Interest rate doubled (increased by the least it realistically could have)

LabR@t · 2 Nov 2017 at 13:18

Looks like the days of cheap money are coming to an end.

100k loan just become about £12 a month more expensive.
How high will it go ??

LabR@t · 2 Nov 2017 at 13:29

gettothechopper said:
classic Labr@t overreaction thread title

congratulations

Has the rate doubled, yes or no?

I

Evangelion said:
LabR@t is clearly too young to remember when interest rates were genuinely high.

I wish, my first mortgage was at 9%

LabR@t · 2 Nov 2017 at 15:34

Jokester said:
Wasn’t the cut from 0.5% to 0.25% blamed on Brexit as well

No it hasn't been cut since brexit!

LabR@t · 2 Nov 2017 at 15:35

They are going to inflate the national debt away.

LabR@t · 2 Nov 2017 at 15:55

I

marc2003 said:
Yes it was. Brexit vote was 23rd June and the interest rate was cut from 0.5 to 0.25 on the 4th August last year.

I stand corrected.

LabR@t · 2 Nov 2017 at 18:07

Time for the drones to hand the car keys back on the lease car.

LabR@t · 2 Nov 2017 at 18:09

Lol mod edited title.

LabR@t · 2 Nov 2017 at 18:14

Spook187 said:
Just fixed on a new deal for 5 years back in june

Which is good but coming off that onto 5,6,7% will Sting

LabR@t · 2 Nov 2017 at 19:37

Edinho said:
Waiting for landlords to starting whinging at how hard-done-by they are and that they'll have to start selling.

Just put the rent up.

LabR@t · 3 Nov 2017 at 09:26

GinG said:
I dropped my daughter off at my parents house this morning and first thing my mum mentioned was the interest rate hike and the first ever in 10 years. Due to the way it has been reported it has been made into a big deal, when I mentioned it has only just gone back to what it has been for the last 10 years she couldn't get around the fact it is still the first raise in 10 years!

All this scaremongering and bullcarp reporting etc is going to cause people to slightly panic. Everyone is blaming brexit...if it wasn't for all the media hype things would be fine.

Anything to tarnish the brexit, it will give them ammunition to stall it etc

LabR@t · 3 Nov 2017 at 12:42

FortuitousFluke said:
I've got to say the media are stoking this one. The BBC (a broadcaster you'd expect to take a balanced approach) have led with the slightly provocative tagline of how high could the rates end up going, and then referenced back to historical rates from 20-30 years ago as if the BoE are suddenly going to cripple the average person by whacking the rate up by 15% over the next 2 years.

When has the BBC ever been balanced?

LabR@t · 4 Nov 2017 at 08:13

Reports that the economy is starting to pick up speed, growing at its fastest rate for a while, probably means more rate rises sooner rather than later.

https://www.google.co.uk/amp/uk.mobile.reuters.com/article/amp/idUKKBN1D30SO

LabR@t · 4 Nov 2017 at 15:35

Efour said:
Probably means some short term investment and profiteering before hard brexit crashes the UK off the map.

Oh your one of them :rolleyes:

LabR@t · 11 Nov 2017 at 21:03

Rotty said:
got my paperwork through for the increase as I'm on a tracker

and extra 93 bloody pence a month

Bloody baby boomers just don't know how hard this generation has it!