Soldato
I think that sounds more like hope than certainty.
Last edited:
Mortgage Rate Rises
- Thread starter glenimp617
- Start date
Soldato
They also price in forward looking forecasts.
Soldato
I have moved to Zopa at min for saving
Check out Zopa, 1.85% base but has a boost so if you only set for 31 days it is giving 2.05% which is reasonable and if you don't need instant access but something more like 3 months (95 days) then you can get 2.25%
You've cherry picked what I've said to suit your own agenda.
No one is making Londoners take out 90% mortgages, and no one is making them do it whilst living hand to mouth to attain it. Covid has proven than the majority of jobs can be done remotely, and if they're in a job that won't allow it, find one that does. There are lots of choices for everyone, cementing yourself into one of the most expensive places in the country to live is your doing, no one else's. That's my whole point which is what people seem to be missing.
If you got one in January then I hope you fixed for a long time. Also, I don't think there were any sub 1% mortgages available unless on some legacy tracker.
UK has been riding the low interest gravy train for quite some time. Covid should have been a big warning flag to people and we've been heading into a recession ever since. The clowns in charge of the Tories
Soldato
The mortgage lender I work for, one of the girls in sales reckons are rates will start with a 7 tomorrow.
We are not big high street lender though.
We are not big high street lender though.
Woahhh why 7
Soldato
Because it's not profitable to lend at less, and so many competitors pulling their rates we don't want to end up on the top of sourcing systems and end up with, what's known in the industry as a "sunami" of applications we then can't handle.
Last edited:
Some hope still left - see post above
Last edited:
Soldato
Our cheapest fixed rate as of today is 5.44% which is being pulled today, and on that rate we've had £85 million decision in principles submitted.
As in, £85m just today......
As in, £85m just today......
Last edited:
Soldato
Pulled even for those who have the decision in princple?
Caporegime
Cambridge BS, 2.1%.
Soldato
Haha one of the growing list I've worked for in the past.
Soldato
Well said
Yeah I guess the turmoil has left lenders having to price in these potentially sky rocketing rates. Just shows lack of confidence lenders have.
If average rates do hit 6 in coming days that's a 4pc rise in under 6 months.
It really is unbelievable. 7pc rates being talked about.
That's basically saying "we don't want new customers.. But if you're willing to pay through the nose.. We will take you".
As expected, truss and Kwasi won't back down. I wonder whats going to snap first?
If average rates do hit 6 in coming days that's a 4pc rise in under 6 months.
It really is unbelievable. 7pc rates being talked about.
That's basically saying "we don't want new customers.. But if you're willing to pay through the nose.. We will take you".
As expected, truss and Kwasi won't back down. I wonder whats going to snap first?
Last edited:
Soldato
I think it's more saying "we don't want anything right now, until dust settles" so they're probably pricing high in the hopes that'll be enough to put people off and or cover the future raise in base rate.
Hopefully people can see that us and Gibbo live in two completely different worldsI think most people are hoping to put a few grand in at most, not 250k or 2M plus.
Feeling extraordinarily smug - our mortgage rate ends this month but started to get the new rate sorted a few months back as we were borrowing more money.
Managed to get a 5 year fix for 2.59% on one half of our mortgage... which is in stark contrast to the .99% 5 year fix I got for the other half this time last year!!
Managed to get a 5 year fix for 2.59% on one half of our mortgage... which is in stark contrast to the .99% 5 year fix I got for the other half this time last year!!
Soldato
The trouble at the minute is a lot of the big players have pulled all their decent products from the market leaving loads of smaller banks and BS top of the comparison lists and they don't want and can't handle the volume of application likely to be thrown at them as people panic, the easiest way for them to reduce application numbers is to up the rates so they fall down the comparison charts I bet they are all still offering better rates to existing customers. We need calm back in the market and the big players to re-enter with offers a lot of which will depend on wat the BofE do and they are clearly very reluctant to call an emergency meeting and push up the rate before the next monthly meeting.