Ernst & Young: Rates won't rise until 2014

andyroberts1967

I've got a tracker with the Woolwich, which is a lifetime tracker, although I'm only tied in for 2 years. Given this news, do you think I'll probably be better off just staying on the tracker?

My mortgage is just under £100k and for 15 years, and the tracker rate is Base Rate plus 2.27%. I've only had this deal since March, and was worried that interest rates would start shooting up, but this sounds more hopeful that they won't.

Conrad

Exocet wrote: »

Yes. But.

In normal life, ie. not millionaires, better to have a small amount of debt and to be able to manage it.

Plenty of well off clients that have large mortgages accounting for a minor proportion of thier outgoings.
They like investing, and use uber cheap resi remortgage money to so do.

Being debt averse as a matter of principle is fairly narrow minded.
Some wnat to accumulate assets during the downturn.

Exocet

Conrad wrote: »

Plenty of well off clients that have large mortgages accounting for a minor proportion of thier outgoings.
They like investing, and use uber cheap resi remortgage money to so do.

Being debt averse as a matter of principle is fairly narrow minded.
Some wnat to accumulate assets during the downturn.

I'll rephrase it. From my pov much better to be debt free, than borrowing on one hand to invest on the other. When I look at my equity versus my debt it is the debt that occupies my mind mostly.

I don't buy the borrow to invest argument, although I appreciate it may work for some people. And others will lose the shirts off their backs. I'd rather be relatively poor, secure and debt free than pretending to be richer than I really am.

There's that old statement about a man who earns a pound and spends 19 shillings and sixpence. The last ten, maybe twenty years have seen a lot of people laughing at that fuddy duddy old notion. Maybe it's a new paradigm? Or just a fashion fad.

Sorry G, but I'm talking as someone who is not a client of a financial whatever, just someone who works for a living and tries to save and to pay off debt.

ess0two

Graham_Devon wrote: »

That should be up for £145k at least with a kitchen like that.

Sh ite kitchen but how much would this gem fetch down south,£400k+?

Graham_Devon

ess0two wrote: »

Sh ite kitchen but how much would this gem fetch down south,£400k+?

In my area, probably approx 230-280 dependant on location.