Soldato
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I think so but you can adjust the setting online.
Mortgage Rate Rises
- Thread starter glenimp617
- Start date
I think so but you can adjust the setting online.
I bet there's people celebrating this fall, but not realising they won't be able to cash in on it, as they aren't cash buyers.
Same as mine too, i have 9 months fixed remaining at 1.98% and just been quoted 4.09% on 5 year fixed its about £600 a month to me
Yes, this was super confusing when we were setting up ours. But we went with 1. I must confess we had not thought/known about your last point, but not paying for a while doesn't really seem like an option
Isn't option 3 a bit rubbish because you lose out on interest savings? IE has your money actually been put against your debt when they calculate interest daily?
Very hard to downsize. You probably will have to move out your area, and away from neighbors that support you.
A larger property has space for mobility aids and accessibility gear. Also space for family to stay over and carer's. You could even rent a room to supplement a pension.
A suitable smaller place is probably just as expensive after you buy and modernize it.
Ultimately they don't want the hassle and also they aren't interested in new things anymore. They just want to be comfortable in their own habits. In fact their interests shrink.
A larger property has space for mobility aids and accessibility gear. Also space for family to stay over and carer's. You could even rent a room to supplement a pension.
A suitable smaller place is probably just as expensive after you buy and modernize it.
Ultimately they don't want the hassle and also they aren't interested in new things anymore. They just want to be comfortable in their own habits. In fact their interests shrink.
Caporegime
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Which is my point lol.
You cant expect 13% interest rates on 500k houses... and you cant expect 2% interest rates on less than 300k houses. All reletive
Caporegime
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When do you reckon they will come down? 4 years time?
I don't think it's that common. There's no need.
They let you borrow at very low rates (near zero), with little or no deposit and over 30 years. My sister in law has a new detached house, commutable to Tokyo and only 250K.
Making any point term decisions is impossible. Even more term.
Anything over a year away is completely unknown.
I'm 18 months and counting, I think any hope I had of a recovery in some form before my time is due has gone out of the window since Friday. Cheers Kwasi.
Monthly payments go down automatically.
If you want to reduce the term you have to specify.
Caporegime
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If you look historically once rates stabilise they stick around that level for a decade or so.
Depends what the next crisis is
Weren't they low because of huge stimulus QE in 2008?
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same in Switzerland.
typical mortgage is you pay back 1% per year, zero overpayment for the most part and you would never ever want to pay more than the minimum possible anyway due to tax.
I will die with a massive mortgage for my children to inherit, if i don't sell before hand which is more likely once i retire.
But so what. The children receive the equity and can choose what to do with the mortgage. But splitting property is complex anyway so easiest just to sell up and provide children with the cash.
A fixed asset like a house is not that useful. They would be liable for loads of tax they might not afford, a house where they might not want to live , handling utility bills, paying for maintenance. The house would be too big and expensive until they had a family.
Caporegime
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Why is that? Please tell us why you want interest rates to go up?!?!?
To get more interest on his savings account. Why?