is it a Crashy wind up ?

chucknorris

Crashy_Time wrote: »

Anyone else here into house prices when they were 16?................................thought not..............:rotfl:

Not 16, but I did put an offer in on a flat was I was 18, although I must admit that I withdrew that offer a week later, as I was got a bit wary of taking on too much responsibility, and I didn't end up buying until 10 years later when I was 28. I couldn't have bought any earlier than that because I worked abroad between being 20 and 24, and then I was in a car accident that took 4 years to fully recover from.

chucknorris

Crashy_Time wrote: »

Banks need higher rates sooner rather than later

Yes, rates will of course go up at some point, but how long have the bears (including you) been saying rates can only go one way? When in fact, they actually went the other way after over 7 years of being 0.5%, they were then reduced to 0.25%! How long is it going to take for rates to get back up to only 2.5%? 2.5% is still a fantastically low rate. So we are now coming up to 8 years of rates at 0.5% or lower, and it will probably be a total of about 10 years by the time they get back to only 2.5%. That will have been a whole decade of eye watering low rates probably averaging less than 0.75% during that period.

economic

chucknorris wrote: »

Yes, rates will of course go up at some point, but how long have the bears (including you) been saying rates can only go one way? When in fact, they actually went the other way after over 7 years of being 0.5%, they were then reduced to 0.25%! How long is it going to take for rates to get back up to only 2.5%? 2.5% is still a fantastically low rate. So we are now coming up to 8 years of rates at 0.5% or lower, and it will probably be a total of about 10 years by the time they get back to only 2.5%. That will have been a whole decade of eye watering low rates probably averaging less than 0.75% during that period.

Crashy - how old are you now and how much is ten years compared to your life expectancy? A significant portion correct? Why go through most of your life always scared and even worse completely wrong trying to be right just the one time? Seems sad and pathetic to me.

westernpromise

And let's not forget that on top of the 8 years of low rates we have had, you can lock them in for 10 more. That's 18 years versus a normal mortgage term of 25. Anyone looking at that overall is not going to conclude that the 7 years at a high rate were the normal and the 18 at .5% were the aberration.

ChopperST

Crashy_Time wrote: »

Banks need higher rates sooner rather than later

chucknorris wrote: »

Yes, rates will of course go up at some point, but how long have the bears (including you) been saying rates can only go one way? When in fact, they actually went the other way after over 7 years of being 0.5%, they were then reduced to 0.25%! How long is it going to take for rates to get back up to only 2.5%? 2.5% is still a fantastically low rate. So we are now coming up to 8 years of rates at 0.5% or lower, and it will probably be a total of about 10 years by the time they get back to only 2.5%. That will have been a whole decade of eye watering low rates probably averaging less than 0.75% during that period.

For anyone with a decent deposit worried about IR rises the top 10 year fix is 2.49% (60% LTV). Hardly going to break the bank Crashy! 10% deposit is still sub 4%

http://www.telegraph.co.uk/personal-banking/mortgages/best-fixed-rate-mortgages-two-three-five-and-10-years/