help/advice on fixed deal plz.

whiteflag_3

ixwood wrote: »

Er.. rampant Inflation? Or Stagflation the way we're going!

Wont be inflation fuelled by consumer demand. More likely stagflation but will that develop and be recognised and the MPC take action that will make people taking two year discounted rate mortgages NOW significantly worse off over the next two years. If people are concerned with the ecomony now and the impact on their life style, and they are prepared to to pay the higher fees for a fixed rate, they should be going for at least a five year fixed rate.

ps Ixwood whats with patronising Er.. pretty poor

ixwood

Might be inflation caused by global customer demand, rocketing (soft and hard ) commodity prices, ever richer developing and resource rich countries and money supply growth in double figures everywhere.

The last decade was an exceptional period imo, not the new norm as everyone seems to assume.

And I agree, any 2 year deal would be risky imo, unless circumstances mean longer isn;t an option.

That's why I secured a 10 year offset mortgage fixed at 5.15% a month ago.

ixwood

$100 oil hasn't really filtered through yet. It will and we'll think that's cheap in a years time.

The good times are coming to a end imho. For most of the spoiled indulgant west anyway. Wealth is moving. Our Finance industry is imploding and once that's wipes out, our economy has nothing left. We don't own or make anything any more.

Inflation is going to be a key theme for the next decade imo.

All speculation of course, but that's my take.

ixwood

Op, you may be able to get a better deal direct. Especially if you've a clean credit score and good LTV and income ratio.

ixwood

Brokers are great for non standard deals/people, but doesn't seem to be able to get the very best rates for straight forward relatively low risk mortgages.

UK007BullDog

ixwood,

You cannot superimpose your predictions, wants and needs to another person.

The 2 year fix might be exactly what the OP is looking for. Yes it might be higher than a tracker but maybe he needs the security of knowing his outgoings for the next two years.

Mortgage advisers are not equipped with a glass globe to discuss the economics of the UK and the world. I would never discuss that. What if I am wrong and influence a customer and he then chooses the wrong product for himself? I think the customer knows to 80% what they want coming to a broker.

If the broker is a true whole of market adviser than he should have access to all mortgages out there.

whiteflag_3

UK007BullDog wrote: »

ixwood,



Mortgage advisers are not equipped with a glass globe to discuss the economics of the UK and the world. I would never discuss that. What if I am wrong and influence a customer and he then chooses the wrong product for himself? I think the customer knows to 80% what they want coming to a broker.

So should you not be called "mortgage order taker" rather than "adviser"? Dont understand how you are the adviser but the client "chooses the wrong product for himself"? Earlier in the thread theres a quote along the lines of "client asks for 2 year fixed so thats what they get " .Clients come to be advised so thats what they should get Advice!

spinko64

Hi UK007Bulldog

I totally agree with your comments. I am pleased other brokers have an open mind and that when we advise clients we do not detract from what their priorities are.

owitemisermusa

ixwood wrote: »

Might be inflation caused by global customer demand, rocketing (soft and hard ) commodity prices, ever richer developing and resource rich countries and money supply growth in double figures everywhere.

The last decade was an exceptional period imo, not the new norm as everyone seems to assume.

And I agree, any 2 year deal would be risky imo, unless circumstances mean longer isn;t an option.

That's why I secured a 10 year offset mortgage fixed at 5.15% a month ago.

Can you offset with £0 - 5000 savings? What are the limits. This is probably the third thime I'm saying it : I still don't get offsetting! (I'm not thick )

OWM

spinko64

An offset mortgage means you offset your savings against the interest you pay on the mortgage amount.It is a fantastic product if used in the right circumstances.Whether it is right for you depends on the amount of savings compared to the interest rate you are paying.You must bare in mind interest rates are usually higher on this type of mortgage.Therefore your priorities need to be defined to advise whether this is the right product for you.
If you want any help I am here.