Martin Lewis

[Caran]

Just watching his programme. He is talking about 1% mortgages.
Does anyone remember when we were paying 15% interest on mortgages.
Everyone seems to have forgotten about this horrendous overpayment.

[goodgoalie]

Although I don't doubt his sincerity, I find him increasingly annoying and smug - especially since he's been made CBE. Doesn't sit well with me to have someone worth tens of millions telling us plebs how to manage our money.

[Buenchico]

Mortgage interest rates are always a bit above the Bank of England's Minimum Lending Rate, which reached 17% within the memory of many people on this website:
https://www.purepropertyfinance.co.uk/wp-content/uploads/2021/01/changesinbankrate.png

The Bank has always said that the current MLR is unsustainable in the long term, with an intention to eventually take it back closer to 5%. So anyone taking on a mortgage now ought to ensure that they'll be able to keep up the repayments when mortgage interest rates climb back to somewhere around 6%.

[maggiebee]

Back in the early 70s I had workmates who were paying 15% interest on their mortgages. I rented back then.

[david small]

I remember only too well. Repossessed hotels, and houses a plenty.

[Caran]

I remember paying this rate on my first house in Warwick about late 60's early 70's.

[Caran]

How on earth did we manage? But we did!!

[Bazile]

//Doesn't sit well with me to have someone worth tens of millions telling us plebs how to manage our money.//

Rich or not ,a lot of people have saved a lot of folding , through his advice .

I find him genuine in his efforts to assist us plebs

[THECORBYLOON]

"Doesn't sit well with me to have someone worth tens of millions telling us plebs how to manage our money."

If his suggestions save you money, what difference does his own wealth matter?

[jno]

better than being told how to manage your money by someone who's broke, goodgoalie.

I'm more inclined to listen people who've made their own money than those who've inehrited it or won the lottery, though.

[pastafreak]

We came to the UK in 1989, bought our first tiny house in 1990...I think we were paying 15.5%. A shocker!

[bobbie22]

I remember the mortgage rate going up so high. We had a letter almost every month telling us the rate was going up again. I honestly don’t know how we survived It was in the 1960’s I think

[Canary42]

Yes, I remember it well, we sometimes despaired of it ever going down.

[Caran]

It's ridulous really, it's so long ago and very hard to remember how we coped.

[webbo3]

I remember paying 17% in the 80s, Bradley Stoke in Bristol became sadly broke because of the amount of people with negative equities.

[Maydup]

I was broke and renting at the time but my peers who were trying to get on the property ladder had to have two jobs and take in lodgers to cover the mortgage payments.

Now we’re all older and have private pensions and a few savings, the rates are rock bottom!

That’s life.

[LadyCG]

Martin Lewis has saved the OH and me a small fortune over the years. I don't consider myself a pleb for not being as rich as him.

[barry1010]

Yes, I was paying that rate and now I have no mortgage and money in the bank the interest rate is rubbish

[barry1010]

I like Lewis but there are some things he has done that I don't particularly agree with