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Interest rates to stay low until January 2015
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Posts: 398 Forumite
http://www.bbc.co.uk/news/business-22275344
Funding for lending scheme extended from January 2014 to 2015.
Banks don't need our money and therefore do not want to pay us any interest rate that is attractive.
I suppose some fixed deals might disappear or be lowered even further.
Funding for lending scheme extended from January 2014 to 2015.
Banks don't need our money and therefore do not want to pay us any interest rate that is attractive.
I suppose some fixed deals might disappear or be lowered even further.
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Comments
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I think you're being optimistic.
I'd say 2017 until the base rate rises if not longerRemember the saying: if it looks too good to be true it almost certainly is.0 -
I also think that 1 year bonus deals are practically useless if you want cash available for the next few years. Each rate at bonus end will be less than the last. I cannot see all the fixed income voters queuing up for the coalition next election, but then what choice do we really have to get out of this mess?0
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actually its going to be 2020 or later before there is even a glimmer of an increase in rates
fj0 -
Conclusion.. don't bother saving, in fact don't bother working, and then the government will help you out.Save in 2013: #166: 9,122.51/[STRIKE]5,000[/STRIKE] 10,000Interest earned in 2014: £257.61 20/04/140
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RoxRoxBling wrote: »Conclusion.. don't bother saving, in fact don't bother working, and then the government will help you out.
humour? (i hope)0 -
A great window of opportunity to overpay on the mortgage then, whilst the going is good. Then when the rise does kick in, it'll be less of a surprise!Mortgage at end 05/2007: £90200
Mortgage at end 08/2018: £71646 paid £18354 (20.5%)
MFD: :eek:Original:05/2042:eek:
Car Finance: £8225 : £6392 (22.2% paid off)
CC Debt (0% until 06/2020): £5640 : £4400 (21.7% paid off)
Age of Money at 31/08/2018 = 23 days
YNAB is changing the way I live my life....and spend my money!!0
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