Would have priced us out of the market. Thankfully we completed last week on a now very good rate for 5yrs which should be enough to ride out the storm.
Quicker the tories are out the better, the speed of which they’ve damaged the economy is disgusting.
Less than a year ago I secured a mortgage for ~1.3% in a 5 year fixed for comparison
Thankfully once that period ends, we’ll be in a relatively good position to manage even with significant interest rate rises and I appreciate historic lows of the time and interest rate rises were inevitable at some point
but the speed at which this change has occurred is frightening.
My fixed rate coming to an end April 2023, right on the eye of the storm. The moment I reached the 6 month window 2 weeks ago, I spoke with mortgage advisors, the rate the gave jumped from 3.8% to 6% in a matter of days while we were filling the application… Insane
3 comments
Would have priced us out of the market. Thankfully we completed last week on a now very good rate for 5yrs which should be enough to ride out the storm.
Quicker the tories are out the better, the speed of which they’ve damaged the economy is disgusting.
Less than a year ago I secured a mortgage for ~1.3% in a 5 year fixed for comparison
Thankfully once that period ends, we’ll be in a relatively good position to manage even with significant interest rate rises and I appreciate historic lows of the time and interest rate rises were inevitable at some point
but the speed at which this change has occurred is frightening.
My fixed rate coming to an end April 2023, right on the eye of the storm. The moment I reached the 6 month window 2 weeks ago, I spoke with mortgage advisors, the rate the gave jumped from 3.8% to 6% in a matter of days while we were filling the application… Insane