That's still better that when I was getting 0.2% or the 0.1% T.S.B. wanted to give me.
Interest rate predictions
- Thread starter diy_fun_uk
- Start date
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Except that if inflation was only 3%, you would only be losing 2.9% of value.
Which is not as bad.
The inflation rate in 2016 was 1.74%
The current inflation rate is 13.20%
High inflation is bad for people with cash savings
And good for people with cash debts such as mortgages on lower interest
And very good for governments with enormous public sector debt*
(The poor, paying 40%, suffer worst, but are not MPs or cabinet ministers, so nobody cares)
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I really couldn't care, it is what it is and I'm not going to let something that I can do nothing about eat my head.
Incidentally, I had a grandmother who lived for many years after losing her husband, who sold the family business and bought several BTL.
She was advised to sell everything, buy an annuity and put the rest in the Building Society.
20 years of inflation reduced her to poverty.
She was advised to sell everything, buy an annuity and put the rest in the Building Society.
20 years of inflation reduced her to poverty.
I'm sure we are all the same ilk but don't try and kid ourselves that since we are getting a higher interest rate on our monies than 12 months ago things have improved
I really couldn't give a fig. Now leave me alone, I'm counting my money.
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About my "best" single BTL cost me 160k years ago. Converted to a largeish HMO, it's earning £28kpa and the agent is saying the rents can go up by several %.
Oh well all right then.
Frankly I don't pay enough tax on that..
There you have it , that's the trouble with the country. Too many people/businesses like me. The gov won't buy me out, maybe I'll find a nice foreigner to buy it.
SOmeone I know, I won't call a friend, has several monster HMOs in Shepherd's Bush , London, north side of the green. They would have cost her a couple of million but the rents now beggar belief.
Oh well all right then.
Frankly I don't pay enough tax on that..
There you have it , that's the trouble with the country. Too many people/businesses like me. The gov won't buy me out, maybe I'll find a nice foreigner to buy it.
SOmeone I know, I won't call a friend, has several monster HMOs in Shepherd's Bush , London, north side of the green. They would have cost her a couple of million but the rents now beggar belief.
BofE has spent ££billions to prop up the £/$ rate and now raised the base rate to 3%, which was generally expected by the markets. But rather than just saying the UK is going to find things tough in line with other economies, he goes into detail and spouts out about a 2 year recession. What then happens?......£ crashes again.......what a muppet.
That man needs to keep his mouth shut.
That man needs to keep his mouth shut.
A statement made in ignorance.
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