Interest Rates.

[No Ney Never]

So far all the talk is of the likelihood of a rise of 0.25% in November. I could do with seeing a better return on my savings than that being currently paid.
November last year I took advantage of the 2.3% 10 year fixed mortgage on offer by the Coventry, so a rise in interest rates would be welcome and nothing but a positive for me.

[Paul Waine]

So far all the talk is of the likelihood of a rise of 0.25% in November. I could do with seeing a better return on my savings than that being currently paid.
November last year I took advantage of the 2.3% 10 year fixed mortgage on offer by the Coventry, so a rise in interest rates would be welcome and nothing but a positive for me.

Will this be the first time that BofE will double interest rates (0.25 + 0.25)?

I guess the largest absolute interest rate move was on Black Wednesday - when the UK crashed out of/escaped the ERM (delete depending on your personal preference). Anyone know any different?

[CleggHall]

NNN- you are in a fortunate position but most people can't have it both ways if they are savers and borrowers. Whatever, any interest rate for savers will be less than the 3% rate of inflation and thus a negative real interest rate. The stock market wins hands down and has done so since 2009.

[jurek]

They've been kept incredibly low for a number of years now
with savers losing out dramatically whilst those with mortgages
have probably never had it so good.

A 0.25% rise will probably not make that much difference to either savers
or those on mortgages.

It's when it gets up beyond 2% that folk will see a difference.

I recall paying close on 15% on my mortgage back in the dark 80's.
And it rising 5% in one day!

Those were the days of panic and worry about whether
we could afford to pay our mortgage.

[No Ney Never]

NNN- you are in a fortunate position but most people can't have it both ways if they are savers and borrowers. Whatever, any interest rate for savers will be less than the 3% rate of inflation and thus a negative real interest rate. The stock market wins hands down and has done so since 2009.

You're certainly correct there CleggHall, I used to get 3% from Santander and a fee of only £2, now it's only 1.5% and a £5 fee. Fortunately the cashback from my direct debits cover this but the loss of interest is awful. I do have a varied portfolio so not entirely reliant on interest from savings, but it would be nice to get a bit more back.