Mortgage Rate Rises

[grudas]

so our mortgage advisor couldn't get the same deal as we did through our current lender - nationwide

78% LTV 5yr @4.39% and bumped up the term to max(before 65yr retirement) but we're aiming to continue over-paying as much as we can over the next 5 years.

he could only get the same deal at the same term so would've been £300+ extra a month over longer term we got.

wonder if nationwide only offers certain things to customers directly, he even asked his guy at nationwide and there was no way of him getting a switch to longer term and different deal.

anyway, we're ok with this, not great as it goes up by £100 a month but not as bad as it could have been.

 

[DJMK4]

Given the world is going to pot, will the rates be rising again soon ?

 

[fez]

Given the world is going to pot, will the rates be rising again soon ?

Not until I need to remortgage so expect it all to truly go to pot just before June.

 

[DJMK4]

Not until I need to remortgage so expect it all to truly go to pot just before June.

I think i still have 3.5 years or 3 years on my 5 year fix

Im currently on a 3.95% rate

 

[mattyfez]

I think i still have 3.5 years or 3 years on my 5 year fix

Im currently on a 3.95% rate

Meh.. I don't think that's the end of the world as long as it's affordable for you... I can't see interest rates going back to the historic lows of the last few decades... It wouldn't supprise me if you can only get offers of 3.5-4% in 3yrs time.

Remember we have only 'enjoyed' low BoE base rates of 0.5% or whatever in reaction to the global financial crash from US sub-prime, and now it's getting more 'back to normal'.

 

[grudas]

Given the world is going to pot, will the rates be rising again soon ?

no one really knows.. I'm happy to lock in for 5 years and not think about that area for a while.