LettingsLady Posted June 29, 2009 Share Posted June 29, 2009 Which comparison website are you using? I'd love to see the details on this 25 year fixed deal. So would I. The longest fixed rate I can find is Manchester Building Society at 5.74% fixed for 30 years. Quote Link to comment Share on other sites More sharing options...
nohpc Posted June 29, 2009 Share Posted June 29, 2009 Hence why BOE rate is absolutely not irrelevant. People may for some reason choose to believe that but I can't really think why.Typically people would switch from one product to another. This year has been far from typical and the MAJORITY are choosing to remain on the SVR as it's quite a lot lower than a new deal. This will continue if rates remain low and people come to the end of their deals. The low rates (for existing borrowers) and for business overdrafts has saved many people from going under. It won't however make house prices go up as the rates for new borrowing increase. First timers are happy renting for now and most homeowners are happy to stay put. I still say only enforcced sales selling. Completely agree. If my mortgage stays low I couldn't care less about the value of my house. High house prices = paper wealth Low mortgage rate = shitt loads of extra money to invest//spend Quote Link to comment Share on other sites More sharing options...
Si1 Posted June 29, 2009 Share Posted June 29, 2009 Completely agree. If my mortgage stays low I couldn't care less about the value of my house. High house prices = paper wealth Low mortgage rate = shitt loads of extra money to invest//spend definitely - on this evidence 2007 was the last good chance to buy a house Quote Link to comment Share on other sites More sharing options...
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