[Finance] 6% Bank Rate is good news for savers

[Uncle C]

In the UK about 6.8% of people have mortgages.

By comparison about 61% of people are savers, some of which may be hitting the breadline.

So any rise in income to this long forgotten majority is surely good news.

 

[Machiavelli]

Proves just how old and out of touch you are with the way those that aren't are struggling as a result of government policies.
I'm 54, have worked for 35+ years, and have a reasonably modest income and yet still have no savings. And here you are, gloating.

 

[pb21]

It's 5%

 

[Dick Swiveller]

Have you hit your head? How many fingers am I holding up?

 

[Nobby Cybergoat]

In the UK about 6.8% of people have mortgages.

By comparison about 61% of people are savers, some of which may be hitting the breadline.

So any rise in income to this long forgotten majority is surely good news.

6.8% of people have mortgages?

 

[Dick Swiveller]

It's 5%

You left alone 6.8% of people having mortgages? I'm off to contact the Hadron Collider people to help find the small piece of humour there is presumably supposed to be in this mess of a post.

 

[JBizzle]

In theory, yes. Any ideas when those rates will actually become available top savers?

 

[sparkie]

In the UK about 6.8% of people have mortgages.

By comparison about 61% of people are savers, some of which may be hitting the breadline.

So any rise in income to this long forgotten majority is surely good news.

Luckily I'm not particularly impacted directly in any way by these rate rises - but if I had a mortgage and was potentially in big trouble I'd be pretty annoyed by this post.

 

[pb21]

You left alone 6.8% of people having mortgages? I'm off to contact the Hadron Collider people to help find the small piece of humour there is presumably supposed to be in this mess of a post.

What an absolute mess of a post from the OP

 

[Uncle C]

Its 6% if you use predictive text

 

[Mustafa II]

Boomers are becoming increasingly unpopular with millenials and generation Zs for attitudes like this.

Young people today are really, really struggling - with housing in particular, amongst other financial issues such as student loan debt. Boomers gloating about how much wealth they have will not end well for them.

Eventually millenials and generation Zs will be the majority, and they will be coming for all this hoarded wealth. I think that much is inevitable.

 

[dazzer6666]

In the UK about 6.8% of people have mortgages.

By comparison about 61% of people are savers, some of which may be hitting the breadline.

So any rise in income to this long forgotten majority is surely good news.

Interest rate wrong
% with a mortgage wrong
Most those with savings have a mortgage and will be overall worse off

Apart from that, good effort.

 

[Leekbrookgull]

Think that you will find that not many bank's and building societies are increasing their saver's rates.

 

[Westdene Seagull]

In the UK about 6.8% of people have mortgages.

By comparison about 61% of people are savers, some of which may be hitting the breadline.

So any rise in income to this long forgotten majority is surely good news.

Your maths and economics is as bad as Liz Truss'. Regardless, the BoE are a bunch of dinosaur ****s. Watch the increase do f*** all to the inflation rate - much like the last 13 increases.

 

[juliant]

Having just said to the wife our fixed rate runs out in 18 months is it bad to actually think its time for a recession ?

Just cannot see any other way for things to get any better

 

[Uncle C]

Boomers are becoming increasingly unpopular with millenials and generation Zs for attitudes like this.

Young people today are really, really struggling - with housing in particular, amongst other financial issues such as student loan debt. Boomers gloating about how much wealth they have will not end well for them.

Eventually millenials and generation Zs will be the majority, and they will be coming for all this hoarded wealth. I think that much is inevitable.

Sorry, I was forgetting that this generation has had things much tougher than any previous generation before.

 

[Nobby Cybergoat]

Boomers are becoming increasingly unpopular with millenials and generation Zs for attitudes like this.

Young people today are really, really struggling - with housing in particular, amongst other financial issues such as student loan debt. Boomers gloating about how much wealth they have will not end well for them.

Eventually millenials and generation Zs will be the majority, and they will be coming for all this hoarded wealth. I think that much is inevitable.

Ahh they'll have squirrelled it away, so they can eventually be buried with their hordes of treasure after having spent the last 30 years of their lonely, miserable lives watching their kids and grandkids struggle while they marvel at the colossal bank balance they've accumulated

 

[Dick Swiveller]

Sorry, I was forgetting that this generation has had things much tougher than any previous generation before.

Sorry - I know Eamonn swore on air bit I still don't think there are any jobs going on GB News

 

[pocketseagull]

OP has been positively gleeful across threads about people facing real hardship right now. Thoroughly unpleasant tbh.

 

[Bakero]

Sorry, I was forgetting that this generation has had things much tougher than any previous generation before.

Are you going to acknowledge the errors in your opening post?

~37.5% of the UK population has a mortgage while about 27.5% own a home outright.

Of the remainder, discounting the children, many will be spending a huge chunk of their income on rent so have little prospect of saving.

What exactly are you celebrating here?