Mortgage Rate Rises

I learnt a new term tonight "Portal juggling" since I've been using property log (a chrome extension which shows you how much properties have been reduced by, how many times and when) I've noticed a weird trend of rapidly increasing the price, then decreasing it.. Say, putting it up for £500k down to £450k, then back up to £500k on the same day.

Apparently, this is to exploit rightmoves listing system, because the property in question has been reduced by 2% or more - it goes right back to the top, when you search sorted by new listing.

It's pretty naughty, must be fraudulant!

 
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Screeeech said:
I learnt a new term tonight "Portal juggling" since I've been using property log (a chrome extension which shows you how much properties have been reduced by, how many times and when) I've noticed a weird trend of rapidly increasing the price, then decreasing it.. Say, putting it up for £500k down to £450k, then back up to £500k on the same day.

Apparently, this is to exploit rightmoves listing system, because the property in question has been reduced by 2% or more - it goes right back to the top, when you search sorted by new listing.

It's pretty naughty, must be fraudulant!

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You can report that to Rightmove and they’ll give the Estate Agent a talking to. It’s surprisingly common.
 
Guys,

Silly question - but if I extend my term to 30 years, but overpay the equivalent to what 25 years is; is there any difference?

My next commitment will be really big (£3k is fine, £4k is annoying) --- so looking to lock-in a minimum slightly lower in case it hits the fan. Rate is the same?
 
dlockers said:
Guys,

Silly question - but if I extend my term to 30 years, but overpay the equivalent to what 25 years is; is there any difference?

My next commitment will be really big (£3k is fine, £4k is annoying) --- so looking to lock-in a minimum slightly lower in case it hits the fan. Rate is the same?
Click to expand...

Without running the numbers I can't be sure, but it should equalise. I'd put it into a spreadsheet to see what the interest differences are each month.
 
Screeeech said:
I learnt a new term tonight "Portal juggling" since I've been using property log (a chrome extension which shows you how much properties have been reduced by, how many times and when) I've noticed a weird trend of rapidly increasing the price, then decreasing it.. Say, putting it up for £500k down to £450k, then back up to £500k on the same day.

Apparently, this is to exploit rightmoves listing system, because the property in question has been reduced by 2% or more - it goes right back to the top, when you search sorted by new listing.

It's pretty naughty, must be fraudulant!

Click to expand...
Mysterae_ said:
The thing that people are talking about, except for those that are causing it.

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Not saying these videos don't have some possibly valid points, but they do verge on the hysteria side of things a bit.

The titles and screenshot annoy me too as it is clear that its made to sound and look as hysterical/dramatic/catastrophic as possible for clicks.
 
Surely fixing for 5 years now is a bad idea? You've really got to go against all the grain to take that option.

Vast majority see 5pc rates for a year ish then falls. If it goes much higher it'll be ruinous anyway. I doubt 6pc could be sustained for long without doing huge damage
 
413x said:
Surely fixing for 5 years now is a bad idea? You've really got to go against all the grain to take that option.

Vast majority see 5pc rates for a year ish then falls. If it goes much higher it'll be ruinous anyway. I doubt 6pc could be sustained for long without doing huge damage
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It depends on what your other options are, 2 and 3 years fixes are/were A LOT higher than 5 and 10 years.

That's the risk, is paying 1-4% more for 2–3 years in the hope that you get a better rate then, better than paying a lower amount for 5.
 
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