Another reason for Rishi to pull the trigger before May…
Mortgage rates are on their way down, albeit slowly at the moment.
My advice for those expiring in the next few months is to let it lapse onto the default rate, suck up the hit for that period, and strike at the right time for the refix.
Blimey. Not sure where I’m gonna find an extra £19bn from?? May have to sell my beanie baby collection.
I’m sure those remortgaging can roll on sweet 3.9% rate at 60 LTV
Of course, the banks by keeping interest rates high make alot more money from mortgages than they can anywhere else in the market currently, no one is really borrowing money and the stock market is flat.
Another 2 years of high interest rates, and when the mortgage renewal period is complete by October this year, we are expecting the interest rates to move up again by 2%….
If fucking house prices were x3 salary and not x10
I got until 2027 thank fuck.
1.29%
Jammy. Got a 5 year fix back in December 2021. Pure luck, as that’s just when my previous 5 year fix happened to run out.
I fixed at 4.01% for five years, over a year ago now. I thought, at worst, the rate would be roughly the same by the time the fixed rate comes to an end, but even that may be asking too much now.
I am so glad I took a variable rate mortgage pre-pandemic and overpaid as much as I could to reduce my overall debt to nearly nil. In hindsight, the best financial decision I’ve made.
9 comments
Another reason for Rishi to pull the trigger before May…
Mortgage rates are on their way down, albeit slowly at the moment.
My advice for those expiring in the next few months is to let it lapse onto the default rate, suck up the hit for that period, and strike at the right time for the refix.
Blimey. Not sure where I’m gonna find an extra £19bn from?? May have to sell my beanie baby collection.
I’m sure those remortgaging can roll on sweet 3.9% rate at 60 LTV
Of course, the banks by keeping interest rates high make alot more money from mortgages than they can anywhere else in the market currently, no one is really borrowing money and the stock market is flat.
Another 2 years of high interest rates, and when the mortgage renewal period is complete by October this year, we are expecting the interest rates to move up again by 2%….
If fucking house prices were x3 salary and not x10
I got until 2027 thank fuck.
1.29%
Jammy. Got a 5 year fix back in December 2021. Pure luck, as that’s just when my previous 5 year fix happened to run out.
I fixed at 4.01% for five years, over a year ago now. I thought, at worst, the rate would be roughly the same by the time the fixed rate comes to an end, but even that may be asking too much now.
I am so glad I took a variable rate mortgage pre-pandemic and overpaid as much as I could to reduce my overall debt to nearly nil. In hindsight, the best financial decision I’ve made.