Nationwide November +0.4% MOM +1.6% YOY

Graham_Devon

andybenw wrote: »

And that is still a whole 1 percent above my Base rate Tracker which I have already admitted was not the best you could have got.

£1000 per year for each 100K of your mortgage.

4 years £4000.

Mug!!!

As I said, I'm not a debt junky. It doens't make much difference to smaller mortgages.

Find me a mortgage that deals with shared ownership, that doesn't cost over £500 to switch to, thats better than 3.5%, that doesn't fix you for over 2 years.

I'd be interested.

julieq

Actually if he's on 90% LTV on half a house options may be limited, it's a bit of a peculiar arrangement. But if on 3.5% that would be base plus 3% which is an extraordinarily high rate to be paying.

Personally I'd ring a mortgage broker to see what's around. But I suspect Graham won't because, the people who are suggesting he saves himself some money are people he doesn't like. It's kind of crazy really. Sliced nose time.

julieq

Graham_Devon wrote: »

As I said, I'm not a debt junky. It doens't make much difference to smaller mortgages.

How does not being a debt junky square with paying too much for it? You said you were short at the end of the month.

For every 0.25% you can shave off your mortgage costs, that's about £30 per month per £100K. Say you have £50K borrowed and you're over the odds by 1%, that's £60 in your pocket. You can spend that on your family or use it to reduce your mortgage.

One call to London and County and they can check options for you. Takes 5 minutes. Honestly, it's worth it.

nembot

MrRee wrote: »

This 'bears' (pun intended) out all I have said over the past 6 weeks .... the properties around here are selling off-plan, before they hit the market if secondhand ... there is nothing for sale and a load of buyers begging for property.

Result is a boom in prices ... the bears in the North can moan all they like - this reality is coming to a town in the North very shortly.

The wise man/woman waiting in the North will jump in right now and bag a bargain ... be ahead of the curve for once, I am offering free advice here.

Sorry, but the wise man will sit back and think to themselves, this Mr Ree is full of s h i t!!

julieq

Also, for bears who are also silver nuts, the very best disguise there is is to spell a silver related username *BACKWARDS*. The Sheeple will never figure it out.

andybenw

Graham_Devon wrote: »

As I said, I'm not a debt junky. It doens't make much difference to smaller mortgages.

Find me a mortgage that deals with shared ownership, that doesn't cost over £500 to switch to, thats better than 3.5%, that doesn't fix you for over 2 years.

I'd be interested.

Without knowing your individual circumstances I cannot say for you.

For the majority of shared ownership. This leasehold scam is definite mug territory.

MrRee_2

Back on topic .... house prices will only fall if two things happen:-

1. Money gets expensive ... and I mean the long term average Mortgage rate of 8%

2. Plenty of properties come to the market

Currently, we have very cheap money and absolutely no stock whatsoever - so, prices will rise - and continue to rise.

Anyone with two brain cells to rub together can see that.

geneer

geneer wrote: »

Land reg -3.2YOY.

Try again Jules. Cos this ain't that resilient.

No comment on this from the Juliester.
It seems she would much rather be discussing GDs rates. :rotfl:

Really2

Graham_Devon wrote: »

As I said, I'm not a debt junky. It doens't make much difference to smaller mortgages.

Well you don't seem too keen to wean yourself off quicker than others so that is debatable.

The idea of taking a small financial hit so you can increase repayment and lower your term are not the actions of a junkie.

Muddling through saying "I will give up one day" is a junkie, making the day you are "clean" sooner rather than later would not be the actions of a "junkie" as you like to call it.

How people can muddle through debt and accuse those that pay a slight amount more in a one off payment so they can decrease their debt/total amount repayment of being debt junkies is beyond me.

I am sure most addicts say they can carry on taking it day in day out never increasing or decreasing, that does not make them a junkie?
Reality check, the junkies are the ones in denial. The ones wanting to be free are not the junkies.

Pete111

wotsthat wrote: »

You're a long way off being a proper bear - here are some tips..

1) Always, always claim the moral high ground. It's not for your own personal benefit that you want prices fall - it's because you want children to be able to buy in the future. Aha! yes, mistake numero uno - great advice!

2) You must mention props whenever possible. Ok I will but do you mean like on aircraft or on stage?

3) Start using the word 'meme' (no I don't know what it means) Oooh good one - also 'VI' is important though why the Roman numeral for 6 is so vital god only knows

4) Never do sums that relate to your own personal circumstances. That's always silly - just rely on the bear gurus. You are right, whenever I did those as a silly bull I always won so I can see I should avoid these now.

5) Renting is always cheaper. Again as (4) never work out if it's true. Tell yourself that housing in retirement shouldn't be considered, it's normal for a roof to blow off every 3 years, you can get 5% interest on your imaginary deposit and that tales of low mortgage rates are made up. Agree on all of the above. Annoyingly my roof hasn't blown off in the last 4 years of ownership but I will remove some joists this weekend and hope for the best.

6) Don't forget that if there's a sniff of an interest rate rise there will be thousands of distressed sellers - keep waiting.Obviously. As a bear I know that there are literally hundreds of thousand of homeowners ON A KNIFE EDGE!!!! and that noone has used the last 2+ years of low rates to pay off capital - FACT

Many thanks for these!!!

Thanks for these!