Grown up question...
- Thread starter Robder
- Start date
Have you got a good financial adviser - if not get one, tbh you're not a first time buyer so you should find it quite easy to renew mortgage at decent rate - it is first time buyers who are most likely to get stung with highest rate cos they're deemed more of a risk.
(Blimey that almost sounded intelligent on a broken Monday afternoon
)robert,
all the talk has been for a while of a quarter point drop sometime in the new year, due to the threat/fear of recession. further, the fed (US version of the bank of england) dropped interest rates by 0.5% in one go a couple of months ago.
however, inflation is still going up, which is the reason why interest rates have gone up so much over the last 12 months and the reason why they may not come down in the near future.
all the talk has been for a while of a quarter point drop sometime in the new year, due to the threat/fear of recession. further, the fed (US version of the bank of england) dropped interest rates by 0.5% in one go a couple of months ago.
however, inflation is still going up, which is the reason why interest rates have gone up so much over the last 12 months and the reason why they may not come down in the near future.
puppylover
Active Member
My bank offered me a 2% drop in interest rate if I change to a fixed rate for 2 years with them yesterday - I am on variable at the moment so might do it....
I haven't got the luxury of being able to shop around with lenders.
Nationwide are officially the only high street lender that will offer me anything.
I'm on the 12th floor, ex local authority (ok concrete and 60% privately owned but this doesn't seem to make a difference).
Not sure how to play this - going through a financial advisor seems a bit unnecessary but now you've said that I may give her a call for advice.
To ask another stupid question - we had two rate rises didn't we? What were they and what was the original figure before the rise? 0.25% doesn't mean much at the mo.
Ta! (Christ how boring!)
Nationwide are officially the only high street lender that will offer me anything.
I'm on the 12th floor, ex local authority (ok concrete and 60% privately owned but this doesn't seem to make a difference).
Not sure how to play this - going through a financial advisor seems a bit unnecessary but now you've said that I may give her a call for advice.
To ask another stupid question - we had two rate rises didn't we? What were they and what was the original figure before the rise? 0.25% doesn't mean much at the mo.
Ta! (Christ how boring!)
Oh well if you've only got the choice of Nationwide, Nationwide and Nationwide then yes a Financial Adviser would be a waste of time
I haven't got the luxury of being able to shop around with lenders.
Nationwide are officially the only high street lender that will offer me anything.
I'm on the 12th floor, ex local authority (ok concrete and 60% privately owned but this doesn't seem to make a difference).
Not sure how to play this - going through a financial advisor seems a bit unnecessary but now you've said that I may give her a call for advice.
To ask another stupid question - we had two rate rises didn't we? What were they and what was the original figure before the rise? 0.25% doesn't mean much at the mo.
Ta! (Christ how boring!)
rates have gone up 1% in about 14 months i think.
Will be worth talking to an adviser at Nationwide, who should give you fairly unbiased advice on what you'd be paying, depending on what you decided to do.
I've got a Nationwide mortgage and, having been on a variable rate for a few years, remortgaged onto a two year fixed rate deal a few months ago and saved a bit, although I would have done even better if I hadn't left it six months too long.
The thing is that the credit crunch means fixed rate remortgage deals have got more expensive recently.
I've got a Nationwide mortgage and, having been on a variable rate for a few years, remortgaged onto a two year fixed rate deal a few months ago and saved a bit, although I would have done even better if I hadn't left it six months too long.
The thing is that the credit crunch means fixed rate remortgage deals have got more expensive recently.
puppylover
Active Member
After this post yesterday I rang up our Fin Ad to find out what was what with our mortg. Got a 2% drop and found out that we finish our mortgage in 10 years time - debt free!!!! woo hoo!!!
I didnt know that about our mort. I figured we had around 15 years or something
I didnt know that about our mort. I figured we had around 15 years or something
I would!
That's what everyone that's renting says!
How else could I live on my own in a zone 2 one bedroom flat?
Uncertain times but with a fixed rate it's not like it's a big drama.
I would!
That's what everyone that's renting says!
How else could I live on my own in a zone 2 one bedroom flat?
Uncertain times but with a fixed rate it's not like it's a big drama.
Exactly, even if there's the worse worse worse case scenario of a slump of 10% next year, then most properties in London have gone up 20+% in the last year, you don't have to be a mathematician to know that you're still onto a winner I would!
That's what everyone that's renting says!
How else could I live on my own in a zone 2 one bedroom flat?
Uncertain times but with a fixed rate it's not like it's a big drama.
its all relative. depends what you get for your money. - prices in essex are silly. considering how much you tend not to get now.
blackswan555
Active Member
Is it just me or does " in a zone 2 " sound a bit Mad Max,
Have a good one
Tim
Have a good one
Tim
fatphilb
Well-Known Member
here's a pretty picture for you roberto.........
thats an extra £120 per month in real money
