You may as well keep it under the matress...

  Grey Goo 12:07 06 Nov 08
Locked

...Bank rate cut by 1.5%

  peter99co 12:08 06 Nov 08

That is a big cut. Will it be passed on to Morgage Payers?

  Grey Goo 12:09 06 Nov 08

Should be mattress or Mistress for those so inclined.

  Grey Goo 12:11 06 Nov 08

Should be some reduction but I bet it won't be the full monty.

  GANDALF <|:-)> 13:17 06 Nov 08

It will make no difference to mortgages as banks do not borrow off the Bank of England but between themselves. You need to watch the LIBOR rate to check mortgage rates. Anyone who has been prudent and saved money will have their rates cut though...mixed messages or what?

G

  brindly 16:03 06 Nov 08

Once again all they seem to think about is morgage borrowers, what about the savers who rely on a return from their investment to have a half decent retirement life. So what if houses are not selling so fast and the value is falling, buying a house should be a long term investment, a house should be bought as a home in the first instance to increase in value as time passes naturally.I can remember when a semi cost £1300 and now cost 250,000 it is natural progression.

  n4165si 16:57 06 Nov 08

I wouldn't worry to much about saving ,the more you save the more it is lent out at cheap rates fuelling inflation. I personally would be more concened about your pensions, This government has stolen your future when it raided all private pensions and has virtually killed them off ,except for Public pensions where they seem to be making hay while the sun shines ,they will retire with a decent pension thanks to the the generosity of the Taxpayer. Morgages will will pale to insignificence when your grandchildren pick up the bill for this recklessness

  aine 19:18 06 Nov 08

I feel that, I must put n4165si right!. I am a retired civil servant, my pension has not been making hay as he put it. I retired do to my health in 1985, my pension has risen by 2 grand in all this time, starting at £5000, after 30 years service. You will find that only the top dogs get large pensions,the average workers get very small pensions. Another point to consider is that when salaries are negotiated 10% is not considered because of the pension, ie if the average wage is £100 /week, lower echelon get £ 90

  natdoor 22:35 06 Nov 08

It is part of common wisdom (but , in fact, ignorance) that the government raided pensions and virtually killed them off. The reduction of ACT did remove tax relief on dividends but the money was not taken by the government but was available to the business to invest, which should have been beneficial to share value and yield. The annual loss of tax relief amounted to about one third of the charges made by administrators of the schemes.

The major reason for pension funds going into deficit and for companies closing them down was the drastic collapse in values of shares following the dotcom crash. Share values had just about recovered by 2007 and deficits had disappeared. The current crisis has seen the problem reappear.

In similar vein, the credit crunch is believed to be the result of government policy over the past ten years. In reality, origins of it lie in the abolition of rent control, sale of council houses, and deregulation of the banking industry in the 1980s. These, coupled with the encouragement of a self-centred philosophy and the availability of housing benefit have led to the current situation.

I was once presented by fate with a unique opportunity of preventing all this. I have often pondered over whether I took the right action at the time.

  peter99co 23:10 06 Nov 08

I was once presented by fate with a unique opportunity of preventing all this. I have often pondered over whether I took the right action at the time.



Are you going to tell us?

  Grey Goo 23:25 06 Nov 08

Loan of a Robot,name of "Galt"?

This thread is now locked and can not be replied to.

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