10 Year Fixed Rate Mortgage at 3.99%

Pimperne1

ess0two wrote: »

Certainly is,even Devon tried to pick holes in the detail and failed miserably.

To be honest I think that if I came on here saying "Free house, sea views, good schools in the vicinity, low crime area" Graham would come up with "It'll be cold in there in the winter".

HAMISH_MCTAVISH

Pimperne1 wrote: »

"Free house, sea views, good schools in the vicinity, low crime area" ".

[Bear Mode]

Well of course it's only free because nobody can afford it, what with baked beans having risen by 5% in a year, and the cost of electricity going up, and hyperinflationary collapse just around the corner.

Just wait for the "free house price crash" of 2021, why in 10 years you'll have to pay us to take that crumbling pile of bricks off your hands.

[/Bear Mode]

Loughton_Monkey

Pimperne1 wrote: »

To be honest I think that if I came on here saying "Free house, sea views, good schools in the vicinity, low crime area" Graham would come up with "It'll be cold in there in the winter".

That's because your glass is half full. And his is half empty.

Mine is simply not large enough!

LilacPixie

thats quite a deal and one that possibly would of interested me but i have almost a year of my current deal to run. My lenders SVR is 3.5 so a 10 year fix at 3.99 would be ok. Only thing that would put me off are the OP limits of 10%, i aim to be mortgage free before 40.

ukcarper

LilacPixie wrote: »

thats quite a deal and one that possibly would of interested me but i have almost a year of my current deal to run. My lenders SVR is 3.5 so a 10 year fix at 3.99 would be ok. Only thing that would put me off are the OP limits of 10%, i aim to be mortgage free before 40.

I’m not sure that’s such a big thing if you overpay 6% a year you would pay off mortgage in 10 years.

sabretoothtigger

staffie1 wrote: »

Excuse my ignorance, but what does STR stand for..?

Sell to rent. Speculate or in this case look gift horse in mouth and rent instead

JonnyBravo

Graham_Devon wrote: »

All I'm saying is you do not know what is around the corner.

You may not be able to get another mortgage with Chelsea when you move, therefore you will have to pay the charges.

I know I wouldn't get another today with my mortgage provider, due to changes in the mortgage industry.

You are right in what you are saying. It's great for someone who si completely comfortable in their home / life and doesn't forsee any need to move.

All I am doing is highlighting what you didn't, and suggesting, although a good offer, there are, as always, clauses....and in this offer, the clauses are pretty expensive ones.

Of course but then there isn't really one mortgage that is ideal for everyone, is there?
I know you get knocked for being negative Graham but you seem to be ultra negative here desperate to pick "faults" on what is, in essence, a mortgage that is extremely competitive. After all, I doubt any of these uber bulls are going to be actually taking out the mortgage.
I would now ask if everythings ok but feel of course it would be seen as patronising and would no doubt lead to an opportunity for them to mock and, for once, I'm not being sarcastic!

julieq

I think the issue here is that along with most of the bears Graham is pinning his hopes on some sort of step upwards in mortgage rates to force people out of their homes and send prices spiralling down via fire sales. The idea that long term sub 4% rates might turn up is obviously a bit of a kick in the nads on that basis.

I'm actually not a bull in the normally accepted sense of the word, but I'm becoming bullish about housing in the short term. There is a perfect storm brewing of low loan rates, low rates of housing creation, some degree of economic recovery and cuts not being as bad as feared, and high rent, which combined with a long period since the crisis began during which buyers have had a chance to save, seems likely to cause competition and a mini boom.

I think the current wave of market pessimism and associated stock market falls has been overdone too. It's just not as bad as that would suggest out there in the real world.

Anyway we'll see I guess.

Turnbull2000

Well said. Not only are existing borrowers (esp those who bought near peak) and house values being heavily protected, but the seeds are being sown for a rapid rise in both rents and house prices in four or five years time. In fact, the rapid rent rises will likely arrive much sooner.

After a near global depression caused by mortgages and property related activity, it seems ironic that property has emerged as probably the safest investment once again.

doire_2

Turnbull2000 wrote: »

Well said. Not only are existing borrowers (esp those who bought near peak) and house values being heavily protected, but the seeds are being sown for a rapid rise in both rents and house prices in four or five years time. In fact, the rapid rent rises will likely arrive much sooner.

After a near global depression caused by mortgages and property related activity, it seems ironic that property has emerged as probably the safest investment once again.

A rapid rise in house prices in 4 or 5 years time you say?

All fuelled by what? Again turnball2000 you make a statement but give no solid reasons why