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Ian_W, June 10, 2004 in General Conversation - The Pub!
I agree. This is a very sensible move in an attempt to stop the increase in house prices to unsustainable levels.
Never mind.....thank god for fixed interest rates.... <img src="/images/graemlins/grin.gif" alt="" />
another 0.25 possibly .50 by year end to come as well
So What Does The Current Intrest Rate Stand At Now Then ?
I'm Only Young ! Forgive Me !
So Say I Borrowed £10,000 And The Intrest Rate Was 25% Would I Be Paying Back £12,500 ? Or Am I Completely Wrong ?
Erm.....depends over what length of time you borrow, and how regular your payments are....because compound interest involves you being charged interest on what you originally borrowed, plus on the accrued interest.
Whichever way, UB....the financiers get incredibly rich and everyone else has to scrimp and save hard each month just to provide a roof over their heads! <img src="/images/graemlins/sad.gif" alt="" />
Thanks Maladroit !
I'm not really INTERESTED !
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