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Re: Interest rates to stay low for ages

PostPosted: Sun Aug 31, 2014 8:18 am
by d2thdr
headmelter ยป Wed Aug 27, 2014 11:26 am wrote:My mortgage is fixed until 2017... so, I've been 'overpaying' since 2012...I hope you're right Pix but I think the 'grab' will start before 2017... if it doesn't I'll look to fix for 10 years.

Good luck mate. Just to give a perspective - A good friend who bought a nice property in India (yes not UK but still!) was sent a letter last month that they are back dating interest rate from 2008 thus he owes a lot of money and unless he pays that off they wont let him move his mortgage. Many people have been affected by this and though the contract does not make provisions for this, when the sh*t if about to hit the fan, the people in power have no qualms in doing what they feel they want to. I am not in any way implying that this will happen in the UK, but the power of the collective is not going to stand in the way of the efforts taken to prevent the PONZI from falling down under its own weight. Absence of a written constitution, permits the parliament from doing everything it can to ensure the city of London does not suffer.