Interest rates

[Broccers]

Still too low

What would you say they'll be in the UK end of next year - 3.5 percent?

Folks moaning about these tiddly rises have no clue. People I know actually shared tin baths and only bathed twice a week. Those folk can tell you about hardships. My and following generations have been spoiled for many years. Maybe learning to cook and being frugal might be long term benefits.

The US may be worse off than us tho

https://www.zerohedge.com/economics/eng ... ppens-next

[Carlos]

I've read lots of institutions expecting 2% by the end of this year.

If that doesn't cool inflation I'd expect a similar pattern next year.

[Mito Man]

I sometimes wonder wtf the government want. People save money and they bitch and moan, and then people spend too much and they bitch and moan

Regardless of interest rates they’re all waiting for the inevitable recession to hit and Sunak is practically gagging for it, everyone buying a caravan and new house wasn’t going to be sustainable for more than a few years.
Just better hope that it’s a worldwide recession as that’s the only way prices will fall across the board.

[Matty]

End of my mortgage fixed deal is January, so that'll be a nice increase in my planned mortgage payments

6 months earlier and I'd have been much better off.

[Broccers]

There were people actually saying if they rise any more they'd be bankrupt. Also noone warned them so how were they to know?

It's fairly inevitable when something is more or less zero it's only going one way in the future.

Just how much tho who knows but realistically they should be about 4 to 5 percent right now.

[Carlos]

End of my mortgage fixed deal is January, so that'll be a nice increase in my planned mortgage payments

6 months earlier and I'd have been much better off.

Some lenders offer a new incentive up to 6 months before your existing deal ends. It's usually 3 or 4 months before but worth asking.

[Rich B]

Yeah, we secured our remortgage deal ages ago (4-5 months) just in case the rates went up. 5 year fixed term again!

[Swervin_Mervin]

Yeah, we secured our remortgage deal ages ago (4-5 months) just in case the rates went up. 5 year fixed term again!

Same. TSB allowed us to sign up back in Dec and we only switched over at the beginning of May.

[Broccers]

So do we think 5 percent? The higher the better for me.

[mr_jon]

5% = recession.

[Broccers]

5% = recession.

Seems likely to happen to me.

I don't think theres a thread on the ENERGY FUEL CRISIS but may as well be lumped in with the cost of living as interest rates form a major part.

Out of curiosity the other day I did martin lewis calculator thing for heating and electric - it really is quite a lot compared to before but then it was a lot less than before before as previously there was no competition - which is right back where we are now. As soon as prices slide the consumer's price wont - as we have seen at the pumps.

Who realistically is going to get a 18 percent pay rise next year?

Pubs / going out are going to have a bitter hard winter apart from Spoons which will be where everyone goes to nurse that all day refillable cup of coffee.

As for rates and houses - there surely has to be a drop - they can't keep on printing money. Which brings us back to interest rates - 8 percent would be realistic in this environment - but that will cause chaos as kids weren't warned of this and negative equity when taking out mortgages


Some realistic figures in this thread and the expected comments too

[John]

Be nice if the banks upped the savings rates a bit too.

[Beany]

I passed my probation. They're fucking stuck with me now

[mik]

I passed my probation. They're fucking stuck with me now

Nothing in the criteria to demonstrate an ability to post in your own threads then?

[IanF]

I passed my probation. They're fucking stuck with me now

Nothing in the criteria to demonstrate an ability to post in your own threads then?

[Broccers]

I passed my probation. They're fucking stuck with me now

Zero interest here

[Broccers]

Be nice if the banks upped the savings rates a bit too.

Yeah like to 7 percent

[Beany]

I passed my probation. They're fucking stuck with me now

Nothing in the criteria to demonstrate an ability to post in your own threads then?

How in the name of fuck did I manage that???

I'd not even had a drink FFS.

[IanF]

Nothing in the criteria to demonstrate an ability to post in your own threads then?

How in the name of fuck did I manage that???

I'd not even had a drink FFS.

Happens to us all ol’ Bean

[Explosive Newt]

We had an agreement in principle for a 1.6% mortgage back in March - because that sale fell through we're now 3.38%. Annoying but I recall my parents paying rates of 9% so I guess we have to be grateful!