Curious as to possible new rate.

spurs_nut

Advantage charge 2.9% above the Libor rate which is currently at 1.84%. So if interest rates stay the same your (we're) looking at 5%

My fixed rate deal with advantage also ends may next year. They do take a share in the negative equity depending on the percentage you have on the unsecured loan part. That's of course if you can get the funds to remortgage.

JonnyBravo

spurs_nut!!!

Thought you were in Spain living off the proceeds of your BTL empire?
Isn't it a bit dangerous you coming back in here.... most of the old bears arent around so much (or at all) but I'm sure a few will still remember you and hunt you down for re-surfacing in here!!!

baileysbattlebus

Pobby wrote: »

Thereby is the problem. Mortgages from 1975, we always were looking at 8% +. As you said, BBB, we had 12 and up to 15%. I cannot believe how low it is right now.

The worry has got to be if it returns to much above 6%.

This whole darn hpi is nothing more than a complete mess in my eyes and certainly should never, ever been let to happen.

By the way, my wife has an Auntie and Uncle in your town, lol.

Low interest rates, I know, I was just commenting to a friend that our mortgage repayments are about half of what they were 16 years ago when we moved into this house.

I agree with you about the rates, I remember a couple of years ago interest rates went up, I think mortgage rates went up to over 6% and some people were struggling. So I think you're probably right anything over 6% could be a problem, especially with falling house prices and some people's inability to get new fixed rates throughf lack of equity.

The latest Personal Credit Index also reveals that almost eight in ten (77 per cent) of mortgage holders do not know what annual percentage rate, or APR, is, with 44 per cent thinking it is only the interest rate of a loan and a sixth (15 per cent) stating it is the amount of a loan paid back in a year.

As for your wife's auntie & uncle - like us, someone has to live here!!

It's ok, we live near a very nice park and golf course, but there really isn't much here - but it's pleasant enough

Pobby

Doesn`t look like it`s there now but in the 70`s I used to play in a band on a Sunday night at a pub called The Bush there in Broad Street. We lived just off the Wokingham Rd in Early. Nice Victorian bungalow, bought in 1978 for just under £15k. Lol.

econo_2

I know this varies from lender to lender, but surely if someone comes off a fixed deal onto the lender's SVR in most cases they are quite entitled to then take up the latest fixed rate deal on offer? There seems a lot of anxiety by posters who haven't even checked this!