Friday, March 6, 2009

It will all end in tears

0% rates beckon on mortgages and savings

Tens of thousands of borrowers will be paying nothing for their mortgage once this week’s base rate cut takes effect, widening the gulf in costs between homeowners with fixed and tracker loans.

Posted by enuii @ 10:40 PM (697 views)
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3 thoughts on “It will all end in tears

  • If the government had used simple dis-incentives and higher interest rates in 2003-2006, we wouldn’t have got this asset bubble in property !

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  • stillthinking says:

    The government doesn’t want the public’s savings in accounts they have to guarantee. They would prefer Mr.and Mrs. Public to be forced into risky financial assets so they can take the defaults.

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  • Mortgages going down to 0%? Really? The BoE base rate may be 0.5% but I can’t get a new mortgage for less than about 4%. That’s 3.5% above base rate!
    Meanwhile my savings are down to 0.16% and falling.
    What is it with these people?

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