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Nationwide Imposes Sharp Rise In Fixed Mortgage Rates

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That is big.

25 quid a week - isnt much at all.......

6450 / 60 (12months a year x 5) =

107.5 / 4.3 (weeks in a month)

= 25.

Move on please, no news here.

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It will be interesting to see what happens to those who are now buying on the back of ultra low rates once the market shifts them substantially upwards, as some commentators such as Liam Halligamn are expecting. Does anyone have a take on how long they can be held so low?

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25 quid a week - isnt much at all.......

6450 / 60 (12months a year x 5) =

107.5 / 4.3 (weeks in a month)

= 25.

Move on please, no news here.

25 quid a week is very significant for many.. we're not all zimbabwean bankers you know

being down 100 quid a month can make a real mess

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Guest DissipatedYouthIsValuable
25 quid a week - isnt much at all.......

6450 / 60 (12months a year x 5) =

107.5 / 4.3 (weeks in a month)

= 25.

Move on please, no news here.

Another 25k over 20 years.

Holidays....

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25 quid a week is very significant for many.. we're not all zimbabwean bankers you know

being down 100 quid a month can make a real mess

put it this way. For many, these are 100 quid a month not going towards luxuries, leisure, holidays, saving.

OR, about 6 or 7% less take home pay for the average earner.

it IS a big deal.

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25 quid a week is very significant for many.. we're not all zimbabwean bankers you know

being down 100 quid a month can make a real mess

Agreed. My budget is very tight. An extra £100/month to find would make things a lot harder.

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25 quid a week - isnt much at all.......

6450 / 60 (12months a year x 5) =

107.5 / 4.3 (weeks in a month)

= 25.

Move on please, no news here.

You can make the figure seem even less significant if calculate it in pence per second.

100 pounds a month is a fair amount to me, but since it will be on a much lower purchase price, it makes no difference.

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It will be interesting to see what happens to those who are now buying on the back of ultra low rates once the market shifts them substantially upwards, as some commentators such as Liam Halligamn are expecting. Does anyone have a take on how long they can be held so low?

I think talk of recovery is a smokescreen for raising them, the spin never chimes with what real people are seeing anyway. The banks will by now have calculated how many customers will cave in under higher rates. They are gambling that the take up for new cheap houses at say 8% will be enough to patch their balance sheets. Bankrupt banks and a bankrupt government can`t give an indefinate payment holiday, they must have new income streams from the new generation of debt holders,it must be at a level these people can afford, hence house prices will be coming down a lot further.

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25 quid a week - isnt much at all.......

6450 / 60 (12months a year x 5) =

107.5 / 4.3 (weeks in a month)

= 25.

Move on please, no news here.

You might be happy to give another £100 a month to the banks but I'm not - it's also a significant amount for me and my husband, both with reasonable jobs. I work hard for that £100. Please be less free and easy with saying what is signicant amounts of money for other people.

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25 quid a week - isnt much at all.......

6450 / 60 (12months a year x 5) =

107.5 / 4.3 (weeks in a month)

= 25.

Move on please, no news here.

£107.50 is about a quarter of the monthly rent I pay (on a house worth 139k, down from 195k in 2007). I would say that is significant, wouldn't you?

edit: typo

Edited by Traktion

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25 quid a week - isnt much at all.......

Move on please, no news here.

As already said here, £25 a week is a lot of extra money for a lot of people to find right now.

Especially for example, for many, who have had a pay cut recently.

In my case, my hubbie has just had to take 10% pay cut, as has everyone else he works with.

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You can make the figure seem even less significant if calculate it in pence per second.

Or by naming yourself after a certain African central banker and posting it just above a large picture of a note with a very large number on it. I was half expecting a rocket or two.

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25 quid a week - isnt much at all.......

6450 / 60 (12months a year x 5) =

107.5 / 4.3 (weeks in a month)

= 25.

Move on please, no news here.

Basically, your a wealthy f*cking twit who has no concept of how most of the population live.

Most people would struggle if their mortgage went up by £100 a month.

At best it means most families can now no-longer afford a holiday this year.

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I've worked out for every 50bases point increase (0.50%) on my (yet to take out mortgage) I will have to drop the house price by £7,500 to keep my repayments the same.

I'm happy for rates to hit higher levels, as the reduction in asset prices it would cause would more than compensate for the higher mortgage rate!

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What? No bulls on this thread? :P

Well, there was one that thought £107 per month was nothing to be concerned about... :rolleyes:

Strangely, there are no bulls posting on the related gilts thread either!

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Another 25k over 20 years.

Holidays....

Cars....

Furniture......

In other words, yet more money sucked out of the 'consumer/producer' economy. Although perhaps not. Perhaps, instead of Mrs Tiggins spending it on buying a secondhand Ford Focus every 5 years, all the money from everyone in her street will get bundled together to pay for a new Aston every three years for Quentin the banker? Unless he blows it on coke and hookers, of course, in which case I guess we could count it as lost money?

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25 quid a week - isnt much at all.......

6450 / 60 (12months a year x 5) =

107.5 / 4.3 (weeks in a month)

= 25.

Move on please, no news here.

1200 PA pay cut....net that is so call it £1800

thats around 5% speniding money out of the economy assuming the average wage.

add in council tax, energy, food and other rises, and one could see spending and green shoots drowned in the sea of debt...which has not actually gone away, dontchaknow.

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Guest มร หล&#3
25 quid a week - isnt much at all.......

6450 / 60 (12months a year x 5) =

107.5 / 4.3 (weeks in a month)

= 25.

Move on please, no news here.

Maybe not to you rich Manhattan boys!

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