Soldato
No change the NW site so far today - renewal rates remain unchanged.
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Mortgage Rate Rises
- Thread starter glenimp617
- Start date
Don
HSBC's have updated
2 year fix 4.19%>4.14% (0.05% decrease)
3 year fix 4.14%>4.10% (0.04% decrease)
5 year fix 3.84%>3.82% (0.02% decrease)
10 year fix 4.79%>4.72% (0.05% decrease)
(Based on 60% LTV, and "Fixed Standard" products)
Finally 5 year fixed fee saver is under 4% (3.95%), so I'll start the ball rolling on that (although no doubt it'll decrease again as soon as I do
)
2 year fix 4.19%>4.14% (0.05% decrease)
3 year fix 4.14%>4.10% (0.04% decrease)
5 year fix 3.84%>3.82% (0.02% decrease)
10 year fix 4.79%>4.72% (0.05% decrease)
(Based on 60% LTV, and "Fixed Standard" products)
Finally 5 year fixed fee saver is under 4% (3.95%), so I'll start the ball rolling on that (although no doubt it'll decrease again as soon as I do
)
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Soldato
Probably not going to win me any friends in this thread but we've just paid our mortgage off fully 38 months early.
It was cheaper to pay the early redemption charge of £300.00 rather than pay the £80.00 per month interest fee's they were charging over the course of the next 38 months.
It was cheaper to pay the early redemption charge of £300.00 rather than pay the £80.00 per month interest fee's they were charging over the course of the next 38 months.
Soldato
- Joined
- 19 Oct 2010
- Posts
- 2,507
Congrats
Please at least tell us you're 50 or something?Probably not going to win me any friends in this thread but we've just paid our mortgage off fully 38 months early.
It was cheaper to pay the early redemption charge of £300.00 rather than pay the £80.00 per month interest fee's they were charging over the course of the next 38 months.
ftfyPlease at least tell us you're 70 or something?
Associate
- Joined
- 19 May 2010
- Posts
- 1,316
Please at least tell us you're 50 or something?
No, he just lives on Endor in a treehouse. Prices crashed after that whole ‘moon’ debacle.
Soldato
how much was left on your mortage?Probably not going to win me any friends in this thread but we've just paid our mortgage off fully 38 months early.
It was cheaper to pay the early redemption charge of £300.00 rather than pay the £80.00 per month interest fee's they were charging over the course of the next 38 months.
I need to decide in about 3 and half years time if I should just liquate everything and pay it all off...
Soon be time for me to remortgage.
Looks like a lot more mortgages have fees now as well, luckily the few I've looked at the fee version is worth having.
I can't quite remember but you can choose to pay the fee straight away can't you rather than add it to to mortgage so it's even better.
Going into the next year or two I'm unsure if a 2 year or 5 year is the better option is there any stuff out there that helps decide.
Looks like a lot more mortgages have fees now as well, luckily the few I've looked at the fee version is worth having.
I can't quite remember but you can choose to pay the fee straight away can't you rather than add it to to mortgage so it's even better.
Going into the next year or two I'm unsure if a 2 year or 5 year is the better option is there any stuff out there that helps decide.
Soldato
Don
Ultimately a gamble between locking in the usually cheaper 5 year rate now, but potentially paying more than you could for years 3,4,5 assuming interest rates continue to drop
All depends how much and how quickly you think rates will fall
Soldato
- Joined
- 7 Dec 2015
- Posts
- 3,041
I'm glad that my mum allowed me to live in her basement throughout this inflation period so that I didn't have to bear the stress of repossession. When I viewed those properties listed for auction, where the original owners had become completely uncontactable and hadn’t even bothered to collect their furniture and belongings, I felt deeply sorry for everything they must have been through.
Works out cheaper by a little even adding it to the loan. So perfect if I can just pay it outright.
I know that, but is there any good places to read up on it, any respected websites that might give an insight.
No one can predict the future, even so-called professionals are placing bets.
It's going to be an interesting day tomorrow in the US, as the FED is about to do it's first rate cut. The question is how big is the cut and how many more cuts for the remaining year(FED dot plot).
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Soldato
We paid just a smidge over 19K with the ERC added in.
The amount of interest that 19K was earning wasn't anywhere near as much as we were being charged each month on the mortgage.
The savings took a dent but our monthly outgoings are substantially less now so we'll eventually save it back.
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