Captain Dart
Well-Known Member
Well good for me as I own no debt, interest rates are going up, the BoE have been warning everyone. Carney expects rate rise in 'near term'
Since 2014... and each time the £ has seen a jump in value... The impact is lessening on each occasion though.Has he not been saying this on and off for a couple of years or more? I'm on a tracker deal so have been loving it the past 8 years or so but I have started keeping an eye out for a fixed rate deal just in case the inevitable happens. Hopefully it won't be for the next 16 years though...
Not sure it counts as good news really, as the low rates have kept the economy spluttering along, probably prolonged the agony for some... Jeez its like supporting us!Well good for me as I own no debt, interest rates are going up, the BoE have been warning everyone. Carney expects rate rise in 'near term'
We very nearly did the same. Choice of two years, three years, or five years and we nearly plumped for three, but I said 'let's go for five and secure it.' It was only a few pounds difference per month.Fixed till March 2019 but do wish we had fixed longer.
No, but Grendel may have to let one or two servants go.If it does goes up which is not certain it won't be by much maybe back to 0.5% or so. Hardly a massive increase and much to worry about in my opinion.
No, but Grendel may have to let one or two servants go.
Was just thinking in terms of the rise in his £1.75m mansion mortgage.I think he might hire a couple more if the rates rise....
Was just thinking in terms of the rise in his £1.75m mansion mortgage.
Payments would surely go up to about 30 grand a month.
Was just thinking in terms of the rise in his £1.75m mansion mortgage.
Payments would surely go up to about 30 grand a month.
I gambled and jumped ahead, signing up for a five year fixed rate mortgage. Not going to hit us now until 2022, fingers crossed.
I have a small mortgage - can't say I know the rate - i would pay off it rates rise much.
Could do with an interest rate rise as I've settled my pension and could live on 3% comfortably.
Oh for the days when it was 15% eh?
Signed for my first house on that - fun baby boomer times.
Had better fix mine asap
How much was the house though? And how much did you have to borrow X your salary?
It's all relative.
Edit: Genuine questions by the way, I'm not getting into an argument about mortgage rates.
I think it was around £35,000 and on a salary of around £13,000? It was expensive around £400 a month
Decent whack a month on that salary.
It would. The brave man would sell now and rent for a year or two... with the potential for that to go horribly wrong.It obviously will not but if rates escalated to 15% many houses would become repossessed and market forces would drive prices down.
Whilst actually agreeing with this!In truth I think cripplingly high rates and virtually zero rates are both unhelpful.
I think it was around £35,000 and on a salary of around £13,000? It was expensive around £400 a month
We had an endowment!
You've left school now though right?I did I cashed in to pay school fees in the end
I did I cashed in to pay school fees in the end
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