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Not able to get a fixed rate mortgage
Comments
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I have been looking into interest rates and note on Martin's website that they could reach 8%.
The could reach 15%. Just as they did in the 1990s. Martin is guessing of what the top end may be. I think he is being generous as the long term average for mortgage rates is closer to 7%. You should be budgeting on 8% as being closer to what you would normally be paying in normal times.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
The Halifax in house, index linked valuations are very harsh.The OP has been told by Halifax that he can't get a fixed rate - presumably his LTV is over 95% so he won't have any options.
You can pay them to do a proper up to date one if you think its worth it thoughI am a Mortgage adviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Lloyds have a cracking index valuation on my flat. If they think its worth that I'd be happy to sell them it at that value!!!0
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