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It’s a free market on deals not tied to bank base rates. The interest cost of new products to banks is determined by the (rapidly falling) swaps market rates.

Good news for anyone mortgaging or remortgaging soon, deals likely to be less than 4%. Just a few months ago I think 7% wasn’t uncommon. @Uncle Spielberg would have the lowdown.

Not disagreeing on your thoughts, but on that one bit, next to no consumers heeded that by taking out 1% fixed rate mortgages when @US et al were offering them. I wonder if the great British public including 99% of mortgaged home owners didn't realise that high inflation and interest rates were...

Martin Lewis's latest advice is: 1. If you must have certainty, fix. 2. If not and you're willing to wait for lower rate deals say in 6 months time or next year, take a variable deal now or a fix with a very short duration, taking a longer term fix if and when rates fall. Most economists feel...

Either: a) Well off parents gifting their kids big deposits. Quite a few nsc’ers have out of ISA or pension 25% tax free lump sum monies; or b) Saving like crazy for many years for a deposit. £40,000 typical? So daunting that countless young folk don’t attempt the misery required in the...

Yes, but apart from you :lolol:

I got back on the property market with a modest house in 1999. I worked with a know it all, an incredibly tight fisted bachelor, who bought a crap bungalow but in a very posh part of the city in the mid 90’s …. perfect timing if you love money. All part of his wealth making plan, he was proud...

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My flat ended up with some negative equity, it took a few years to recover then I flogged it. A slow process, finally getting rid in about 1997 I think.

Already posted in this thread a couple of months. The BOE state in interviews that these interest rate hikes are to prevent the vicious circle of secondary inflation. The first wave caused supply issues, oil prices, gas prices and the war in Ukraine. The secondary wave would be caused by...

Sept 92 is worth a mention too. The inept duo of Major (forget the cuddly Remainer persona today) and Lamont mismanaged base rates to 15%, my mortgage at the time peaked at 15.75%. In a dumbass strategy of shadowing the forerunner of the Euro the ERM, taking on global money markets and losing...

Regarding government debt, many want us to borrow far more, the arguments being: 1.To investment in more high speed rail, new roads, technology, green solutions. 2. Our state debt to annual GDP ratio is relatively low at 95%, compared to many competitors: Japan 262% Italy 151% US 128% Spain...

ITN at 10pm every Friday (Trevor McDonut) gave the week's repossession numbers and jobs lost by major company collapses/restructuring :confused:

Mine, for a few months under hopeless Major/Lamont, peaked at 15.75%. It was awful. But the differences then - house prices were 1/6th of those now in Brighton and lending multiples were almost always more sensible.

That really happened in the early/mid 90's in huge numbers. You might recall?

Other good news seldom covered, how many know this?: 1. Wholesale gas prices have plummeted. 2. The cost to the UK exchequer of the Bulb Energy company collapse has fallen from £6.5b to £260m. https://www.cityam.com/bulb-takeover-will-only-cost-taxpayer-260m-says-octopus-energy-pic/

They're already 0.5% higher than the BoE's and Jerome Powell sees rates continuing to rise until December this year...

I always said the same. Then the BoE explained that these hikes are to prevent secondary inflation. https://www.bankofengland.co.uk/explainers/why-are-interest-rates-in-the-uk-going-up The argument that they dampen a spiral of high wage increases (in effect private sector) and resulting price...

According to both the BBC and Sky News experts/interviewees, they all predict that, then graduated falls. Whilst the US Fed are going further with increases after that. Out of 27.8m UK households, this will affect: 2.9m households with a variable rate mortgage; and 1.8m households with fixed...