Bank rate raised to 3.5%.

[papasmurf]

Nope, that's because you're a chicken and don't know how to make your money work for you.

Nick, if I had taken any notice of experts, my pension fund would have been worth zero at the time of the 2008 crash.
AS it was I instructed the pension fund to convert it to cash a few days before the 2008 crash. That way I actually had a pension fund to get a pension with.
As it was/is I got a 9% impaired life annuity. The best of luck trying to beat that in the current climate.

[Streetwalker]

Nope, that's because you're a chicken and don't know how to make your money work for you.

Im probably in that situation myself . Putting all my cabbage in bricks and mortar was the only thing I knew . 

But yes interest rates have been too low and savers have had a lean time of it , 3.5% doesn't seem high to me though in these days of hundreds of thousand pound mortgages I can see just a little rise will hurt some people bad . On the other hand if it cools down the housing market it wont be  a bad thing 

[Nick]

I can't forget that, it is why I and millions of others are getting naff all interest on our savings.

Nope, that's because you're a chicken and don't know how to make your money work for you. 

[Nick]

3.5% is still a very moderate bank rate, which has averaged around 7% over the last 50 years.
Unfortunately, since the bank crash people have become addicted to cheap loans, so those that are stretching themselves with large mortgages will be having to stretch themselves a bit more.
Same happened to us in the 1980s when we had just had our 3rd child. Somehow, we managed.

And what have they done with those bank loans Barry? Bought the things that they can't really afford and things they are now addicted to. Should we look at the reason food banks exist? Because peoples budgets are now not focused on servicing the essentials but paying for things they really have no right to own based on their salary. Facts the left just won't accept.

[papasmurf]

But let's forget the 24 times in a row it didn't increase interest rates.

I can't forget that, it is why I and millions of others are getting naff all interest on our savings.

[Nick]

I am glad I paid my mortgage off back in 1990.
Breaking:-

UK interest rates raised to highest level for 14 years - BBC News

The Bank of England has raised UK interest rates to their highest level for 14 years as it battles to stem soaring prices.

It increased them to 3.5% from 3%, marking the ninth time in a row it has hiked interest rates.

But let's forget the 24 times in a row it didn't increase interest rates. 

[Barry]

3.5% is still a very moderate bank rate, which has averaged around 7% over the last 50 years.
Unfortunately, since the bank crash people have become addicted to cheap loans, so those that are stretching themselves with large mortgages will be having to stretch themselves a bit more.
Same happened to us in the 1980s when we had just had our 3rd child. Somehow, we managed.

[papasmurf]

I am glad I paid my mortgage off back in 1990.
Breaking:-

UK interest rates raised to highest level for 14 years - BBC News

The Bank of England has raised UK interest rates to their highest level for 14 years as it battles to stem soaring prices.

It increased them to 3.5% from 3%, marking the ninth time in a row it has hiked interest rates.