@Edukator – we are due for a long period of low interest rates, I don’t see what is going to trigger a fall. Any rate rise is going to be relatively modest.
Ahem – from the other thread about our obsession with house prices
I remember when my then GF and I had signed out lives away on an Endowment mortgage of all of £42k ( 2 bed cottage) when the interest rate went from 4 to 17% over the course of just 48 hours
No sleep for a bit after that
No-one can make assertions like ‘we are due for a long period of low interest rates’ unless you’ve overcome the challenge of time travel! Especially when conditions have no historical precedent.
What seems more likely is that BoE/UK government will do everything they can to avoid doing it because the country is so indebted there’ll be a collapse in confidence if they too it too quickly and too soon, and we’d be back in another bust.
On the other hand, to ensure growth doesn’t get out of control (and lead to another bust), they may have to raise interest rates.
I’m pretty glad I’m not involved in trying to get that decision right tbh.