Bank of England extends

9th December 2010

While homeowners, those with debts and anyone with a property to sell will be cheering the news, savers, income-seekers, particularly the over-55s and anyone with an eye to their future finances will have welcomed the news with a little less enthusiasm.

MonkeyNuts commenting on housepricecrash.co.uk is definitely in the first camp.

He says: "I have to admit I am enjoying this extended mortgage holiday… been so long now am starting to forget what it was like to be hit with £1,400 a month mortgage.

"I switched it to a interest only tracker to get it to below £1K a month in 2005, then when interest rate were cut to 0.5% it fell to just £200 a month, which is even less than my council tax.

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