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    Base rate

    Posted by The Outsider on 4/8/2022, 12:23:31

    As expected, up by 0.5 per cent.

      Re: Base rate

      Posted by Ches Fordroad on 4/8/2022, 13:10:44, in reply to "Base rate"

      Passed on to borrowers, in full, already.

      Savers ..... well, maybe we'll give you an extra 0.1%, but only as and when we can be arsed, which won't be any time soon.

        Re: Base rate

        Posted by J in C not the imposter on 4/8/2022, 14:00:19, in reply to "Re: Base rate"

        I have fixed rate till next year then I expect to get hammered, now I'm thinking who was the last 15% interest rate government


        Tories wasn't it

        Re: Base rate

        Posted by al on 4/8/2022, 12:54:40, in reply to "Base rate"

        Dont care havent got a mortgage paid years ago.

          Re: Base rate

          Posted by Jack on 4/8/2022, 12:56:30, in reply to "Re: Base rate"

          I'm alright.


            Re: Base rate

            Posted by T0sser on 4/8/2022, 13:44:16, in reply to "Re: Base rate"

            Just after I took my mortgage out interest rates rose to 15% and for the majority of my mortgage term the remained over 5%. The last 13 years the cost of borrowing has been incredibly low and with a base rate of 1.75% it is still low.

            Now I have savings I am getting sod all back on them and my money is losing value so forgive me if I don't have any sympathy.

              Re: Base rate

              Posted by TPDC on 4/8/2022, 18:02:47, in reply to "Re: Base rate"

              Fck investment savings with banks. They are a complete rip off. Whack up borrowing rates but virtually nothing for savings. I have no time for any of them and only use them because I need to but I absolutely despise them.

                Re: Base rate

                Posted by Mahatma Gander on 4/8/2022, 13:45:55, in reply to "Re: Base rate"

                What were house prices like for your mortgage though? Especially when compared to wages.

                  Re: Base rate

                  Posted by The Orange Salopian on 4/8/2022, 14:25:55, in reply to "Re: Base rate"

                  High enough that we could not afford to buy in the area we grew up in and had to move to Luton.

                  We only had the 13,000 deposit we needed to buy a 1 bed apartment in Luton due to the death of my dad. The apartment was 55,000, I was earning less than 8,000 and my wife as a newly qualified nurse was earning around 6,000.

                    Re: Base rate

                    Posted by Mahatma Gander on 4/8/2022, 15:13:22, in reply to "Re: Base rate"

                    Not saying it was easy but many young couples, even with a deposit, can't get close to the three times joint salary that you were looking at.

                    That sounds like quite a 1 bed place though for 55k judging by the salaries. When was that?

                    (I'm guessing that it wasn't exactly a palace from your post!)

                      Re: Base rate

                      Posted by The Orange Salopian on 4/8/2022, 17:02:31, in reply to "Re: Base rate"

                      1988,it was a new build on Ashcroft Road. We then sold at a big loss when the wife was pregnant and the property market collapsed. If it wasn't for family support then we would have crashed and burned.

                        Re: Base rate

                        Posted by Mahatma Gander on 4/8/2022, 17:21:41, in reply to "Re: Base rate"

                        Makes sense, I first bought some time later.

                        I knew a few people who bought around then who really struggled badly later on.

                          Re: Base rate

                          Posted by TPDC on 4/8/2022, 17:59:52, in reply to "Re: Base rate"

                          Property will always be the best long term investment for the next couple of decades at least though.

                            Re: Base rate

                            Posted by Mahatma Gander on 4/8/2022, 18:46:46, in reply to "Re: Base rate"

                            It has somehow kept going up and up for a long time even when logic suggested it would struggle!

                              Re: Base rate

                              Posted by Nearly a Genius on 4/8/2022, 18:08:12, in reply to "Re: Base rate"

                              What happened to people buying a house to live in?

                              Plus, generally speaking, the "value" of the property may rise, but if the owner sells it to buy another, that one has also risen in "value", so there's no real benefit.

                                Re: Base rate

                                Posted by The Orange Salopian on 4/8/2022, 19:03:45, in reply to "Re: Base rate"

                                Until you downsize.

              Re: Base rate

              Posted by EastEnder on 4/8/2022, 12:26:19, in reply to "Base rate"

              Highest since pre-2008 crash, I think?

                Re: Base rate

                Posted by Good on 4/8/2022, 12:32:42, in reply to "Re: Base rate"

                About time too.

                  Re: Base rate

                  Posted by EastEnder on 4/8/2022, 12:35:23, in reply to "Re: Base rate"

                  Yep it's a great hedge against the coming 15 per cent inflation.

                  We will all be loads better off.

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