are all norges gone up this much

aka666

hi all, been paying 550 on a 17 mortgage, now natwest wont 654 :eek: on a 5 year fixes, has all mortgages gone up this much

_Andy_

Yes rates have gone up significantly recently.

mpsavuk

Welcome to the new paradigm. It really is different this time.

aka666

so why when interest is going down , that banks dont pass it on to the working ppl that keep this this flea bit country going

Woby_Tide

the BoE interest rate isn't the rate that banks lend to each other, it's that interest rate that decides mortgages in thsi current climate

_Andy_

aka666 wrote: »

so why when interest is going down , that banks dont pass it on to the working ppl that keep this this flea bit country going

Google 'swap rates'

And if you don't like the country so much, why not do something constructive and emigrate?

LisbonLaura

Mortgage rates are restoring to a sensible level.

Mortgagees are being properly screened (I hope!).

Unfortunately it may be too late to save miracle (uncompetitive) Britain

sarkin

The problem with this flea pit country is that it has just comming to the end of a 10 year economic boom. Unfortunatley some people did not plan for the rainy days.

dunstonh

To be fair, interest rates are not high. They are still historically low and not far off the modern average. So, your increase is what should have been expected. Problem is too many forgot that interest rates go up and down and got used to very very very low rates and thought that was the norm.

Inflation isnt actually historically high at the moment either. Stable inflation is another thing that people have got used to.

EdInvestor

dunstonh wrote: »

To be fair, interest rates are not high. Inflation isnt actually historically high at the moment either. .

Quite so.Makes me laugh when I see all the the media beatup stories. What's 4 per cent inflation and 6 % mortgage rates compared with the 1970s, 25% inflation and 15% interest rates? No comparison at all.

One notes that most Brits quite sensibly think that it's not nearly as bad as it's cracked up to be and went out for a record spend last month.

Turnbull2000

EdInvestor wrote: »

Quite so.Makes me laugh when I see all the the media beatup stories. What's 4 per cent inflation and 6 % mortgage rates compared with the 1970s, 25% inflation and 15% interest rates? No comparison at all.

One notes that most Brits quite sensibly think that it's not nearly as bad as it's cracked up to be and went out for a record spend last month.

If I had a mortgage, 70's style inflation would be quite a blessing! My repayments would shrink in half in just a few years.