Yes the problem is definitely the interest rates not that a tiny town 40 miles from London and 4 miles from Stansted with all the noise and pollution that it involves is where family homes are sold for over £1M….
Confused why sellers didn’t see this coming? Everyone knew the market was going to crash with higher interest rates. These rates are going to be seen as good because internationally rates are going to keep rising and so the UK will need to. Time for mortgage reform.
My heart bleeds for those who are upset that their house is no longer increasing in value by 10% yearly. It really does..
House prices fell by 0.1% in September. Damn the bottom really fell out of the market last month!
always note those on 2% right now will have to remortgage to 6/7 % so the dumb mentality of IM GLAD I LOCKED IN doesn’t help you. You will be the most scuffed, living on low interest rates and suddenly a new bill of £500 extra appears.. OMG i wish i didnt take out that 5% mortage in covid /sigh.
They will all go homeless. If you went in at 5% during covid, you can be expecting 2k a month min… more than local rent.
My sisters boyfriend just sold his house. Great timing.
Housing is a necessity, not an investment. We should really make a point of repeating that loud and often.
7 comments
Yes the problem is definitely the interest rates not that a tiny town 40 miles from London and 4 miles from Stansted with all the noise and pollution that it involves is where family homes are sold for over £1M….
Confused why sellers didn’t see this coming? Everyone knew the market was going to crash with higher interest rates. These rates are going to be seen as good because internationally rates are going to keep rising and so the UK will need to. Time for mortgage reform.
My heart bleeds for those who are upset that their house is no longer increasing in value by 10% yearly. It really does..
House prices fell by 0.1% in September. Damn the bottom really fell out of the market last month!
always note those on 2% right now will have to remortgage to 6/7 % so the dumb mentality of IM GLAD I LOCKED IN doesn’t help you. You will be the most scuffed, living on low interest rates and suddenly a new bill of £500 extra appears.. OMG i wish i didnt take out that 5% mortage in covid /sigh.
They will all go homeless. If you went in at 5% during covid, you can be expecting 2k a month min… more than local rent.
My sisters boyfriend just sold his house. Great timing.
Housing is a necessity, not an investment. We should really make a point of repeating that loud and often.