GrannyGranny Posted November 24, 2010 Share Posted November 24, 2010 it must be nice to earn enough to have some left for savings. You don't have to earn a lot to save especially if you have worked for 40 years and have lived frugally. My parents are in this situation and having just downsized so have some money to invest to provide additional income. The best rate they can get, for only 12 months, is around 2.75%. On £40k this will provide less than £90 per month in interest. Link to comment Share on other sites More sharing options...
missymoo73 Posted November 24, 2010 Share Posted November 24, 2010 Finally my mortgage came out of its fixed period and due to the super low interest rates I am now saving over £200 per month on my mortgage. Long live the low interest rate. What was that famous saying....oh yes....."home owners have never had it so good" Link to comment Share on other sites More sharing options...
Greybeard Posted November 24, 2010 Share Posted November 24, 2010 And savers, I dont really care if you get a crap rate, i'm sure if the boot was on the other foot you wouldn't complain/care. You sound just like a politician/banker. jigger you Jack - I'm alright ! You need to keep in mind that the base rate is being kept artificially low to protect the 'asset value' of the banker's investment - iow your home, but when inflation really kicks in and rates have to rise you lender will have little concern for the pickle that leaves you in. Our mortgage was paid off in the mid 90s and my foot was never in as comfortable a boot as the one you're wearing now - enjoy it while it lasts; it has a very thin sole. Base rates 1986 to 2010 Link to comment Share on other sites More sharing options...
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