lui Posted March 5, 2009 Share Posted March 5, 2009 Interest rates now at all time low but for how long ??? I'm really happy at present with interest rates being at 0.5% now is saving me hundreds each month compared to this time last year being on a tracker mortgage, but just wondered how long will this last before things start to go up again any idea's ??? Hopefully not for a long time Quote Link to comment Share on other sites More sharing options...
Pixelfill Posted March 6, 2009 Share Posted March 6, 2009 I really regret my fixed rate mortgage now Quote Link to comment Share on other sites More sharing options...
Lbm Posted March 6, 2009 Share Posted March 6, 2009 Interest rates now at all time low but for how long ??? I'm really happy at present with interest rates being at 0.5% now is saving me hundreds each month compared to this time last year being on a tracker mortgage, but just wondered how long will this last before things start to go up again any idea's ??? Hopefully not for a long time The honest answer is nobody knows I really regret my fixed rate mortgage now Continuing on with my no-one knows answer, don't be to peed off. In the end, over 25 years, a fixed rate will stack up quite nicely against a tracker- Plus you always know where you stand, month to month Quote Link to comment Share on other sites More sharing options...
Snooze Posted March 6, 2009 Share Posted March 6, 2009 Interest rates now at all time low but for how long ??? I'm really happy at present with interest rates being at 0.5% now is saving me hundreds each month compared to this time last year being on a tracker mortgage, but just wondered how long will this last before things start to go up again any idea's ??? Hopefully not for a long time Hard to say - Japan went for about 20 years with 0% interest to help them out of their recession, didn't they? But it only really helps those that are on lifetime trackers, because the limited-term tracker will mostly expire within the next 3 years or so, and it's not like lenders are going to be offering new low-rate tracker mortgates! Quote Link to comment Share on other sites More sharing options...
Havard Posted March 6, 2009 Share Posted March 6, 2009 This is beginning to pi55 me off to be honest. I am looking for a decent savings account and none of them are worth having..... H. Quote Link to comment Share on other sites More sharing options...
Scoboblio Posted March 6, 2009 Share Posted March 6, 2009 This is beginning to pi55 me off to be honest. I am looking for a decent savings account and none of them are worth having..... We're trying to save for a house deposit and the amount of interest we'll earn on ISAs has gone from hundreds, to nearly nothing. Two years cash allowance in an ISA (£7,200 IIRC), will give you £32 interest a year. Quote Link to comment Share on other sites More sharing options...
Snooze Posted March 6, 2009 Share Posted March 6, 2009 Have to spread your money around, but there are some okay deals out there. I opened a Barclays savings account a couple of months ago which pays 6% AER (max £250/month deposit for max 12 months) - works out better than overpaying on my mortgage at the moment! Quote Link to comment Share on other sites More sharing options...
colsoop Posted March 6, 2009 Share Posted March 6, 2009 Hopefully not too much longer. I have lost £120 a month in interest . Quote Link to comment Share on other sites More sharing options...
SteveR Posted March 6, 2009 Share Posted March 6, 2009 They are 'printing money' as predicted months ago. Going on past performance they will cock that up, it'll get into wages ultimately and then we'll have massive inflation. £1000 for a loaf of bread here we come. Quote Link to comment Share on other sites More sharing options...
ManwithSupra Posted March 6, 2009 Share Posted March 6, 2009 Now they are printing more money just wait to see our already awful $ rate tumble. Although if you are loosing your intrest on savings and are ending up with more "spare" money through less intrest on your mortgage then why dont you put the difference from what your payments were on your mortgage (when intrest was high) and now (low intrest) back in onto your savings account surely thats better than nothing It could end up being more than what you would of had in intrest on your savings anyway. Turning a good/bad siutation into a good/better situation. Quote Link to comment Share on other sites More sharing options...
juanchan Posted March 6, 2009 Share Posted March 6, 2009 I wish my mortgage wasn't a fixed interest rate atm, but at least I know what I owe each and every month. As for savings, what are those again?! Quote Link to comment Share on other sites More sharing options...
snake Posted March 6, 2009 Share Posted March 6, 2009 if inflation goes up as a result of printing more money, it will negate any money you make on savings . Quote Link to comment Share on other sites More sharing options...
AlexJames Posted March 6, 2009 Share Posted March 6, 2009 ... I just brought a 2 bed flat.. so im interested to learn from this thread Quote Link to comment Share on other sites More sharing options...
tbourner Posted March 6, 2009 Share Posted March 6, 2009 So can you get really low rate loans at the moment? Maybe I should apply for one to pay off all my current loans. Quote Link to comment Share on other sites More sharing options...
