Interest Rates
- Thread starter jowwy
- Start date
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fossyant
Ride It Like You Stole It!
- Location
- South Manchester
No effect as such as I've no mortgage now. Paid off a few years back (very fortunately). Do worry about sister and brother with huge feck off mortgages. Brother has a business one also (dentist).
Regular.Cyclist
Über Member
- Location
- East central Scotland 🏴
I’m fixed until 2032.
Getting better return on my savings now.
Getting better return on my savings now.
Thats a long fix......
Regular.Cyclist
Über Member
- Location
- East central Scotland 🏴
I got an excellent rate for fixing for that length of time so was a no-brainer.
MontyVeda
a short-tempered ill-controlled small-minded troll
- Location
- Lancaster... the little city.
I haven't got a mortgage
Jenkins
Legendary Member
- Location
- Felixstowe
ebikeerwidnes
Guru
- Location
- Z’ha’dum
I would be better off if the saving rates increased
They have gone upa bit recently - saw 3% for 3 year fixed recently
Funny how they always lag by a long time and then go up but half the increase???
But we are worried about my wife's son and his partner - they seem OK for money but with 3 kids I can;t see they are not having problems
I have noticed they have gone from Alta Rica coffee to normal Nescafe!
They have gone upa bit recently - saw 3% for 3 year fixed recently
Funny how they always lag by a long time and then go up but half the increase???
But we are worried about my wife's son and his partner - they seem OK for money but with 3 kids I can;t see they are not having problems
I have noticed they have gone from Alta Rica coffee to normal Nescafe!
gbb
Squire
- Location
- Peterborough
Told this one before but during the mid 2000s when interest rates were high, a colleague had a new build. As the rates fell I said to him...that must be saving you some cash ? He said you can't imagine from the worst of it to where it is now, I'm saving nearly £1k a MONTH 
.
No mortgage for me, all paid off and have fairly significant savings. I remember the interest we got years ago was a really nice bonus...that was on fairly modest savings at that time. Looking forward to seeing some of that again.
.No mortgage for me, all paid off and have fairly significant savings. I remember the interest we got years ago was a really nice bonus...that was on fairly modest savings at that time. Looking forward to seeing some of that again.
figbat
Slippery scientist
- Location
- South Oxfordshire, UK
We totally fluked it by fixing in a 5-year deal earlier this year so interest rate rises only mean increases in savings account rates with no extra outgoings. The 5-year deal will just about see us out of the mortgage, or close enough to pay it off if a new deal is not forthcoming.
Deleted User
Guest
- Location
- Wolverhampton
Paid off a while ago so not really bothered, might get a bit more interest on savings I suppose.
Kids will struggle but that's where we come in.
Kids will struggle but that's where we come in.
Regular.Cyclist
Über Member
- Location
- East central Scotland 🏴
We were close to paying off our mortgage but then made a move a few years ago into a significantly higher value property. Got a good fixed rate on the first 3 years and then secured a 10 year fixed at very close to the previous year rate. Mortgage is well within our household income and we will be overpaying for the next 10 years so it will be payed off at the end of it.
At the moment there isn’t a significant enough difference between keeping money in savings bs paying off the mortgage much quicker and , as rates increase, we may be more likely to keep more funds in savings for a bit longer. Excel being used heavily and will determine how we handle things.
At the moment there isn’t a significant enough difference between keeping money in savings bs paying off the mortgage much quicker and , as rates increase, we may be more likely to keep more funds in savings for a bit longer. Excel being used heavily and will determine how we handle things.
fossyant
Ride It Like You Stole It!
- Location
- South Manchester
One of the things we did when we took out our mortgage in the mid 90's was to model interest rates going up to 12% or 14% to see if we could mange. We could have just managed it eating beans. Fortunately it never went that high again, but it's those 'younger' than most of us on here with £300k plus mortgages that will really suffer.
