Reply to: interest rate up

[zeitghost]

Mine isn't that either, especially since I've never had one in the first place...

[dmini]

Who has an average mortgage of £80k? I would have thought the real average would in fact be 4 times that?

Mailman

Mine isnt that - it's half of that!

[Emperor Dalek]

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.

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.

[expat]

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...

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.

[zeitghost]

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...

[hattra]

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.

That'll teach me to go and have my supper and not press F5 when I get back - thanks buffoon - Nov 1979 17%.

Still - proves my memory's still working

[hattra]

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)

[Buffoon]

This explains some of it.

http://www.statistics.gov.uk/article...604CPI1750.pdf

[Joe Black]

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...

[Buffoon]

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.

[Joe Black]

Golden Wednesday, forgot about that one, it's the new black innit.

[sasguru]

They didn't go beyond 10%. I think 15% was proposed but never happened.

7% is the historic average remember

How old are you? They did, for a day, if I remember correctly. Golden Wednesday.

[lws]

Come back good old days of 15%. That should sort the market out and let us cash rich types make a killing .....

They didn't go beyond 10%. I think 15% was proposed but never happened.

7% is the historic average remember

[Francko]

Come back good old days of 15%. That should sort the market out and let us cash rich types make a killing .....

I have seen interest rates way higher than that...

[zeitghost]

Come back good old days of 15%. That should sort the market out and let us cash rich types make a killing .....

Now yer talkin'