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Pauly_Boy

Just Noticed The Most Read Article On Bbc Business For Sunday And Monday

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"Interest rates 'may hit 8%' by 2012 says think tank"

http://www.bbc.co.uk/news/business-11052076

Now I know this is old news here, but there must have been a large number of people that read the article and soiled themselves! The thoughts that rates will fly up could mean that people try to sell there homes now and BTL bailing out from their 'investments', what does everyone else thing.

Even though it's not direct bear food, it's great that it's been top of the BBC charts for two days running!

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"Interest rates 'may hit 8%' by 2012 says think tank"

http://www.bbc.co.uk...siness-11052076

Now I know this is old news here, but there must have been a large number of people that read the article and soiled themselves! The thoughts that rates will fly up could mean that people try to sell there homes now and BTL bailing out from their 'investments', what does everyone else thing.

Even though it's not direct bear food, it's great that it's been top of the BBC charts for two days running!

May already have been covered on HPC. I know there was another "PR type article" floating around claiming interest hikes of 14%.

Would think there is a scam brewing trying to get everyone onto fixed rates, which might prove more profitable for the banksta's in the long run :lol:

You can't believe any item of "news" these days, and virtually no mainstream news source can be trusted.

Edited by Sir John Steed

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May already have been covered on HPC. I know there was another "PR type article" floating around claiming interest hikes of 14%.

Would think there is a scam brewing trying to get everyone onto fixed rates, which might prove more profitable for the banksta's in the long run :lol:

You can't believe any item of "news" these days, and virtually no mainstream news source can be trusted.

Mortgage owners in my office in complete denial.

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Mortgage owners in my office in complete denial.

Mortgage owners everywhere have their head in the sand.

Talking to an old friend of mine last night...their £80K mortgage is 54 quid a month...I said do yourself a favour and remotgage now while there are deals about...."well, I would, but I'd prefer to keep paying the 54 quid a month".

Eventually, the banks will want payback for also these people getting money for nothing.

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I was told the "government will step in" and "the banks have to continue to give customers (sic mortgage holders) what they want" :blink: I mentioned savers might now wish to continue depositing and was told the government line. Bizarre

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! The thoughts that rates will fly up could mean that people try to sell there homes now and BTL bailing out from their 'investments', what does everyone else thing.

Even though it's not direct bear food, it's great that it's been top of the BBC charts for two days running!

Probably people with savings thinking at last a return on my money.

The people with debt will have been looking at the gossip pages on the bbc.

The people with money will have been looking at the money/business section and creamed themselves thinking of an 8% risk free return.

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I think it'll give some the 'head in the sand' lot a kick in the ****.

Regarding the chap with a £54 a month mortgage, I can't really blame him for not remortgaging. As far as mortgages go, it's not huge and if he's paying down the debt rather than spending all the savings on toys then he could be sitting pretty. This is yet another wake up call for the over indebted to repay rather than spend spend spend.

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I think it'll give some the 'head in the sand' lot a kick in the ****.

Regarding the chap with a £54 a month mortgage, I can't really blame him for not remortgaging. As far as mortgages go, it's not huge and if he's paying down the debt rather than spending all the savings on toys then he could be sitting pretty. This is yet another wake up call for the over indebted to repay rather than spend spend spend.

Ah but there's the rub. Is he paying off any debt? His mortgage isn't £54 a month, the INTEREST on his mortgage is £54 a month.

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Probably people with savings thinking at last a return on my money.

The people with debt will have been looking at the gossip pages on the bbc.

The people with money will have been looking at the money/business section and creamed themselves thinking of an 8% risk free return.

It IS bear food in that, when rates rise substantially it will deal the killer blow this property bubble needs. However, anyone with savings rejoicing can forget it! The article rightly says that 8% rates would be needed in response to inflation of 10%. So a savings account will still be a loss in that event!!!!! Howvever, if savings rates become normal, they would be set at about 2-3% above inflation and then savers may rejoice. Mortgage holders can cry, since that would indicate SVR's at 12-14%.

I would suggest that this is all fairly unlikely at present, but.......5-6% base rates are not atall unlikely. Mortgage rates at 8% very likely.

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  • 261 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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