Caporegime
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Does that mean our savings account gets a lot interest rate
Mortgage Rate Rises
- Thread starter glenimp617
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Caporegime
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4% from Chips and a few others, but yes.
The rich gets richer, and the poor gets poorer. Although you are still losing money from inflation, even at 4%.
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Didn't think we'd quite see these rates 
Just finally accepted our documents to take the approx half of our whole mortgage that's fix is expiring over to 4.65% from 1.55%. Very glad I did as so many have been saying and got the ball rolling months ago, we'd be looking at 1.5% more than that now I reckon.
Just finally accepted our documents to take the approx half of our whole mortgage that's fix is expiring over to 4.65% from 1.55%. Very glad I did as so many have been saying and got the ball rolling months ago, we'd be looking at 1.5% more than that now I reckon.
Plan is to try and keep my job.That would motivate me to do something about it
Save up 50k that I can use to pay the mortgage down to 130k at time of renewal.
If rates are lower by then or looking like being lower the option is there to use it for something else.
I'll still be having holidays. But cutting back on stuff like eating out, take aways, clothes etc
Once the mortgage is under 100 I won't be so worried about rates.
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Associate
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- 3 Dec 2011
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Ugh, nationwide are offering me 5.64% for a 2 year fix.
Im on a tracker which is sitting at 5.59%, so used to the payments now. Up from 1.4% though
I dont think that is including the rise today?
I feel im gonna have to bite the bullet and take it before it gets worse.
Im on a tracker which is sitting at 5.59%, so used to the payments now. Up from 1.4% though
I dont think that is including the rise today?
I feel im gonna have to bite the bullet and take it before it gets worse.
Man of Honour
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Goodness knows what we’ll be fixing at by next summer.
Where's @dLockers kers when you need him.
Rip
Pensions will become a privilege not a right. Work till the day you die.
Tbh I agree with rate rises (from the stupendous lows we saw) being good for society regardless of the economic situation. Debt being so low cost (with the simultaneous effect of cash savings being pointless ) is not healthy IMO.
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Soldato
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win the war in Ukraine
Soldato
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...and remove all barriers/frictions to trade with the EU.
That's a drop in the ocean when it comes what's causing inflation.
I also don’t disagree with higher rates, however it’s not the tool to use here.
We need a tool which will reduce spending power ASAP, not over the next several years as fixed rates expire. We also don’t want to excessively reward the already disproportionately rich.
The funds raised will then be used to pay down government debt, not furnish banks and cash rich folks with more money.
Its more than a drop
Soldato
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Happened to a work mate in the early 90s. (Yes I know that time when houses were 3p and everyone was rich!) She couldn't afford to eat properly.
Those of us friendly with her would find excuses to give her things.
We had a friday chippy day once a month. It was amazing how the chip shop kept giving us an extra portion for example.
You could even equity release and put it in savings!