Mortgage deal ending

I enquired about a new rate for our mortgate which will go up about £100/month which isn't too bad but we've only a few years left to pay it off. I feel so, so, so sorry for those younger ones who''ve big mortgages to pay off.

I'm torn to be honest. I don't think interest rates are high because of "demand", it's the opposite. Demand isn't there and the interest rates are high because of inflation from Brexit and Ukraine. The inflation from Brexit is baked in now and the Ukraine inflation is going to be for a while as well. I do think the days of cheap mortgages are over and in any event, there NEEDS to be a house price correction.

I just wish we had a competent Chancellor and BoE Governor. Neither are.
 
Managed to sort mine yesterday. £156 extra a month, but the twats also charge £999 product fee, or your monthly payments end up being even more.

I hate these money grabbing cunts
 
really tempted to go with a 10 year fix for 4.7%

rahhhhh ! if only we could predict the future.
 
Eligible to renew from 30/6, with current deal ending 31/12.

Logged on and there is a 2 year deal waiting for me, 6% with no fees. Puts my current mortgage up a ton extra per month.

Not looked into it properly but I’m guessing that would start immediately.

Is it likely that 6% will rise, or should I wait until closer to the time where this deal ends in December?
 
LangleyBlue1970 said:
Eligible to renew from 30/6, with current deal ending 31/12.

Logged on and there is a 2 year deal waiting for me, 6% with no fees. Puts my current mortgage up a ton extra per month.

Not looked into it properly but I’m guessing that would start immediately.

Is it likely that 6% will rise, or should I wait until closer to the time where this deal ends in December?
Click to expand...
They are saying that the base rate will be 6% before the end of the year. Mortgage rates are normally 0.5 to 1% above this figure and can be more depending on your LTV.

Feel sorry for you though mate because a ton is a hell of a lot of money to suddenly have to find each month.
 
LangleyBlue1970 said:
Eligible to renew from 30/6, with current deal ending 31/12.

Logged on and there is a 2 year deal waiting for me, 6% with no fees. Puts my current mortgage up a ton extra per month.

Not looked into it properly but I’m guessing that would start immediately.

Is it likely that 6% will rise, or should I wait until closer to the time where this deal ends in December?
Click to expand...

Don't wait, get fixed.

If they drop then they can reduce it in line again nearer time

Unlikely to drop by then.
 
blue44 said:
I got a 10 year fixed 4 years ago at 2.49%.
when i come off that i have 3 years left and will just pay off the remainder.
So glad i did it now
Click to expand...
Well done. I was reading an article saying that 2 years ago there were 10 year fixes for around 2%. If that is accurate anyone who didn't take one out at that rate needed their head feeling. The potential increases in rates from that level far outweighed the possible future savings due to rates falling further, they were already at 0.5% at the time anyway. Bank rates of less than 3% are a thing of the past now that QE has stopped. I'd still like to know how many people were tempted to borrow for other things against their house at the very low rates and are now faced with much higher costs for things like cars and other big ticket items.
 
The country going to be fucked for a long time 10 year fix mortgage is a wise choice I’d say.. reports more are going for variable rate Mortgages they think it’s going come down! Personally can’t see it going to back where it was and will be at 2% at best in the future
 
You must log in or register to reply here.
Unread Posts

Don't have an account? Register now and see fewer ads!

SIGN UP
Back
Top
✖
  AdBlock Detected
Bluemoon relies on advertising to pay our hosting fees. Please support the site by disabling your ad blocking software to help keep the forum sustainable. Thanks.