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Libor Tracker Mortgage
munkiemunkie81
Posts: 6,326 Forumite
Can anyone help explain to me in laymans terms what this is and how it works? I'm not sure I was fully focused when FA was going through it all with us!
Had mortgage for about 3 years, was a fixed discount for two and then tracks Libor ever since I think. I know this has been a good thing of late because our mortgage payments have dropped by about £300-400 a month.
Is there likely to be any serious/sharp hikes coming - have seperated from husband and the house needs to go - would it be wise to get it done asap to avoid any upcoming hikes?
Have only just had a new - reduced again - payment notice for the next 3 months so I know i can manage through that but i'm not in a position to be able to afford any big hikes looming.
We dont have any trouble with negative equity so thats not a factor, just ideally dont want to sell right this minute!
Had mortgage for about 3 years, was a fixed discount for two and then tracks Libor ever since I think. I know this has been a good thing of late because our mortgage payments have dropped by about £300-400 a month.
Is there likely to be any serious/sharp hikes coming - have seperated from husband and the house needs to go - would it be wise to get it done asap to avoid any upcoming hikes?
Have only just had a new - reduced again - payment notice for the next 3 months so I know i can manage through that but i'm not in a position to be able to afford any big hikes looming.
We dont have any trouble with negative equity so thats not a factor, just ideally dont want to sell right this minute!
Hey, Soul Sister
0
Comments
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check out Inspector Monkfish's Libor thread - he might not be any good at fantasy football but he will give you an insight into the libor rate and where it may/may not be heading....Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
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http://forums.moneysavingexpert.com/showthread.html?t=1602429
(its about 5 million pages long but worth a look)Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
check out Inspector Monkfish's Libor thread - he might not be any good at fantasy football but he will give you an insight into the libor rate and where it may/may not be heading....
its a marathon not a sprint, and i have you firmly in my sites.....Please take the time to have a look around my Daughter's website www.daisypalmertrust.co.uk
(MSE Andrea says ok!)0 -
munkiemunkie81 wrote: »Can anyone help explain to me in laymans terms what this is and how it works? I'm not sure I was fully focused when FA was going through it all with us!
Had mortgage for about 3 years, was a fixed discount for two and then tracks Libor ever since I think. I know this has been a good thing of late because our mortgage payments have dropped by about £300-400 a month.
Is there likely to be any serious/sharp hikes coming - have seperated from husband and the house needs to go - would it be wise to get it done asap to avoid any upcoming hikes?
Have only just had a new - reduced again - payment notice for the next 3 months so I know i can manage through that but i'm not in a position to be able to afford any big hikes looming.
We dont have any trouble with negative equity so thats not a factor, just ideally dont want to sell right this minute!
No big hikes looming.
Fact.
Rest easy.Please take the time to have a look around my Daughter's website www.daisypalmertrust.co.uk
(MSE Andrea says ok!)0 -
Thank you!Hey, Soul Sister0
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