Mortgage Rate Rises

Its OK guys. I'm sure once the coast starts creeping inland the insatiable appetite for corporate profit will abate and we will focus fully on climate change. Its all going to be alright :)
 
One crumb of comfort for @413x is that sea level rise is universal although not uniform. Where ever he lays his hat in the world, it will happen.

My quoted rise around the UK coast is the figure that actuaries use and also insurers and lenders. It will not be so far off.
 
Maccy said:
I'm not sure sea levels has a lot to do with current mortgage rates guys, back on topic!
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Theres not much to talk about. Rates are still going up. Some can pay, some won't be able to. It generally sucks. If you're lucky you have a longer fix that should see you miss the worst of it. If you aren't then you can look forward to a lot of pain.
 
There are so many houses around here (Lincolnshire) which have gone up in price by an absolutely insane amount.

I've lost track of the number of houses, which were sold for say £200-300k 6-7 years ago, and they're now apparently worth £600-800k, it just seems silly.

Many of them are being reduced now, and they're certainly not selling quickly..
 
Screeeech said:
There are so many houses around here (Lincolnshire) which have gone up in price by an absolutely insane amount.

I've lost track of the number of houses, which were sold for say £200-300k 6-7 years ago, and they're now apparently worth £600-800k, it just seems silly.

Many of them are being reduced now, and they're certainly not selling quickly..
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I'm starting to see more and more houses dropping by at least 5%. More are coming on the market at lower prices than I think they would have 6 months ago.
 
Screeeech said:
There are so many houses around here (Lincolnshire) which have gone up in price by an absolutely insane amount.

I've lost track of the number of houses, which were sold for say £200-300k 6-7 years ago, and they're now apparently worth £600-800k, it just seems silly.

Many of them are being reduced now, and they're certainly not selling quickly..
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House prices in my area went up 18.6% last year which was 13th highest rise out of hundreds of area's all over the country. It is quite mad really what has happened in the last 5 years.
 
adam cool dude said:
House prices in my area went up 18.6% last year which was 13th highest rise out of hundreds of area's all over the country. It is quite mad really what has happened in the last 5 years.
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Yeah there are some houses around here (Lincoln) which went for £350-400k in 2020-2021, and now they're asking over £500k :cry:

People are just not being realistic at all,
 
Screeeech said:
Yeah there are some houses around here (Lincoln) which went for £350-400k in 2020-2021, and now they're asking over £500k :cry:

People are just not being realistic at all,
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I bought my old place for 450k in 2019 and sold it for 525k in 2022. Don't forget the impact COVID had on how people want to live.
 
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Classic Blue Theme said:
Why? Unless someone is looking to sell their house it's irrelevant. Houses increase and decrease but on the whole always go up.
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I'm looking at houses around here, and the maths just don't add up, I don't understand how a property has apparently gained £100-150k value in 12 months, it doesn't make sense.

Around here they're just not selling.

The only way it makes sense, is that the interest rate has been stupidly low, but now it's no longer stupidly low - people aren't buying them.
 
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Screeeech said:
I'm looking at houses around here, and the maths just don't add up, I don't understand how a property has apparently gained £100-150k value in 12 months, it doesn't make sense.

Around here they're just not selling.

The only way it makes sense, is that the interest rate has been stupidly low, but now it's no longer stupidly low - people aren't buying them.
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But a desirable house is still a desirable house.
 
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