Be fair. It was 7 shillings for a dollar in the 60s ($2.80 for a pound). But devaluation then was mainly because the Tories left a massive balance of payments deficit.It was over $2 in 2007 ..... fell due to the financial Market crash in 2008... and has been heading downwards under the Tories ever since.
Wrong. Before Friday, the prediction was that rates would peak at around 3-3.5% next Summer.I don't claim to know more than experts, but I would bet my mortgage that interest rates will be nowhere near 6% by then.
But incidentally they were saying well before any hint of Friday's tax cut that rates would go to 6% or 7%,
Presumably intentional? Did Kwarteng say that on Friday? Or even yesterday when the pound plummeted? "The pound tanking is part of the plan."It would seem that the mini budget has had an immediate impact on the pound which was presumably intentional by being helpful to pay back the extra borrowing.
Let's all hope the footsie recovers with exports being greater than the imports that are now more expensive.
You effectively agree to buy the product at that rate, they usually give you a few months to start it then it will elapse and you'd have to re apply.Maybe not the thread for it but related.
Out of interest, say you had a mortgage offer accepted, offer on a house accepted but were awaiting exchange/completion, would the mortgage offer stand at the rate agreed or is that still “in principle”. At what point is it no longer in principle?
Leave him alone he's just having some me time with his copy of the Express.I bet Chippy boy won't be using those for his chips! They're probably on his wall.