WHO Poll
Q: 2017/18 Brighton (h)
a. If e can stop being the masters of our own downfall we should take 3 points, win
69%
  
b. We seem too flaky at the moment and don't expect an easy game, draw
8%
  
c. We can't put teams away and have a soft underbelly, lose
14%
  
d. Did you know that Eurovision 1974 was held in Brighton and launched ABBA onto the world stage with Waterloo
6%
  
e. I love Friday Night Football, it gives me the chance to show everyone down the local just how big a West Ham nut I am, hat, scarf, shirt, you name it I'll be wearing it
3%
  



Gavros 4:50 Wed Jun 28
Interest rates look like theyre heading up..
BoE Governor Carney saying tolerance of inflation limited....backing up Haldane's comments last week.

Replies - Newest Posts First (Show In Chronological Order)

Gavros 11:31 Fri Jun 30
Re: Interest rates look like theyre heading up..
the 10 year forward 10 year swap is still only at 1.75% and the forward sonia (ie implied base rate) is 1.5%. Mental.

Joe C 11:27 Fri Jun 30
Re: Interest rates look like theyre heading up..
Cheers

penners28 10:53 Fri Jun 30
Re: Interest rates look like theyre heading up..
barclays. up to 60% ltv. £999 fee.

First direct are doing 2.39% but that's for certain account holders I believe

Joe C 10:37 Fri Jun 30
Re: Interest rates look like theyre heading up..
Who's that through if you don't mind me asking, and what LTV did you need to have? My flat's under offer and am looking for a house at the moment

penners28 10:12 Fri Jun 30
Re: Interest rates look like theyre heading up..
just in the process of buying a house. got 2.49% over 10 years fixed

thought that was pretty decent?

Far East Hammer 9:52 Fri Jun 30
Re: Interest rates look like theyre heading up..
Interest rate rises well over-fucking-due IMHO

After all, the low interest rate policies didn't exactly work for Japan during the 90's and 00's, did they?

Only problem is, that because they've been so low for so long, the readjustment is going to be a whole lot more painful and will affect a shedload of ordinary folks who were persuaded by finance companies and sections of the media that ever-decreasing and / or perpetually low interest rates would indeed be forever.

Look at price inflation rates and interest rates over the long term. Whilst talking heads on news segments might say that increasing interest rates reduce price inflation, look at the long term data. They move more-or-less in lockstep, over a 48-60 year cycle. Have done for 200+ years.

Late 70's/ early 80's, they topped out (topped out in the UK a couple of years earlier than the US), been on the slide more-or-less ever since. Held artificially low for an extended period of time, courtesy of Greenspan and Bernanke (who together probably managed to inflict significantly more economic damage to the world than even bin Laden + Al-Zawahari). Hence economic reflation/ renormalisation, is going to be fucking painful all round.

Mike Oxsaw 10:06 Thu Jun 29
Re: Interest rates look like theyre heading up..
Yeah, but "Borrow while it's cheap!", that's the mantra, isn't it?

Borrow while it's cheap then let the parasites wade in and steal your home from you when is gets a bit less cheap and your finances are fucked.

1964 9:21 Thu Jun 29
Re: Interest rates look like theyre heading up..
ted fenton 12:40 Thu Jun 29

1964 9:06 Thu Jun 29
Re: Interest rates look like theyre heading up..
Joey Woodwork 2:16 Thu Jun 29

Well I'm sure you are trying to feel comfortable.

However history tells me it doesn't always go comfortably,

Joey Woodwork 2:16 Thu Jun 29
Re: Interest rates look like theyre heading up..
If, and it's a massive IF the rates go up, it will be the 0.25% that was the emergency cut after Brexit.

There are so many caveats to what Carney said anyway. And this time last week he was signing from a different hymn sheet.

The last MPC meeting 3 members voted for a hike, and he basically said that was nonsense.

Westside 2:08 Thu Jun 29
Re: Interest rates look like theyre heading up..
'I wonder how many people have taken out mortgages without allowing for even a moderate rate rise.'

A lot. And remember, in proportionate terms a 0.5% rise on a 1 1/2% mortgage is the same as a 1.5% rise on your (normal rates) 4 1/2% mortgage. In both events your mortgage expense rises by 33%

True if you are on an interest only mortgage, but if you have a repayment mortgage, especially towards the later years when you are repaying more capital, your total monthly mortgage repayment (total expense) won't increase by the same proportion as the increase in mortgage rates.

For example if you have say £100k, remaining on your mortgage and 15 years left and an interest rate of 1.5% and increase of 0.5% points (i.e a one third rise in your rate), this would increase your TOTAL monthly repayment from £621 to £632. Certainly not an increase in your mortgage expense of 1/3rd.

http://www.n-ram.co.uk/helpful-tools-calculators/rate-rise-calculator

dealcanvey 1:46 Thu Jun 29
Re: Interest rates look like theyre heading up..
If you are remortgaging would def look at 5+ years fixed rate.

SurfaceAgentX2Zero 12:56 Thu Jun 29
Re: Interest rates look like theyre heading up..
ted fenton 12:40 Thu Jun 29

'I wonder how many people have taken out mortgages without allowing for even a moderate rate rise.'

A lot. And remember, in proportionate terms a 0.5% rise on a 1 1/2% mortgage is the same as a 1.5% rise on your (normal rates) 4 1/2% mortgage. In both events your mortgage expense rises by 33%

Dr Moose 12:49 Thu Jun 29
Re: Interest rates look like theyre heading up..
God job my credit interest is at 0% till December 2018, I'l have paid it off by then.

Hammer and Pickle 12:48 Thu Jun 29
Re: Interest rates look like theyre heading up..
Yep

Gavros 12:46 Thu Jun 29
Re: Interest rates look like theyre heading up..
Only so many times you can cry wolf though.

ted fenton 12:40 Thu Jun 29
Re: Interest rates look like theyre heading up..
How we paid our mortgage and endowment in the 80's I'll never know but we did and now we a few bob we get feck all interest.
I wonder how many people have taken out mortgages without allowing for even a moderate rate rise.

Hammer and Pickle 12:38 Thu Jun 29
Re: Interest rates look like theyre heading up..
Now the market has shown itself to be game maybe they'll leave it at that with so little real growth and so much uncertainty around?

Gavros 12:15 Thu Jun 29
Re: Interest rates look like theyre heading up..
BoE again warning of higher rates...sterling through 1.30 v $

J.Riddle 1:42 Thu Jun 29
Re: Interest rates look like theyre heading up..
Pub Bigot 10:52 Wed Jun 2

Gawd knows mate, wish I had Jim Rogers crystal ball. I'd be a millionaire this time next year :-)

Pub Bigot 10:52 Wed Jun 28
Re: Interest rates look like theyre heading up..
J.Riddle 7:13 Wed Jun 28
Re: Interest rates look like theyre heading up..

So are we talking depression

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