Hi Kittycatx,

OK, understandable. Copied below is some information I received yesterday. Interest rates are very competitive and generally the Bank is OK. It is your worth to investigate more.

Best wishes,

CS

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With effect from the 22nd of April 2008, we are increasing the interest rates on the HiSAVE Term Deposits.

HiSAVE Term Deposits opened on or after the 22nd of April 2008, will have the following rates:

HiSAVE Term DepositCurrent interest rateNew interest rate1 year term deposit6.65% AER / Gross7.00% AER / Gross6 month term deposit6.50% AER / 6.40% Gross 6.70% AER / 6.59% Gross

In that case you'd better hope to high heaven that the housing market doesn't rise!

I know many people who did the same a few years ago, and now are still renting because they will never afford to get back on the market. They always spend all or a proportion of the equity they have, and cannot resist just using the interest.

There is nothing safer than bricks and mortar! Just like any investment, there are some risks, but over the longer term properties do increase in value.

Penniesmakemillions:

In that case you'd better hope to high heaven that the housing market doesn't rise!

I know many people who did the same a few years ago, and now are still renting because they will never afford to get back on the market. They always spend all or a proportion of the equity they have, and cannot resist just using the interest.

There is nothing safer than bricks and mortar! Just like any investment, there are some risks, but over the longer term properties do increase in value.

PMM I agree overal property has gone up over the years, I have known people get into liquidity problems with portfolios not being able to get at the cash when they are highly geared. However, I know people who have given up their day job to invest/reinvest in properties so overall I agree with you medium/long term good bet :-)