Mortgage joy for millions record low interest rate for 3 years: Homeowners were given hope that mortgage rates will stay at record low for next 3 years and could even be cut within months .... City experts forecast that Ban of England base lending rate will not rise above 6.5 per cent till 2O15: But borrowers could save an average of £2OO a year if rates follow the forecast of Vicky Redwood chief UK economist of Capital Economics who ppredict a O.25 per cent cut in the key interest rate in November.
A cut will mean a fall in monthly payments for the estimated three milion households with mortgages that track the base rate: forecasts follow a gloomy assessment of the economy f rom Bank of England yesterday .... quarterly inflation report will follow on in the same vein.
I travelled a distance downtown to check interest rates at local Santandar and was met with the retort that
I was following in the footsteps of Martin Lewis a retired Journalist and I replied NO to that as I am a Woman Teacher retired: So the interest rates are still the same as before and they still charge on what was known as a free savings account especially if you use an overdraft even minimally ----- thats tough on the saver
Money here is in the South and as such its a tough cookie to deal with as although we all get it we still have to fight for it and its never an easy package to get it online and just sit back and rest and if one follows that pattern the next day its back to the lawyers and we are offered advice we need to follow to retain a pound or two to get us
through to the end of the month.
The credit card battle with unfair charges seems to have waned with support from the legal team but there is still the odd flutter of threat from some of them who refuse to take the law on unfair charges at all - seriously!