Trouble is, the mortgage rate was even higher! My first mortgage went up to 15% in the early '80's...
Maybe a silly idea but have you considered going on Amazon books they may have a copy. Better yet if you have a kindle although a lap top will do. You could down load it. Edit.......not as good as downloading from a mate though!
I remember that....got a cold shiver down my spine. I had been in my house a few years by then, but it really cut into the small spare cash we had. But even before the peak, 10% was normal. The 'advantage' was that people didn't get caught into building up a huge credit card debt....the minimum payment was so high that you kept it under control. I am horrified by how small the minimum payment is now on quite large debts....kids happy to pay a few pounds a month and give no thought to a debt that runs on for decades if not for ever. Frightening how much interest they pay in the long term.
Murray has come out strongly in the Sharapova case....says she should be suspended. Adds that taking a prescription drug you don't need just because it's legal is wrong. 55 Athletes have tested positive for meldonium over the past year and Murray says it is amazing that so many athletes at the top of their game have heart conditions. He also thinks he hasn't been tested enough....this criticism has been thrown at tennis before.
He's right. I'd be amazed if she medically needs the drug especially as you're only supposed to take it short term. It may have been legal until recently but it's still looks to me that she has been cheating for 10 years. It's like a tax loophole it may be legal but that doesn't make it right.
The authorities should ask to see her full medical records before deciding her fate. If she was taking it with no good medical reason, they should give her a longer ban than if it was an oversight' However, she must still get a ban because you can't let the big guys get away with stuff....sets a bad example for youngsters (and may encourage them to take drugs long term which may not be good for them). If this drug is supposed to be taken short term, it may not have been tested for long term use....so she is risking her health.
Yes - same here. Bought a house and got almost the maximum mortgage. Then it went up and up and up ......... Ended up with me coming home from work, taking over the kids for the night while my wife went out in a waitress job until 1 am - and that was just to keep afloat. We ended every month at maximum overdraft and my salary just paid it off - then back again ............. I was only saved by the chance to move overseas with the company, but that was after about 4 years of absolute hell and not knowing whether we'd be able to keep the house. Don't understand people who gladly pay the minimum and don't see how much the debt is increasing ................
The problem increased when rules were relaxed to allow for smaller repayments....in the past, if you didn't add to your debt, paying the minimum meant it was paid off within a year or two, but now it takes decades. It encouraged debt.
And don't forget that nowadays so many young people start their working lives already saddled with massive debts from their student loans, before they even think about mortgages or buying stuff on credit. If the interest rates suddenly increased by even a small amount there would be a huge crisis.
I don't know why people worry about their student debt, I'm repaying my loan for a year & a half of uni, at £73 a month which is nothing really. The loan also has absolutely no bearing on mortgages or any other credit you apply for so it's not like it's restrictive when starting out in life.
You have hit on the exact issue here. I don't want to make this a generational thing but when I was in my early 20's people who had big debts other than their mortgage were regarded, rightly or wrongly, as being a bit reckless. Nowadays it's normal to have debts hanging over you your whole life.
To be fair, £73/month might actually be a lot to people. It still is an impact on cash flow or disposable income.
I am a Pensioner with a modest income, the two major outgoings are for the Season Ticket, and just over £1,020 for my Council Tax, not much left for any other indulgences, luckily I paid off the Mortgage before I retired, so that isn't a millstone any more, but high interest rates were the reason it took so long to clear it. Modest savings have proved worthless because low interest rates now means that they aren't bringing anything in.
Lend it direct to companies (spread it into small packets) and get around 7% via fundingcircle.co.uk (after bad debts and fees). I have no link with them; in fact our business was going to borrow via them until a family member lent us a bundle at 6%, the mad fool. Vin
I would suggest caution and a lot of thought before investing here. This is in the small print at the bottom 'Investment through Funding Circle involves lending to small and medium sized businesses, so your investment can go down as well as up.Funding Circle is not covered by the Financial Services Compensation Scheme ' As with most investments that involve risk the usual rule is unless you can afford to lose it it's best not too.
