Mortgage rates going up

wotsthat

Graham_Devon wrote: »

Therefore I would simply like to know what product they should switch to. Should be a simple question, to a simple insult for SVR holders. But the question won't be answered, instead there will be much bluster and put downs as to put it bluntly, she's talking out of her rear again.

Simple answer - I don't think there's realistically a product to change to now. It's too late.

That's partly why Halifax are choosing now to bill customers for past complacency.

The 'debt junkies' who you'd like to see punished with higher rates will be largely unaffected as they'll be on BoE trackers and looking forward to continued low rates for a while.

black_taxi_2

it more about change of direction of mortgage rates than the actual rise

Graham_Devon

wotsthat wrote: »

Simple answer - I don't think there's realistically a product to change to now. It's too late.

Exactly the point I was making to Julie. Good to see you agree.

Graham_Devon

Wonder what this will do to RPI? Anything at all?

What with petrol costs and costs of other products increasing due to oil, doesn't look good for RPI figures.

wotsthat

Graham_Devon wrote: »

Exactly the point I was making to Julie. Good to see you agree.

I knew you were going to do that.

I wonder what the average length of time is that Halifax customer's have spent on SVR's? No doubt there will be plenty wishing they hadn't been so complacent and switched products when they had the chance.

Pimperne1

Carl31 wrote: »

well, its not really 'misfortune', anyone with a financial eye have known house prices have been ridiculous over the past 10 years

and, although his comment is a bit harsh, hes only pointing out a fact

I think you are a bit wide of the mark there. In Q1 2002 the average house price was £95k - that didn't seem ridiculous to me at the time nor did it, I suspect, to many others.

Rochdale_Pioneers

Well thanks very much Halifax. Thats £30 a month I won't be spending in the economy thanks to you penalising me for that 1% glut of cash you've just had in. I would switch mortgage if that was possible, but I've got an LTV of between 92% and 106% depending on which of the two local transactions in the last 6 months you want to look at.

So with respect to the artard going on about lazy borrowers, hardly. Had a superb 5 year fix deal when we bought this place, and insulated us nicely against 40% or so interest rate rises before the crash. Just can't move anywhere now either in terms of the mortgage or the house.

CRASH_BANG_WALLOP

poor mortgage holder dudes having to pay more each month

Pimperne1

Rochdale_Pioneers wrote: »

Well thanks very much Halifax. Thats £30 a month I won't be spending in the economy thanks to you penalising me for that 1% glut of cash you've just had in. I would switch mortgage if that was possible, but I've got an LTV of between 92% and 106% depending on which of the two local transactions in the last 6 months you want to look at.

So with respect to the artard going on about lazy borrowers, hardly. Had a superb 5 year fix deal when we bought this place, and insulated us nicely against 40% or so interest rate rises before the crash. Just can't move anywhere now either in terms of the mortgage or the house.

Are you saying you have had the place for in excess of 5 years and the value of your house over your mortgage is either 8% or -6%?

ILW

Pimperne1 wrote: »

Are you saying you have had the place for in excess of 5 years and the value of your house over your mortgage is either 8% or -6%?

Obviously not been using the windfall of low rates to overpay.