Golden Wednesday, forgot about that one, it's the new black innit.
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Official BoE rates.
http://213.225.136.206/statistics/rates/baserate.pdf
Check out 1979 for high.
For Black / Golden Wednesday see note 2 on first page.Drivel is my specialityComment
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An interesting find Mr B, particularly the historical part.
If I'm reading it right, then from something like 1694 until the early '70s the UK had single digit, not too high, interest rates. From then onwards it went to hell in a handbasket until finally, come John Major in 1992, it was starting to get better again.
I'll leave it to the politicians to argue over why their was such a hiccup...
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Drivel is my specialityComment
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I'm pretty certain I remember mortgage rates at 16% around about 1979-80 IIRC I had a mortgage for about £16000, and I was paying about £380 a month (yes, I had an endowment mortgage
), which was a lot, cos I was only taking home about £600 a month (fortunately the former Mrs. hattra was earning about the same)
Life is just nature's way of keeping meat fresh
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That'll teach me to go and have my supper and not press F5 when I get back - thanks buffoon - Nov 1979 17%.Originally posted by Buffoon
Still - proves my memory's still working
Life is just nature's way of keeping meat fresh
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And in those days you usually had to save with a building society for a year or so before they'd even consider giving you a mortgage...Comment
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That's not a bad idea: if you have trouble finding in in your budget to save, maybe you can't find it for a giant loan either.Originally posted by zeitghostComment
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Why should the bank give a tulip? If it all goes tits up they can just take your house off you and sell that at a monster profit. In fact, that's the outcome they'd probably prefer.Originally posted by expatComment
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Mine isnt that - it's half of that!Originally posted by MailmanWho has an average mortgage of £80k? I would have thought the real average would in fact be 4 times that?
Mailman
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