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  1. #21
    Resident pedant Triggaaar's Avatar
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    Quote Originally Posted by mothy View Post
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    5 year fixed at 1.99% or 10yr at 2.99%. What should I go for?
    I don't think anyone here can really answer that for you. Google and do a bit of reading on expected rate changes over the next 10 years. If you choose the 5 year option, put 100 a month into savings to cover a rate rise in 5 years if it happens.
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    • #22
      Members dazzer6666's Avatar
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      Quote Originally Posted by kingcole View Post
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      There is absolutely no need to earn just 0.25% on savings, even if you want zero risk approach. A quick look down the best buys would easily secure 4-5 times that rate, bit more if you were prepared to tie it up for a bit.

      A higher risk attitude to savings via stocks and shares could easily have returned 20 times this figure over the past year.
      Most of the 'best buy' savings accounts are conditional, linked to bank accounts, minimum monthly deposits etc and or limited to relatively small sums. Getting much more than one percent anywhere on a decent amount is difficult unless you want to tie money up for a fixed period so inflation will be eating away at the value.

      Agree re stocks and shares, but that is twenty twenty hindsight, post the Brexit vote the markets have been steaming ahead but could equally lose the same or more in the next few months.
      "Prejudice is a great time saver. You can form opinions without having to get the facts"
    • #23
      Members The Andy Naylor Fan Club's Avatar
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      Quote Originally Posted by mothy View Post
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      I'm looking at mortgages. They've gone down since I last looked 6 months ago. 5 year fixed at 1.99% or 10yr at 2.99%. What should I go for? 100 a month for peace of mind that I can live in my house for the next 10years (instead of 5)
      We remortgaged last year on a fixed 2.99% for 10 years. I was aware that there were other better short term deals, but in the long run I know what my mortgage payments are going to be and that gives me peace of mind.
      When you are out and about, if you see someone without a smile, give them one of yours.
    • #24
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      Quote Originally Posted by Triggaaar View Post
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      I don't think anyone here can really answer that for you. Google and do a bit of reading on expected rate changes over the next 10 years. If you choose the 5 year option, put 100 a month into savings to cover a rate rise in 5 years if it happens.
      True & good advice. Sadly the 100 save it option isn't one that happens very well in my house..
    • #25
      Harry Wilson's Tackle Harry Wilson's tackle's Avatar
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      Quote Originally Posted by knocky1 View Post
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      You can always save money, if you have it. That money will be worth less in the future if the rate of inflation is greater than the rate of interest.
      Quite. And if the interest rate offered at Nat West is meaningfully bigger than the inflation rate. As it was in the lat 80s and early 90s. Great if you have paid for the house and have cash in the bank (er, like me) but shit for everyone else (like, er, me in, er the late 80s and early 90s). I would have to be a very selfish **** indeed to wish for a 'revisit' and a bit of schadenfreude....
    • #26
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      Quote Originally Posted by Harry Wilson's tackle View Post
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      Quite. And if the interest rate offered at Nat West is meaningfully bigger than the inflation rate. As it was in the lat 80s and early 90s. Great if you have paid for the house and have cash in the bank (er, like me) but shit for everyone else (like, er, me in, er the late 80s and early 90s). I would have to be a very selfish **** indeed to wish for a 'revisit' and a bit of schadenfreude....
      Having been able to retire in 1997, I am fortunate to be having trouble with non housing investment beating inflation for the last 2 years. May invest the lot in plutonium and uranium miners with a little on alternative health products for radiation.
    • #27
      Harry Wilson's Tackle Harry Wilson's tackle's Avatar
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      Quote Originally Posted by knocky1 View Post
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      Having been able to retire in 1997, I am fortunate to be having trouble with non housing investment beating inflation for the last 2 years. May invest the lot in plutonium and uranium miners with a little on alternative health products for radiation.
      Nice 'ethical' investment strategy. Hats off!
    • #28
      Resident pedant Triggaaar's Avatar
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      Quote Originally Posted by mothy View Post
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      True & good advice. Sadly the 100 save it option isn't one that happens very well in my house..
      Make a standing order to an account no one has immediate access to.
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