HSBC 5 years at 4.44%

kriss_boy

phlash wrote: »

I have heard a certain very well known economist predict that interest rates will be 1% or lower for 5 years.

Id love that to be the case but I just dont think its likely.

I reckon 2% by March/April, 4% by October/November.

Rob71

Since mortgage rates don't appear to be really tracking the BoE rate, but rather some other variable(s) like "swaps", even if there was a couple of % raise in the base rate it might not affect the "cost" of borrowing significantly.

Of course, the banks will jump at the chance to raise rates/get people to pay more/increase profits the second they're given a green light to do so... :rolleyes:

Personally I wouldn't have fixed just yet - I've just taken a (lower rate) fee free discounted jobby for the next two years, and will see how it pans out in the short term.

gowgowuk

I'm certainly not a specialist, but I guess the more you wait and the higher the fixed rates will be. I booked a 4.2% 5 years fixed rate with HSBC 6 month ago, which just started this month. If I wanted to book the same mortgage now, it would be 4.73%...

adamcarvell

i agreed a 4 year fixed fee saver at 4.79% paying over 20 years with the a&l already with them like to know our payments as money's tight and redundancies every six months where i work would find it difficult to swap lender still got ten days cooling off period also begining to wounder if my deal is good now?.

ukclarkkent

i got a similar mortgage back in the summer although it took a few months to begin payments. i'm on 4.54% fixed, bang on the 75% LTV of £100k. i paid a similar amount booking fee. i chose this as a) it was lower than the SVR i was on at the time and b) i did think that rates would slowly rise over the next year or so and so would the rates of mortgages. i shortened the term too as i really hate having a mortgage.

i don't mind owing large amounts of money as i wouldn't have my flat without it but i just hate fluctuations and fixing for 2 years then looking for a better deal and then doing that again in 2-3 yrs time.

i wonder if asda sell time machines so i can go back 6 years and pick a better mortgage from the start...