Mortgage Rate Rises

413x said:
Ensuite for us. It's unusable in its current state. But can't justify the cost
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same, we had a leak in ours about a year ago. The tiles have fallen off, the toilet doesn't work and the shower doors broken.

Three quotes, all around the £9k mark.

It's the smallest en-suite you've ever seen. Can't afford that at the minute.
 
Some people borrow the maximum amount they can, others don't. There's no right or wrong.

We worked out how much we could afford per month adding in a rate rise and went with that.
 
Perhaps Mr Bailey wants to walk around his local NHS hospital, or if he's feeling really brave, his local FE college.

It doesn't take a genius to work out where the wealth in the economy is going.....in fact, I think these so called geniuses are part of the problem.
 
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It depends who you listen to. Most of the reading I've done suggests rates will remain high for many years. I guess it depends on your definition of high though, as most people have gotten used to <2%

Probably between 4-5 at best is my guess, and it is only a guess. Put it this way, we did a 5yr fix not too long ago. In fact I think it was pretty much the last week any banks were offering anything under 4%. We got 3.9%. If rates are the same in 5yrs I'll be happy.

When wealth has been sucked out the of the economy like it has, I can't see anything which suggests otherwise.
 
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Richie said:
https://www.bbc.co.uk/news/business-67056069

Looks like the people that went for 5 year deals in mid-late 2022 may get hit with a large increase in mortgage payments :(

I was hoping rates would be coming down by 2027 :(
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ouch!

My mortgage will be down to £65k by then, but without our current car loan. Still, absolutely crazy.

House prices aren't coming down either....at least not where I live.

I want to move house as well :(
 
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