Rip Off World

[Andy]

The Bank of England minimum lending rate is 5% and here is a list of the top interest rates available to savers with direct access to their money. It just shows what a rip off the banking industry is in the uk. For example, credit card lending rates often have interest rates as high as 20% (store cards 30%) plus it's funded by savers/investors on these low interest rates:

ING Direct         4.75
   Egg    4.70
   Bradford & Bingley    3.86
   Barclays Bank    3.81
   Nationwide Building Society    3.80
   Abbey    3.58
   Woolwich    3.53
   Portman Building Society    3.45
   First Direct    3.44
   Alliance & Leicester    3.39
   Lloyds TSB    3.31
   Yorkshire Bank    3.24
   Yorkshire Building Society    3.19
   Natwest    3.18
   HSBC    3.05
   Royal Bank of Scotland    3.01
   Halifax/Bank of Scotland    3.01
   Britannia Building Society    2.99
   Cheltenham & Gloucester    2.94
   Co-operative Bank    2.56

The housing market is being driven up by estate agents and lenders so people have to borrow phenomenal amounts of money to buy property and it's funded by savings of the elderly people who can't afford to spend their money due to low savings interest rates.

How about your country? Is the non-productive finance industry bringing your quality of life down too?
How many years does it take to pay in full for the house you live in?

[12noon]

I think what Andy has said is just about spot on. Houses have more than trebled in the last 4 or 5 years. I wouldn't like to think i was trying to buy one now.