ECB Rate Cut

MugsGame

Frequent Poser
Messages
2,482
Another blow to saving rates, now well below inflation. That's just great.
Just wait for the cost of the deposit guarantee to be priced in to savings rates too. And the budget tax changes next week may further reduce the effective return. Not happy!
 

MikeySligo

Registered User
Messages
17
It'd be some job to revalue all the properties mortgaged on trackers anyway. I'm still ok as we built on land we owned, but you'd wonder for how much longer if prices keep falling.
 

Towger

Frequent Poster
Messages
2,126
Another blow to saving rates, now well below inflation.
It has crossed my mind that they might be trying to introduce a period of high inflation. This would have the net effect in real terms of reducing loan repayments, as happened in the 70s.
 
G

Guest116

Guest
I think the Terms and conditions mentioned a possibility of revalue after 3 years or every 3 years. Must recheck them.
Yeah I remember something on that, but I thought it actually said the mortgage holder (i.e. you) have the option to get your house revalued. Didnt think it said NIB can force a re-value or that they can re-value it themselves.
 

QED

Frequent Poster
Messages
223
Could this be the fastest growing Thread ever on AAM?
50 Replies and over 1,500 views in 2.5 hours - not bad.

There is an air of panic in the past few days with another Master Plan or two being unleashed every day but with little or no effect.

If only we could get all the Bankers & Traders & Regulators & Governments in the world to take a week off to go to the Naughty Step and think about what they've done!!
 

MichaelDes

Frequent Poster
Messages
431
It has crossed my mind that they might be trying to introduce a period of high inflation. This would have the net effect in real terms of reducing loan repayments, as happened in the 70s.
This is my primary concern and think high inflation will occur. Inflation is a disease and wipes out the earnings and savings of the middle classes.
 

Voda

Registered User
Messages
45
To those wondering when the rate cut will kick in - I've a tracker with EBS and I just rang to ask them and they said it will be in November's payment and they're sending out letters stating your new payment in the next week or two...
 

contractor

Frequent Poster
Messages
107
Could this be the fastest growing Thread ever on AAM?
50 Replies and over 1,500 views in 2.5 hours - not bad.

There is an air of panic in the past few days with another Master Plan or two being unleashed every day but with little or no effect.

If only we could get all the Bankers & Traders & Regulators & Governments in the world to take a week off to go to the Naughty Step and think about what they've done!!
A week off yes, but this is no naughty step!
 

TwoWheels

Frequent Poster
Messages
133
So if I am on 5.99% with IIB on a Variable mortgage, would I be too optimistic to hope that it will drop to 5.49 next month ?
 
Top