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What would you do if Interest Rates were 18%
Comments
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Gorgeous_George wrote: »My BTL tracker is now 1.89% for the life of the mortgage. I'm not sure I'll see a reasonable fixed rate that will tempt me away from my tracker.
Good luck.
GG
Depends if you see the BoE rapidly increasing during your BTL term I guess.
Your tracker is excellent with these low rates.
Wouldn't look so good against someone fixing at 5% and if the BoE went to say 8%:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
Rejoice.
(and spurious padding needed to meet the 10 charachter minimum message)I can spell - but I can't type0 -
Like many other posters I too remember when interest rates hit 16% in the early 1990s - we'd just married in 1990 and bought our first house for £49, 950!!! As the rates started going up we fixed at 11% in 1992 for 7 years!!!. These turned out to be the longest 7 years of our bloody lives and we saw the rates come down to about 7%. I was naive at the time
and thought the excess we were paying was just reducing our mortgage so not to worry. When my DH's pensions advisor corrected me, I was understandably not impressed :mad: DMP starts June 2012, £38,180.
Balance June 2015 £26,046 (paid off 32%)
DMP mutual support thread no 4340
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