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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How much will it effect you if at all?
Last edited by Llanedeyrnblue; 02-11-17 at 18:35. Reason: Cos I can
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.
I'm going to lower my interest in the subject by the same amount that it has risen and it wont effect me one jot. If I think a bit more about nonsence and football I might even get into negative equity with a bit of luck.
Pound's declined 1.5% versus the US dollar today and is down 1.8% against the euro because the indications are the base rate won't rise again soon. The Bank of England, along with the Yank Fed, etc, know that if they don't keep real interest rates negative then all the financial bubbles they created with cheap credit, QE, stock buybacks and pumping 15 trillion dollars of magic money backed by nothing into the system since 2008 will bring the whole shite show to its knees.
Cannot believe the News progs have made such a big thing of it. Or tried to.
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
Yep, you will. For a start you'll have a great LTV value (I would assume), and also your interest rate will be below 3%.
https://money.comparethemarket.com/m.../?AFFCLIE=CM01 - will give you some clue.
If I were you, I'd be tempted to pay the same amount on a mortgage, and try to pay it all off as quickly as possible.
For me, I have 4 years of my fixed rate to go. I struggled to meet the affordability, and I guess I may struggle again in 4 years time. No doubt, I'll be in a position of not being able to take a cheaper mortgage because they will claim I can't afford it whilst, at the same time, paying a mortgage with a higher interest rate.
I’m going to play bollocks with Nationwide when I go in there to remortgage and say I was mis sold a 10 year fixed so I want the best rate possible. They were doing 2% 5 year fixed before this increase so I’m hoping for around 2.5% tops.
ill probably look to pay the same and shave a few years off.
Then again my kids are 9 and 13 so could do with the extra money that they seem to be costing me every year.
Cross that bridge next May
Back to 5% would be nice. They always say there are 40 million savers in the uk earning no interest, is that true? Seems a high figure. Lots of oldies struggerling after saving all their lives. Agree about the fuss, pathetic rise, hardly makes a dent fir anything......
First place I bought was £11,000 in the early eighties, sold it for £27,000 in 1989, interest rates on the mortgage then was around 15% I think. Bought a place in 1989 for £40,500 spent £15,000 doing it up, everything went tits up when we sold it in 1996 and it sold for only £37,000