Thursday, February 10, 2011
No pressure, guys!
UK borrowers 'must not be hit with rate rise'
The Bank of England was warned not to act in haste by raising interest rates today, as it would put the brakes on the UK's weak economic recovery. The British Retail Consortium (BRC) urged the Bank to hold its nerve in the face of mounting inflationary pressures and to protect borrowers from raised repayment costs. (so they could spend more, now)
Posted by alan @ 12:10 PM (1369 views)
7 thoughts on “No pressure, guys!”
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The Fish says:
Towel incoming…
Whether you have 1 mortgage or 10 mortgages, a interest rise of .5% will cause YOU problems.
I have 85 mortgages, if interest rates were to rise say 1% or 2% , i am affriad it will be the BANKS problem.
Low interest has helped me through a time with so many bad tenants payments. If mortgage payments were to rise to quickly, i think i would throw in the towel.
Many individuals have only got through the last 2 years because of low mortgage payments, it would not take much to tip them over the line.
So even if you do not have a mortgage, quick base rate rises would seriously affect YOU too.
NO BASE RATE RISE FOR 18 MONTHS PLEASE
– Poor Landlord, Midlands
timmy t says:
Wrong forum I think Fishy.
mr g says:
@The Fish
Two words for you sunbeam, sex and travel.
sibley's b'stard child says:
In fairness guys, he’s only copy-and-posted from the article’s comments section…
What a c*ck; 85 BTLs and still hasn’t managed to fine-tune his business model.
timmy t says:
Apologies The Fish – I never made it that far down the page!
SBC – I’d say that if his business model doesn’t work at 1.5% base rate then it needs more than fine-tuning. I’ve got a tenner that says there will 85 houses going at auction somewhere in the Midlands in the next couple of years.
sibley's b'stard child says:
True Timmy, i’m just imagining some dishevelled Brummie shaking his fist to the sky: “then you’ll be sorry!”
Ha ha, what a plank.
fallingbuzzard says:
@4, you need to have a business to have a business model. 85 BTLs doesn’t sound like a business, its an unhedged investment