Interest Rates Up Again!!

[steveo]

My two year fixed period at 4.5 runs out in September. Doh!

Anyone got one of those Virginone things?

 

[DTS]

My two year fixed period at 4.5 runs out in September. Doh!

Anyone got one of those Virginone things?

Steveo.

You need to move fast.

best in amrket now is 5.74% with Halifax with free val & legals...

PM if you want more details but dont be slow as clearly no-one is going to have a fix with freebies belowe the BOE rate for long.

DtS

 

[Flinty]

Dave

Aren't you meant to mention something along the lines of

"You home is at risk if you do not keep up with a mortgage of loan secured against it"

at the bottom of your posts offering mortgage advice......;)

 

[londonblue]

Because Mr Brown gave the decision making for interest rates to The Bank of England. When it's good they say 'Great idea by us' when it's bad, they say 'Nothing to do with us' Another piece of bullsh!t spin from New Labour.

That is complete rubbish. Labour have never said anything, good or bad. They have left this to the BoE and simply not meddled.

Look at the mess the Tory's got into when they took control of interest rates. It's the single best thing Labour have done, and (to me) it's strange they haven't made a big deal of it.

More to the point, do you know how many recesssions we have had since Labour came to power? No? Well the answer is zero. The whole of the Eurozone has, and so has the US, but not us. We have (I believe) had continous growth since 1997. We may have had differing rates of growth, but it's been growth nonetheless.

When we had a huge recession under the Tory's we were told by them that nothing can be done about it because it was a world recession and we were just a small country that got caught up in it. They also said that it was a natural thing; that economies tend to go into recession on a 7 (ish) year cycle. If that were true, how come Labour have managed to dodge a world recession, and sustain growth for 10 years?

Have a go at Labour if you want, they're far from perfect, but don't try to tell us that they can't manage an economy, and that they make a big deal of things when they go well. They don't, but they bloody well should.

It is interesting to me that Cameron hardly even mentions the economy when he gets his claws out.

 

[SARF]

Labour in herited a fantastic economic situation from the Tories.. Ken Clarke and Lamont both wanted an independent Bank of England but felt the electorate wouldnt stand for unelected officials setting intrrest rates.. G Brown has decimated the finest final salary pension system on the planet, the effects wont be felt properly for a decade or two so no worries there then. and basically ****ed up the wall a real chance to reshape Public services.. Dont even mention his Gold trading.. The global enviroments has been very helpful as China with its huge manufacturing base has kept global inflation low thus enabling our largly property driven boom to continue.. Also Oil has been historically very cheap for decades , and although getting expensive now .. But the main thing with Labour is they are all ugly c..ts!

 

[SARF]

Oh and currently markets are pricing in one more hike this year but are unsure of which meeting it will be.. and a further1/4 percent is priced into early next year.. Markets of course are often very wrong but the current pricing will eventually have an effect on any fixed 2-5 yr mortgage deals

 

[RobM]

Having just paid my mortgage up, a rise is good news for me!

 

[SARF]

Having just paid my mortgage up, a rise is good news for me!

Very much so.. and Im going to positive rep you for gloating! ;)

 

[londonblue]

Having just paid my mortgage up, a rise is good news for me!

Indeed. Also, if you're on a fixed rate mortgage you get double the satisfaction. Firstly, you get to feel smug, and secondly the interest on your savings increases.

That's what is known as a double whammy! I bet you wish you hadn't paid off your mortgage now!

;)

 

[Holy Joe]

More to the point, do you know how many recesssions we have had since Labour came to power? No? Well the answer is zero. The whole of the Eurozone has, and so has the US, but not us. We have (I believe) had continous growth since 1997. We may have had differing rates of growth, but it's been growth nonetheless.

When was the recent recession in the US and the Eurozone?

 

[Pubey]

That is complete rubbish. Labour have never said anything, good or bad. They have left this to the BoE and simply not meddled.

Look at the mess the Tory's got into when they took control of interest rates. It's the single best thing Labour have done, and (to me) it's strange they haven't made a big deal of it.

More to the point, do you know how many recesssions we have had since Labour came to power? No? Well the answer is zero. The whole of the Eurozone has, and so has the US, but not us. We have (I believe) had continous growth since 1997. We may have had differing rates of growth, but it's been growth nonetheless.

When we had a huge recession under the Tory's we were told by them that nothing can be done about it because it was a world recession and we were just a small country that got caught up in it. They also said that it was a natural thing; that economies tend to go into recession on a 7 (ish) year cycle. If that were true, how come Labour have managed to dodge a world recession, and sustain growth for 10 years?

Have a go at Labour if you want, they're far from perfect, but don't try to tell us that they can't manage an economy, and that they make a big deal of things when they go well. They don't, but they bloody well should.

It is interesting to me that Cameron hardly even mentions the economy when he gets his claws out.

well put mate

 

[londonblue]

When was the recent recession in the US and the Eurozone?

From The FT re Eurozone recession, 2003:-

FT

From the BBC re US recession November 2001:-

BBC

 

[RobM]

Don't forget though, my first mortgage was at 15% and believe me, with two small children to care for, that was a struggle

 

[Kenny]

from where I stand, the bottom rung of the property ladder is being dangled from a helicopter thats taking off at an alarming rate.

Putting the Bank Of England in charge of interest rates was a very astute move by Gordon Brown as it pretty much absolves the goverment of blame.

 

[Holy Joe]

German team damn UK economic 'miracle' as a sham

When we had a huge recession under the Tory's we were told by them that nothing can be done about it because it was a world recession and we were just a small country that got caught up in it. They also said that it was a natural thing; that economies tend to go into recession on a 7 (ish) year cycle. If that were true, how come Labour have managed to dodge a world recession, and sustain growth for 10 years?

Have a go at Labour if you want, they're far from perfect, but don't try to tell us that they can't manage an economy, and that they make a big deal of things when they go well. They don't, but they bloody well should.

I think they may have delayed it and made it bigger........

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/10/22/bcnuksham122.xml

 

[Winkle]

I was kucky enough recently to be in a position to also pay my Mortage off ( like Rob m) but I generally feel that Banks and building society are just festering amebas on life long path to misery. I would if I could ,have nothing to do with any bank or B.S as they are all out to screw you for as much as they can. Feel comfort in the fact that maybe one day alot of these institutions will collapse and implode because of there own greed and finally you will be able to stick to fingers up to the B******s! (rant over)

 

[Southminster_Shrimper]

I was kucky enough recently to be in a position to also pay my Mortage off ( like Rob m) but I generally feel that Banks and building society are just festering amebas on life long path to misery. I would if I could ,have nothing to do with any bank or B.S as they are all out to screw you for as much as they can. Feel comfort in the fact that maybe one day alot of these institutions will collapse and implode because of there own greed and finally you will be able to stick to fingers up to the B******s! (rant over)

Cant agree with that! I would be out of a job for a start!

 

[Winkle]

Cant agree with that! I would be out of a job for a start!

So would I! only joking of course!

 

[Einstein]

From The FT re Eurozone recession, 2003

Interesting to read this thread, missed it first time round.

I only noted the other day that over here (NL) interest rates are on average around 5.1% fixed for ten years. Finally there are some advantages of living here! :flamer:

 

[sufcintheprem]

Well, that's going to delay any housebuying then. I have to agree with the people who are concerned by the level of debt though - it's quite frightening how much of other people's money some people are willing to spend before they've earned it.

Then again, with the proportion of homeowners in the country (is it still ~80%?) might the increase in rates also serve to increase the debt of homeowners?