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Mortgage rates gone up.
Comments
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Glad to say Im still on a long fix so not affected.
But everything else will go up as well, me thinks.I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.
Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
"A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
***Fall down seven times,stand up eight*** ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger.
One debt remaining. Home improvement loan. 20 months left.0 -
no thankfully i fixed mine recently got a rate until 20110
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Yeah mines is going up.
But I am re mortgaging getting a new fixed rate deal mine ran out 2months ago.Isn't the knowledge that comes from experience more valuable than the knowledge that doesn't?0 -
clarab wrote: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%.
I'm in the same position. My flat is worth more now than when I bought it (redecorated, garage added, freehold being purchased). I put down a 10% deposit, so any more than a 10% drop and I'm into negative equity.
However, I don't think a 0.25% rise is enough to cause house price meltdown.Happy chappy0 -
Currently getting a re-mortgage because Abbey is charging me 7.27% of mine which this months payments is £423!
Hope I get sorted soon.
This will push more and more people out of the mortgage club no doubt!
k.If you want to see a rainbow, you have to get used to the rain.0 -
tomstickland wrote:I'm in the same position. My flat is worth more now than when I bought it (redecorated, garage added, freehold being purchased). I put down a 10% deposit, so any more than a 10% drop and I'm into negative equity.
However, I don't think a 0.25% rise is enough to cause house price meltdown.
0.25 this month but its going to go up again - dont be suprised at another 0.25 next month.No Longer works for MBNA as of August 2010 - redundancy money will be nice though.
Proud to be a Friend of Niddy.
no idea what my nerdnumber is - i am now officially nerd 229, no idea on my debt free date0 -
According to the news the rise works out at 16 quid a month on hundred thousand mortgage so 1.60 per thousand per month.0
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it wont affect me... but i feel for all of you it will effect as it will be knock on effect to your debt repayments
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