Interest rates to rise - Mervyn King

sarkin1

chucky wrote: »

2% is low you drunkard

but 2+2 is 4%

best tracker deal at the minute is base plus 2.29%

So I make that 4.29% and with an out look of further rises I would say that is squeaky bum time.

Really2

sarkin1 wrote: »

And what about all the people late to the party who are now on base + 2 or BTL on Base + 3.5%

TMW are offering 2.99% on BTL after 1 year it goes to 4.99%, these people will be looking down the barrel of 6.99%

Their monthly payment is going to rocket

Or they switch to a fixed when rates start to look like they will be going up.

People did it when/before they were falling I am sure they will be able to do it when they are rising also.

chucky

sarkin1 wrote: »

And what about all the people late to the party who are now on base + 2 or BTL on Base + 3.5%

TMW are offering 2.99% on BTL after 1 year it goes to 4.99%, these people will be looking down the barrel of 6.99%

Their monthly payment is going to rocket

they better hope that they can remortgage or even know when the right time to remortgage is...

mortgage brokers will be coining it in

StevieJ

chucky wrote: »

2% is low you drunkard

Why do you keep inferring (well, saying) that Doire likes a drink?

sarkin1

Really2 wrote: »

Or they switch to a fixed when rates start to look like they will be going up.

People did it when/before they were falling I am sure they will be able to do it when they are rising also.

LOL

thats right they are all tied to thier deals so either they pay the reds and dump the deal or wait till its free to leave at which point rates will be even further away. Then what do you do stay on the tracker because it is still cheaper than the fix in current market. The time to fix is yesterday not after merv drops the hammer.

chucky wrote: »

they better hope that they can remortgage or even know when the right time to remortgage is...

mortgage brokers will be coining it in

I hope so should smoke a few out who are sitting on SVR, but I get a feeling we will have the boiling frog problem.

mbga9pgf

sarkin1 wrote: »

And what about all the people late to the party who are now on base + 2 or BTL on Base + 3.5%

TMW are offering 2.99% on BTL after 1 year it goes to 4.99%, these people will be looking down the barrel of 6.99%

Their monthly payment is going to rocket

Yep its idots like this that will protect me with my base +2% lifetime tracker.

They quite simply wont HAVE to raise rates much past 3-4 percent in this decade; there is so much outstanding debt that any increase is going to have a pretty serious effect on demand, thus reigning in inflation.

4% on 227K equates to an extra 500 quid on my mortgage; its still well below 50% of my monthly take home and we also have a second income for the next 2 years, so all in all "Im alright Jack".

Greedy BTLers like the wilsons wont be though

StevieJ

sarkin1 wrote: »

but 2+2 is 4%

best tracker deal at the minute is base plus 2.29%

So I make that 4.29% and with an out look of further rises I would say that is squeaky bum time.

There were times when many would have prayed for mortgage rates at that level

inspector_monkfish

doire wrote: »

Still beats the bulls blabbering that IR would stay low for the next 5 years

2% is low !!

sarkin1

StevieJ wrote: »

There were times when many would have prayed for mortgage rates at that level

Ah but that was a different time as you say

boil froggy boil

sarkin1

inspector_monkfish wrote: »

2% is low !!

Inspector dont forget to add the lenders loading, this will take you back to rates from 2007.