Mortgage rates gone up.

Pobby

Well the recent buy to let muppets will really get a caning over this surprise rise in IRs.Mr.Blair and co.,imho,have been blatently lying regarding the real cost of inflation.Stealth taxes,massive house price inflation,utility bills going through the roof with no real increases in wages.

Total !!!! up if you ask me.Our manufacturing is at an all time low.Balance of payments is well out of kilter.We borrow from the far east to buy more of their gee gaws.Can anyone explain the logic that in 8 years my home has risen in value by 350%.Total and complete madness.

Broken_hearted

No my mortgage won't go up but the secured loan will (again). 17 payments and counting.

dinkylou

Yes, my mortgage will go up by another £10 or so, not thrilled but could see it was coming.

Don't think its going to be the last of them unfortunately.

Makes me feel slightly better that I am and have been tackling my debt for the last year or so. At least that way when I'm done, the only debt will be the mortgage and so it wont be such as disaster when the rates creep higher.

Got to keep fighting away at them.

halloweenqueen_2

Not pleased to see another rise, won't affect the people who get big bonuses, hopefully won't see them rising month after month like a few years back.

sportbeth

Almightily hacked off - with the 3 rises since august - that's pretty much sucked up any financial benefit I had got from packing up smoking! (We have a big mortgage in the South east!)

KatrinaC_2

It won't affect me, but then I'm renting and make no secret of the fact that I'd rather like interest rates to climb a bit so that it pushes down the rate of house price increase so that I can afford to buy some time before retirement (sorry!)

Kat

steve_taylor_

hmmm interesting.

We are just selling our house ( complete in a couple of weeks ) but the house we are buying has been stalling. Perhaps 6 months of rent maybe worthwhile I don't envisage any major issues unless it goes over 8%, but who knows !

If the market does correct itself there could be a lot of unhappy punters who have paid 3% stamp duty to find that there new house is no longer worth 250K !

clarab_3

I'm on a fixed rate so wont affect me short term.

Am giving serious consideration into selling up before the bubble bursts though, and moving into rented accom. Although it will break my heart to leave my flat Ive put so much into, I could easily find myself in negative equity if prices drop by more than 10%.

Gemmzie

Yup went up £60 on the last raise so properly will again - not good considering our current state of affairs

lil_me

I am so pleased when things like this happen that we still rent, my friends has gone up £378 since she moved in a year ago, she's now considering moving because of it, was her dream home when she bought it, and they could afford it then but it's just getting crazy.