0% interest

[Ravello]

WHS.

No one remembers what deflation is like (apart from the Japanese...) because it hasn't been around since 1939...

Do the Japanese just have better memories Zeity?

[SallyAnne]

Papers are speculating we are going to have 0% interest next year.

Wooohooo - free mortgage!!!!!

All our spare cash wil be going on paying £2k off the house every month, and these will forever be know as "the best of times"

[Doggy Styles]

The banks are holding out against passing the low base rates on to house-buyers, and for the good reasons we discussed before.

[Iron Condor]

and these will forever be know as "the best of times"

Agree, it hardly feels like a credit crunch if you will soon be paying 0.5% (a year!) for your mortgage!

I got fed up with the whole remortage every two years malarkey and took a lifetime base rate+0.5% tracker back in 2005.

Soon my mortage interest payments will be half my council tax payments.

[Platypus]

This economic model is buggered.

At 0% I wonder if the banks will significantly up their fees for everything.

Or businesses will have to give up a share in exchange for a cash injection?

"Will" up their fees ????

They have done - look at credit card rates (25% plus) and loan rates (15% plus)

P.S. these rates only available to existing customers!

[ratewhore]

I got fed up with the whole remortage every two years malarkey and took a lifetime base rate+0.5% tracker back in 2005.

Result!! My mortgage is up late next year, it remains to be seen what I can get but I want a long term repayment mortgage at a cheap rate.

Even SVR will be less than my present fixed rate...

BOOMED I tell yer!!

[Purple Dalek]

Result!! My mortgage is up late next year, it remains to be seen what I can get but I want a long term repayment mortgage at a cheap rate.

Even SVR will be less than my present fixed rate...

BOOMED I tell yer!!

I wouldn't wait too long to swap to a fixed rate.

Also make sure the fixed rate is really fixed. Not one of these, it's fixed but if the base rate passes X you're right back on a variable. Look for something with 25 year bonds (in McDs) behind it or some such.

With the current incumbent bunch of clowns hyper-inflation is soon to come blasting through.

[BrilloPad]

WHS.

No one remembers what deflation is like (apart from the Japanese...) because it hasn't been around since 1939...

But you remember it dont you?

Is it true that on your birth certificate your parents are called Joseph and Mary?

[Bagpuss]

Wooohooo - free mortgage!!!!!

All our spare cash wil be going on paying £2k off the house every month, and these will forever be know as "the best of times"

No Bank will offer 0% mortgages or 0.5% for that matter. Many aren't even passing on the latest 1 % cut because they want to recapitalise

[Mich the Tester]

If you can miss your money for 5 years, put your savings in Rabobank at 4.5% in euros; if there’s deflation you’ll do quite nicely. It’s also possibly the safest bank in the world, with almost no exposure to US mortgage tuliptyness, no shareholders (it’s a cooperative owned by it's account holders) and it’s guaranteed by the Dutch state, which, unlike Gordon’s bunch of fools, still has a very good credit rating.

www.rabobank.com

ps, no I don’t work for them but I do bank with them; if you’re genuinely concerned then they’re a trustworthy bunch.