Mortgage rates going up

oldvicar

Graham_Devon wrote: »

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.

These are just one-off factors. The real risk is deflation. Better print some money quick to keep everything afloat.

Uncle Monkey.

property.advert

Fact is that you can obtain savings rates higher than a couple of years ago and yet fix 5 year mortgages at lower rates than ever before.

Lenders now have loads more data on customer inertia and can use this to test the elasticity of their core customers to changes in the SVR. The flip side is higher fees for specific products which add perhaps 0.5% to smaller loans over the deal term.

danielanthony

I bought two years ago with a 90% LTV, just remortgaged at 75% LTV as house prices around here have gone up 15% (had surveyor round to value for bank so price not just made up).

Got it fixed now for three years at 3.19%, costing £850 per month instead of £1100 per month for the equivalent rental.

Stupid to have bought my house? Stupid to not have in my opinion.

Thrugelmir

HAMISH_MCTAVISH wrote: »

Thankfully, not all major lenders are in a position to rip off the public in this way.

If the need arises. Then there's a clause in every mortgage contract that can be invoked. So never say never. The fat lady may yet sing.

HAMISH_MCTAVISH

Thrugelmir wrote: »

If the need arises. Then there's a clause in every mortgage contract that can be invoked. So never say never. The fat lady may yet sing.

Clearly, you have a reading comprehension problem.

Nationwide and Lloyds TSB/C&G, whose cap is 2% above Bank Rate, had no wiggle room in their contracts and so no opportunity to increase the cap.

Sibley

Anyone cheering the rate rises is a scumbag. Savers won't be getting any more interest. This is just classic wishing bad on people on a better position.

Rates wont be going up anyway. Some of the banks putting 16 quid a month on top. That's their lot.

advice_please_2

Bit of a newbie. I'm coming out of 5 year fixed And thinking of going on to their bmr before fixing again. Will this affect bmr and fixed options?

advice_please_2

Following the Halifax rise – which will take effect from May 1 – a customer with a £100,000 mortgage would see monthly repayments rise from £714.88 to £739.19.

What rate and years have they worked this out?
My £100k at 5.44% is £616

2010

This is really very, very bad news that the Halifax is raising mortgage rates by 0.5%.

It should really be FIVE per cent.

Why should savers subsidise indebted home buyers who have bit off more than they can chew.
They have had a good run for too long because of the BoE rock bottom interest rate policy.

Pay the true rate for your homes and don`t expect the country to buy it for you.

wotsthat

2010 wrote: »

This is really very, very bad news that the Halifax is raising mortgage rates by 0.5%.

It should really be FIVE per cent.

Why should savers subsidise indebted home buyers who have bit off more than they can chew.
They have had a good run for too long because of the BoE rock bottom interest rate policy.

Pay the true rate for your homes and don`t expect the country to buy it for you.

I've just had a mystic meg moment.

I can see someone who is mortgage free and with cash on deposit. It might be yoooou.