| This worries me a bit. Loads of folk are walking a fine line and are over committed with mortgages and loans.
The likes of B&Q are moaning that they are seeing the worst sales figures through the doors in years, as are other high street names (Comet & Dixons for example). Is this just scare tactics to make us feel sorry for them??
Is it that people are maxed out on their credit cards and "Ticked" up to the max on loans and remortgages etc having seen large increases in their house values and taken them up to 85%+ whenever possible to fund house improvements, debt consolidation etc etc???
People are now more concious of the interest rates and i know several guys at work who breathed a sigh of relief when they dropped back a 1/4% recently as it gave them a few extra quid to play with as they were maxed out.
People have bought houses when interest rates have been the best for many years and would really struggle to make ends meet if they were to rise (Unless they are on fixed rate deals which can vary in time scale of course)
One mans bad times is anothers good i suppose and the savers would benefit from Interest rate rises??
All complicated stuff, only time will tell..........  |