We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

Debate House Prices


In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non MoneySaving matters are no longer permitted. This includes wider debates about general house prices, the economy and politics. As a result, we have taken the decision to keep this board permanently closed, but it remains viewable for users who may find some useful information in it. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Interest rates

2

Comments

  • Snakey
    Snakey Posts: 1,174 Forumite
    For me the effective price cap was the salary multiplier, not servicing the mortgage (which is cheaper than the rent I was paying, and will remain so even at 5-6%).
  • michaels
    michaels Posts: 29,261 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Thrugelmir wrote: »
    Simply not enough margin at 1%. New regulatory fees cost lenders around a .25% alone. My 2% comment is before the days of cross selling. Lenders no longer have PPI income with which to subsidise lending rates. Now everything is getting stripped back. Products have to stand alone.

    The only kite marking proposed was for RMBS and that was before the GFC. As we know now the quality of both NR's and HBOS's mortgage books weren't the best.

    You are right it was a cat standard that was 1% over base that most of the industry felt was possible more than a decade ago...
    I think....
  • wymondham
    wymondham Posts: 6,356 Forumite
    Part of the Furniture 1,000 Posts Photogenic Mortgage-free Glee!
    I've been away for the weekend so thanks for the update on interest rates! I know I missed two days, so they could have been predicting anywhere between 2% and 25% by now!
  • onlyroz
    onlyroz Posts: 17,661 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Still feeling smug about my base + 0.49% tracker that I took out in 2007.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    onlyroz wrote: »
    Still feeling smug about my base + 0.49% tracker that I took out in 2007.

    Mine is base plus 0.35%. So my SIPP over the past 5 years has begun to look extremely healthy. :)
  • katejo
    katejo Posts: 4,320 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    edited 30 June 2014 at 2:45PM
    Thrugelmir wrote: »
    Mine is base plus 0.35%. So my SIPP over the past 5 years has begun to look extremely healthy. :)

    Mine is currently base plus 0.27%. Has been so at least since 2009, possibly earlier. Has allowed me to have a new kitchen put in and do significant overpayments on the mortgage.
  • mayonnaise
    mayonnaise Posts: 3,690 Forumite
    onlyroz wrote: »
    Still feeling smug about my base + 0.49% tracker
    Thrugelmir wrote: »
    Mine is base plus 0.35%.
    katejo wrote: »
    Mine is currently base plus 0.27%.

    Mine is base minus 17.3%



    ok that was a porkie :)
    Don't blame me, I voted Remain.
  • gadgetmind
    gadgetmind Posts: 11,130 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    katejo wrote: »
    do significant overpayments on the mortgage.

    Those who've used this period of low interest rates to reduce their gearing will be in good shape down the line.

    Those who have instead used low rates to over-borrow and/or pay far too much for a property are going to have a few worse time of things.

    Oh, but I was forgetting, the prices of houses in London *always* go up, so everything will be OK. :D
    I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.

    Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.
  • chucknorris
    chucknorris Posts: 10,795 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    katejo wrote: »
    Mine is currently base plus 0.27%.


    I can't compete with that, but I am still very happy with my 0.38% (1) and 0.68% (4) over base tracker mortgages. When the base rate first was cut to 0.5% I had hoped to get a 3 year run out of it, so it is great to now be into the 6th year and still counting.
    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 stop
  • hillcats
    hillcats Posts: 899 Forumite
    Part of the Furniture 500 Posts Photogenic
    I'm not far behind you all... Base + 0.62% for life
    ORIGINAL MORTGAGE AMOUNT £106,454.00 (Started Sept 2007)
    NOV 2021 O/S AMOUNT £1,694.41 OUR DEBT REDUCED BY £104,759.59 by std regular, over-payments & off-setting.
    BofE +0.19% Tracker Repayment Offset Mortgage Discounted Sept 07-10 then increased to BofE +0.62% until 2027
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 352.3K Banking & Borrowing
  • 253.6K Reduce Debt & Boost Income
  • 454.3K Spending & Discounts
  • 245.3K Work, Benefits & Business
  • 601.1K Mortgages, Homes & Bills
  • 177.5K Life & Family
  • 259.2K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture