Not at all. Risen back up to what it’s pretty much been for the last decade bar for last 18 months.
Media scare mongering as usual.
It’s still an unbelievably low rate.
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Not at all. Risen back up to what it’s pretty much been for the last decade bar for last 18 months.
Media scare mongering as usual.
It’s still an unbelievably low rate.
The first rise for 10 years, when I was paying a mortgage in the 90’s it was 12% and my mortgage repayments were 14%Originally Posted by Henry Hill
I managed to get a 10% fixed rate through that period.
Had to remortgage sharpish when the rates plummeted.
my work mate at the time was in the same boat, he was also in negative equity and just couldnt move as his house was worth more than 20K less than his mortgage, I was still at home in my mums houses and would often " sub him " so he could have a beer or 2 on a friday
I would hate for them times to return, as back then we were taking 50 K mortgages, now we are talking 250 K, they just wouldnt survive
At the risk of sounding like a character from the Monty Python sketch, eeeh, thee had it soft lad. When I were a lad and had my first mortgage the rate reached 18% (early 1980's).
Early 80’s? Pah! You were lucky!
Bought my first house in 1990 with average house prices double what they were in 1980, with a 16% endowment mortgage. That went well.
Tell me about it! The house I bought cost £18,000. Just 9 years earlier it had sold for £3000!
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