MSE News: 'Don't take mortgage SVR hikes lying down'

Thrugelmir

shortchanged wrote: »

Looking for the glut of no win no fee companies who will get your money back from this SVR hike.

Would take High Court action at vast expense.

gadgetmind

Standingtall wrote: »

Additionally, whilst I remember a rate, very briefly, of either 14 or even 16% in the 1980s

Yup, nearly every evening there was a letter waiting for me at home from the mortgage company. Boy, was I glad that we only borrowed half of what they approved us for!

I've never been big on gearing and it's helped me sleep soundly.

ILW

It is difficult to be that sympathetic to those wetting themselves at having to pay 4%.

_Andy_

ILW wrote: »

It is difficult to be that sympathetic to those wetting themselves at having to pay 4%.

Or those that don't get that a 'variable' rate varies. Or those that didn't choose a tracker but wanted one. Winds me up.

Derivative

4% on a mortgage is still lower than the interest available on cash savings account at the moment.

Honestly, I don't see the fuss. 2% rates were/are bloody amazing.

It's like moaning because this year's birthday present is smaller than last. It's something you weren't entitled to anyway...

Standingtall

gadgetmind wrote: »

Yup, nearly every evening there was a letter waiting for me at home from the mortgage company. Boy, was I glad that we only borrowed half of what they approved us for!

I've never been big on gearing and it's helped me sleep soundly.

I had a £12k endowment mortgage at the time, over 25 years- I think it want up to £180 a month at its highest, inc some insurance or other. Can you imagine 16% on today's average mortgage :eek:

Morgage_Confused

i agree...what also annoys is the fact that BOI svr people are complaining that their svr is going to rise from 2.99. that was a fantastic rate...even at 3.99 its still great.

im chuffed the rates are soo low and im overpaying. and watching my LTV.
Im tracking and when things look bad im gonna fix. If the svr people are worried why dont they just fix.

asandwhen

Not everyone has had historic low interest rates - I fixed mid 2007 for 5 years @ 6.89% (Although was happy with it at the time and have afforded the repayments)
So unfortunately have not managed to overpay. I am now going onto another 5 year fix at 4.19% so overpayments here we come!

Joe_Bloggs

Here is a link to past Bank of England base rates. The Seventies to early Nineties were not that normal. The UK was an economic disaster area. Time will tell if anything has changed.
J_B,

Thrugelmir

Joe_Bloggs wrote: »

Here is a link to past Bank of England base rates. The Seventies to early Nineties were not that normal. The UK was an economic disaster area. Time will tell if anything has changed.
J_B,

How would you describe the early 00's then?

Certainly not normal now that the truth is being revealed.