Reply to: A big rate cut at last !!?? I hope........

[Cyberman]

So if you save 2.5% over a year - which equals £3000 - your mortgage is £120k?

Pretty close !!!

[BrilloPad]

Interest rates do make a big difference to Mr Average. He works for the Average company that borrows and he borrows himself for his mortgage. I am amazed that you can say interest rates make no difference. I am paying 4.5%on my mortgage which would be 7% if I had not switched from the Abbey. That is a lot of dosh difference!!!! 3,000 pounds a year in fact.

Personally, I pay off my credit card every month. Nobody in their right mind should borrow longterm on a credit card.

So if you save 2.5% over a year - which equals £3000 - your mortgage is £120k?

[TykeMerc]

sympathy mate.

Is it pie in the sky for someone to say ' I never have had and never will use a credit card' ?
Is it possible that people who say that have just been plain lucky so far, and dont really have a clue ?

Pretty much yes.

[EternalOptimist]

I agree, but then circumstances kicked me hard while I was down.

Life can suck.

sympathy mate.

Is it pie in the sky for someone to say ' I never have had and never will use a credit card' ?
Is it possible that people who say that have just been plain lucky so far, and dont really have a clue ?

[Platypus]

Nobody in their right mind should borrow longterm on a credit card.

I agree, but then circumstances kicked me hard while I was down.

Life can suck.

[Bob Dalek]

Interest rates do make a big difference to Mr Average. He works for the Average company that borrows and he borrows himself for his mortgage. I am amazed that you can say interest rates make no difference. I am paying 4.5%on my mortgage which would be 7% if I had not switched from the Abbey. That is a lot of dosh difference!!!! 3,000 pounds a year in fact.

Personally, I pay off my credit card every month. Nobody in their right mind should borrow longterm on a credit card.

Sadly, I can vouch for that.

[Cyberman]

You are obsessed with interest rates, yet I noticed on a credit card statement I received today that the APR (on a platinum card) is 22% for purchases.

Anyone who owed on loans and cards is screwed regardless of interest rates. You seem to assume that the mortgage is the only form of borrowing people have. That might be true on this board but not in the real world where the majority live.

EDIT: in other words, rates cuts will make NO DIFFERENCE to Mr. Average

Interest rates do make a big difference to Mr Average. He works for the Average company that borrows and he borrows himself for his mortgage. I am amazed that you can say interest rates make no difference. I am paying 4.5%on my mortgage which would be 7% if I had not switched from the Abbey. That is a lot of dosh difference!!!! 3,000 pounds a year in fact.

Personally, I pay off my credit card every month. Nobody in their right mind should borrow longterm on a credit card.

[EternalOptimist]

Does that work??

are you busy tonight ?
would you like to borrow £20

[shaunbhoy]

It's because I am a modern man. i.e. I pretend to be equal in order to get more bj's

Does that work??

[Platypus]

After a year of me saying that we needed big rate cuts to AVOID recession after the moneymarkets dried up, we have delayed and delayed. Now that we are actually in a recession it looks like we will get those big cuts very soon.

Yet more evidence of Labour dithering their way to disaster.

You are obsessed with interest rates, yet I noticed on a credit card statement I received today that the APR (on a platinum card) is 22% for purchases.

Anyone who owed on loans and cards is screwed regardless of interest rates. You seem to assume that the mortgage is the only form of borrowing people have. That might be true on this board but not in the real world where the majority live.

EDIT: in other words, rates cuts will make NO DIFFERENCE to Mr. Average

[EternalOptimist]

Me too. Why have you allowed a woman access to the family funds? Why is she not in the kitchen where she belongs?

It's because I am a modern man. i.e. I pretend to be equal in order to get more bj's

[shaunbhoy]

I borrowed £20 from the missus on Wed night so we could go to the quiz. Thank god I managed to pay it back yesterday before interest rates went up. or down. I'm confused.

Me too. Why have you allowed a woman access to the family funds? Why is she not in the kitchen where she belongs?

[EternalOptimist]

I borrowed £20 from the missus on Wed night so we could go to the quiz. Thank god I managed to pay it back yesterday before interest rates went up. or down. I'm confused.

[Peoplesoft bloke]

You are not allowed to say that without a link because that is a lie........

Ooooooooooooooo someone's broken CyberTory's rules. That's "not allowed".

[Cyberman]

You've said it many times, CUK be my witness! But I really cannot be arsed to search, what would it prove over that we already know?

You are not allowed to say that without a link because that is a lie. I would never advocate low interest rates in a boom period. Inflation is the priority.


Zara !! Where are you ???!!!