adrian29uk
New member
- Sep 10, 2003
- 3,389
Juts heard interest are going up again.
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Interest rates on the rise
- Thread starter adrian29uk
- Start date
Hatterlovesbrighton
something clever
not until may 10th they wont
Uncle Spielberg
Well-known member
thread above 
Uncle Spielberg
Well-known member
could be by 0.5% I fear
NS Herald
Well-known member
Big Jim said:
Good for me. House prices may go down, slo I may actually be able to afford to buy a new house.
Also more interest for my money in the bank.
How selfish is that!! So how am I supposed to become a multi millionaire if my property doesn't go up in value at least 10% a year.
So inconsiderate some people
Tricky Dicky
New member
Big Jim said:
Good for me. House prices may go down, slo I may actually be able to afford to buy a new house.
Also more interest for my money in the bank.
.. and all the people who have over-extended themselves to get on the housing ladder will be in trouble. Negative equity time again !
tedebear
Legal Alien
couldn't give two flying pig poo's really....
Just something more for everyone to moan about, but they've caused it themselves!!
Just something more for everyone to moan about, but they've caused it themselves!!
Tricky Dicky said:
Agree, hence why I have refused to get a 6 times my wage mortgage, or whatever they give now.
I know too many people who got done for negative equity.
Relationships broke up, sold the house at 1/3rd of the price they paid.
Not good!!
Still, interest rate rise is good for me. So bring it on!
pasty
A different kind of pasty
Dougal said:
Us too
BIRCHYBOY27
New member
My girlfriend did have a fixed but is now on interest only everytime it rise it hits her hard oh well
Marshy
Well-known member
my fixed term ends at the end of May.
Time to get sorted quick i think.
Time to get sorted quick i think.
Dougal said:
They can't keep going up. People just don't earn that sort of money unfortunately. Well I certainly don't!
I heard, but don't know for certain, that the americans have ahd a bit of grief over he past half year, where they were giving out stupid mortgages (6 times wages), then the interest rates went up, and gradually people went insolvant. So the prices now have dropped.
This could happen in the UK, and me being selfish hope something happens to bring house pricing to a reasonable level.
sten_super
Brain Surgeon
Uncle Spielberg said:
I'd be surprised. The inflationary pressures aren't that great... 3% isn't massive looking historically, but the media got all excited because it triggered the letter from the Governor to Gordon Brown.
Also the causes of the rise above 3% were by and large temporary; for example prices in the furniture and fittings sector rose by 10%(!) last month alone, so that they could introduce 'sales' over easter.
But a 0.25% rise next month is a given, and interest rates look set to continue to rise (or at least not fall) for at least 12 months.
Uncle C
Well-known member
Big Jim said:
Glad to see you're not prone to over exageration.
Next time you see a house being sold with 66% discount, please let me know.
The problem with this country is the fixation of owning a home.
Lets get real no-one who has a mortgage really owns the home. When push comes to shove the bank owns it. You will only own it once the mortgage has been paid off.
The typical mortgage is 25 years (or longer), so for the majority of our adult lives we do not own the home.
And why do we feel so smug, when house prices rise and rise. It may make us feel richer, but you will never see that extra wealth unless you sell up move to a smaller home or use one of these equity release schemes.
The biggest problem this country faces, is the housing market. Cos when it crashes its gonna cause real problems
So why do we not rent? My grandfather privately rented his home for 40 years. He was still home proud, still cut the grass, still decorated it and still brought up a family.
Having said all of that I am a slave to mortgage
Lets get real no-one who has a mortgage really owns the home. When push comes to shove the bank owns it. You will only own it once the mortgage has been paid off.
The typical mortgage is 25 years (or longer), so for the majority of our adult lives we do not own the home.
And why do we feel so smug, when house prices rise and rise. It may make us feel richer, but you will never see that extra wealth unless you sell up move to a smaller home or use one of these equity release schemes.
The biggest problem this country faces, is the housing market. Cos when it crashes its gonna cause real problems
So why do we not rent? My grandfather privately rented his home for 40 years. He was still home proud, still cut the grass, still decorated it and still brought up a family.
Having said all of that I am a slave to mortgage
Gazwag
5 millionth post poster
DIFFBROOK said:
Difference being 25 years of mortgage payments are (until recently) not that much difference from 25 years of rent.
At the end of 25 years you have an asset worth (probably) considerable more than it was 25 years earlier.
Secondly, my next door neighbours experience of their landlord is enough to put anybody off renting a property for life, even though I would never consider it.
sten_super
Brain Surgeon
DIFFBROOK said:
Because at the end of that after 40 years, he hadn't got anything for his money.
I rent, but I am keen to get a house and a mortgage as soon as possible (by which I mean when I can afford it and when I have some faith that the market isn't going to crash), because it's an investment. At the moment I pay over £400 a month to rent a shared house. But when I leave I will have not gained anything from that £400. If I had a mortgage that £400 (or however much) would be going towards paying for something which I will then (eventually) own, rather than being (metaphorically) pissed against the wall.