My Interest rate gamble pays off again!

Graham_Devon

MFW_ASAP wrote: »

What a lovely sentiment (and gif), Thanks Graham!

I'm glad you like a good gif.

All giving, me!

MFW_ASAP

Graham_Devon wrote: »

I'm glad you like a good gif.

All giving, me!

Animated gifs are the best!

They're the gifs that keep on giving.

vivatifosi

MFW_ASAP wrote: »

With the FEDs decision to slowly taper QE and clear signal that they will keep interest rates low for years, this gamble is turning out to be a sure thing. It just goes to show that "He who dares, wins".

I'm glad it's working out for you MFW. Good news. We are happy too for a totally different reason. Will come out of a 5 year fixed 2015 like Wotsthat but will only have 3 years of payments left with a pretty low balance so by then the cost of a fix relative to loan value could be prohibitive, so will probably track to completion. Quite looking forward to being a MFW.

sabretoothtigger

wotsthat wrote: »

I still think 5 year fixes are at bargain basement prices.

It's been good old recession - hardly want it to end.

I think I'd want 10yr, for people nearer then that I guess overpayment and using the lower rate is the better option.
This is intentionally so as gov is still in effect bailing banks out by encouraging this trend and/or similar

If its ending I dont imagine it will be especially gone long in the grand scheme of adjustments; but the low rates are more likely timed like a haleys comet type event

Aberdeenangarse

chucky wrote: »

There's a few here which you have run away from from.

Looks like you've run away to the naughty step! Was it a Yellow or Red card?

MFW_ASAP

So many years of 0.5% interest rates, and many more to come. Why oh why did the 'bears' not listen to me. No wonder most have left or become so bitter and twisted they create sockpuppet trolls.

They are so scared of their own shadows that they miss out on a whole host of opportunities that life throws their way. They are ruled by fear.

dryhat

I'm glad I don't have to bother about mortgage interest rates anymore.

wotsthat

I could've been mortgage free - something that 20 years ago I thought would be like a millstone being lifted from my neck. When the choice came I couldn't see the big deal and bought a holiday home instead.

When I pay it off it'll be with tax free money - paying a mortgage with cash that has been taxed is so 1970's.

purch

Dunno about that, but from where I'm sitting paying a Mortgage at all is so 20th century !!!

MFW_ASAP

purch wrote: »

Dunno about that, but from where I'm sitting paying a Mortgage at all is so 20th century !!!

You should speak to a guy on the pensions thread. His advice is to go interest only max out his pensions instead, then use the 25% lump sum to pay off the mortgage when you retire.

The basis is that as a higher rate taxpayer, the government chips in 40% to your mortgage repayment. Bit too adventurous for me, I'm just happy to borrow and these historically low rates and pay off a chunk before they go back up (if they ever do).