Rates cut to 0.5%
Discussion
Bing o said:
illmonkey said:
Mortgage down an other £70 a month. Whilst its not great news for everyone, its giving me a good chance to shove loads into savings.
Why aren't you paying down the Capital instead?What will you do when interest rates are at 7 or 8%?
What return are you getting on your savings?
If I put the money into the mortgage, then I wont see it if I get made unemployed.
I'm not that worried about making interest on the money, just happy I have some saved up! Once I get a fair amount, I'll dump some on the mortgage.
_James said:
JagLover said:
Skipppy said:
But correct...
Why though? IT'S NOT WORKING!
.....It is penalising savers ....Why though? IT'S NOT WORKING!
illmonkey said:
Bing o said:
illmonkey said:
Mortgage down an other £70 a month. Whilst its not great news for everyone, its giving me a good chance to shove loads into savings.
Why aren't you paying down the Capital instead?What will you do when interest rates are at 7 or 8%?
What return are you getting on your savings?
If I put the money into the mortgage, then I wont see it if I get made unemployed.
I'm not that worried about making interest on the money, just happy I have some saved up! Once I get a fair amount, I'll dump some on the mortgage.
MitchT said:
Trying to solve a problem by creating more of what caused it. Hmmm. Perhaps their next trick could be to suggest that the fire brigade start using petrol instead of water.
So should an obese person be taken off food full stop?What got us into this mess was a lot of things, one of which was bad lending. Lending in itself wasn't the cause.
Racingdude009 said:
Or savers withdraw money to spend it on cars, holidays, house improvements ect.
Also people borrowing to do the same result economy comes out of recession.
Do you think it's a good thing for society generally if everyone disposes of their savings to spend on cars, holidays etc?Also people borrowing to do the same result economy comes out of recession.
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