Shall we have our own 12 month house price survey then?

Heyman_2

Cleaver wrote: »

heyman: +11%

Could still happen

I just wanted to be top of the list really

sabretoothtigger

fc123 wrote: »

STT...I said to LIR you seemed pretty clued in and also come over as quite intuitive about things......so......would you fix or track base rate for a new mortgage right now?

Fix rates for sure.
Ive no idea of the future but in terms of probability the odds are rates will have to rise and for other reasons it seems likely any how to me.

Houses are about feeling secure, knowing your cost of living there is going to improve that security so I'd rather have a fix most times.
Im not that old but even I can remember ten percent interest rates, its certainly a possibility to me



Theres a number of arguments for and against and then a variety of various deals and teaser rates and all sorts but generally try to fix for five years.
Martin should do an article on it really, could be the biggest money saver tip he could offer - more then fixing energy costs.
Its nothing definite but imo the odds are on strong rises to mirror the fall in rates.

Also today we hear the rule of Brown and his unique ideas on running an economy successfully, are coming to an end so its a very relevant question you ask

Davesnave

HAMISH_MCTAVISH wrote: »

Hardly a surprise though given the board is infested with doomers.;)

(Sitting here this morning, looking at the lovely view across to Dartmoor, listening to the birds and feeling full of doom!)

Just thought you'd like to know.

Spirit_2

Oh well. House price inflation forecasts - something else to add to the list of things that I am not very good at.

Anyway it is not the winning, it is taking part that matters.

Cleaver

sabretoothtigger wrote: »

Take inflation into account and housing gained about zero

Yeah, but normal people (i.e. people less intelligent that you) don't know / care about that kinda stuff. House goes up, house goes down. That's all we care about.

chucky

Cleaver wrote: »

Yeah, but normal people (i.e. people less intelligent that you) don't know / care about that kinda stuff. House goes up, house goes down. That's all we care about.

wrong!!!!!! i care about you Cleaver - don't you ever forget that!!

Cleaver

chucky wrote: »

wrong!!!!!! i care about you Cleaver - don't you ever forget that!!

On the sauce already chuckster?

chucky

Cleaver wrote: »

On the sauce already chuckster?

i don't drink.

i've always thought that it's never a bad time to express how you feel.
it makes you feel real.

harryhound

sabretoothtigger wrote: »

I'm not that old but even I can remember ten percent interest rates, its certainly a possibility to me

Also today we hear the rule of Brown and his unique ideas on running an economy successfully, are coming to an end so its a very relevant question you ask

The Greek government was heading up into that zone, in its attempts to roll over its debts & re-mortgage the country (having realised it had inherited a large mortgage based on false figures on the self certification application.)
There was some sort of offer of an interim loan from the relatives up north to cover the interest payments, but the bankers were not keen.
It seems the northern relatives have had to put their names on the re-mortgage application forms on some sort of jointly and severally liable deal to stave off foreclosure.
[This seems to have done the trick in the short term; though cynics say any drop in interest rates is due to the vultures/wide boys hoping to do well at the garage sale, being wrong footed and having to cover their positions.]

There has been a bit of a fuss up in Hannover, with the kids up there realising that their inheritance had been partly pledged to help out the island hopping, ouzo drinking, retired fishing, branch of the family - seems the unemployable fisher kids had paddled ashore
and fire bombed the local (bankrupt?) office of the mortgage broker.

At the moment Hannover branch is having nothing to do with great auntie whatsername from East Germany, who has signed the re-mortgage application forms.

Anybody got a handle on the rate being offered now on the re-mortgage and the lengths of the loans being offered against the future price of Feta cheese?

silvercar

fc123 wrote: »

STT...I said to LIR you seemed pretty clued in and also come over as quite intuitive about things......so......would you fix or track base rate for a new mortgage right now?

You can get clever mortgages where you track now but can fix at any time. If you are going to fix, think about when your fix ends. General advice is fixing for 2 years is not ideal because there may not be many good deals around in two years time. Fixing for 5 years looks better.

Saying that we are tracking; but one of the reasons we are still tracking is we are on an amazing rate (base + 0.75) and we have savings, so can cope if rates suddenly shoot high. I still think that interest rates will remain below 2-2.5% for a long time yet.