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Post by westonkevRS on Jan 20, 2015 6:57:21 GMT
There is an awful lot of money sitting at 5.9% and above (on the 5 year market), forcing me to settle for 5.8% today rather than queueing my money that might take days to be accepted. There seems to be a lot of money there. I am wondering if people other than The Man In The Street is keeping rates below 6% to make RateSetter look unattractive. Can we change the title, or perhaps jaybee confirm that "The Man (not) On The Street" doesn't actually exist? Or if he does he isn't a very good manipulator with 6.2% available yesterday?
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agent69
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Post by agent69 on Jan 21, 2015 17:41:06 GMT
Current rates:
3 year - 5.2%
5 year - 6.2%
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oldgrumpy
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Post by oldgrumpy on Jan 21, 2015 18:07:27 GMT
Us old f*r*s are receiving our NS and I letters around now, offering "great" rates of 4% and 2.8% for 3 and 1 year bonds. Maybe part of the reduced cash availability on offer is because we are all rushing our £20K into them (!) before the Treasury withdraws them. I notice the Halifax, while still boasting how they give "EXTRA". don't do it for savers any more. 1.4%,1.75% and 2% for 1,3 and 5 years. I'm wiv Kev ...... 6.2% tomorrow - maybe plant a bit at 6.3% for Friday and the weekend.
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Post by yorkshireman on Jan 21, 2015 19:52:18 GMT
Us old f*r*s are receiving our NS and I letters around now, offering "great" rates of 4% and 2.8% for 3 and 1 year bonds. Maybe part of the reduced cash availability on offer is because we are all rushing our £20K into them (!) before the Treasury withdraws them. I notice the Halifax, while still boasting how they give "EXTRA". don't do it for savers any more. 1.4%,1.75% and 2% for 1,3 and 5 years. I'm wiv Kev ...... 6.2% tomorrow - maybe plant a bit at 6.3% for Friday and the weekend. It’ll be 6% for 3 years if this afternoon’s trend continues!
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Post by bracknellboy on Jan 21, 2015 20:56:42 GMT
There is an awful lot of money sitting at 5.9% and above (on the 5 year market), forcing me to settle for 5.8% today rather than queueing my money that might take days to be accepted. There seems to be a lot of money there. I am wondering if people other than The Man In The Street is keeping rates below 6% to make RateSetter look unattractive. Can we change the title, or perhaps jaybee confirm that "The Man (not) On The Street" doesn't actually exist? Or if he does he isn't a very good manipulator with 6.2% available yesterday? I think that is a bit premature. I think its a conspiracy to allow a short term spike in rates in an attempt to disprove the manipulation theory. The Man (not) on the Street will be back soon.
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Post by westonkevRS on Jan 21, 2015 21:09:55 GMT
Us old f*r*s are receiving our NS and I letters around now, offering "great" rates of 4% and 2.8% for 3 and 1 year bonds. It's a tax on the young to give more money to the old rich baby boomers. And it aint fair, and it's a cheap political bribe to get the grey vote....
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oldgrumpy
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Post by oldgrumpy on Jan 21, 2015 22:12:06 GMT
Us old f*r*s are receiving our NS and I letters around now, offering "great" rates of 4% and 2.8% for 3 and 1 year bonds. It's a tax on the young to give more money to the old rich baby boomers. And it aint fair, and it's a cheap political bribe to get the grey vote....Yeah! Yeah! I've been trumpeting to my listener here in England for the last nine months; this government will be introducing a number of fiscal "offers" aimed at the 60+ brigade with exactly that purpose in mind!! Blatant - and there'll be more more for us oldies in the budget - you mark my words!! I think that's exactly what they will do - they've lost the 18-24s; they dare not lose the 60+s!! (Mind you, they've been telling us we don't save enough for years but that hasn't stopped them making quite sure we lose value by doing it!!) SAVE FOR YOUR OLD AGE (then we can spend all your money by using your non-interest and taxes to fund banks under the guise of "Funding for Lending".)
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Post by GSV3MIaC on Jan 21, 2015 22:58:02 GMT
I thought they'd cut out the special 'age related personal allowance' tax goody .. or at least started scaling it back. Never did understand why (we) oldies needed higher tax free allowance than those working, or why NI only gets charged to those not actually benefiting from it much. 8>.
Wanna buy any war bonds? Pick a war, pick any war ...