ManwithSupra Posted March 6, 2009 Share Posted March 6, 2009 So can you get really low rate loans at the moment? Maybe I should apply for one to pay off all my current loans. No unsecured loans are still quite high... around 7%+ Not 100% sure on loans against property... Quote Link to comment Share on other sites More sharing options...
michael Posted March 6, 2009 Share Posted March 6, 2009 Tesco - £1.01 for a 500ml bottle of refreshing liquid beverage (Fanta, Coke, Sprite etc) - this country has gone to the dogs. Or something. Quote Link to comment Share on other sites More sharing options...
penguin Posted March 6, 2009 Share Posted March 6, 2009 They are 'printing money' as predicted months ago. Going on past performance they will cock that up, it'll get into wages ultimately and then we'll have massive inflation. £1000 for a loaf of bread here we come. on the plus side, i've got a nice pad back in the homeland and plenty of land to live off Quote Link to comment Share on other sites More sharing options...
Havard Posted March 6, 2009 Share Posted March 6, 2009 Have to spread your money around, but there are some okay deals out there. I opened a Barclays savings account a couple of months ago which pays 6% AER (max £250/month deposit for max 12 months) - works out better than overpaying on my mortgage at the moment! That sounds very good. I may have a look at that. I want to put a lot of money away this year but leaving it in my current account seems to be as good as any...... Are you tied in after the 12 months at all?? H. Quote Link to comment Share on other sites More sharing options...
Guest TALLARDONISLIAR Posted March 17, 2009 Share Posted March 17, 2009 The interest rates on personal loans is still quite high !! Abbey are offering a 2 year fixed rate mortgage at 4.49% and all expenses paid ie. valuation/legal etc, also a 5 year fixed rate at 4.99% all expenses paid !! but i am sure there are better deals than that around, also the base rate will hit zero soon so better waiting for that !! Soon the Government will be forced to put pressure on financial institutions to give better deals to stimulate the econ !! some institutions are slowly becoming nationalised so they will be the first to show their hand !! it will be when zero is hit !! the next couple of months after that will be a good time to shop around if mortgage hunting !! its all a gamble !! but some are better calculated than others !! fixed gives you peace of mind for the duration of that fixed term, but you may feel cheated if you are paying more than this low spell if it continues and if it goes on for a long time !! do you see everything suddenly getting better !? and quickly !! only then will the base rate rise !! one thing is to make sure you get your mortgage linked to the "Bank of England Base rate" and not Libor !! that is the rate the banks lend to each other and is higher !! some Mortgage companies are muddying the water on these rates !! be aware what you are getting !! also others who have trackers check you are not being tracked on Libor if you have Bank of England trackers !! check the documents you originally signed !! All the best everyone !! have fun !! Quote Link to comment Share on other sites More sharing options...
n boost Posted March 17, 2009 Share Posted March 17, 2009 Take a breath dude! lol! Quote Link to comment Share on other sites More sharing options...
The Raven Posted March 17, 2009 Share Posted March 17, 2009 Rates will stay low till the country sorts itself out. Then watch them pick up, they will want the money back sooner or later. I for one am quids in right now, i was paying 2% over base on a rental house. Im now paying back less than half what i was. Quote Link to comment Share on other sites More sharing options...
nickball75 Posted March 17, 2009 Share Posted March 17, 2009 Lovin the rate cuts too. remortgaged october 07 on a promotional tracker. Finishes in november, but as a result, my mortgage is £18.87, just had the letter through lsat night! Quote Link to comment Share on other sites More sharing options...
AndrewOW Posted March 17, 2009 Share Posted March 17, 2009 Lovin the rate cuts too. remortgaged october 07 on a promotional tracker. Finishes in november, but as a result, my mortgage is £18.87, just had the letter through lsat night! £18.87? What did you buy, a doll's house?! Quote Link to comment Share on other sites More sharing options...
Snooze Posted March 17, 2009 Share Posted March 17, 2009 I'm guessing that's an interest only loan. Oh - and H - apart from the 12 monthly payments, there's no tie in on the Barclays account at all. You can even withdraw within the 12 months, I believe - but you lose the interest if you do. Quote Link to comment Share on other sites More sharing options...
tbourner Posted March 17, 2009 Share Posted March 17, 2009 We've got 2 years left on our fixed, still paying £831 a month, equity at about 70% of the mortgage value as well so we can't remortgage. Anyone got any part time jobs going? Quote Link to comment Share on other sites More sharing options...
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