interest rates have gone up

redballoon_2

!!!!!!! oh well at least i have got my plan in place to be debt free this year!
I am on a variable mortgage so wondering if i should shop around?

pollyanna24

Oh dear, my fixed rate is up in April 2008, am I panicing too soon?

Addiscomber

redballoon wrote:

I am on a variable mortgage so wondering if i should shop around?

In two words, almost certainly.

MABLE

Fantastic news for we savers and as we have a 10 year fix on our mortgage not a problem.

mhay_3

anyone else think this could see the start of the house price market crashing, especially BTLs?

raq

Great, but you think about it not many people can afford to have savings...

macca64

raq wrote:

Great, but you think about it not many people can afford to have savings...

Except the people who can't afford to buy a property!! Then again most people who drive nice cars and take nice holidays can't afford them, but they still have them!!

This rise was needed IMO, but I expected it next month, inflation is 3.9% (RPI that is), and CPI is 2.7%, these are November figures, the Government will want to reduce these.

redballoon_2

Quote:
Originally Posted by redballoon
I am on a variable mortgage so wondering if i should shop around?

"In two words, almost certainly."

How do i know if i am able to move my mortgage? I have only had a mortgage for a year and a half.
it's just under £65,000 on a £189,000 house.

mystic_trev

mhay wrote:

anyone else think this could see the start of the house price market crashing, especially BTLs?

I'm sure It'll stall the Housing market, but will it change sentiment? If this happens the shock could cause a correction - who knows?

As for highly geared BTL's - I would imagine there's going to be a great deal of brown stuff in their pants!

worto03

I'm tied into a fixed rate until August this year with A&L - does that mean there is nothing much I can do until a month or so before that date?

sorry for the basic question - it's my first house so I just kind of did what the financial bloke said - wish I'd had fixed for at least 3 years now but never mind. (I didn't join this forum until after that)

I won't be effected until my fixed rate ends but there have been a few increases since I took out mine.

worto.