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Steerpike
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Post by Steerpike on Jan 21, 2015 23:28:35 GMT
It's a tax on the young to give more money to the old rich baby boomers. And it aint fair, and it's a cheap political bribe to get the grey vote....Yeah! Yeah! I've been trumpeting to my listener here in England for the last nine months; this government will be introducing a number of fiscal "offers" aimed at the 60+ brigade with exactly that purpose in mind!! Blatant - and there'll be more more for us oldies in the budget - you mark my words!! I think that's exactly what they will do - they've lost the 18-24s; they dare not lose the 60+s!! (Mind you, they've been telling us we don't save enough for years but that hasn't stopped them making quite sure we lose value by doing it!!) SAVE FOR YOUR OLD AGE (then we can spend all your money by using your non-interest and taxes to fund banks under the guise of "Funding for Lending".) Clearly, the beneficiaries of low interest rates over the last few years have been people with mortgages. In general this will have helped younger people more than older people and older folk relying on interest from their savings have suffered. Under the circumstances, the modest opportunity to earn a bit of interest with these bonds does not seem to me unreasonable and I don't feel completely cynical about the timing. I remember when I had no savings and a large mortgage really struggling with ever increasing interest rates and I would have been very grateful for the rates that have prevailed in recent times.
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Post by yorkshireman on Jan 22, 2015 0:43:35 GMT
Yeah! Yeah! I've been trumpeting to my listener here in England for the last nine months; this government will be introducing a number of fiscal "offers" aimed at the 60+ brigade with exactly that purpose in mind!! Blatant - and there'll be more more for us oldies in the budget - you mark my words!! I think that's exactly what they will do - they've lost the 18-24s; they dare not lose the 60+s!! (Mind you, they've been telling us we don't save enough for years but that hasn't stopped them making quite sure we lose value by doing it!!) SAVE FOR YOUR OLD AGE (then we can spend all your money by using your non-interest and taxes to fund banks under the guise of "Funding for Lending".) Clearly, the beneficiaries of low interest rates over the last few years have been people with mortgages. In general this will have helped younger people more than older people and older folk relying on interest from their savings have suffered. Under the circumstances, the modest opportunity to earn a bit of interest with these bonds does not seem to me unreasonable and I don't feel completely cynical about the timing. I remember when I had no savings and a large mortgage really struggling with ever increasing interest rates and I would have been very grateful for the rates that have prevailed in recent times. Exactly, today’s mortgage holders haven’t had to cope with bank rate at 15%
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Post by westonkevRS on Jan 22, 2015 7:07:23 GMT
I remember when I had no savings and a large mortgage really struggling with ever increasing interest rates and I would have been very grateful for the rates that have prevailed in recent times. Exactly, today’s mortgage holders haven’t had to cope with bank rate at 15% Did you used to live in a tiny old house, with greaaaaat big holes in the roof. One room, all hundred and twenty-six of you, no furniture. Half the floor was missing; all huddled together in one corner for fear of falling?
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pikestaff
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Post by pikestaff on Jan 22, 2015 8:23:56 GMT
Clearly, the beneficiaries of low interest rates over the last few years have been people with mortgages. In general this will have helped younger people more than older people and older folk relying on interest from their savings have suffered. Under the circumstances, the modest opportunity to earn a bit of interest with these bonds does not seem to me unreasonable and I don't feel completely cynical about the timing. I remember when I had no savings and a large mortgage really struggling with ever increasing interest rates and I would have been very grateful for the rates that have prevailed in recent times. Exactly, today’s mortgage holders haven’t had to cope with bank rate at 15% Except that yesterday's mortgage holders did not have to cope with today's ridiculous house prices. As interest rates go down, prices get bid up. It's us older folk who've benefited the most from rising house prices, even if we don't feel better off until we cash in. Lower rates don't help new borrowers at all, although they do help existing borrowers. I hate to think what will happen to today's new borrowers when we get a significant increase in rates - although I don't expect that for a long time.
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Post by oldatheist on Jan 22, 2015 8:42:57 GMT
I remember when I had no savings and a large mortgage really struggling with ever increasing interest rates and I would have been very grateful for the rates that have prevailed in recent times. I remember those rates, but I also remember the relatively low cost of property back then, and the fact that wages were rising significantly as well and jobs were pretty secure. As baby boomer myself I am well aware that we are the lucky generation, and I doubt if my children, would even have a mortgage if it were not for the fact we were in the fortunate position to give them significant help with a deposit. It really makes me cross when I hear my fellow boomers moaning about how hard they are being done by. My sympathies lie with the younger generation who are going to have work to support us in our dotage for many decades to come.
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Investor
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Post by Investor on Jan 22, 2015 9:42:55 GMT
Exactly, today’s mortgage holders haven’t had to cope with bank rate at 15% Did you used to live in a tiny old house, with greaaaaat big holes in the roof. One room, all hundred and twenty-six of you, no furniture. Half the floor was missing; all huddled together in one corner for fear of falling? You were lucky. We lived for three months in a paper bag in a septic tank. We used to have to get up at six in the morning, clean the paper bag, eat a crust of stale bread, go to work down t' mill, fourteen hours a day, week-in week-out, for sixpence a week, and when we got home our Dad would thrash us to sleep wi' his belt.
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Post by oldnick on Jan 22, 2015 9:50:14 GMT
LUXURY!!!
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