Havard Posted January 11, 2007 Share Posted January 11, 2007 Interest rates have gone up again!! http://news.bbc.co.uk/1/hi/business/6251963.stm Not good for people vith variable loans or huge mortgages. Thankfully I'm ok though, don't have any loans and my mortgage is fixed until the end of it's term... H. Quote Link to comment Share on other sites More sharing options...
Lucifer Posted January 11, 2007 Share Posted January 11, 2007 Ahh bollox Quote Link to comment Share on other sites More sharing options...
Havard Posted January 11, 2007 Author Share Posted January 11, 2007 Take it that it's not good news then? H. Quote Link to comment Share on other sites More sharing options...
penguin Posted January 11, 2007 Share Posted January 11, 2007 oh muwafkers Quote Link to comment Share on other sites More sharing options...
tbourner Posted January 11, 2007 Share Posted January 11, 2007 Time to sell the house and open a savings account then. Quote Link to comment Share on other sites More sharing options...
penguin Posted January 11, 2007 Share Posted January 11, 2007 Time to sell the house and open a savings account then. or get a savings account that tied in with your mortgage Quote Link to comment Share on other sites More sharing options...
Mike Posted January 11, 2007 Share Posted January 11, 2007 or stop using earth pounds. Quote Link to comment Share on other sites More sharing options...
Chris Wilson Posted January 11, 2007 Share Posted January 11, 2007 About time, too! We savers get sod all return these days. Quote Link to comment Share on other sites More sharing options...
DaveK Posted January 11, 2007 Share Posted January 11, 2007 Not good for people who've just put their second house on the market either! Quote Link to comment Share on other sites More sharing options...
Havard Posted January 11, 2007 Author Share Posted January 11, 2007 We really want to move to a bigger house with a garage for my Supe but i'm fooked if i'm taking on a new mortgage with all this sh1t going on!! I'll just sit here until the rates start going backwards again. How far will it go though?? 8%? 10%? H. Quote Link to comment Share on other sites More sharing options...
Alex Posted January 11, 2007 Share Posted January 11, 2007 Not good for people who've just put their second house on the market either! 2nd house...FFS have a thought about the people trying to get on the market. People with 2 houses can get knotted! Quote Link to comment Share on other sites More sharing options...
Pete Posted January 11, 2007 Share Posted January 11, 2007 Arse. At least we're thinking of moving anyway so can renegotiate the mortgage. Quote Link to comment Share on other sites More sharing options...
Charlotte Posted January 11, 2007 Share Posted January 11, 2007 Not too bad, could've been worse. Quote Link to comment Share on other sites More sharing options...
sdavies Posted January 11, 2007 Share Posted January 11, 2007 Almost makes me happy my house purchase fell through... almost... Guess I will be staying put for now Quote Link to comment Share on other sites More sharing options...
supraman382 Posted January 11, 2007 Share Posted January 11, 2007 Its set to go up at least once more to 5.5% then back onto a down cycle! Certainly wont go up to 8% again. Hang in their, all will be well Quote Link to comment Share on other sites More sharing options...
iain2010 Posted January 11, 2007 Share Posted January 11, 2007 What a bugger! Quote Link to comment Share on other sites More sharing options...
Whitesupraboy2 Posted January 11, 2007 Share Posted January 11, 2007 heres a young person's quesion, how often does the bank of england change interest rates? also whats the highest its been and the lowest? Quote Link to comment Share on other sites More sharing options...
Wez Posted January 11, 2007 Share Posted January 11, 2007 Not good, i was advised variable worked out cheaper as rates dont change much, arse feck arse Quote Link to comment Share on other sites More sharing options...
Thorin Posted January 11, 2007 Share Posted January 11, 2007 Not good, i was advised variable worked out cheaper as rates dont change much, arse feck arse I wasn't sure but I'm glad we went fixed now! Got 2 and a half years left before the end of the fixed term, hope it comes down again! Quote Link to comment Share on other sites More sharing options...
Bobbeh Posted January 11, 2007 Share Posted January 11, 2007 2nd house...FFS have a thought about the people trying to get on the market. People with 2 houses can get knotted! Agreed. Greedy fuckers. Quote Link to comment Share on other sites More sharing options...
Todd Posted January 11, 2007 Share Posted January 11, 2007 Not good, i was advised variable worked out cheaper as rates dont change much, arse feck arse Now that's bad advice, who told you that? Quote Link to comment Share on other sites More sharing options...
michael Posted January 11, 2007 Share Posted January 11, 2007 I wasn't sure but I'm glad we went fixed now! Got 2 and a half years left before the end of the fixed term, hope it comes down again! That just makes the transition from the rate now to the rate then even scarier Going up .25% now and again is easier to budget for that a jump of 4% all at once Quote Link to comment Share on other sites More sharing options...
Thorin Posted January 11, 2007 Share Posted January 11, 2007 That just makes the transition from the rate now to the rate then even scarier Going up .25% now and again is easier to budget for that a jump of 4% all at once Bah shut it you, much easier when you're renting! Quote Link to comment Share on other sites More sharing options...
penguin Posted January 11, 2007 Share Posted January 11, 2007 for all you er.... "experienced" forum members, as per wsb's comment earlier - how often does the bank of england change interest rates? also whats the highest its been and the lowest? Quote Link to comment Share on other sites More sharing options...
Havard Posted January 11, 2007 Author Share Posted January 11, 2007 heres a young person's quesion, how often does the bank of england change interest rates? also whats the highest its been and the lowest? The bank of England will change interest rates to try to balance up inflation, the spending and borrowing of the country so there is no set time for it. They just see that things are getting a little out of hand and take measures to calm things down a bit. This always causes winners and losers. Problem is that whilst it's good to have savings whilst interest rates rise it is hard on people who have borrowed money without protection of a fixed rate. Especially mortgages because there are massive amounts of money involved. Someone will correct me but I thought it got down to about 4% a couple of years ago so everybody bought houses because the loan was cheap!! It is now 5.25%. In the past ie late 80's and 90's it went fooking mad and lots of people lost their houses because they couldn't afford the loan they'd agreed when interest rates were low. I think it got near 15% although that should never happen again! Someone please correct me if i'm wrong about the above. H. Quote Link to comment Share on other sites More sharing options...
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