Print

Please login or register.
1 Hour 1 Day 1 Week 1 Month Forever
Login with username, password and session length

[Field Marshal Dr. Opti]

0.25% is now 0.50%

I'm sure the banks will pass it on.

[Varche]

I am sure we will notice.

Anyone remember when rates were double figures!

[Field Marshal Dr. Opti]

I am sure we will notice.

Anyone remember when rates were double figures!

When I bought a house in 1990 interest rates were 15%. I actually paid 16.5% for the first year because I opted for a 100% mortgage.

[Mister Rog]

Both my offspring jumped onto the property ladder this year, I'm hoping they allowed some breathing space in their calculations.

Trouble is, we first bought when interest rates were around 16%. Mortgage payments soaked up a vast amount of combined monthly income, so rates of .25% or .5% seem pretty damned cushy. However, property prices have soared so a small percentage of a big number can still be quite a big number. Oh well, it's only money 

[Field Marshal Dr. Opti]

Both my offspring jumped onto the property ladder this year, I'm hoping they allowed some breathing space in their calculations.

Trouble is, we first bought when interest rates were around 16%. Mortgage payments soaked up a vast amount of combined monthly income, so rates of .25% or .5% seem pretty damned cushy. However, property prices have soared so a small percentage of a big number can still be quite a big number. Oh well, it's only money 

We tend to have high property prices and low interest rates, or high interest rates and 'lower' property prices.......just about doable (for some)

High interest rates and high property prices would result in very few houses being sold.

[Field Marshal Dr. Opti]

Both my offspring jumped onto the property ladder this year, I'm hoping they allowed some breathing space in their calculations.

Trouble is, we first bought when interest rates were around 16%. Mortgage payments soaked up a vast amount of combined monthly income, so rates of .25% or .5% seem pretty damned cushy. However, property prices have soared so a small percentage of a big number can still be quite a big number. Oh well, it's only money 

This should mean a SVR of about 1.25%-1.5%. In reality the SVR is close to 5% because the banks are corrupt. I think bankers should be right at the top of TB's cull list. Directly after Jeremy Kyle.

[Viral_Jim]

A friend of mine has two rental flats which are on lifetime trackers at 0.5% over base.

Funnily enough the building society contact him pretty regularly to see if he would like to change his product! 

[Sir Tigger KC]

When they dropped the interest rate last year my mortgage company took 3 months to change my payments.   

Whats the betting that my increased payment will be next month? 

[Kevin Wood]

A friend of mine has two rental flats which are on lifetime trackers at 0.5% over base.

Funnily enough the building society contact him pretty regularly to see if he would like to change his product! 

Yep, same with my house mortgage. "No, thanks, and no, I'm not interested in making any overpayments currently either."

[tunnie]

I'm fixed until Sept 2018, so bugger all impact for me. Only that when I do come to re-fix the rates will probably be higher than now 

[redelitev6]

I am sure we will notice.

Anyone remember when rates were double figures!

When I bought a house in 1990 interest rates were 15%. I actually paid 16.5% for the first year because I opted for a 100% mortgage.

I remember it well on our 27 k mortgage !  , if interest rates ever get that high again I pity todays youngsters 

[TheBoy]

A friend of mine has two rental flats which are on lifetime trackers at 0.5% over base.

Funnily enough the building society contact him pretty regularly to see if he would like to change his product! 

Or other banks constantly "guaranteeing" they can beat your current deal.  None of them have yet.

[TheBoy]

I am sure we will notice.

Anyone remember when rates were double figures!

All too well.  And no chance of a repayment mortgage, as the repayments would have more than I earnt, so "low cost" endowments only. And look how that ended.

WRT to lower prices back then, wages were an awful lot lower.  My first house was 5 times my annual salary, and interest rates well into double figures.  And that was on a rough estate in a rough town.

[ronnyd]

I am sure we will notice.

Anyone remember when rates were double figures!

Yes, and 15% mortgage rates.

[aaronjb]

I'm fixed until Sept 2018, so bugger all impact for me. Only that when I do come to re-fix the rates will probably be higher than now 

Likewise (well, August) but yes, there'll likely have been another raise by then to 0.75% so the best deals will be back around the 2% mark, I'd guess.. it'll make quite a difference to me, especially as I'd like to shave some years off it, next time around.

If they went to 15% again (I remember it well, though it was my parents who had the mortgage. I also remember the value of the house plummeting by 50%) and we return to the early 90s I'll be well and truly bollarded, as will, I suspect, most of the country.

Nobody here, of course, as you're all old and probably mortgage free by now (Tunnie excepted)