just fixed into a 2 year deal...

james3333

with halifax. 4.39%, this deal will start in june, so i can enjoy a few more months of the lower rate of 3.99% but have the security of knowing i have a fix should they start to go up.
in linght of the budget, with alllthe 'tax cuts' for the normal working classes, i feel that rates may well start to edge up, what does everyone else think about the budget V mortgage rates?

Radionotme

Which tax cuts? There's a rise in the personal allowance, but the one announced yesterday is for April 2013, not this April.
I don't see anything in the budget to make me think rates are on the rise any more than previously.

james3333

Radionotme wrote: »

Which tax cuts?

Sorry, i meant 'tax breaks' for the normal working people. i know they are all smoke and mirrors but many people simply see an extra few quid in their pay packets and they start spending again.

DannyboyMidlands

I don't think that base rate will rise for several years. Certainly not until the economy is growing and that aint gonna happen for a long time.

With regard to the 2 year fixed, I don't really get it. You only have certainty for 2 years before you need to remortgage. Might as well just get a tracker.

opinions4u

Any measures in a budget will take 18 months or more to impact on interest rates.

But the most significant stimulus for economic growth isn't an extra few quid from the personal allowance.

Lower Corporation Tax will be the best hope of economic recovery and job creation. The filter through from that will take even longer.

So if rates do rise in the next 12 months, it's nothing to do with this Budget.

Radionotme

Still, which breaks would these be exactly? Personal allowance didn't change yesterday, and all of the big tax draws got increases (fuel, cigarettes etc.). Even those who get a sausage roll from Greggs for lunch will be hit hard, a 20% rise in price thanks to VAT now being applied (well, from October)

Peelerfart

Who would have ever thought that we'd be saving up for a sausage roll?,times is 'ard guvnor.

But nothing in yesterdays speech will impact mortgage rates in the short term,in fact,didn't he waffle on about how low rates have helped the UK?