3's fixed at 4.49625% today.
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I HATE banks
- Thread starter Teki187
- Start date
Soldato
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- 13 Oct 2004
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- Teesside
Original is okay, but the Bitter isn't for me..
Associate
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- 30 Jul 2007
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- Surrey
Its called the economy. They do what they must to survive otherwise you LOSE your money.
all depends on the % for me.
I'm flogging a dead horse here, but a few important points at a critical time in the UK's history...
2) Because we in the UK insist on buying new TVs every month (or at least video cardsinstead of saving significant amounts (~10% of salary), banks have to go abroad to borrow money.
There used to be millions of Asians prepared to save hard so their banks could lend to us so we could get cheap mortgages. THOSE DAYS ARE GONE. History, finito, kaput, gorn, shuffled off this mortal coil. They are ex-lenders, and no amount of nailing them to the financial perch will encourage them to throw good money after bad. Their own economic outlook as exporters is now gloomy so they're hardly likely to be willing to lend their reserves to our banks, to lend to us, to prop up our stupidly high house prices.
3) Most financial pundits and politicians are currently hiding the harsh truth from you, because that's their job...
For me the situation was typified by that woman on BBC news last night. What did she say? Something like 'we have a right to those cuts'. Something similar anyway. We have a right to absolutely nothing. Borrowed money is on the banks' terms, not ours, and certainly not the governments. If the banks can't afford the cuts, then they simply won't happen. And even if they do, that just leaves the banks weaker, instead of stronger. That makes more taxpayer injections even more likely, so we'll end up paying more whether its in our mortgage payments now or our tax bills for the next twenty years.
These are very difficult times. But crying over the spilt milk will not clean it up.
Andrew McP
They need you too spend, they need you too borrow the government does not care about you but cares about the economy and doesnt care how it props up the economy.
Our economy is base on house prices, pretty said but true, savers are being hit, and borrowers arnt, the prudent and wise are being taken for a ride while the irresponsible and weak given a get out of jail free card on the account of many people blow their monthly pay packet.
House prices are so over valued that one of 2 things must happen, either they drop by 50% or your wages rise by 50%.
Just sums up new labour.
Soldato
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look i didnt read most of the thread, but your unlikley to get full benefit unless your on a full variable, or a tracker.
most poeple are on fixed mortages, so its not going to have much impact.
what it will impact is small business loans and Libor, which have seen rates decress recently.
most poeple are on fixed mortages, so its not going to have much impact.
what it will impact is small business loans and Libor, which have seen rates decress recently.
Associate
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- 21 Nov 2007
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- Fleet, Hampshire
you are certainly in a minorty, but with real interest rates on savings only just positive, there is a reasonable argument against doing this.
If I spend with credit cards instead of cash, it means I can have the money sitting in a savings account for an extra 50days or whatever after I've bought my things. And I get other benefits from the cards.
also, why save if money in the bank is gonna go up at lower than inflation, you might as well spend/invest anything you have.
Lol right wing Labour.. more conservative than the Conservatives!
Pity that Lib Dems don't have any teeth in this area.
Associate
- Joined
- 27 Jan 2007
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- 465
This all means nothing... what we really want to see is a credit card with a transformers hologram!
I wont be happy with the banking market until this comes to fruition! I'm writing to Mr Darling now!
Fight the power!
I wont be happy with the banking market until this comes to fruition! I'm writing to Mr Darling now!
Fight the power!
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Hate my bank because, the aren't open on Saturdays.
My bank also seemed to have lost the forms I filled in for an International Wire-Transfer over a week ago :/
They say they can't even track it.
Absolutely useless. Even then a Wire-Transfer takes over a week and if you want to have it done in maybe a week, they charge you 25 euro
My bank also seemed to have lost the forms I filled in for an International Wire-Transfer over a week ago :/
They say they can't even track it.
Absolutely useless. Even then a Wire-Transfer takes over a week and if you want to have it done in maybe a week, they charge you 25 euro
Hate my bank because, the aren't open on Saturdays.
My bank also seemed to have lost the forms I filled in for an International Wire-Transfer over a week ago :/
They say they can't even track it.
Absolutely useless. Even then a Wire-Transfer takes over a week and if you want to have it done in maybe a week, they charge you 25 euro
why would you go to the bank on a Saturday anyway?
Internet banking > getting up on a Saturdays
Im at college during the week and banks close at 4, my classed end at 5.
Also even if I make it to the bank, they have to post everything to the bank that holds my account. Another week of waiting.
I have online banking, but when ever I add a Beneficiary, I have to wait for a letter with a pin to activate it. Then that takes another week. Absolutely great service.
Where if they were open on Saturdays, I could go in with the form fill it in and in a week the money would be transfered, instead of waiting 2 weeks for a benficiary to be activated and money to be transfered.
Also even if I make it to the bank, they have to post everything to the bank that holds my account. Another week of waiting.
I have online banking, but when ever I add a Beneficiary, I have to wait for a letter with a pin to activate it. Then that takes another week. Absolutely great service.
Where if they were open on Saturdays, I could go in with the form fill it in and in a week the money would be transfered, instead of waiting 2 weeks for a benficiary to be activated and money to be transfered.
Depends on what your long term outcome is, example iam saving to buy a flat, interests rates my not be high however house prices are dropping more thus offseting my loss of interest rate. We still have a long way to go in house price drops.
Plus i look at thing differently, if i purchase something now on credit iam losing out from both angles, one the depreciation of the good second the increase in price i have to pay for that good. When in fact if i save by the time ive saved for that item a newer item for that price will be on the market.
example i purchased a sony 1080p lcd last xmas for £899 and recieved a free ps3, my mate at the same time purchased the same however he is still paying it off.
i have money my mates dont have money, i work less they work more
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Soldato
- Joined
- 17 Mar 2004
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- 8,259
Thing that narks me about Nationwide is that I am on a tracker and will benefit from yesterdays IR drop so will be paying 3.08%.....but there is still talk of this dropping down to 2.75% as early as next month. But in the small print of my mortgage they will only let a tracker rate drop to a minimum of 2.75%.
But surely they should also have an upper capped limit too because I can be as sure as hell that if it went to 20% I would have to pay and lump it.
This is why banks suck!
But surely they should also have an upper capped limit too because I can be as sure as hell that if it went to 20% I would have to pay and lump it.
This is why banks suck!
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