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"Thousands" with BOE trackers face mortgage interest rate rise
Comments
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We've been using this period of low rates to spend more on our places. May as well spend it on improvements - especially those that improve energy efficiency - than end up paying over a lot more tax.
Some day this .5% base rate bonanza is going to end, and we want to be less indebted, new boilered, double-glazed and energy efficient-ed to the max when it does!0 -
chucknorris wrote: »Well it hasn't been constant but probably the average is about 4.5 over that time (currently 4.5 if you count the investment property that my wife and I jointly own). That is only my properties though, not my wifes', but hers were never included in the quoted figures anyway.
And yet you're still having to work for a living?0 -
Great news you're making a healthy profit Chuck. It's succesful people like you that are helping the economy in these tough economic times.
Thanks but I have to confess that I am concentrating on helping myself (read that as family chucky, same thing to me). Although I do consider my job as partly (only partly) as giving something back, I'm a university lecturer, pays less than industry but I get much more satisfaction out of it.Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop0 -
And yet you're still having to work for a living?
No I don't have to work (unless you mean from a work ethic point of view, but not financially). I chose to come out of early retirement to try something that I had always been curious about, but while i worked in industry the pay was comparatively poor and back in those days I was too competitive to take a pay cut. But it was different coming out of retirement.
Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop0 -
chucknorris wrote: »No I don't have to work (unless you mean from a work ethic point of view, but not financially). I chose to come out of early retirement to try something that I had always been curious about, but while i worked in industry the pay was comparatively poor and back in those days I was too competitive to take a pay cut. But it was different coming out of retirement.
Good luck mate.
Off to bed.
Goodnight.0 -
Good luck mate.
Off to bed.
Goodnight.
I'm not going to bed but we are going to watch 'John Carter' just noticed that its on Sky now, see ya.Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop0 -
chucknorris wrote: »I'm not going to bed but we are going to watch 'John Carter' just noticed that its on Sky now, see ya.
Thankyou:cool2:"If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
Thrugelmir wrote: »Residential property in the broadest sense is neither my skill set nor an attractive tax efficient investment.
So I use my time in more productive areas. Unfortunately making money for others. But earning a kickback in the process.
Certainly no chips on my shoulder. I've shredded apart many a business plan. To the same degree many don't produce one so are really flying on a wing and a prayer. With no defined exit route even if they do make it work.
I do hope none of those "shreddings" involved any kind of assessment on how quickly the capital gets paid back on a mortgage as the interest rate varies eh Thrugelmire?
Still, I should think someone who has been advising so long and so diligently would find that a relatively easy exercise. Stick to the handy "Rule of 51" eh?;)0 -
james_toney wrote: »the thing is what if other lenders do the same???
but i thought most BTL mortgages were about 5% all the ones i looked at were
From this link:
http://www.guardian.co.uk/money/2013/mar/02/bank-of-ireland-mortgage-rates-double-triple
Borrowers with other lenders may be nervous about them copying this move, but I would have thought this is unlikely."
We asked one of the biggest providers of tracker mortgages, HSBC. It told us: "We have nothing in our mortgage terms (HSBC or First Direct) that would allow us to change the differential interest rate on our tracker mortgages."
Others following might not be a foregone conclusion.Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop0 -
chucknorris wrote: »From this link:
http://www.guardian.co.uk/money/2013/mar/02/bank-of-ireland-mortgage-rates-double-triple
Borrowers with other lenders may be nervous about them copying this move, but I would have thought this is unlikely."
We asked one of the biggest providers of tracker mortgages, HSBC. It told us: "We have nothing in our mortgage terms (HSBC or First Direct) that would allow us to change the differential interest rate on our tracker mortgages."
Others following might not be a foregone conclusion.
so looks like only BOI can do this, then, great more BTL for me then,Ex HPC fool0
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