kept repeating what he'd done, and how well his plans were going. And I'm sure he was going senile, he was PPRed once, then repeated his mistake, and was never to be seen again. This place has been a lot more pleasant without him.
I do hope your plans continue in a positive manner.
Thing is that it turned out that his place was in Oldham though:eek:0 -
nowt wrong with Oldham chuck.Thing is that it turned out that his place was in Oldham though:eek:Have my first business premises (+4th business) 01/11/2017
Quit day job to run 3 businesses 08/02/2017
Started third business 25/06/2016
Son born 13/09/2015
Started a second business 03/08/2013
Officially the owner of my own business since 13/01/20120 -
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