Interest Rate Cut coming

[My Boy Harry]

Excellent news. It’ll be cheaper to borrow now. Will be able to spend, spend, spend again.

Not quite. there will be something to do with Trump, The tories, BREXIT or IDS that will no doubt spoil it so dont get too happy. A socialist will be along to spoil your day any second now.

 

[AndrewP]

Yet the young can’t get on the property ladder ,which is an absolute load of bollocks .Never been a better time to buy a first time home in the north of England .

2000 was loads better.

 

[Mainze]

Brexit going well then.

Waaaaaaaaahaaaaaaaaaaaaaaay

 

[Gillythedilf]

2000 was loads better.

Don’t think the interest rates where as low from memory.What I do remember being useful for self employed folk like myself was self cert mortgages.Mental when you think about it the punter more or less underwriting his own mortgage without proof of income.

 

[42]

Don’t think the interest rates where as low from memory.What I do remember being useful for self employed folk like myself was self cert mortgages.Mental when you think about it the punter more or less underwriting his own mortgage without proof of income.

Base rate was around 4.5% iirc, but houses were half the price to now so deposits were easier. Also as well as self certs there were 100% mortgages available so didnt even have bother with deposit.

 

[TopCat]

2000 was loads better.

God Bless Northern Rock and their 120% mortgages.....

 

[42]

Imagine thinking an interest rate cut is bad.

Its only good for current home owners with mortgages really.

Having higher rates puts a downward pressure on the actually property price over the longer term.
Also tends to strengthen the currency so holidays are cheaper.

 

[pillars of hercules]

I can apply for a loan on the Barclays app on my phone and get it in the bank straight away. It's mental.

I got a low interest one over the phone from the bank and was in my account in an hour.

I went to Currys last week with my daughters. One is a student midwife and worked part time. She got £5000 credit straight away. My other daughter who is on benefits didn't have ID with her and wanted a new Ipad. She asked me to get it for her and I was turned down for credit . I felt crap.

 

[monkeytassle]

Don’t think the interest rates where as low from memory.What I do remember being useful for self employed folk like myself was self cert mortgages.Mental when you think about it the punter more or less underwriting his own mortgage without proof of income.

Self certs are ideal for a bank. If the borrower defaults they get a house in the cheap.

 

[the boot]

Don’t think the interest rates where as low from memory.What I do remember being useful for self employed folk like myself was self cert mortgages.Mental when you think about it the punter more or less underwriting his own mortgage without proof of income.

I got my first mortgage like this. £3k down nee books nee nowt. Just told the bloke what I earned. Scary when I think back.
My mate was in bother at the time and was selling a rental cottage down southwick. He wanted the £19k he owed on the mortgage and I said no!!!!! He sold it for 55 about 2 year later.

 

[Bob Fleming]

Will hopefully be buying this year so should be good news. The money in the bank is earning fuck all anyway.

 

[HABA87]

2000 was loads better.

Houses round my neck of the woods in 2000 were about 1/3 of what we paid in 2012. Regardless of interest rates, that was a great time to buy. Shame I wasn't on it...

 

[MarcoGoalo]

Just had an email from my bank today advising of an interest rate cut to my savings accounts.

Tends to coincide with a base rate reduction so the OP could be onto something.

 

[monkeytassle]

50/50 chance of a raté cut today

 

[ozz]

50/50 chance of a raté cut today

What do you reckon about exchange rates over the next couple of days?

 

[Old Prestonian]

What do you reckon about exchange rates over the next couple of days?

Heads or tails?

 

[ozz]

Heads or tails?

it is like that- without the potential interest cut i would have expected sterling to rise- it still might. wont be gambling though !

 

[monkeytassle]

What do you reckon about exchange rates over the next couple of days?

I think they cut today tbh so in theory pound should weaken. It really is 50/50

 

[Hair Flick]

it is like that- without the potential interest cut i would have expected sterling to rise- it still might. wont be gambling though !

It had a mini surge against the $Aus so I sent some over to my daughter. € is up & down this morning so just watching it for now

 

[DisillusionedOldGit]

Is it to make it easier for British banks to loan money ? To piss the frankfurters off ?