RE: Ineffective interest rate rise24 Jun 2023 21:30
To date,with so many people on fixed rates, who has benefitted/least impacted ?
The 1m people whose deals have come up since rates really started to climb, many of those will be to rates much lower than now.
The winners, Savers without a mortgage, may be 60+, who are they most likely to vote for ? I doubt anyone will state it for fear it might look so stupid but as of now, have we put more money into savers pockets (inflationary) than we have taken out of mortgagees pockets ? By the end of 2024 4m deals will have come up and it's likely those unlucky 2024 people might bear the brunt of this.
Where will this impact the most, on working people who are most likely due to age to have mortgages.
Yet it is only of late that workers have managed to get pay rises (below inflation and how dare they) to help meet ever increasing demands.
In the meantime, companies who have put up prices to maintain profit levels (no, we are not all in this together) are adding to inflation without any comeback.
How did it come to this........