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

[Bakero]

Nope. Are you not man enough to put it in print.

Never before has a generic forum signature been so apt.

 

[Guinness Boy]

Interest rate has gone up due to inflation so anyone who’s not had a pay increase is dipping in to their savings, not increasing them.

If they don’t have savings they’re incurring more debt, more expensively.

 

[Nobby]

Nope. Are you not man enough to put it in print.

Wow - what a loser you are

A loser - no more no less

Loser

Losing year after year after year - a person who is incompetent or unable to succeed

Someone who has to belittle those less fortunate

But doesn't realise that it's the loser who is less fortunate than others

Has nothing substantial in their life - no-one really likes them - some pretend

So they have to resort to being the only one thing that they think they're good at

Being a loser

Otherwise they would just be ignored

 

[BBassic]

Nope. Are you not man enough to put it in print.

Man enough, hah!

Does that sort of bullying work on other people? Weak sauce, old man. Weak sauce.

 

[Mustafa II]

 

[Mustafa II]

Pretty obvious which age groups are getting utterly f***ed over, and which are absolutely loving this interest rate rise.

 

[Pavilionaire]

Whilst it is true to say higher base rates are likely to increase interest returns for savers, in the macroeconomy such gains are likely to be offset by higher taxes and higher welfare costs as we ride the recession.

 

[MattBackHome]

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

Course he's not, the absolute tit.

Absolutely gorgeous day outside and he's decided to come on here and start all this guff.

 

[Westdene Seagull]

Its 6% if you use predictive text

Load of bollocks - predictive text doesn't actually do number digits .... quite understandably. It was you that typed that .... and made it up.

 

[Audax]

In the UK about 6.8% of people have mortgages

Don't forget that those who rent are paying the mortgages of those who buy-to-let. Mortgages go up, rents go up.

 

[Uncle C]

Load of bollocks - predictive text doesn't actually to number digits .... quite understandably. It was you that typed that .... and made it up.

Come back to me in a month or two.

 

[Westdene Seagull]

Come back to me in a month or two.

As opposed to now after THIRTEEN rate rises ? You think an extra two months ( possible three rates rises ) will make a jot of difference ?

Not that you answered the post anyway - typical Tory. How does predictive TEXT change a number ?

 

[mejonaNO12 aka riskit]

I would rather I get naff all on my savings and people didn't lose their homes

 

[Machiavelli]

It's more the case that YOUR generation has had it much EASIER than any previous generation before AND generations since.

* Free NHS dentistry and university education.
* Bullet-proof gold plated pensions.
* Affordable housing - except for 2 years between 1989 and 1991, mortgage payments as % of income have averaged under 25%. Since 2000, that figure has been between 28 and 50%, and could climb to 60%.
* That's just for people who can get on the ladder in the first place. Deposits have rocketed as house prices have massively outstripped wage inflation.

And now most boomers voted to leave the EU, and they vote Tory more than younger generation, and they are responsible for this having been in power for about 40 of the last 53 years.

Yup. All of this. You forgot one thing though: for the majority of their working lives, boomers' incomes not only grew, they became more equal, with fewer left behind, which also meant there was more socio-economic mobility. This has been singularly absent for the past 30+ years.

 

[Machiavelli]

Pretty obvious which age groups are getting utterly f***ed over, and which are absolutely loving this interest rate rise.

Might that be those that do the work, for those that have retired (many of them early with big fat pensions)?

 

[Washboard Didgets]

I have no idea what percentage of the UK has a mortgage, but those who don't will probably pay rent. Rent which will almost certainly gone up because the landlord(person?) – who has a mortgage – needs to cover their costs.

But yeah – savings and that...

Or those renting from Housing Associations etc where the rent is inflation linked...

We are on Shared Ownership so have a mortgage on 30% of the house, and rent the other 70%.

Rent went up ~10% in April (and could have been worse if they had followed the terms of the agreement fully)

Uncle Spielberg managed to get us on a 2-year fix in October 2022 otherwise our mortgage rate would have just hit 8.75%!

 

[Westdene Seagull]

Coming soon to a Tory council seat in Brighton near you.

Oh no he isn't if he's near me - I've stopped one, I'll stop him if he stands in my area.

 

[sparkie]

I would rather I get naff all on my savings and people didn't lose their homes

That's because you have empathy with those in a potentially ruinous situation.

 

[kevo]

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.

Except, as widely reported everywhere for the last six months, banks aren't passing the base rate rises on to savers

 

[FatSuperman]

Genuine question, why are you bothering engaging with this absolute fool?

He's clearly completely ignorant about the realities of life for many, is no doubt sitting in a pool of his own urine, dreaming about the halcyon days of men being men, reminiscing about how much harder he had it with only four channels on the TV. It's like trying to engage with a racist.

You can't use rational thinking to win arguments with idiots.