Bank rate now 1.5%

  Grey Goo 12:11 08 Jan 09
Locked

As widely predicted. Wanna buy a mattress?

  newman35 12:40 08 Jan 09

I read that sales of home safes were up by 50% - not surprising.

  realist 12:54 08 Jan 09

Even before today's cut the net interest on my Nationwide savings account was a derisory 0.08%.

Really feel like taking it all out and keep it somewhere else, but where?

Seems to me that all I'm doing is subsidising all those people with NW mortgages, whoever you are!

  Cymro. 13:19 08 Jan 09

So who am I suppose to have the most sympathy for?
People who loose out on the interest received on their savings, or the people who are trying to buy their own home?

I know who I support and it is not those who sit on their savings for years not having to worry about a high mortgage interest rate.

  Grey Goo 13:37 08 Jan 09

You needed to be around in the mid 1970's to really know what high mortgage interest rates were. A lot of people are savers as well as mortgage payers and lose out both ways.

  Grey Goo 13:41 08 Jan 09

The Tesco internet saver has a 12 month bonus of 1.5% added to whatever the ratee will be, but if you are interested you need to act as the offer closes soon.

  Grey Goo 13:46 08 Jan 09

Think the bonus has expired but still paying 3.6% at the moment this will probably change after today though

  ventanas 13:56 08 Jan 09

Cymro has already spouted his idiotic opinions in another thread.
He seems to be some sort of champion for the lazy, debt-ridden, overspending fools that milk the detestable welfare state. I think these people are generally called "socialists." In other words - failures.
I'm in the same boat as all other savers, my income from investments has all but disappeared. I don't think there is any option but to sit it out and hope for a general election and get rid of the morons that supposedly govern this country.

  Cymro. 14:32 08 Jan 09

You say
"You needed to be around in the mid 1970's to really know what high mortgage interest rates were. A lot of people are savers as well as mortgage payers and lose out both ways".

I have been around since 1946 and so know only too well what it is to loose out both ways. The difference is that now I have no mortgage to pay I don`t moan about how much interest I get from my savings.

  Cymro. 14:40 08 Jan 09

You say that I am
"some sort of champion for the lazy, debt-ridden, overspending fools that milk the detestable welfare state"

I am not the champion of those that you mention only those who through no fault of their own are not able to have any savings.

As for the "detestable welfare state" as you call it, I wonder if you will ever be unlucky enough to have recourse to using its services.

As for my being a Socialist certainly and definitely not, no way no how am I anything of the sort.

  newman35 15:02 08 Jan 09

You really must think this through.
You seem to want savers to accept their suffering and be happy with no interest ie their cash is losing (note the single 'o', BTW) value, because of inflation as well.
But if there were no savers, where do you think your beloved mortgages would come from?
I agreed with your premise that some folk have no savings, but that's no reason to suggest anyone with savings "to sit on" is not equally hurt financially.
The solution would seem to be a communist state where all people have exactly the same assets and incomes, cars and houses etc etc. Might sound good to you, but not to me.

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