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teddyboy

Bbc: How Is The Ir Rise Going To Affect You

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http://news.bbc.co.uk/1/hi/business/5242576.stm

Do I detect a bit of 'fluffing'?

In the early 1990s, the banks were accused of making an economic recession and a house price crash far worse by pulling the rug from under borrowers.

Many people found their credit card debt was called in at short notice and, as a result, got into financial hot water.

What can I do to protect myself?

First, don't panic.

No major UK economists are predicting that a recession is around the corner.

In addition, even with the quarter point rise, interest rates are roughly half the average of the past 20 years.

But some debt experts hope that the interest rate rise will act as a wake-up call to UK borrowers to get their finances under control.

TB

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the whole thing seems to have created a seismic shift. it's only an interest rate rise but is being treated like a major financial shock - which it will be to some, but not to most.

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  • 301 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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