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I Think I'd Be Quite Happy To Throw In The Towel

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... if I could get a twenty five year fixed rate mortgage at 3 percent. Anyone dishing those out :lol: ?

Would anyone else be tempted, if such a loan existed?

I would still wait if you possibly can since substantial falls in prices may take many years to recover. Future HPI may be very slow if there are proper mortgage controls as I believe are gradually on the way. You don't want to be in neg equity or losing all your deposit I assume. It can also make it very difficult to move if you need to.

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... if I could get a twenty five year fixed rate mortgage at 3 percent. Anyone dishing those out :lol: ?

Nationwide is offering 2.5% on the BMR. Rather than pay the mortgage off I left a few £ on it, and can draw down £100k's for 2.5% when I need it.

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... if I could get a twenty five year fixed rate mortgage at 3 percent. Anyone dishing those out :lol: ?

Would anyone else be tempted, if such a loan existed?

FR 3% for 20 would be very tempting--and add to that the fact that houses are down about 10-20% from peak (depending where you live).

The best you can get would be more like 3% fixed for 2 years.

I was wobbling a bit a couple of weeks ago after the constant flow of bullish news starting to wear me down. Then came last week--the biggest bear week for ages.

Then I regained my senses after actually going out to look at properties and how they were all open to quite sizeable discounted offers.

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Guest Steve Cook

... if I could get a twenty five year fixed rate mortgage at 3 percent. Anyone dishing those out :lol: ?

Would anyone else be tempted, if such a loan existed?

nope. Not yet.

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There is a place a couple of doors down from me, which should be the same size as I am renting, that has just had a full refurbish, and they want 360K for it. I'm paying 1300 in rent. At four percent, that would be 1200 in interest. At 3 it'd be 900.

So I have to fork out when the place needs repointing. Big deal.

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There is a place a couple of doors down from me, which should be the same size as I am renting, that has just had a full refurbish, and they want 360K for it. I'm paying 1300 in rent. At four percent, that would be 1200 in interest. At 3 it'd be 900.

So I have to fork out when the place needs repointing. Big deal.

And the capital? :rolleyes:

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... if I could get a twenty five year fixed rate mortgage at 3 percent. Anyone dishing those out :lol: ?

Would anyone else be tempted, if such a loan existed?

Try buying in France. 20 year Eurobor + fix are available. I was quoted 3.8% last September.

An expected fall of 20% in prices would wipe out the advantage of buying now rather than waiting.

Edited by Peter Hun

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... if I could get a twenty five year fixed rate mortgage at 3 percent. Anyone dishing those out laugh.gif ?

Would anyone else be tempted, if such a loan existed?

Jest ye not. I pointed a mate to a 25 year fixed @ 4.79% (or 4.99%, I can't remember which) back in 2005, which he took out. You won't find nothing like that at the moment. In fact you'll be hard pushed to find anything fixed over 10 years now!

Now that's telling something is it not?

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Im on 2.49 lifetime tracker at 1.99% over base....bit of a gamble, but going to have the mortgage down by 1/3 in 2 years so what-ho! :lol:

When Northern Rock went under, I speculated that the banks would try and make back their losses, so pre-booked, paid the £500 fee and took out a what is now 0.99%, base rate+0.49% lifetime tracker offset mortgage. I've maxxed it out and stuck most of it into a 2.8% instant access savings account with the same provider. :P

So each month the interest from the savings account (even after tax @40%) actually pays for the entire mortgage interest!

(I guess the whole thing sounds like it could almost then be a GCSE maths question to ask to work out LTV and outstanding amount etc from that info!)

Only downside is they won't let me transfer this mortgage to another property if I were to sell up and move, but then I can sort of understand why!

Anyway back to the original - even if I were allowed to transfer my myself to an upsized property, I wouldn't do so right now, since I'm convinced the housing market can only go down from here in the short-medium term. Buying now you mean you're overpaying and even if you could afford to, wouldn't it be better to get either more for the same money, or the same for less money and have some spare money either to save for a rainy day/splash on a car/holiday/p*ss up the wall??

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  • 145 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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