Base rate AFTER coronavirus (tracker mortgage)

ThePants999

Interest rates are increased for one reason alone: in order to put downwards pressure on inflation. I can't see inflation being a concern for a little while.

Marvel1

I have been watching the rates for the last 13 years, based on situation.

As when I took out my mortgage on a 2 year tracker 2007, the BOE was 5.75 and after that started  dropping. Tracker ended and now on the Base Morgage rate (2% above BOE). 

Tbe only way is up, but in last 12 years it has not gone up to the level I first took out.  If I took a new product I would end up on the SVR when whatever product ended - worse off.

So have been lucky, but I did consider riding out last 10 years on a fixed and almost applied early this year, when rate stated to go back up, but now back down again.

I have looked at fixed rates but monthly payments are more what I'm paying now, so going to stick with the BMR and overpay (what I originally paid 12 years ago) each month, while it's practically peanuts at £198.

fewcloudy

Lover_of_Lycra said:

https://forums.moneysavingexpert.com/categories/debate-house-prices-the-economy

That forum is not working or open anymore since March.  Looks like all the threads had last messages on the 27th March.
TBH, unlike this board, it wasn't much use anyway.  Often just angry people, some with rather strange views, prepared to defend them to the death!

*Edited to say that I see there is a message above that board explaining why it is closed.