Interest rates up first time in a decade
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 Lyons550  Shirley 03 Nov 17 3.56pm |
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Originally posted by Stuk
Sadly, I highly doubt it. Be lucky to get to that before 2020 odd. When i said soon enough I actually meant 5yrs or so..but having had time to think about it, it could be even longer..
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| Lyons550 Shirley 03 Nov 17 3.58pm |
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Originally posted by Pussay Patrol
Carney said the rate would be 1% by 2020 Even though it affects me I think it's a good thing especially if it brings property prices down. They say less people are buying property as they cannot afford so eventually, you would think, with shrinking demand and rate rises, a property crash is around the corner. What should also happen is people applying for mortgages should be able to prove they can make the repayments if the rate was 5%, so borrowers finances are properly stress tested Lenders do this far more now...even more so for Landlords where their whole portfolio is stress tested
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| Lyons550 Shirley 03 Nov 17 4.03pm |
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Originally posted by DanH
1.35% so a decent deal. Hoping it doesn't go too mental in the next 5 years when we have to go to variable. Thats a great deal tbh Dan...its the peace of mind you have knowing what the amount will be for the next 60 payments thats the most comforting bit. I'm in a bit of a weird situation at the moment where I own a couple of properties outright and yet i'm struggling to get a mortgage to free up cash to get some more....the sticking point? I dont have a main residence...as I live with my girlfriend! How bizarre is that!?
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Pussay Patrol  03 Nov 17 4.18pm |
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Originally posted by Stuk
I think he's been average at best. They shouldn't have put them down last year, so this isn't really a proper rise yet. The mortgage market isn't really a problem anyway, defaults are at record lows and more people are on fixed terms than ever. The real issue is all the personal debt on credit cards, car loans etc. how does it affect personal debt? standard credit card rates are always generally the same, they don't track Bank lending rates, i've had credit cards for years and the APR is always around 18%. and personal loans are usually always fixed rates over fixed terms
Paua oouaarancì Irà chiyeah Ishé galé ma ba oo ah |
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| Lyons550 Shirley 03 Nov 17 4.27pm |
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Originally posted by Pussay Patrol
how does it affect personal debt? standard credit card rates are always generally the same, they don't track Bank lending rates, i've had credit cards for years and the APR is always around 18%. and personal loans are usually always fixed rates over fixed terms
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| Stuk Top half 03 Nov 17 4.43pm |
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Originally posted by DanH
1.35% so a decent deal. Hoping it doesn't go too mental in the next 5 years when we have to go to variable. My advice would be to make over-payments whenever possible.
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| Stuk Top half 03 Nov 17 4.45pm |
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Originally posted by Pussay Patrol
how does it affect personal debt? standard credit card rates are always generally the same, they don't track Bank lending rates, i've had credit cards for years and the APR is always around 18%. and personal loans are usually always fixed rates over fixed terms It doesn't. The problem is that what is a tiny twitch in interest rates may tip those with huge personal debt over the edge, which they'll blame on the base rate changes rather than the fact they were borrowing at way higher rates (as you say) for cards and cars.
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| dreamwaverider London 03 Nov 17 5.54pm |
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Originally posted by Hrolf The Ganger
Brilliant. This means that cat homes and donkey sanctuaries all over Britain will get more money. And you people who are struggling to pay your already outrageously expensive mortgages. f*** you. Do I detect animosity?
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| dreamwaverider London 03 Nov 17 5.56pm |
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Originally posted by Stuk
Sadly, I highly doubt it. Be lucky to get to that before 2020 odd. No way.
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| Hrolf The Ganger 03 Nov 17 6.03pm |
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Originally posted by dreamwaverider
Do I detect animosity? Yes. The cost of owning a home is far too expensive relative to income.
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| Stuk Top half 03 Nov 17 7.48pm |
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Originally posted by dreamwaverider
No way. Way.
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Jimenez  SELHURSTPARKCHESTER,DA BRONX 03 Nov 17 9.38pm |
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Originally posted by Hrolf The Ganger
Brilliant. This means that cat homes and donkey sanctuaries all over Britain will get more money. And you people who are struggling to pay your already outrageously expensive mortgages. f*** you. What's a Mortgage?
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