Mortgage Rate Rises
- Thread starter glenimp617
- Start date
Just locked in early at 4.15% as an existing customer remortgage with HSBC for 5 year fix. 70% LTV.
I have 6 months to find something better. Not sure whether I should be looking for 2 year ones or five. It feels like things may stay like this through to summer but then gradually come down so maybe a 2 year would be better.
Something I noticed is that the online application with HSBC automatically valued our property much higher than it should be. Would they have any come back on the offer before it kicked in live in June if they recalculated the property value and it changed my LTV bandings? It was so high that we would almost be able to pay off a chunk and get to under 60% LTV, but it would be very tight.
I have 6 months to find something better. Not sure whether I should be looking for 2 year ones or five. It feels like things may stay like this through to summer but then gradually come down so maybe a 2 year would be better.
Something I noticed is that the online application with HSBC automatically valued our property much higher than it should be. Would they have any come back on the offer before it kicked in live in June if they recalculated the property value and it changed my LTV bandings? It was so high that we would almost be able to pay off a chunk and get to under 60% LTV, but it would be very tight.
well ours runs out in june 30th, I've pinged our mortgage advisor see what he says, he usually contacts 3-4months before.
I'm with nationwide who don't offer product switch until 4 months before the expiry of current so it's a bit frustrating as timing wise it works against me.
I don't mind switching to a different provider earlier tho, hence the contact with the mortgage advisor.
I'm with nationwide who don't offer product switch until 4 months before the expiry of current so it's a bit frustrating as timing wise it works against me.
I don't mind switching to a different provider earlier tho, hence the contact with the mortgage advisor.
This would be pretty good for us!
Currently on a fix at 1.65% which runs out in April 2027. Whilst I know I will never likely get this rate again to think base rates will reduce to this is good news.
I wasn't sure if this was a Jan 25 post or an old one from Jan 24.
2025. You can still get those rates today with 60% LTV over 5 years.
Obviously do your maths but remember there is another product fee to add-on if you do this as well.
You can still lock in a lower rate 6 months before?
Mortgage is likely to stay around 4.5-5% typically for the next 12month or even longer.
Reeves is cocking it rightly and truly.
There is no way BoE will lower base rate if inflationary pressure is continually applied by govt taxes.
And gilt rate won’t come down until govt shows some aptitude in managing public finances and taxing.
Reeves is cocking it rightly and truly.
There is no way BoE will lower base rate if inflationary pressure is continually applied by govt taxes.
And gilt rate won’t come down until govt shows some aptitude in managing public finances and taxing.
Last edited:
EPR from 1st April will hit everyone in the pocket, on pretty much everything. No producer or retailer can (or will) absorb these costs, so the consumer will pay.
Thoughts on this?
Is a global property crash coming in 2027? 'House price prophet' still thinks so
Interesting about the cycles. Inflation has already eroded prices.
Is a global property crash coming in 2027? 'House price prophet' still thinks so
Interesting about the cycles. Inflation has already eroded prices.
Soldato
- Joined
- 30 Nov 2011
- Posts
- 11,388
Yes it'll slide on to a variable rate without them contacting you - they make more money this way, there's no benefit to them in offering you new deals. Much like auto-renewing car insurance.
If you have a mortgage adviser then they will sometimes be a bit more on the ball as they get a fee when you re-up, but your actual mortgage provider no.
Soldato
- Joined
- 22 Apr 2009
- Posts
- 3,746
- Location
- North-West
We fixed for 5y in December at 4.26 from 1.65. Next week is prob the last week we could swap it but can’t see it dropping much lower. We are nearly hitting 50% ltv
I would be happy with a bit of stability for everything.
I would be happy with a bit of stability for everything.
The sharks been saying the same thing for the last 10yrs.
A broken clock is right twice a day.
You take what you take from these false prophets.
The problem with UK is that Reeves decide to load £70bil of borrowing on “investment” and have cart blanch to white hall spending. Every single person with a sound mind knows you deleverage when borrowing rate is high.
Market is moving against UK cos we got a bunch of single cell organism in charge of our public finance and govt policy.
The next GE couldn’t come sooner tbh.
Market is moving against UK cos we got a bunch of single cell organism in charge of our public finance and govt policy.
The next GE couldn’t come sooner tbh.
Last edited:
There are people claiming in speakers corner that we are about to go into austerity 3.0. Cart blanch spending and austerity are mutually exclusive.
Given the spending review isn’t even going to complete to the spring, I can’t see how either claim can be true because no one’s knows until the spending review is complete.
P.S. this isn’t the thread for politics. Move it to speakers corner.
Nobody can predict the future....
Not true. My fixed rate mortgage runs out in a few weeks. I've had 2 or 3 letters from Santander, as well as notifications in the app that my deal is ending. It's been very clear what my options are and what will happen if I do nothing.
I'm not saying all lenders will do this, but to say they all keep quiet and hope you don't realise is not true.
I chose to stay on the SVR when my deal ends. I'm going from 1.49% to 7%
, but fortunately I can overpay a big chunk so our monthly payments will be going down a decent chunk.