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

Alibaba99 said:
You can't really compare the 4.5m people with trackers to the total population of the UK. Those with mortgages are going to be households so the interest rate rise will affect multiple people. And those with trackers may also be savers (I know I am).
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I can't remember the wording of the link I saw, but even if it was 4.5m households (rather than people) at the most there will be two people paying the mortgage, so that's 9m people. It's still not the majority of the population as most people here and the media like to make out. And if you're a saver as well as having a mortgage that's all well and good, but again that sort of nullifies the point of "zomg interest rate rise we're all going to be homeless!!1" because if you lose a bit on your mortgage, you'll gain a bit on your savings. That's all I'm saying.

I'm just fed up of being a renter, and that nobody talks about us. There's bigger issues with the finances of tenants in this country compared to those lucky enough to own their own home - and in a few years there will be more of us than those with mortgages. So it's about time the media paid us a bit more attention.
 
Scam said:
I can't remember the wording of the link I saw, but even if it was 4.5m households (rather than people) at the most there will be two people paying the mortgage, so that's 9m people. It's still not the majority of the population as most people here and the media like to make out. And if you're a saver as well as having a mortgage that's all well and good, but again that sort of nullifies the point of "zomg interest rate rise we're all going to be homeless!!1" because if you lose a bit on your mortgage, you'll gain a bit on your savings. That's all I'm saying.

I'm just fed up of being a renter, and that nobody talks about us. There's bigger issues with the finances of tenants in this country compared to those lucky enough to own their own home - and in a few years there will be more of us than those with mortgages. So it's about time the media paid us a bit more attention.
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Its been in the media multiple times over years but its the usual British attitude. Let's complain but nothing gets done about it, same with utility bills going up year on year.
 
Scam said:
And if you're a saver as well as having a mortgage that's all well and good, but again that sort of nullifies the point of "zomg interest rate rise we're all going to be homeless!!1" because if you lose a bit on your mortgage, you'll gain a bit on your savings. That's all I'm saying..
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It's not as if interest rates going up are good if you have a 200k mortgage but 10k of savings..

I agree with your latter point about serious issues for a lot of people buying a house, particularly in south of England.
 
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