Also with most locked in to a set rate, what do we think a few years time will be like when most have to renegotiate a new fixed therm?
Im kind of glad i havent bought yet, but the cost of everything else while renting is insane, its hard to see what the better decision was
“I’m really struggling with the interest rate hikes. I have a tracker mortgage. I was told not to fix so it’s gone up nearly €400 a month. ”
I’d love to know who told her not to fix.
Everybody has been saying that if you are on a tracker to fix for the last few years.
I have very little sympathy for people on trackers tbh.
They essentially paid no interest for ~15 years, and are now complaining and want government to interveen when the inevitable happened.
As a single tennant with the rent of €1200+ and rising every two years, I say “fuck them”.
With the new change to single parent allowance, it would be financially better for me to leave the family home and live with my parents so my wife could claim it and a second means tested payment. It’d almost double our joint income and would take all the financial pressure off. The government has no interest in helping most people.
Whatever about FTBers or those whose mortgages have been bought by vulture funds it’s hard to have any sympathy for tracker customers. They could have fixed at much lower rates ages ago.
I’d a year left on a fixed rate, broke it and fixed for a future 5 years. It didn’t take a genius to know that rate increases were coming.
I think we really need to just adopt 30 year fixed mortgages like are commonly issued in the USA. People simply can’t be trusted in this country to make sound decisions in terms of mortgage finance.
6 comments
Is there many here still on tracker mortgages?
Also with most locked in to a set rate, what do we think a few years time will be like when most have to renegotiate a new fixed therm?
Im kind of glad i havent bought yet, but the cost of everything else while renting is insane, its hard to see what the better decision was
“I’m really struggling with the interest rate hikes. I have a tracker mortgage. I was told not to fix so it’s gone up nearly €400 a month. ”
I’d love to know who told her not to fix.
Everybody has been saying that if you are on a tracker to fix for the last few years.
I have very little sympathy for people on trackers tbh.
They essentially paid no interest for ~15 years, and are now complaining and want government to interveen when the inevitable happened.
As a single tennant with the rent of €1200+ and rising every two years, I say “fuck them”.
With the new change to single parent allowance, it would be financially better for me to leave the family home and live with my parents so my wife could claim it and a second means tested payment. It’d almost double our joint income and would take all the financial pressure off. The government has no interest in helping most people.
Whatever about FTBers or those whose mortgages have been bought by vulture funds it’s hard to have any sympathy for tracker customers. They could have fixed at much lower rates ages ago.
I’d a year left on a fixed rate, broke it and fixed for a future 5 years. It didn’t take a genius to know that rate increases were coming.
I think we really need to just adopt 30 year fixed mortgages like are commonly issued in the USA. People simply can’t be trusted in this country to make sound decisions in terms of mortgage finance.