Interest Rates go up...

[Fatboy123]

Wonder if the banks will up savings rates as quickly as they cut them!

 

[I cant post photos]

I wonder indeed. Riveting times.

 

[Semple]

any reason for the double thread?

 

[Fatboy123]

God knows.... I only posted it once

 

[Lord-Jaffa]

House of cards housing market primed to fall.

 

[EvilRob]

Glad I got new mortgage rate locked in earlier this week.

 

[MikeTheNative]

It only got raised by 0.15% so can't see it making too much difference to mortgages, I'm sure the extra pennies we will get from saving accounts will be good though.

 

[200sols]

It only got raised by 0.15% so can't see it making too much difference to mortgages, I'm sure the extra pennies we will get from saving accounts will be good though.

With the Bank rate rising to 0.25%, a typical tracker mortgage customer's monthly repayment will go up by £15.45. The typical SVR customer is likely to pay £9.58 more a month, UK Finance figures show.

 

[VincentHanna]

Glad I got new mortgage rate locked in earlier this week.

My mortgage rate is locked at 1.6% until October 1st 2026.

This is as good a thread as any I guess for a question regarding overpaying a mortgage. Mine allows me to pay 10% per year. I've not made an overpayment but could do a lump sum and have 15 days left to do so.

Worth it?

 

[Deleted User 298457]

My mortgage rate is locked at 1.6% until October 1st 2026.

This is as good a thread as any I guess for a question regarding overpaying a mortgage. Mine allows me to pay 10% per year. I've not made an overpayment but could do a lump sum and have 15 days left to do so.

Worth it?

Only if you think you can't beat 1.6% elsewhere (savings, investments).

I'd say you could stick that overpayment money in a Vanguard fund and be safe that it'll outperform 1.6% over 5 years.

 

[I cant post photos]

How very uninteresting.

 

[alexakasloth]

BBC article:

https://www.bbc.co.uk/news/business-59682521

Glad we got our 5 year fix sorted earlier rather than later.

 

[b0rn2sk8]

The rise really isn’t dramatic at all and entirely expected. 0.25% is still practically nothing in the grand scheme of things.

If they shoved it up to 5% then that’s probably worthy of jumping out of your chair about

 

[moon man]

in my case overpaying the mortgage was easier as i couldn't spend it i.e got a small redundancy pay out in 07 ,that went straight into the mortgage and encouraged us to overpay ,just looking at the years knocked off was a great incentive plus we wanted freedom to come to Cornwall ,took 9 years to pay in full ,also i was on a low wage and big savings would have stopped tax credits (runs for cover)