Historic mortgage interest rates

50Twuncle

My first mortgage (£30k) in 1987 cost me over £500 per month for a couple of years - I was sick with worry at the time - I was only bringing in £900 per month !!

Fizzy11

We borrowed £13,000 on an Abbey staff mortgage & as the mortgage repayment was deducted at source every month I received a pay slip showing a negative amount. Prices might seem low in the 70's but so were salaries. Everything is relative.

getmore4less

Fizzy11 wrote: »

We were getting 3-4 wage increases a year in the times of high inflation, came out the other side with inflation reduced debt.

We meaning you getmore4less got 3-4 wage increases. Assume we means public sector. Private certainly didn't.

private sector industrial midlands.

Nebulous2

Fizzy11 wrote: »

We were getting 3-4 wage increases a year in the times of high inflation, came out the other side with inflation reduced debt.

We meaning you getmore4less got 3-4 wage increases. Assume we means public sector. Private certainly didn't.

Public sector certainly didn't, or not the NHS anyway. What tended to happen was fall behind over a few years and then, often because of industrial unrest, get a catch-up award.

Sometimes pay awards were 'staged' which meant the government couldn't afford to pay it all at once, so we got half from April and the rest about 6 months later.

Fizzy11

Getmore4less I really hope that company is still in business.

getmore4less

Fizzy11 wrote: »

Getmore4less I really hope that company is still in business.

Was not the car industry.

Remember we are going back to the 70-80's here.

There was a little blip end of the 80s into the 90s but since then inflation has been low.

Fizzy11

I never mentioned car business. Trust me I know what era we are talking about. We bought houses in 70's 80's & 90's which fortunately for us has made us a lot of money.

I was being genuine & saying I hope a good employer has lasted especially engineering companies who seem to have such a hard time.