As someone who subscribed to 7/8% interest rate mortgages during the 90/00s; I find it quite alarming how financial acumen amongst certain generations/age-groups has seemingly gone out of the window!
Interest rate doubled (increased by the least it realistically could have)
- Thread starter LabR@t
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It's quite alarming how many people are now worried they can't afford their mortgage off the back of a 0.25% rise. How shortsighted and naive you must be to have taken a mortgage out at 0.25% thinking it would last
Yep. Bound to be plenty of home owners on the news forced in to eating beans on toast or using food banks.
Which is good but coming off that onto 5,6,7% will StingJust fixed on a new deal for 5 years back in june
Nice to see some Brexit optimism.
Associate
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Luckily had a fixed rate in the 90s when went up 3-4% in as many hours 
Maybe or maybe not, i will have funds in place to cover the extra if need be, only have a small mortgage anyway so the shock shouldn't be to bad, i do worry for the ones who pay big mortgages now, they will be out with a paper cup and sandwhich board to cover the shortfall.
Permabanned
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Maybe I should move to Japan, where the banks pay you
Soldato
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I’m somewhat ambivalent!
Maybe I should move to Japan, where the banks pay you
Quite a sizeable level of distrust towards banks and bank accounts in Japan. A significant number of people keep funds under the mattress.
I can't see it going anywhere near that for 10 plus years. If anything, interest rates will continue to sit at 1% for another decade.
for savers its good.
Just put the rent up.Waiting for landlords to starting whinging at how hard-done-by they are and that they'll have to start selling.
