Mortgage Rate Rise.

[yeseye]

The figure I cannot guestimate is how much per annum per one per cent yearly increase is it on 100k ?
Maybe a 1% ijncrease on an interst only would be 1k a year but dont know how to wrk out a repayment capital plus interest figure ?

http://www.bbc.co.uk/news/business-33568469

 

[squirtyflower]

The figure I cannot guestimate is how much per annum per one per cent yearly increase is it on 100k ?
Maybe a 1% ijncrease on an interst only would be 1k a year but dont know how to wrk out a repayment capital plus interest figure ?

There's a calculator on money saving expert that allows you to alter the %

 

[Two Gun Bob]

http://www.bbc.co.uk/news/business-33568469

Absolutely perfect Yeseye...You are wasted on this Moons surface !
Moderational talent pishing away and exactly what I was looking for.

I forecast at least a half a per cent per annum over the five year fix ?
It's a guess but feasable.

 

[Two Gun Bob]

There's a calculator on money saving expert that allows you to alter the %

Thanks mate it was the repayment calculi per 1% that had me vexed.
Interest only was straight forward.
They are speaking with the London County chap tommorow morning and thanks for the assistance.

 

[Two Gun Bob]

Neither a borrower nor a lender be.

Ok roll your sleeves up Baconface.

 

[sir baconface]

Ok roll your sleeves up Baconface.

Not a mortgage consultant, financial adviser or estate agent in sight. Oh joy.

 

[Hoghead]

I think I paid 15% interest for a few months in the 80's.
Frightening.
Owe fook all now, made sure of that.

 

[denislawsbackheel]

I think I paid 15% interest for a few months in the 80's.
Frightening.
Owe fook all now, made sure of that.

It was less than a few months I think but I was happy to fix at 9% for ten years as a consequence. I knew I could afford that. 15% would have meant selling up.

Stupid fucker of course because the only way was down after that and it cost me a lot to get out of that mortgage.

 

[JASR]

Regarding interest (and saving for a house), read the MSE guide on lifetime ISA's (LISA). Govt matches 25% of what you put in, up to 4K, so effectively giving you 25% interest in 1st year. That obviously smooths out , over time so , after 6/7/8 years you would have earned that much in the normal highest earning savings accounts.
But you can put in another 4K the next year etc, and get 25% on those as well.

You need to open with at least £1 (age 18-40) but can shove any other money (up to 4K) in at any point, or not at all.

 

[its a Barm]

I think I paid 15% interest for a few months in the 80's.
Frightening.
Owe fook all now, made sure of that.

I remember it at 17% at one point I was lucky to have fixed for a number of years but my best mate hadn't I had to lend him £4000 to get over a couple of months, there where so many repos going on at that time, I have just fixed for my last 5 years at 1.92% happy with that as its only going up from now on.