Rates.... wil they wont they?

poppy10_2

Running_Horse wrote: »

Don't try to stifle debate with your lazy assumptions. The Times leader yesterday called for a cut, so not everybody agrees with you.

As for interest rates. A cut means my overpayments rise. A rise means my mortgage will be paid off a few months later. Life goes on as normal in the RH household.

Shrugs shoulders and makes a cup of coffee.

A cut means that inflation soars. More and more of your hard-earned money goes on paying soaring food, energy and petrol prices.
Coffee, milk and sugar also go up, due to the fall in the value of the pound. You can only afford half a cup of coffee.

You can still shrug your shoulders all you like, though. :j

dave76

jawa1 wrote: »

Only the base rate has been cut, not the rate that the BOE lends to banks for mortgages, so mortgage rate will stay the same.

but halifax and nationwide have responded with cuts in their rates?

free4440273

^Halifax certainly have by .25%.

Anon

jawa1 wrote: »

Only the base rate has been cut, not the rate that the BOE lends to banks for mortgages, so mortgage rate will stay the same.

Is that correct? (not that I am doubting you!) - signed up to a fixed rate mortgage 5.63% for 5 years and haven't exchanged yet, just musing whether Nationwide would be dropping their Fixed rate in the next week or so and therefore an opporutnity to get a cheaper rate before completion ... (yes, I know I would have to pay the £499 fee again!).

Anon

danm

poppy10 wrote: »

A cut means that inflation soars. More and more of your hard-earned money goes on paying soaring food, energy and petrol prices.
Coffee, milk and sugar also go up, due to the fall in the value of the pound. You can only afford half a cup of coffee.

You can still shrug your shoulders all you like, though. :j

although better than not being able to afford coffee as you are made redundant

ruggedtoast

Anon wrote: »

Is that correct? (not that I am doubting you!) - signed up to a fixed rate mortgage 5.63% for 5 years and haven't exchanged yet, just musing whether Nationwide would be dropping their Fixed rate in the next week or so and therefore an opporutnity to get a cheaper rate before completion ... (yes, I know I would have to pay the £499 fee again!).

Anon

If you have a mortgage which is guaranteed to track the base rate then you'll see a fall. Otherwise you'll be relying on the LIBOR to go down as well, and theres no sign that that will happen next.

Inflation will continue to go up, the value of the pound will continue to fall. I doubt its going to make much difference to house prices either way.

kennyboy66_2

poppy10 wrote: »

A cut means that inflation soars.

No it won't - it will make a small difference to the £ / $ rate, which is arguably over valued anyway due to the dollars weakness.

If the markets believe the UK is heading for a recession, the pound will fall anyway as interest rate cuts become inevitable.

Running_Horse

dannyboycey wrote: »

OK, for the benefit of RH, edit to read "Everybody with a degree of intelligence".

Your post illustrates a definite misunderstanding of the bigger picture.

If you had a degree of intelligence you would not assume everybody agrees with you before even listening to their views.

If you had a degree of intelligence you would not insult anybody who does not follow you like a sheep. You don't even put forward an argument to support your views.

Cretin.

Running_Horse

poppy10 wrote: »

A cut means that inflation soars. More and more of your hard-earned money goes on paying soaring food, energy and petrol prices.
Coffee, milk and sugar also go up, due to the fall in the value of the pound. You can only afford half a cup of coffee.

You can still shrug your shoulders all you like, though. :j

Great. Inflation soars. My company gives me a pay rise. My mortgage overpayments have even more effect. Long term, my mortgage is a smaller percentage of my income.

Thank you for telling me what I can post.

MidTwentySomthing

free4440273 wrote: »

^Halifax certainly have by .25%.

Don't think that £16 on every 100,000 worth of mortgage debt will be much comfort the peeps coming off thier fixed rate in Jan/Feb.

Especially when food and transport are likely to go up by more than that £16 per month.

Ya takes it off, and put it back on somewhere else.

A bit like my diet.