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Interest rates go up! Now 4.75%

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Comments

  • manhattan
    manhattan Posts: 1,461 Forumite
    Uniform Washer
    as a saver that is fantastic news!

    i am happy!

    hopefully it will boost my house deposit money for future use ;)
  • realwildone
    realwildone Posts: 144 Forumite
    Thats the BTL brigade with lower yields and higher costs they cannot pass on.

    Maybe now this housing madness will start to stop. Especially when another rise is due later this year.
  • realwildone
    realwildone Posts: 144 Forumite
    Get rid of your debts asap. It's going to get a lot tougher.
  • PoorDave
    PoorDave Posts: 952 Forumite
    500 Posts
    vishpatel wrote:
    YES!!!

    Finally.

    Does it make you happy?

    Still by far and away at a historic low level though.

    Don't forget that many people are on fixed rates, so this will have no effect on their affordability for years yet.

    Also, from some research i did this week using Nationwide house price data, at the last crash it took seven years from initial drop to absolute trough, so you're best off buying sometime in 2013, if this is repeated, and i know there's no certainty!

    Also, if it's a bigger peak, will it take longer to reach the trough?
    Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery
  • chriss1979
    chriss1979 Posts: 115 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    manhattan wrote:
    as a saver that is fantastic news!

    i am happy!

    hopefully it will boost my house deposit money for future use ;)

    Same here :D
  • manhattan
    manhattan Posts: 1,461 Forumite
    Uniform Washer
    PoorDave wrote:
    Does it make you happy?

    Still by far and away at a historic low level though.

    Don't forget that many people are on fixed rates, so this will have no effect on their affordability for years yet.

    Also, from some research i did this week using Nationwide house price data, at the last crash it took seven years from initial drop to absolute trough, so you're best off buying sometime in 2013, if this is repeated, and i know there's no certainty!

    Also, if it's a bigger peak, will it take longer to reach the trough?

    thats ok, i can wait like many others here.
  • jonnydoe
    jonnydoe Posts: 253 Forumite
    Oh well, my mort rate will be put up to 5.25%, still lower than a lot of fixed rate deals...
  • vishpatel
    vishpatel Posts: 184 Forumite
    100 Posts
    PoorDave wrote:
    Does it make you happy?

    Still by far and away at a historic low level though.

    Don't forget that many people are on fixed rates, so this will have no effect on their affordability for years yet.

    Also, from some research i did this week using Nationwide house price data, at the last crash it took seven years from initial drop to absolute trough, so you're best off buying sometime in 2013, if this is repeated, and i know there's no certainty!

    Also, if it's a bigger peak, will it take longer to reach the trough?

    It makes me happy because it needed to be done. It works towards a HEALTHY economy. If that involves falling house prices - so be it.
  • fuzzylogic
    fuzzylogic Posts: 25 Forumite
    Signed our mortgage application yesterday and has been sent off today. Could this mean we will not get the fixed rate we agreed to or will it be ok?

    Its with Nationwide

    Ta
  • PoorDave
    PoorDave Posts: 952 Forumite
    500 Posts
    manhattan wrote:
    thats ok, i can wait like many others here.

    But not everybody will, i don't think. If prices fall 10% people will be buying, i reckon. Wouldn't you if you thought that prices might go up again? Don't forget not everybody is as smart as you
    Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery
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