Fixed Rate Mortgage Help

thomas1

Here's A Thought That I Have Been Huffing And Puffing At Since The Goverment Decided To Help Out The Banks .

I Must Be In The Same Boat As A Lot Of Hard Working People That Changed Mortgages Over The Last 18 Months ,.at The Time I Considering My Options And Decided That I Would Not Over Stretch Myself And Went For A 10 Year Fixed Rate Of 5.29 % With The Barclays . Then The Goverment Bails Out The Banks . The Banks Stay Afloat . The Goverment Drops The Base Rate , Forcing The Banks Hand To Lower Interest Rates . The Customers( Some ) Dont Have To Pay Back So Much And Can Afford To Buy Lots Of Other Nice Things .
It Seems That Responsible Fixed Raters Are Excempt From The Indirect Financial Support The Goverment Has Put In Place .
Can We Start A Forum To Support An Automatic Cut To Fixed Rate Owners In Line With All The Other Cuts . After All Its Tax Payers Money That Has Kept The Banks On The Street .
Why Should We Suffer For Being Responsible .
If Somebody Like Martin Got On Board He Would Have Them Over Because They Cant Use The Arguement That The Fixed Rater's New What They Were Getting Themselves Into . Because Thats The Opposite That The Banks Have Being Using As Their Excuse .

devon_guy

That's just utter nonsense. A fixed rate deal is precisely that. It's a gamble you take just as you would a tracker mortgage or staying on SVR. You took the choice to go on a fixed rate so now you have to stick or pay hefty fees to get out.
I'm sick of people moaning that they are stuck on high fixed tariffs when the base rate has dropped. I bet you wouldn't be moaning if the rate had gone up 3%

Oh and before anyone moans, I'm on a fixed rate myself

thomas1

Banks Gamble So Why Did They Get Bailed Out With Part Of My Tax Money .

ragstoricheswannabe

i too am on a fixed rate and was glad of that with the massive hikes in interest lately. think you have to take the rough with the smooth when fixed. if they started changing the rates down then they would have to hike it up too, thats then not fixed, thats tracking.......................

dave_cdti-sri

I have an almost identical thread open here...
http://forums.moneysavingexpert.com/showthread.html?t=1335629

Please see.

Regards

Dave

neas

In all honesty.. you bet on red and it came up black.

Stop being jealous and move on. Some people were forced onto 6-7% rates..while you fixed at a lower rate... fixing means you have piece of mind but at a set interest... it could be higher or lower than the current interest rate.

ragstoricheswannabe

also, many people who have had their rates cut are probably not out buyng nice things like you suggested, they are probably trying to keep their heads above water, what with all the job losses and small buisness's going bust........

Chippie

thomas1 wrote: »

Banks Gamble So Why Did They Get Bailed Out With Part Of My Tax Money .

Your Writing With Capitals Style Is Very Annoying!
But....... not as annoying as your flawed logic! :rolleyes:

mrs_deadline

You've got a decent fixed rate that you can afford, and over the 10 years you'll probably be quids in. None of us knows how long this crisis will go on, or what state the economy or the pound will be in by the end of it.

If you were saying let's see if we can channel these unexpected, short-term interest rate windfalls into helping real victims of the recession, especially those losing their employment through no fault of their own, I'd have more sympathy.

thomas1

Although I Agree In Principal With Your Replys . Consideration Has To Be With The Facts , That The Banking Rules Have Gone Out Of The Window . Th Goverment Has Put A Finacial Package Together To Benifet The Man And Woman On The Street To Reduce There Outgoings To The Banks And To Put Money Into The Economy To Keep It On Its Feet .
Just Because I Have A Contract That Says I Am Fixed Shoudnt Meen That I Am Excempt From Help Just The Same As Others .
A Lot Of The Other Rules And Bank Contracts Have Been Torn Up And Thrown Away .

_Andy_

Take caps lock off - your posts are pretty much un-readable.