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Author Topic: Interest Rates  (Read 1430 times)
horlock07

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« on: Thursday, December 12, 2019, 15:49:41 »

Away from the joy of the election.

I know there are a few of you financial types on here, what is the general thinking as to where rates will go post election and probably more importantly after we totter off with no deal come next December?

Our fixed rate mortgage is coming to an end and looking around we can sign up to 2/3/5 years all way under 2% going forward, is it better just to sign up for 2 years or go the full 5?

Ta muchly.
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4D

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« Reply #1 on: Thursday, December 12, 2019, 16:02:24 »

Personally I would lock the low rate in for as long as possible. I would always choose a package without the fees too. For example 2.1% with a £999 fee or 2.3% with £0 fee, it would be the slightly higher rate for me. My personal choice. All of this of course depends upon your own circumstances. 
« Last Edit: Thursday, December 12, 2019, 16:04:23 by 4D » Logged
RobertT

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« Reply #2 on: Thursday, December 12, 2019, 19:22:14 »

Rates can hardly drop much lower, they are at historic lows still.  These days you'd be mad not to lock in for as long as possible.  It only takes one Nigel Lawson to ruin you.
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Legends-Lounge

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« Reply #3 on: Friday, December 13, 2019, 01:48:59 »

Rates can hardly drop much lower, they are at historic lows still.  These days you'd be mad not to lock in for as long as possible.  It only takes one Nigel Lawson to ruin you.

Luckily you wonít be getting a Gordon Brown either.
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RobertT

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« Reply #4 on: Friday, December 13, 2019, 14:12:26 »

WTF did Gordon Brown do to Interest Rates, in this context?  He may have been incompetent, but I don't remember them spiking into double digits overnight?  It's not a political statement, it was pointing out that they usually are much higher and you have to have in your mind sometimes those in power can have huge impacts on them.
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Legends-Lounge

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« Reply #5 on: Saturday, December 14, 2019, 11:59:12 »

WTF did Gordon Brown do to Interest Rates, in this context?  He may have been incompetent, but I don't remember them spiking into double digits overnight?  It's not a political statement, it was pointing out that they usually are much higher and you have to have in your mind sometimes those in power can have huge impacts on them.

I do believe he abolished boom and bust, except he didnít. He bankrupted the country and as a consequence caused rates to drop. Which in turn screwed the country into having to tighten its belt and be prudent (you call it austerity I think?) which in turn affects everyone. Though great if youíve got a tracker mortgage like me, not so great for those with savings is it.
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Reg Smeeton
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« Reply #6 on: Saturday, December 14, 2019, 12:46:06 »

I do believe he abolished boom and bust, except he didnít. He bankrupted the country and as a consequence caused rates to drop. Which in turn screwed the country into having to tighten its belt and be prudent (you call it austerity I think?) which in turn affects everyone. Though great if youíve got a tracker mortgage like me, not so great for those with savings is it.

We've done this many times before but Brown wasn't even Chancellor at the time of the global banker's crash in 2008, that was Alastair Darling.  It cost us taxpayers £500 billion, to bailout the banks, some of it returned to the Exchequer, but for example RBS lost about £5 billion down the drain under the Tory regime, while the bankers still got their bonuses.

The Tories voted for Darling's model and the US and EU followed suit.
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Jimmy Quinn

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« Reply #7 on: Saturday, December 14, 2019, 12:49:24 »

I do believe he abolished boom and bust, except he didnít. He bankrupted the country and as a consequence caused rates to drop. Which in turn screwed the country into having to tighten its belt and be prudent (you call it austerity I think?) which in turn affects everyone. Though great if youíve got a tracker mortgage like me, not so great for those with savings is it.
Go back to 1989,1990,1991 etc and I was paying 14.5% imagine that now!
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Bedford Red

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« Reply #8 on: Saturday, December 14, 2019, 13:02:45 »

Go back to 1989,1990,1991 etc and I was paying 14.5% imagine that now!

I remember those days, my sister had a 15% interest rate under the Tories when she brought in 1990.

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Pookemon

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« Reply #9 on: Saturday, December 14, 2019, 13:07:10 »

We've done this many times before but Brown wasn't even Chancellor at the time of the global banker's crash in 2008

Correct he was prime minister!
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Thingie

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« Reply #10 on: Saturday, December 14, 2019, 13:09:00 »

we are locked in until the end of our mortgage.

it's not the cheapest way to do it IF interest rates start low. but I'd rather have peace of mind.
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Reg Smeeton
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« Reply #11 on: Saturday, December 14, 2019, 13:11:08 »

Go back to 1989,1990,1991 etc and I was paying 14.5% imagine that now!

Norman (unemployment is a price worth paying) Lamont.

Norman rented out his basement flat, to Miss Whiplash (Lindi St Clair) who apparently was at Park School the same time as me.... not that I remember her, which is a shame as she might have been fun.

I guess it's some sort of progress that we don't now get politicians preaching about personal morality and then practising something entirely different.  With Johnson we still don't now how many kids he's got.
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Jimmy Quinn

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« Reply #12 on: Saturday, December 14, 2019, 13:13:17 »

Correct he was prime minister!

How an earth did we all manage then as wages weren't nothing special
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