Interest rate rise on the cards

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RTRsBM said:
Possibly not but at the time I thought the people queuing at Northern rock were morons. Seems they had the right idea. Can't imagine going to the cashpoint and there being no money. The toxteth riots would gave looked like a picnic in comparison to what was likely to happen
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Keep some gold sovereigns handy for next time, don't have all of your cash in the banking system.

monkeytassle said:
yes mate, I thought my whole industry had disappeared in the space of 3 days
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Fairy nuff, you should maybe join a union in case it happens again? Spare a thought for workers in heavy industries who saw their livelihoods taken away from them?
 


monkeytassle said:
erm yes, I do. I'm not sure why you think I haven't...
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Workers in the City/financial services didn't seem to be too fussed when the economy booms.

Other sectors and professions have seen busts and have had to deal with them.

Not an attack on you, and I realise that you didn't have influence on the shenanigans of the 80s for instance.

But nobody is immune from the larger forces at work in this world.
 
Stevie Freestein II said:
Before the 2010 election I was convinced that the tories would hike up rates if they formed a government so I fixed my mortgage.

You just can't tell what's going to happen so the best you can do is make an informed decision at the time.
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Same, paying for it now like. At least I know I can afford my payment though.
 
Stevie Freestein II said:
Make hay while the sun shines to cover the busts. This is simple home economics but for some reason the Labour government didn't grasp the principle.
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I've just gone out and bought gold sovereigns from the shop at the bottom. I hope you're going to accept them as payment on your bus
 
monkeytassle said:
rates are only going in one direction from here mate that's for sure. I read an open letter from the chariman of nationwide last month....1 million borrowers have NEVER faced a rate rise. that's a bit scary.

seems like q1 or q2 2015 is the current best guess.

I'm not even sure they move in 25bp increments given how leveraged the mortgage market is.

what are the govt thinking allowing 5% deposits on first time buys up to 600k....
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It's bought them the next election mate.
 
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