SUPRASUZUKI Posted May 10, 2007 Share Posted May 10, 2007 I fixed last August for 7 years. That sees the mortgage paid off. No more sweating over rate rises for me. Quote Link to comment Share on other sites More sharing options...
Guest Nicholas Posted May 10, 2007 Share Posted May 10, 2007 I fixed last August for 7 years. That sees the mortgage paid off. No more sweating over rate rises for me. blimey good move that man Quote Link to comment Share on other sites More sharing options...
Feakins Posted May 10, 2007 Share Posted May 10, 2007 there won't be a crash, they won't allow it. Besides it needs more than high interest rates to trigger a crash. My rate is fixed until march 08 so I'll worry about it then Who's they? I don't think anyone has the power to stop it if things are getting bad, otherwise we would never of had one in the past. Quote Link to comment Share on other sites More sharing options...
Stevie Boy Posted May 10, 2007 Share Posted May 10, 2007 5 and 7year fixed rate mortgages! How did you manage to swindle that! Don't remember any offers that long being on the table when signing my life away, still 2years is quite a while and as things have got pretty nasty already fingers crossed theres enough time by then for a turn around. Quote Link to comment Share on other sites More sharing options...
Supragal Posted May 10, 2007 Share Posted May 10, 2007 Who's they? I don't think anyone has the power to stop it if things are getting bad, otherwise we would never of had one in the past. The government. They saw what happened last time! Quote Link to comment Share on other sites More sharing options...
Havard Posted May 10, 2007 Author Share Posted May 10, 2007 I fixed last August for 7 years. That sees the mortgage paid off. No more sweating over rate rises for me. Good shout, what interest rate is it fixed at if you don't mind me asking?? H. Quote Link to comment Share on other sites More sharing options...
Feakins Posted May 10, 2007 Share Posted May 10, 2007 Quote Link to comment Share on other sites More sharing options...
Havard Posted May 10, 2007 Author Share Posted May 10, 2007 [qimg]http://i105.photobucket.com/albums/m224/Feakins/houseprices.jpg[/qimg] Those graphs are what I looked at before. Let's see what happens next. Property prices WILL drop, it inevitable...... Although I will lose a bit on my current house, I will also save a lot on my new one!! H. Quote Link to comment Share on other sites More sharing options...
chilli Posted May 10, 2007 Share Posted May 10, 2007 for all us home owners, now might be a good time to sell up cash in, rent for a few years and buy when the prices hit rock bottom however no one can truly predict a crash, people were saying there might be one 6 or 7 years ago when I was looking and I nearly held off, so glad I didn't as they then climbed more, to the point I wouldn't have been able to afford what I wanted at the time! you always do ok out of property if you can be in it for the long term and ride out the hard times interest rates are still low, relatively speaking. If you're feeling the pressure at 5.5% me thinks you've stretched too far already anyway Quote Link to comment Share on other sites More sharing options...
Feakins Posted May 10, 2007 Share Posted May 10, 2007 Quote Link to comment Share on other sites More sharing options...
toyotasuprauk Posted May 10, 2007 Share Posted May 10, 2007 You need somewhere to live anyway so it’s not like any other investment. People that are feeling the increases in the interest rate on a variable mortgage most be unbelievably stretched or have a HUGE mortgage or both. Quote Link to comment Share on other sites More sharing options...
Stevie Boy Posted May 10, 2007 Share Posted May 10, 2007 Are there's me thinkin someone had decided to post up Dyno charts of their latest Ultra laggy Super Size Single tubbie! On a serious note that graph does look like were set up for a big fall from up there, looks like i'll be stayin in this 2bed for sometime! Quote Link to comment Share on other sites More sharing options...
tbourner Posted May 10, 2007 Share Posted May 10, 2007 Why does it matter if it falls though? Just don't sell your house during the fall!! It'll soon go up again. I think you're still throwing more money away waiting 5+ years renting than if you buy now - rather than buying in 5 years during a possible 'drop'. Quote Link to comment Share on other sites More sharing options...
Stevie Boy Posted May 10, 2007 Share Posted May 10, 2007 Good shout, what interest rate is it fixed at if you don't mind me asking?? H. I was intrigued to know this as well, i've just checked and my 2year fixed was at 4.980% till 31/12/2008 so i have a month longer at that fixed rate than i thought Curious to know what rate a lender would offer over such a risky fixed long term like 5 or 7years. Quote Link to comment Share on other sites More sharing options...
toyotasuprauk Posted May 10, 2007 Share Posted May 10, 2007 I would only expect a lender to fix for seven years if they were pretty sure the rates were going to fall. Only option I had 2 years ago was 2 years fixed. Quote Link to comment Share on other sites More sharing options...
Feakins Posted May 10, 2007 Share Posted May 10, 2007 http://www.britannia.co.uk/mortgage/fixed/7_year/index.html You can even fix for 25 years let me google it. Quote Link to comment Share on other sites More sharing options...
tbourner Posted May 10, 2007 Share Posted May 10, 2007 I'm on 5 years fixed, 4 years left, it's 5.99% - that's the Northern Rock 100+% mortgage though! Quote Link to comment Share on other sites More sharing options...
Feakins Posted May 10, 2007 Share Posted May 10, 2007 5.49% for 25 years http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article1572896.ece Quote Link to comment Share on other sites More sharing options...
toyotasuprauk Posted May 10, 2007 Share Posted May 10, 2007 Fixed at 5.49% is amazing for 25 years! Bit mad to fix that far into the future anything could happen by then. Personally I think the fixed at 6.95% is at this current moment quite high, might not be in a years time though? Quote Link to comment Share on other sites More sharing options...
tbourner Posted May 10, 2007 Share Posted May 10, 2007 Sorry, just checked, mine's actually 5.99%. Quote Link to comment Share on other sites More sharing options...
Stevie Boy Posted May 10, 2007 Share Posted May 10, 2007 5.49% for 25 years http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article1572896.ece Blimey that's really good, at least you'd know where you'd stand for the next 25years. No point tracking a base rate which is likely to be higher when you can fix a low rate like that for duration of mortgage! Quote Link to comment Share on other sites More sharing options...
Havard Posted May 10, 2007 Author Share Posted May 10, 2007 I am surprised how low the rates are over such a long length of time. I would imagine they are very inflexible though. All kinds of things can happen during that time, divorce, family expansion etc. Your priorities and demands change from year to year so I would not sign myself up for such a long length of time. H. Quote Link to comment Share on other sites More sharing options...
Feakins Posted May 10, 2007 Share Posted May 10, 2007 I think the average Base Rate is something like 8% so it does sound like deal, maybe they do it because the chances are you will have to pay it off early and pay a big penalty! Quote Link to comment Share on other sites More sharing options...
Wez Posted May 10, 2007 Share Posted May 10, 2007 Ahh crap, I am variable Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.