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spitfire
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spitfire is offline
Warwickshire
Joined: Jul 2012
Posts: 29,878
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17-06-2014, 11:48 AM
41

Re: Interest rates to rise..

Originally Posted by Losos ->
You've missed the point, what Grumblewagon is trying to say is that at present the interest you get on your savings does not match inflation so £1,000 on January 1st. 2014 becomes £965 after tax on January 1st. 2015

So after paying all the many types of taxes and duties that Grumblewagon has to pay you expect him to give away a further £35 just so the 'buy to let' landlords can continue in business - no way.

Incidentally I can guarantee that when rates do start to go up it will a long and slow process. I predict that by 2020 base rate will be around 2 to 2.5%

If any of you are still here in 2020 you can post on here and tell me if I'm right or wrong (You might need a hot line to God to do so of course )
I don't give a Tom Tit about Buy to Let Landlords, what I do give a Tom Tit about is the impact on the Housing Market (which our Fragile economy seems to be based upon) hits the skids because of the influx of Repos due to tenants not being able to meet the increased rents, required to cover the increased mortgage repayments on the property.
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Nobaggage
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Cornwall UK/ Carcassonne France
Joined: Feb 2013
Posts: 1,862
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18-06-2014, 05:55 PM
42

Re: Interest rates to rise..

I havnt read all of this but adding to page one ... when interest rates sunk to an all time low for my life time , we put most our savings into Premium Bonds , between the 2 of us we get on average of 50 to 300 in winnings each month .. which has been alot more than we have recieved on the rest sat in the bank.....To many people stick with the same old bank all their life and never look for better places to put their money ...
orangutan
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Another world
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18-06-2014, 07:52 PM
43

Re: Interest rates to rise..

Originally Posted by Nobaggage ->
I havnt read all of this but adding to page one ... when interest rates sunk to an all time low for my life time , we put most our savings into Premium Bonds , between the 2 of us we get on average of 50 to 300 in winnings each month .. which has been alot more than we have recieved on the rest sat in the bank.....To many people stick with the same old bank all their life and never look for better places to put their money ...
Bet that was before they halved the minimum win to £25! If not, you have been very lucky indeed!
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Nobaggage
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Nobaggage is offline
Cornwall UK/ Carcassonne France
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18-06-2014, 08:00 PM
44

Re: Interest rates to rise..

No i talking about now still... this month 150 last month 100 , cant remember the exact amounts before that but always a min of 2 x25
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venus
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Cheshire UK
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19-06-2014, 12:25 PM
45

Re: Interest rates to rise..

no baggage I agree with you. Premium bonds have given me more income than the bank, this year.
Tuesday I went along to my town with the intent of shopping around for best interest rates. I walked out of my own bank due to the attitude of the young lady who served me. I came home angry and disgusted with the interest rates being offered by banks and building societies. Rant over
orangutan
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Another world
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19-06-2014, 02:44 PM
46

Re: Interest rates to rise..

Originally Posted by Nobaggage ->
No i talking about now still... this month 150 last month 100 , cant remember the exact amounts before that but always a min of 2 x25
I'm jealous! I have had £100 occasionally but usually only £25 and sometimes nothing.

Still, as venus said, the banks offer diddly squat anyway...
ventura
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ventura is offline
Midlands
Joined: Jul 2014
Posts: 10
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05-07-2014, 08:15 AM
47

Re: Interest rates to rise..

I think high interest rates are a thing of the past unfortunately, if they do go up it will not be by much. I think that my children although owning their own homes, will never be in a position to have savings, my grandchildren will probably never be able to get on the property ladder as they get into a volatile job market so late. I worked since I was 15 and never had any difficulty getting jobs. How things change.
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Grumblewagon
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Aberdeenshire
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05-07-2014, 01:28 PM
48

Re: Interest rates to rise..

Ventura, I think that you paint an unnecessarily bleak picture. Certainly things have changed, but having your own home and modest savings are still within the grasp of many.
 
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