At last..

[empip]

The warning...

..."It is unwise to borrow so much that the repayments are affordable only if interest rates remain at initial levels," he told a CBI Wales dinner, in an apparent warning against financial complacency...

Apparently the effects of Bank rate movements take about 2 yrs to fully affect inflation rates...[BOE] So they failed two years ago then, who will pay?

If we bothered to educate teenagers how to calculate a loan, perhaps they would think before diving in.

I recall with a shiver some hefty rates - 4 yrs above 10% '78 - '82 - there is no guarantee those days will never return.

Have a look... [BOE Historic %] Note just what Brown inherited from '93 to '97... the seeds were already planted.

Bank and Mortgage rates '89-2007... [MoneyExtra]