Not true Albs: The rate the can borrow money at has gone down through things like QE, so they are passing that saving on to you in reverse. Another example is the ECB LTRO where they are borrowing at 1% which is lower than the current Libor rate.
They have to
boost their bonus funds repair their balance sheets somehow and as a
captive sucker valued customer and indirectly tax paying
sucker shareholder they will treat you
like a female genital how they like.
It not only bothers you, but also Shaun Richards where he wrote about it in his blog yesterday.
http://www.mindfulmoney.co.uk/wp/shaun-richards/does-it-bother-only-me-that-mortgage-rates-are-rising-whilst-the-bank-of-englands-quantitative-easing-is-supposed-to-cut-them/Unfortunately in Rip Off Britain we have many cartels, which when one raises their prices the rest follow, normally while running expensive advertising campaigns telling us how wonderful they are and how luck we are, where they are practically giving the stuff away.
Examples are: Banks, Energy companies, Water Companies and the big 4 supermarkets, they are all increasing their profits in a
depression recession, where if there was real competition they would be falling, where they were each trying hard to keep market share. Even though Tesco is losing slight market share, where their current management is not up to the job, (they forgot a long time a go how to sell them cheap, but they are currently suffering where they have also forgotten how to stack them high, with appalling stock control), increasing margins and profits is a higher priority than maintaining market share.
Don't forget their motto: At Tesco every little
snidely done un-noticed price rise helps
boost our profits.
Author
Topic: Mortgage rise. Why? (Read 5974 times)