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Interest Rates
Sibley
Posts: 1,557 Forumite
OMG...
Just seen on the news.
Interest rates are probably staying at this level until 2021 and may even.....FALL....:beer::j
Think that will see me over the finishing line.
TBH..Never dreamed it would stay low like this. What a bonus.
Just seen on the news.
Interest rates are probably staying at this level until 2021 and may even.....FALL....:beer::j
Think that will see me over the finishing line.
TBH..Never dreamed it would stay low like this. What a bonus.
We love Sarah O Grady
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Comments
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OMG...
Just seen on the news.
Interest rates are probably staying at this level until 2021 and may even.....FALL....:beer::j
Think that will see me over the finishing line.
TBH..Never dreamed it would stay low like this. What a bonus.
Back in 2009, I hoped for 3 years of the base rate at 0.5%, so everything else is just a bonus for me.Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop0 -
The cuts in interest rates have allowed me to halve my mortgage term. Less than a decade now to go.0
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I have been saying for a while that I don't think we're even half way through the era of ultra low rates yet.
Rates this cheap are a powerful form of crash insurance. At these levels, you pay the principal off so fast that over any sensible horizon your equity will exceed the extent of any price correction.0 -
Hearty congratulations to all the over leveraged, heavily indebted, financially incompetent buffoons... you've won.0
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iantojones40 wrote: »Hearty congratulations to all the over leveraged, heavily indebted, financially incompetent buffoons... you've won.
You don't have to be over leveraged to benefit from a lower base rate, our mortgages are only about 13% of our property value. But so far we have paid about £250k less in mortgage payments due to a lower base rate (compared to say a base rate of about 5.5%), and of course it looks like there are a few more years of low rates to come too. I certainly don't consider myself to be a financially incompetent buffoon, our properties were very profitable when the base rate was higher, this is merely a bonus.Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop0 -
iantojones40 wrote: »Hearty congratulations to all the over leveraged, heavily indebted, financially incompetent buffoons... you've won.
Thanks. I sometimes have to pinch myself.0 -
iantojones40 wrote: »Hearty congratulations to all the over leveraged, heavily indebted, financially incompetent buffoons... you've won.
"Real knowledge is to know the extent of one's ignorance" - Confucius0 -
chucknorris wrote: »You don't have to be over leveraged to benefit from a lower base rate, our mortgages are only about 13% of our property value. But so far we have paid about £250k less in mortgage payments due to a lower base rate (compared to say a base rate of about 5.5%), and of course it looks like there are a few more years of low rates to come too. I certainly don't consider myself to be a financially incompetent buffoon, our properties were very profitable when the base rate was higher, this is merely a bonus.
It's how I look at it. Just a bonus to be taken advantage of whilst it exists.
I still can't believe it's going on. Rates were already on the way down from when I was paying >7% but I reckon the GFC gifted me a 3% saving on the mortgage of my holiday place which, even on a modest amount of debt is worth well over £300/ month.
That's just the icing on the cake because the place I bought was off a slightly distressed seller who had seen their (even more distressed) buyer withdrawing because they couldn't raise the higher deposit requirement so got a great price.
Updated the South-West retirement plans this morning and I can sell up and move to a nice big house in a nice area and be mortgage free should we wish.
In no small part that's down to buying into a correction (when the HPC crew were sat on their hands and complaining about deluded sellers) and a contribution of thousands from low interest rates.0 -
OMG...
Just seen on the news.
Interest rates are probably staying at this level until 2021 and may even.....FALL....:beer::j
Think that will see me over the finishing line.
TBH..Never dreamed it would stay low like this. What a bonus.
He isn't on the MPC anymore, so his views are only that.0 -
I haven't had a Mortgage (or any other type of Loan) since I paid mine off in 1996, and I've still won as well.'In nature, there are neither rewards nor punishments - there are Consequences.'0
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