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repetitive bleats

Mortgage Interest Rate Of 14.9%

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i was just going through some old docs and I found my mortgage approval letter for 1990.

i've stuck it back in the suitcase and so don't have the details to hand but my mortgage

rate was 14.9% it was for 53k accompanied by a 15k deposit and was just shy of £600pm.

i hope that all adds up - i only took a cursory glance at the papers and so if i've misread

them i'm sure that someone wold spot it right off.

i remember taking it out thinking - if i can afford a mortgage at this rate of interest then

it can only go down. unfortunately so did the value of the house for the next 4 years.

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i was just going through some old docs and I found my mortgage approval letter for 1990.

i've stuck it back in the suitcase and so don't have the details to hand but my mortgage

rate was 14.9% it was for 53k accompanied by a 15k deposit and was just shy of £600pm.

i hope that all adds up - i only took a cursory glance at the papers and so if i've misread

them i'm sure that someone wold spot it right off.

i remember taking it out thinking - if i can afford a mortgage at this rate of interest then

it can only go down. unfortunately so did the value of the house for the next 4 years.

I had one just the same... except for double the numbers. And the value went down too.

Happy days...........

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i was just going through some old docs and I found my mortgage approval letter for 1990.

i've stuck it back in the suitcase and so don't have the details to hand but my mortgage

rate was 14.9% it was for 53k accompanied by a 15k deposit and was just shy of £600pm.

i hope that all adds up - i only took a cursory glance at the papers and so if i've misread

them i'm sure that someone wold spot it right off.

i remember taking it out thinking - if i can afford a mortgage at this rate of interest then

it can only go down. unfortunately so did the value of the house for the next 4 years.

But just look how inflation has eroded your debt.

53k today can be had for pocket money.

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But just look how inflation has eroded your debt.

53k today can be had for pocket money.

Err, would you give me some pocket money then?

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Your mortgage payment for 53 grand was significantly more than mine for 200 now. Can't see us going back to 14.9% interest rates somehow.

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Your mortgage payment for 53 grand was significantly more than mine for 200 now. Can't see us going back to 14.9% interest rates somehow.

you can't see it happening but it could, and then all the people losing out on fixed mortgages cursing their luck now, start laughing at the rate tarts chasing the trackers (im a rate tart in this instance). i think if interest rates went to 8 or higher a lot of the country would be stuffed. hpc of 90% proportions!

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Your mortgage payment for 53 grand was significantly more than mine for 200 now. Can't see us going back to 14.9% interest rates somehow.

Why not? How the heck else are the banks going to pay back the taxpayer? How are all these newly unemployed and repossessed folks going to survive? How do the two-million plus on long term sick get supported? Who is funding the war in Afghanistan?

Where do you think that dole money comes from, or any social support? Thin air? Tax, and IR's are the fuel of our western democratic society.

Or are you one of the many people living in la-la land who think that Britain operates with money magically created by wood fairies?

What's the UK bailout now? 1.5 Trillion? Not sure as the gubmint is not about to expose the SLS totals from last year.

A lot of you need to look at the history of Britain through the 1900's, because we keep repeating it.

Double digit inflation. Double digit IR's. Double digit unemployment. All coming, some here already.

This raft of low IR's has basically been a massive, state sponsored con on the population of the UK, to get people paying interest and generate a steady tax inflow. If you haven't figured out that £30k of building materials and £40k of land does not = £150k (or more) of property then you are one of the many marks.

Why the heck do you think this all happened? Circumstance? Chance? Dumb luck? Karma?

Examples:

1976 Nov - 14.7500%

1981 Oct - 15.0000%

1989 Oct - 14.8750%

These high rates reflected bad economic times for the UK, and a more responsible and smaller gubmint. Why the heck are the rates at 1% now? Do the puzzle pieces start to snap together?

BOE Rates

"Words offer the means to meaning, and for those who will listen, the enunciation of truth. And the truth is, there is something terribly wrong with this country, isn't there?" V.

Edited by cashinmattress

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Your mortgage payment for 53 grand was significantly more than mine for 200 now. Can't see us going back to 14.9% interest rates somehow.

Why not? I don't mean to be obtuse, but banks are returning to traditional lending. Once the government bond markets start to give the UK the cold shoulder, the yields will have to go up and therefore the interest rates. If QE is used, yield rates may have to go higher still.

If inflation starts going up, interest rates will reflect this too - the banks don't want to see their loan values eroded away.

Many people couldn't see house prices falling more than a few percent. It is now accepted as happening. I wouldn't be surprised if interest rates start climbing too. It was only a couple of decades ago, remember.

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Your mortgage payment for 53 grand was significantly more than mine for 200 now. Can't see us going back to 14.9% interest rates somehow.

just say we did then what would sibley say !!! :lol::lol::lol:

house prices never go down !!! :unsure::lol:

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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