With nationwide my mortgage deal was agreed in Oct to start in Dec. Runs for the full 5 years to end of Nov.
Mortgage Rate Rises
- Thread starter glenimp617
- Start date
400 a month extra is no joke. That would give me the right hump.
In news that will suprise no-one, mortgage approvals dropped to a 2 year low in Nov
I think we'll certainly see house prices fall in '23 just depends how much.
Mortgage approvals sink to lowest level in two years
New figures from the Bank of England show that they dropped to their lowest level since the middle of the pandemic.
www.bbc.co.uk
I think we'll certainly see house prices fall in '23 just depends how much.
I should hear about mine this month. its looking to be a £300 increase, absolute insane. .
In news that will suprise no-one, mortgage approvals dropped to a 2 year low in Nov
Mortgage approvals sink to lowest level in two years
New figures from the Bank of England show that they dropped to their lowest level since the middle of the pandemic.www.bbc.co.uk
I think we'll certainly see house prices fall in '23 just depends how much.
Absolutely. 10+pc for sure.
Hoping not more than 15. But certainly possible.
I remember that feeling. Waiting on deal to finish. Knowing if failed could cost thousands!
Its crazy mistakes like that can potentially cost 1000s!
You can start your application with a different lender and you can get an offer from that that wont kick in your ERC charges. This was a mistake i made when i remortgages last year, i missed out on 1.89% 10 year fix because i didn't realise this tip in the process. When i did arrange my remortgage it was at 2.39% and i still paid £1,850 ERC.
I also didn't know this tip. Similar scenario.
Paid erc with 8 months to go. But could have fixed at sub 1.2 with over 14 months to go. New deal would have been valid into the 1 year erc window.
Why don't they teach you this in school?
Very much agree with this statement. I could have saved myself ££££ over the next few years had i known this. At least im still in a position now where im fixed for a long time in a very unstable period.
Agreed I'm not complaining. I'm on 1.9 for 5. Rather than 1.3 for 5.
Might have even been this forum that I saw this was a thing
But if I hadn't seen it I'd be on 4pc+ as old renewal was Feb 2023
1.9 to 4-5pc? That's 300 a month for me. Every month. That's a lot of cash
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I would have been similar i was on 1.89% that was due to run until May23, instead im fixed at 2.39% until 2032.
Its shocking really. Just bad luck could cost 3k every year? That's 2 nice holidays. Gone. Just like that.
Saved a few friends a lot of cash by telling them too.
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Caporegime
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- Dormanstown.
In news that will suprise no-one, mortgage approvals dropped to a 2 year low in Nov
Mortgage approvals sink to lowest level in two years
New figures from the Bank of England show that they dropped to their lowest level since the middle of the pandemic.www.bbc.co.uk
I think we'll certainly see house prices fall in '23 just depends how much.
The thing that I don't understand is that our politicians don't seem to understand why this is happening and then making noise about getting my generation buying houses.
I have to stick with our current provider, circumstances mean no other lender is likely to touch us. Yay covid!
Soldato
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- South Wales
House prices are just too high. Uk was just about scraping by with low interest rates but it only took a few percent higher mortgages to really push things over the edge. Obviously the prices of everything else going up has just compounded the situation.
We are in a privileged situation. 50%ish LTV both of us have increased salaries past few years but it's still annoyingly to suddenly lose extra few hundered a month to this.
We are in a privileged situation. 50%ish LTV both of us have increased salaries past few years but it's still annoyingly to suddenly lose extra few hundered a month to this.
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dlockers
D
dlockers
Interest rates will knacker those wanting to move (i.e. those leaving a property that someone else would buy). Supply will dry up. Prices will be maintained. Overall reporting will be skewed by those who bought 'fad' properties during/exiting lockdown (seeing lots of seaside towns having micro-crashes).
Depends on LTV and fixing length duntit?
true that, but its more representative that saying that payments have gone up by x amount. One less variable at least.
Sub 15% LTV I'll be sticking with Nationwide if i do renew in April and I'm getting 4.99% interest fixing for either 2 or 3 years. 4.79% on a variable rate. Bit of a jump from the 1.49 I'm currently on anyway.
EDIT
Payments reduced by about £60 as I've been overpaying these past two years.
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