I think long term, we expect them to go back to 3% to 4%, so yes, quite possibly.
But you also have to look at the housing market – that probably makes more of a difference at this. It still has potential to go down further.
This is great news. Although I feel sorry for people who got 5 year deals at just the wrong time. Last thing our housing market needed was high interest rates. Let’s hope they keep falling.
[deleted]
I’m slowly feeling better.
My current fixed ends at the end of June and I’m currently on 3.75%.
Currently, in the process of buying first house, best we’ve managed to get is 4.34% for a 5 year 5 month fix from HSBC for 21% deposit. but that was Just over a week ago on the 10th of Feb.
I wonder if they are likely to drop much further before all gets settled and finalised as they have already dropped from 4.64% for the same quote in January.
Does everyone know this rate is only for mortgages over 400k and a 2k fee. Out of reach for most FTB’s.
We fixed at 1.6% for 5 years a couple of years ago, pretty smug about it I can tell you
Still waiting for Santander to update, they’re still over 5 & 6%. Reluctant to swap due to the process but may change if it means a cheaper monthly!
We fixed back in September at 3.5% for 5 years, was pretty depressing seeing the rates keep jumping up at the time with nothing we could do. Even so I’m happy to have the stability of 750 a month for the foreseeable.
Got our statement today, ours was 1.85!!!! Expires in 2026.. let see how that works out .
Last I heard, 5 years were getting better rates than 2 years, which tells me they are expecting rates to drop within 2-4 years.
I have 100k left on 2pc for 8 more months.
I have the cash to pay it off. Should I?
Or leave the cash in stocks ISA?
If there’s a recession then likely my stocks will drop and I’ll still be paying mortgage interest
Have you read the details? £2000 fee, 60% LTV and minimum borrowing of £400,000.
14 comments
The remoaners must be devastated.
I think long term, we expect them to go back to 3% to 4%, so yes, quite possibly.
But you also have to look at the housing market – that probably makes more of a difference at this. It still has potential to go down further.
This is great news. Although I feel sorry for people who got 5 year deals at just the wrong time. Last thing our housing market needed was high interest rates. Let’s hope they keep falling.
[deleted]
I’m slowly feeling better.
My current fixed ends at the end of June and I’m currently on 3.75%.
Currently, in the process of buying first house, best we’ve managed to get is 4.34% for a 5 year 5 month fix from HSBC for 21% deposit. but that was Just over a week ago on the 10th of Feb.
I wonder if they are likely to drop much further before all gets settled and finalised as they have already dropped from 4.64% for the same quote in January.
Does everyone know this rate is only for mortgages over 400k and a 2k fee. Out of reach for most FTB’s.
We fixed at 1.6% for 5 years a couple of years ago, pretty smug about it I can tell you
Still waiting for Santander to update, they’re still over 5 & 6%. Reluctant to swap due to the process but may change if it means a cheaper monthly!
We fixed back in September at 3.5% for 5 years, was pretty depressing seeing the rates keep jumping up at the time with nothing we could do. Even so I’m happy to have the stability of 750 a month for the foreseeable.
Got our statement today, ours was 1.85!!!! Expires in 2026.. let see how that works out .
Last I heard, 5 years were getting better rates than 2 years, which tells me they are expecting rates to drop within 2-4 years.
I have 100k left on 2pc for 8 more months.
I have the cash to pay it off. Should I?
Or leave the cash in stocks ISA?
If there’s a recession then likely my stocks will drop and I’ll still be paying mortgage interest
Have you read the details? £2000 fee, 60% LTV and minimum borrowing of £400,000.
Don’t break out the champagne yet!