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Debate House Prices
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When will interest rates rise?
Comments
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No exit charges at all.
We are now outside of the 3 year tie-in and the rate has increased to +0.62 there is not even a MEAF at the end, I made sure I got that tied in when HBOS removed it from all of their brands back in 2007 when we took the mortgage.
We very much doubt we will ever change this mortgage...
I can't see any reason why you should. I say again, cracking deal (I think a friend of mine took the same deal when I recommended it to him).30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
It does look like we have many more months of these low rates.
As long as the world doesn't change it's opinion of us as credit worthy.
with another 12 months of low rates I will be very well on track for being mortgage free in 3 years.
Just in time to support my kids through Uni ...What they don't get off you one way , they will get by another
My gut tells me that within the next 12 months something will have shifted drastically enough to cause a rate rise.
I don't know what but I can't seem to shake the feeling off. So it is fear I suppose that is forcing me on with my overpayments.
It may be just that working in the construction industry has made for a bit more nerves than some other people in alternative jobs.0 -
My gut tells me that within the next 12 months something will have shifted drastically enough to cause a rate rise.
I don't know what but I can't seem to shake the feeling off.
I have the same feeling. There is no logic behind it, apart from "if something seems to good to be true, it probably is".30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
It does look like we have many more months of these low rates.
My gut tells me that within the next 12 months something will have shifted drastically enough to cause a rate rise.
I don't know what but I can't seem to shake the feeling off. So it is fear I suppose that is forcing me on with my overpaymentsI have the same feeling. There is no logic behind it, apart from "if something seems to good to be true, it probably is".
My feelings exactly, why take any chances... :T:beer:ORIGINAL MORTGAGE AMOUNT £106,454.00 (Started Sept 2007)
NOV 2021 O/S AMOUNT £1,694.41 OUR DEBT REDUCED BY £104,759.59 by std regular, over-payments & off-setting.
BofE +0.19% Tracker Repayment Offset Mortgage Discounted Sept 07-10 then increased to BofE +0.62% until 20270 -
Nahh, rates are going nowhere significant for a long time yet. Raising rates would hurt the millions enjoying ultra-low mortgages, landlords and the overall housing market. Prices are holding steady or rising, BTL is taking off again, rents are rising quite strongly and house building levels are very, very low. The stage is being set for a massive price boom in a few years time. The government and BoE will be content for these circumstances to continue.Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
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Turnbull2000 wrote: »Nahh, rates are going nowhere significant for a long time yet. Raising rates would hurt the millions enjoying ultra-low mortgages, landlords and the overall housing market.
Rates will drift up very slowly, but are unlikely to cross 3% within 5 years.Prices are holding steady or rising, BTL is taking off again, rents are rising quite strongly and house building levels are very, very low. The stage is being set for a massive price boom in a few years time.
It certainly is.
Right in time for the next general election, and to last throughout the second term so they can get a third one....;)The government and BoE will be content for these circumstances to continue.
Indeed they will.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
Turnbull2000 wrote: »The stage is being set for a massive price boom in a few years time.
Seriously lets hope not.
When are we going to learn in this country and try to do something to avoid this boom and bust cycle in the housing market that we are so prone to.0 -
Turnbull2000 wrote: »Nahh, rates are going nowhere significant for a long time yet. Raising rates would hurt the millions enjoying ultra-low mortgages, landlords and the overall housing market. Prices are holding steady or rising, BTL is taking off again, rents are rising quite strongly and house building levels are very, very low. The stage is being set for a massive price boom in a few years time. The government and BoE will be content for these circumstances to continue.
Yes, all of that based on historically low rates.
If what you say does happen, there will be a collosal crash, and nothing this time we can do to prevent it.
Do you not think it would be more sensible to fix the problem now? Have you not noticed how the interest rate discussions turn around into "I've done very well, I've been able to do x y and z, I've paid off this much, I've never had it so good".
Is this what we really want? A handful of people treated this way to allow them to make gambles etc, while far more ultimately suffer the consequences? Is this country really just saving the select few? While making their children pay more for their education, more for their housing, more for their pensions? I suppose at least some of us are ok and being saved from paying anything remotely like we expect others to pay. Thats fantastic and should be celebrated. We can enjoy a boom and then enjoy the reward of not paying for it. Make our kids pay. Brilliant idea. Hope we never have to pay a bean.0 -
Some people asked for details.Have you not noticed how the interest rate discussions turn around into "I've done very well, I've been able to do x y and z, I've paid off this much, I've never had it so good".
I am happy to share if anything I've done can be of any assitance to anyone else.
You cannot (as a group) ask for the details, firstly condeming those who don't provide details and then condemn those that do.
We first have implications that people are lying about it and then when we do provide details we are told we are boasting.
You cannot have it both ways.
Back on topic.Do you not think it would be more sensible to fix the problem now?
Yes I agree, we should do everything we can to fix the problem and not exaccerbate it.
How to you suggest we do that?
Raising rates?
Do you think there are any cons to that? Such as devasting any possible recovery?
I personally do not believe the BOE sets it's policy around asset prices.
They are concerned with the health of the overall economy which included business and households.
I personally don't profess to have the economic knowledge to criticise the BOE.0 -
Graham_Devon wrote: »Is this what we really want?
Its what some of us want (not me).
Greed and laziness are two human traits that are hard to resist for all of us.30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0
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