Anyone concerned by interest rates rising re mortgage?
- Thread starter SirGalahad
- Start date
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And your next pearl of stating the bleeding obvious is ?
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Yep just get rid of it on stuff you don't need
Or find out the difference between saving and investing.
Since 16 Feb 2022 your gold has increased in value by about 10%
The price has changed from about £1372 per oz to about £1508
Though dealing charges, and costs of storage and insurance will eat into that.
I don't personally consider gold to be an investment, but it is a store of value and I know you like it.
BTW my European investment did rather better over the same period, but some people have an innate antagonism.
4 ounces of gold ready for the coming apocalypse
Since 16 Feb 2022 your gold has increased in value by about 10%
The price has changed from about £1372 per oz to about £1508
Though dealing charges, and costs of storage and insurance will eat into that.
I don't personally consider gold to be an investment, but it is a store of value and I know you like it.
BTW my European investment did rather better over the same period, but some people have an innate antagonism.
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Yep because every single investment makes money and no investment has ever collapsed completely let alone lost money
Marcus offer a "bonus" interest rate that's a little bit higher for 12 months. I ignored it, assuming it was a trick that would mean I'd miss out on any rate rises for the next year.
I joined last month, after scouring the terms. This month, my interest rate did rise. I didn't remain on the previous rate, I got the new higher rate plus the bonus. I also got the option to keep this bonus for the remaining 11 months or to re-join at the same bonus for another 12 months.
In this rare case, it appears that the bank are offering a bonus that genuinely does not have a catch. I guess it's just a slightly higher rate on top for those who are on the ball, the people who might be likely to move away if there's a higher rate elsewhere.
Some investments gain, and some lose. Cash, however, always loses by inflation.
Your pension fund might have a duration of 40 years or more.
Which option can reasonably be expected to grow over that time, in spite of peaks and troughs?
It's easy to be 'on the ball', they email me, each time the change the basic interest rate, and when there is an option for more. Accepting the bonus rate, is just a matter of logging in and ticking a box.
You missed my point (again).
It is just a matter of ticking a box but, them being a bank, I assumed there was a catch - i.e. that you wouldn't get any future rises for those 12 months. The terms are not clear either way.
But I've tested it and it is risk-free, the rate still increases. Thankfully you were OK even if you did charge in head-first with your eyes shut.
I answered your apparent main concern, about not being aware of the extra bonus. I was aware of your second concern, but you seemed to answer that yourself, in the same sentence.
Eyes shut, no. I can confirm that you will get the basic rate, plus the bonus - the only thing is you have to have your eyes open and watch for their email, then tick the box, or miss out on the bonus rate.
I really hope that wasn't intentional! Don't tell lies...
On a cheerier note, our one year 2.58% fixed bonds with Kent Reliance mature on the 29th. Same company are now offering 5.3% I dunno if that takes todays rise into account.
I locked some away for a year at 5.44% with Kent Reliance last week. This morning it’s 5.92%. Just over a couple of hundred quid difference over the year but rather in my pocket that theirs. I’ve just phoned up and under the 14 day cooling off period, cancelled it and had them move it to a new account at the new rate. If it changes again in the next 14 days I’ll do the same.
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