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I'm 40ish and I never bought anything on credit (except the house). Even with the house I wandered around the country doing the best jobs and putting money away, and bought most of my house outright. Unfortunately by the time I bought a house taxes and increases in house prices made me only comparable to someone on a much lower wage that stayed in one place and bought early!!
So I'm not one of those that benefits from these cheap interest rates.

However, I think these pensioners and 40+ viewers should take into account that many of them bought their houses for £30-£60k, with £30k mortgage tax relief. Younger people are told that they must own their own house and see the prices spiralling away to £150k plus for a tiny flat, and desperately take on the 95% mortgage despite knowing its a precarious position.
They had no help from the government.

While we should not support people who borrowed money to buy the best new car, or fund an extravagent lifestyle, people who did not have the house price (and pensions) pain of the current generation should have a little sympathy.
We should not be so me me me. Everybody is suffering.

Whats more if we let people who are earning keep their house (or those who have the motivation to get back into work within a short period to keep their house) we reduce reposessions.
Reposessions mean the house prices drop further, the banks lose, and we propped up the banks with taxpayers money so we lose too. Then the house your living in drops in value, so you have less money in your assets. And the taxpayer needs to fund finding housing for the people who get repossessed.

So it is the right thing to try to keep people in their houses if they can recover in a short period. They will then feed back into the recovery.

I want to start a campaign to help money flow…
Am seriously getting tied of the news, doom and gloom ….

I want to see the bank to have targets for every £100 that goes over the counter
.......................................................
£30 – Goes to new/old mortgages
£20 - Goes to Liquidation of assets building up , Gold reserve, silver, etc etc within the institution .
£20 - Goes on Business loans and business over drafts
£10 – Credit cards/ unsecure loans
£10 – Goes to managed funds for the bank to gamble to make money
Finally the last £10 – Goes to managed and fund speculators.

For every Saving customer can then be given, a better saving rate, based on the Liquidation, build up and encourage saving.

The days are now over for money been thrown at you to take up, we all have a part to play in this whole mess,living the never never days have gone...

If something happens soon
If everyone in business or who have credit cards or unsecure loans and go for voluntary bankruptcies’ this impact will make the situation that’s bad even worse.

We have the cheapest interest rate and borrowing should be the cheapest ever known.

Every business account customer should be given a business overdraft, and agreement that that will not be reduced for the next 18 months.
To help cash flow.pay wages, keep a well worth business stay afloat .

I can see in not to distance future, shops will be giving discounts for using cash instead of credit cards, A purchase on a customer, will come out of there account on that day, however the retailer wont see this money till a week on Tuesday, eight days, this is tying up unnecessary money for day to day running of a business.


Stop the banks lending over 100% on mortgages
Stop the banks over lending and bring both credit agengies together, they don't show everything.

Introduce mortgages that are half tracker and half fixed for 3/5/and even 10 years encourage long term security to the whole market .

If interest rats to savers are cut will not those same savers cut their spending. I will have to. I had to retire early from a well paid job for stress reasons. I have no state benefits or pensions yet. So we live on my part-time employment, my wife's part time employment and interest from savings which go down every time there is an interest rate cut. We will be spending less and less in the shops as a result of the interest rate cut. Am I in a small minority?

OH DEAR DEAR DEAR

I have savings in the bank what I’m more concerned about is inflation!

Anyone bleating on about low interest rates has no idea what 20%+ inflation will do to their savings.

Why are so many people so useless at MATHS?

Even TV Reporters and Presenters are incompetent when it comes to maths.

BESIDES anyone who’s counting on saving in the bank to gain an income from is as lazy as lazy can be.

PUT your money into cheap property in good areas the rental income should always keep pace with inflation and yields are 6-10% depending.

NO EASY SOLUTION for the mathematically challenged!!

READER AND VIEWERS

Help yourselves and stop worrying about the minutiae of saving a few pence here and there on tax saving pension deal etc etc etc

You are wasting your time listening to these financial advisers and following the path of saving pence here and there.

IT’S costing you thousands.

If you invested in the stock market then you will now know that losses of up to 70% are not uncommon. So there’s no safety there.

Property may have fallen 30% but it’s a necessity you can’t sleep in a share or a bond!

Returns from bonds are puny.

Get back to basics.

Pay of any loans you may have especially Credit cards the number of fools who are paying 18% on credit cards and worrying about losing 1-2 % on saving is a joke.

LEAVING money in the BANK is a mugs game.

AS is listening to advisers about a tax saving here or there it’ll only cost you.

RENTABLE LAND, BRICKS AND MARTAR the only way to go.

NOW MORE THAN EVER!

Why don’t the banks offer the best savings rate on the market to attract customers from other banks, liquidate there asset increase their balance sheets, and bring back competition between the banks once again...

people will suffer with lower interest rates if they depend on them to make some kind of income from them...

The general conseques is that savers are more well off than the people who have borrowed and are struggling to pay. At at time like this everyone is affected in some way, shape or form, so although it's not their fault but savers and people who pay their borrowings in time and have been sensible about money in general will have to bear the brunt due to foolish people who spent and borrowed out of their means. Life's not fair but that's how it goes and there are few good deals in the market which offer higher interest rate if people shop around.

Savers need to get angry and let politicians and the media know that enough is enough.

This petition is a start but more action is required:

This is late, so unlikely to be read.
As pensioners lunched today with well off civil servants who are laughing all the way to the bank on their tracker mortgage. They are not planning to spend it but to save it to go towards their endowment shortfall.
We would have spent the inrerest we receive as part of our pension.
So handing our interest over to well paid civil servants has achieved what?

lets-debate thinks that savers are better off than others, why is that? It is because we saved instead of frittering our money away on new fangled gadgets and plasma tv's. We have worked hard bringing up our children and saving for a rainy day. We hoped that when we retired we could go on holiday away from those rainy days, now we are helping to bail out other people who spent when we saved. Our rainy day money is now needed to keep us warm in our own paid for home.

#4 and #5

"OH DEAR DEAR DEAR"

I found what you said confusing. I think you seemed to believe we could all do well if we followed your advice. Clearly you are confused. The overall wealth of the nation depends on our overall productivity; roughly NDP (GDP adjusted for wear and tear).

Everything else is about how we carve up the pie. If one gains, another loses. Economics is like a big pizza. And there ain't no free lunches.

Why are people so upset about low interest rates? Given inflation is negative*, real rates have risen. That is, the spending power of savings is rising faster than it was a few months ago. Savers are doing well. Mortgagees are taking a hammering. House prices are falling. Prices are falling in general. Repayments are falling more slowly than both. The real cost of repaying a mortgage is rising.


(* I know the ³ÉÈË¿ìÊÖ and others say it positive. It isn't. They misreport it, always.).

I really don't get savers, the money you have is from the hard work you put in, so fair play... but why feel you're owed something for allowing someone to look after it for you... it seems you can have no matter how much money you want in the bank and it'll be covered by the lot of us, so what are you complaining about? and bless the old people who are saying they always saved, but it is a very different environment to when you were working... I don't think the blame should be put totally on the individual, as there has to be something that has caused this reliance on debt.

You should be thankful you've had the ability to save in the first place.

Declan:
That is sad, that most people don't want lower interest rates...

~Dennis Junior~