Where are mortgage rates going?

wotsthat

How long is a piece of string?

chucknorris wrote: »

It doesn't have to be forever to make a significant contribution to your wealth, when the base rate was cut to 0.5%, I hoped for about 3 years of cheap money, but we are now coming up to 8 years! That has already provided us with over 300k of additional rental profit, and still counting. I think that I will probably have sold up before the base rate reaches 3%, so for us, it might as well have been forever.

Exactly. Who cares about forever?

Low interest rates have been a factor in enriching me beyond I ever expected when I was paying c9% for a mortgage. If rates increase who cares? The last few years have been great and I can't complain about not having had a good run. Not that I'm expecting much in the way of significant change anytime soon.

Crashy thinks people live their lives in stasis and don't adjust behaviour as circumstance changes. An attitude to be expected from someone who sleeps with their post office savings book taped to their chest.

chucknorris

How long is a piece of string?

wotsthat wrote: »

Crashy thinks people live their lives in stasis and don't adjust behaviour as circumstance changes. An attitude to be expected from someone who sleeps with their post office savings book taped to their chest.

We are going through huge change at the moment, I drop down to working one day a week in January, my wife retires in December, and the selling process has started (2 properties currently on the market). I am working on about another 28 years of life left, but only 25 (or less) of them might be 'good health years', hence the need for change.

Crashy_Time

Linton wrote: »

Which do you think he will sacrifice when things get difficult? Has there ever been a property tycoon who has said: "OK, I have made my money in property so I dont need any more"?

Did you miss it on the news, he is now the President Elect of the USA, not a property tycoon looking out for his portfolio. Do you think he is going to speak out against raising interest rates for example to save the bubble mortgage debtors of the UK? :rotfl:

Crashy_Time

Jack_Johnson_the_acorn wrote: »

The terrace (detatched) is apparently upto £160k..... How's your property (hmo) doing? Still renting I guess? Still time for you yet though...... remember I'm about 20 yrs younger and closer to being mortgage free than you.... so everyone should dream big :rotfl:

A detached terrace? Do you "own" the whole street? Why not post up some more photos from the internet to show us all how well you are doing........:rotfl:

padington

Less than 1% higher - up to 2.85%

Crashy_Time wrote: »

Did you miss it on the news, he is now the President Elect of the USA, not a property tycoon looking out for his portfolio. Do you think he is going to speak out against raising interest rates for example to save the bubble mortgage debtors of the UK? :rotfl:

Why's trump planning to borrow so much money if he's also planning on making borrowing loads more expensive?

padington

Less than 1% higher - up to 2.85%

The silence is deafening

Dandytf

More than 1% higher - 2.85%+

padington wrote: »

The silence is deafening

Thank you Paddington.

Media has been Brexit mad for some time.

USA are certainly on an upward trajectory next year.

Miss T May etc want rates rise sooner rather than later .

2017 -I'll be viewing the rates rise whilst they happen.

This will be the media hype of next year, at least by my guess.

Whilst the nation awaits article 50 trigger and all the legal rangling etc pre full on Brexit- 2017 or 18 or 19 -I can't even offer an opinion of when that's going to be!

padington

Less than 1% higher - up to 2.85%

Dandytf wrote: »

Thank you Paddington.

Media has been Brexit mad for some time.

USA are certainly on an upward trajectory next year.

Miss T May etc want rates rise sooner rather than later .

2017 -I'll be viewing the rates rise whilst they happen.

This will be the media hype of next year, at least by my guess.

Whilst the nation awaits article 50 trigger and all the legal rangling etc pre full on Brexit- 2017 or 18 or 19 -I can't even offer an opinion of when that's going to be!

Mrs May wants less cheap money splashing around the UK at the moment like a hole in the head.

The truth is she knows the brexsh*t plans will push interest rates up a bit because at least on the short to mid term, brexit is a bad idea economically ( short to mid) and she's trying to 'own' the outcome.

The only saving grace being a Massive ironic spike in immigration due to brexit which May not ever happen. Who knows, it could actually turn out to be a huge economic driver if this keeps up. Two new boroughs of London are being added every year now. That's a lot of new hands on deck.

However, it's not helped by the fact that Donald and Theresa are going to go all Ed Milliband and start spending their way out of the economic blues whilst sitting on a large debt which will add pressure on interest rates. However just you watch them stop spending the moment those rates start rising. Who with large debts wants high interest rates after all ?

The thinking is, they won't rise much at all and, it's my guess 'they' are right. How much did interest rates spike when the US and UK lost its triple A rating ?

Imagine how badly the Royal bank of Scotland would fail its stress tests if interest rates rose to 5% with no real rises in economic activity to underpin it.

Jack_Johnson_the_acorn

Same as now - 1.85%

Crashy_Time wrote: »

A detached terrace? Do you "own" the whole street? Why not post up some more photos from the internet to show us all how well you are doing........:rotfl:

If I can remember that you live in a HMO with shared bathroom, You should remember that I live in a detached Victorian house split into a 3 bed Maisonette with potential to be 5 bed (my home) and a 3 bed ground floor flat....

All with views over the Irish sea. No need to get all venemous and green-eyed, I mean, I'm 30 with a beautiful wife and baby. I have 30% (roughly) of my mortgage paid with less than 10yrs remaining, and you're a 50(?)yr old single man living in a rented HMO on the outskirts of some sink estate near Edinburgh...

You're living the dream and I'm an over-leveraged deluded debt junkie.

Come on Crashy, I expect you to remember the basics.

But you've got looooooooads of money in the bank and I've only got £20k I think.