Soldato
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- 21 Jan 2010
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Merthyr Tydfil price up 1.6% ??
DO NOT MOVE TO MERTHYR.
Mortgage Rate Rises
- Thread starter glenimp617
- Start date
DO NOT MOVE TO MERTHYR.
My mortgage is up for renewal in April.
Currently looking at around 5.1% for 5 year fixed.
Do you think this is likely to keep coming down in the next 3 months?
And if anyone in same boat, are you looking at 2 or 5 year fixed?
Currently looking at around 5.1% for 5 year fixed.
Do you think this is likely to keep coming down in the next 3 months?
And if anyone in same boat, are you looking at 2 or 5 year fixed?
We’ve just renewed. We went with a tracker mainly because we will be moving in Q1 next year.
It’s expected that mortgage rates will continue to fall with deals edging towards 4% by the end of the year.
Mid-next year would be my guess. BoE is clueless, raising rates following the FED but the UK market isn't as strong. This is going to send the UK market into recession if rates aren't reduced soon. Not to mention the fact that higher rates didn't help lower this current inflation as most of it was from energy.
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This is so frustrating for our current position. Our 5 year fixed ends at the end of December and trying to lock in now is an absolute minefield. I've managed to get a 5-year fixed approved at 4.89%, but I'm now thinking this is not the right deal and should be opting for a 2-year fix or even a tracker. Stressing me out!
I'm taking my Hardtail to Antur Stiniog next week.
I'm so glad the rates are coming down, not panicking as much about my 2% fix ending now.
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Soldato
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- 13 Aug 2004
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I'm sure there was an article on the BBC a few months back which said that if the inflation rate fell below 5% by the end of the year then interest rates would be cut by .25%.
Soldato
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- 2 Feb 2010
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I wouldn't be fixing for 5 years at the moment. I've said several times that there is way too much chaos at the moment to be making long term decisions. I think the interest rates have peaked now, and whilst they may stay where they are for a little while, they will be starting to creep down again afterwards.
If I were you, I wouldn't go more than a two year fix. Maybe even sit on the svr for a year before committing to anything.
At the end of the day, it's all a big gamble.
Exactly the same boat. I'm currently looking at 2 years @ 5.42% I can get 5 years for around 5% but it doesn't make that big of a difference to payments. I've locked in, but will look again about a month before. I reckon rates will have dropped in ~2 years, personally.
Soldato
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- 25 Mar 2004
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- Fareham
Nationwide used to do trackers that had no ERC, would sit on that over the SVR as rates should be better and no penalty to exit. Not sure if they still do.
Gut feeling says in a couple of years rates might be a little lower, so if anything I'd be looking for a shorter 2 year fix perhaps.
Gut feeling says in a couple of years rates might be a little lower, so if anything I'd be looking for a shorter 2 year fix perhaps.
Lush!
I'd be going on a tracker if had to remortgage now.
Rates could come down nicely over next 2 years if this carries On.
Not to covid levels but surely Downwards now?
It doesn't fit the narrative of GD being top revenue earning, gucci belt wearing, corner sofa sitting hovis munchers.
If someone was to say they had problems, their posting history would be picked apart piece by piece for the one time they made a frivolous purchase and the blame would be laid squarely at their feet.
Soldato
- Joined
- 25 Mar 2004
- Posts
- 16,017
- Location
- Fareham
I think like energy prices, will come down a bit but not to the previous levels. 0.5% will seem like a dream.
Agree with this. If I was being optimistic I'd say 4pc by end of 2025.
Yeah I don't think rates will go down anytime soon.
I don't have a magic crystal ball but I can't see it personally.
We need just time for everything to equalise up a bit, the current interest rates are not that high really, its just the shock of them going up so high in a relatively short space of time.
I hope they don't go up further is all, they need to let things stablise a bit.
I'm not one of those "in my day there interest rates were 35% you kids dont know how easy you have it types" but this sustained period of almost non-existent base rate, was well....unsustainable. We are paying for it now.
I don't have a magic crystal ball but I can't see it personally.
We need just time for everything to equalise up a bit, the current interest rates are not that high really, its just the shock of them going up so high in a relatively short space of time.
I hope they don't go up further is all, they need to let things stablise a bit.
I'm not one of those "in my day there interest rates were 35% you kids dont know how easy you have it types" but this sustained period of almost non-existent base rate, was well....unsustainable. We are paying for it now.