interest rates cut-sick as a parott!!!

Mutton_Geoff

To cheer you up, I looked at a couple of my old places on Rightmove today. I used to to own this flat. In fact I bought it new in 1981 and paid £19,950 for it.

Looked at my second place and see a couple of neighbouring properties on Rightmove for £400k+ compared to my purchase price of £32,500 in 1983.

Long term you'll see it was all worthwhile even with this temporary correction.

AMILLIONDOLLARS

I fixed with Nationwide at the beginning of the month at 5.78% for 3 years, No fee. Visiting their website at the weekend I noticed that this deal had been withdrawn. Considering I was on their 6.49% variable rate before, I am happy with the saving I will be making. As suggested I will use the money being saved to make over payments and when the deal ends it won't be too much of a shock having to pay the variable rate again especially if the rates will be lower than they are now.

So don't worry about it, you can't go through life thinking if only!!!!
AMD

d900

i got my house just over 3 years ago.
got a 3 year fixed @5 %
last 4 months been on a tracker
happy its now at 4.5%

of course id rather be moaning because i had loads of savings but heh u cant have it all

shell1000

you win some you lose some! my first mortgage was at 4% and then 4.5% for the next two, at the end of the day those rates were very low and lucky! just remortgaged fixed for three years at 5.95 with first direct, who have been amazing, they have passed the variable rate drop on already so that it is 5.5 which is lower than my fix, did i kick myself?

well no, because i chose to fix and have the security of knowing i can afford my repayment.. its like fixing your gas/elec.. yes you pay more in the short term but less in the long term.

Im only old enough to vaguely remember the rates Mutton Geoff referred to, but my parents have told me all about it when people used all of their salaries just to pay their mortgage as interest rates were 15%.

We are the lucky ones as we have no negative equity, have been able to secure a mortgage and know what we are paying for several years. You can't always win and get the best bargain but Im happy with the deal i opted for at the time and what will be will be

don't beat yourself up about it!

hethmar

That right shell, our mortgage shot up to over 15% in the early 90s - hence me always fixing since that time. Its better for me to feel safe than have the horror of that happening again.