BOE Interest Rate is UP

[ChimpMaster]

£ is weaker because the market looks forward not backwards. The 0.25% hike was expected. The view now is that there won't be another hike for some time, according to BoE minutes.

[pmeswani]

Time for some QE. I need to roll in the money.

[MarillionFan]

YES!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!!!!!!!

I hear the sound of bailiffs repossession cars setting off all around England.

[Pip in a Poke]

Ooooh look - I get to do my first KUATB!

[AtW]

So what are the chances that banks will actually increase savings rates?

[BrilloPad]

Ooooh look - I get to do my first KUATB!

As that user. Gricer had a few.

[BrilloPad]

So what are the chances that banks will actually increase savings rates?

Less likely than the chances of increasing borrowing rates.....

[NigelJK]

Unless my mathematics is off, a .25% increase in loan repayments is £250 per £100,000 loaned per year. Can't see too many repossessions on that, but I'm willing to bet that will be one of the shock horror headlines.

[northernladyuk]

BOE Interest Rate is UP @ 0.5% "due to post Bexit vote inflation"

[WTFH]

Unless my mathematics is off, a .25% increase in loan repayments is £250 per £100,000 loaned per year. Can't see too many repossessions on that, but I'm willing to bet that will be one of the shock horror headlines.

It's the people who have interest only mortgages and are running close to the wire who will feel it first.

If you're one of these BTL people who have, say, 10 houses, each with a £200k mortgage on them, that's £5k a month extra interest. At least for the ones with a repayment, the value of the loan has gone down as well so they can play with the figures a bit more.