My Interest rate gamble pays off again!

setmefree2

MFW_ASAP wrote: »

Still no change in rates.

Rises can't be far away now....

wotsthat

MFW_ASAP wrote: »

Still no change in rates.

I'm just about fixed for the next 4 -5 years and my average mortgage rate is guaranteed to fall every day during that time like it has for the last 4912 days at which point my average was 7.7%.

Nothing like the '90's for developing a perspective on interest rates - it was tough because houses were really expensive then too

I hope interest rates now rise - for the children mind not for reasons of selfish self interest.

System

MikeHunt wrote: »

Poor old RenovationMan. His Interest rate gamble may have paid off, but I hear his misses left him and has taken half the House and his Pension :eek:

That was another user called The_Fox.

nicko33

setmefree2 wrote: »

Rises can't be far away now....

Eventually this will be correct.

MFW_ASAP

nicko33 wrote: »

Eventually this will be correct.

And by then the mortgage will be down to a normal size, similar to a 3 bed semi. A dream house with a standard mortgage. A once in a lifetime opportunity for an ordinary working class bloke. Good on me for having the balls to take the opportunity

MFW_ASAP

wotsthat wrote: »

I'm just about fixed for the next 4 -5 years and my average mortgage rate is guaranteed to fall every day during that time like it has for the last 4912 days at which point my average was 7.7%.

I fixed the main mortgage for 5 years (we have just over 4 years left) and the second mortgage for doing the windows for 3 years. We're concentrating on paying off the window loan quickly before the fix ends. We've maxed out the 10% OP limit this year and have the funds in place for next year. Hopefully by the time we need to remortgage the main mortgage will be down to less than £200k and the window loan will be cleared.


As an aside, the steel windows we have had fited are absolutely top notch. We also had a solid oak back door fitted while we were at it and we're so chuffed with how everything looks. The glass is kiln glass, which mimics the defects that used to be in old glass. When you walk past the house the reflections in the windows ripple. Lovely


We're now getting ready to submit a listed building consent for a large ach window at the front of the house and the front door. It's weird having to get permission to do changes to you own house, but often the LB officer has some good ideas, so it's nice to have a sounding board for the window and door designs.

TickersPlaysPop

What would stop interest rates increasing?

Maybe all the talk about rate rises is to appease the voters.... I.e. The ones who have cash in savings.. And those will be the old generations that are active voters....

If inflation dips will rates stay low?

If the currency gets even stronger.....

DervProf

MFW_ASAP wrote: »

I fixed the main mortgage for 5 years (we have just over 4 years left) and the second mortgage for doing the windows for 3 years. We're concentrating on paying off the window loan quickly before the fix ends. We've maxed out the 10% OP limit this year and have the funds in place for next year. Hopefully by the time we need to remortgage the main mortgage will be down to less than £200k and the window loan will be cleared.


As an aside, the steel windows we have had fited are absolutely top notch. We also had a solid oak back door fitted while we were at it and we're so chuffed with how everything looks. The glass is kiln glass, which mimics the defects that used to be in old glass. When you walk past the house the reflections in the windows ripple. Lovely


We're now getting ready to submit a listed building consent for a large ach window at the front of the house and the front door. It's weird having to get permission to do changes to you own house, but often the LB officer has some good ideas, so it's nice to have a sounding board for the window and door designs.

RenovationMan used to boast about such things. He wasn't a pleasant character. He often blew his own trumpet, and was always going on about his "wealth". I thought was very poor.

Aberdeenangarse

Yes, he defined being a complete knob!

MFW_ASAP

DervProf wrote: »

RenovationMan used to boast about such things. He wasn't a pleasant character. He often blew his own trumpet, and was always going on about his "wealth". I thought was very poor.

Perhaps you shouldn't visit 'blog threads' if the content upsets you so much? If you don't want to read about house renovations, purchases, mortgage overpayments and other success stories, I would recommend reading one of the hundreds of other threads available in this forum? Perhaps choose any thread created by Graham_Devon, as I suspect these will probably be more to your taste. They certainly won't have you frothing jealously at the mouth because someone dares to mention on their own blog how well they're doing on a particular financial challenge.


Just a thought.