Raising Rates to 1% what will it do?

lvader

I'll have to find another £20 a month for my Mortgage.:eek:

Euphoria1z

im on a SVR of 4.84 for a 145k mortgage. every 1% increases mines by £120 pcm. im with TMB and there not offering any new business. Id have to remortgage else where, but i had a pre-sale valuation done last month where the value came back @ £150k when i paid £165k for it. so im stuck for a while i guess unless TMB start offering existing customers a fixed rate.

ILW

Euphoria1z wrote: »

im on a SVR of 4.84 for a 145k mortgage. every 1% increases mines by £120 pcm. im with TMB and there not offering any new business. Id have to remortgage else where, but i had a pre-sale valuation done last month where the value came back @ £150k when i paid £165k for it. so im stuck for a while i guess unless TMB start offering existing customers a fixed rate.

I am sure when you bought that you budgeted for rates up to around 8%, so should not be a problem.

HAMISH_MCTAVISH

Lower GDP

Raising rates to 1%.....

Virtually no impact on inflation or directly on mortgage defaults.

A significant impact on GDP and jobs though, which may then lead to more mortgage defaults given enough time.