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Democorruptcy

Support for Mortgage Interest rate change

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2 hours ago, Democorruptcy said:

At the moment it's still 3.12% but dropping to 2.61% from the 18th June.

https://www.gov.uk/support-for-mortgage-interest/what-youll-get

The governbankment happy to pay bankers (via debtors) a much higher rate than NS&I offer savers.

Huh. Isn't it a good thing that the interest rate is dropping? Surely the taxpayer should be paying as little as possible in support to people on SMI? And if the interest on their mortgages have fallen why should the SMI rate be higher than that?

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2 hours ago, fru-gal said:

Huh. Isn't it a good thing that the interest rate is dropping? Surely the taxpayer should be paying as little as possible in support to people on SMI? And if the interest on their mortgages have fallen why should the SMI rate be higher than that?

It's better that the interest rate is dropping... again.... at last....but it feels to me like the stable door is still open and several horses are running loose. 

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