Mortgage Rate Rises

Cheetah Designs said:
Does anyone know where one can look at the market futures rates that drive these rates?
I.e. so you can see what the market will think the rates will be in 2025, 26, 27...
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Just look at mortgage swaps as a direct idea of what future rates will be. Gilts are also related but it’s not as clear as swaps are.
 
Just got an updated offer with current lender (Halifax) at 4.83% for 2 years (54% LTV) - Is this about right at the moment or should I be asking the broker to look elsewhere?

Got until July to finalise so no massive rush!
 
TrojanWhore said:
Just got an updated offer with current lender (Halifax) at 4.83% for 2 years (54% LTV) - Is this about right at the moment or should I be asking the broker to look elsewhere?

Got until July to finalise so no massive rush!
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There are better deals 2 year with a 54% LTV. We would need figures to have a Quick Look for you. Check out Money Supermarket.
 
£1,000 arrangement fee out of your pocket now, or add it to your mortgage (5 year fixed) for an extra 0.2% - 4.04% v 3.84%.

15 year term.

It works out less over the 5 years but I know that's not how it works because the extra £1k is on the full life of the mortgage. Is the difference negligible?
 
Dirk Diggler said:
£1,000 arrangement fee out of your pocket now, or add it to your mortgage (5 year fixed) for an extra 0.2% - 4.04% v 3.84%.

15 year term.

It works out less over the 5 years but I know that's not how it works because the extra £1k is on the full life of the mortgage. Is the difference negligible?
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Depends what you would do with the £1000 mainly, otherwise its simple maths
 
I'm burnt out with checking rates and trying to figure things out and predict the future, I've just accepted we are lucky in the sense our mortgage is only going to go up £100 odd quid this year.

Sometimes you just have to make peace with it and look on the bright side that it's still half of what people are paying to rent around here and a few £100 less the even the rent on our first tiny flat is now.
 
Sythe79 said:
I'm burnt out with checking rates and trying to figure things out and predict the future, I've just accepted we are lucky in the sense our mortgage is only going to go up £100 odd quid this year.

Sometimes you just have to make peace with it and look on the bright side that it's still half of what people are paying to rent around here and a few £100 less the even the rent on our first tiny flat is now.
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My girlfriend is the type where she says you can't change it so stop worrying. I'm the sort of person that keeps checking mortgage rates or car prices every day or few days just to confirm I've made a good or bad decision! With her influence I'm probably not as bad as I would be. :D

I do agree though and when you've committed to a decision, there's no point mulling it over constantly. I'd say I'm the person that likes to know the facts but it doesn't influence my emotions or I won't get depressed by spending more than I should etc. Hard to describe but I can see how some people who aren't as well off or secure in their relationship might have mental health issues in the current circumstances.
 
Mercenary Keyboard Warrior said:
Depends what you would do with the £1000 mainly, otherwise its simple maths
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I'm not too great with FIAT as you know. ;)

We do regular overpayments and I could tweak them by £50 / month to pay the extra £1000 off which would probably render it a moot point.

I agree with the previous poster, it gets to the stage where your start overthinking everything - I know one thing for sure, this time last year I was dreading this renewal as I thought we were looking at 8% rates or worse, but the fact that our payments are going to come down a little bit without changing the term means I think I'll just get it done and dusted and get on with my life.
 
Dirk Diggler said:
I'm not too great with FIAT as you know. ;)

We do regular overpayments and I could tweak them by £50 / month to pay the extra £1000 off which would probably render it a moot point.

I agree with the previous poster, it gets to the stage where your start overthinking everything - I know one thing for sure, this time last year I was dreading this renewal as I thought we were looking at 8% rates or worse, but the fact that our payments are going to come down a little bit without changing the term means I think I'll just get it done and dusted and get on with my life.
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Just pay in BTC ;)
 
Nemiyen said:
My girlfriend is the type where she says you can't change it so stop worrying. I'm the sort of person that keeps checking mortgage rates or car prices every day or few days just to confirm I've made a good or bad decision! With her influence I'm probably not as bad as I would be. :D

I do agree though and when you've committed to a decision, there's no point mulling it over constantly. I'd say I'm the person that likes to know the facts but it doesn't influence my emotions or I won't get depressed by spending more than I should etc. Hard to describe but I can see how some people who aren't as well off or secure in their relationship might have mental health issues in the current circumstances.
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My wife is the same. And my brother. And my brother in law. I wish I could be more like that. I used to revel in the knowl she that I'd done my research and got better deals on than most by doing my research etc. Then it strikes you that actually nobody cares but you. So it's a battle against yourself.
 
jaybee said:
My wife is the same. And my brother. And my brother in law. I wish I could be more like that. I used to revel in the knowl she that I'd done my research and got better deals on than most by doing my research etc. Then it strikes you that actually nobody cares but you. So it's a battle against yourself.
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My wife has been F5'ing the Cazoo website ever since we sold our car to them to see what they put it up for :) It's done now.
I was actually surprised by that one as I'm normally more like this than her, she'll literally buy my son a computer game or something off Amazon and I'm there tearing my hair out that she didn't get it £2.50 cheaper from another site.

I did take pride in my mortgage choices years ago (fixing before a rise and then switching to lifetime tracker before it dropped from 5.5 to 0.5) but that is tempered somewhat by the knowledge that people who bought terrible mortgages are still much better off than us because they bought more expensive properties and/or moved up the ladder in the years after, so their equity gains dwarf the savings we made on the mortgage.

Basically you can save perhaps 10s of thousands taking out the right mortgage but you make 100s of thousands buying the right property.
 
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