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Mortgage Rates Have Risen

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Example:

Nationwide 2yr fixed rate with 15% deposit - was 4.39% last week, now 4.99%

ING 2yr fixed rate with 20% deposit - was 3.69% last week, now 3.89%

Can't see how that is going to help house prices!

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5 year fixed rates mortgages are currently increasing faster than house prices are falling, making me feel worse off, not better off :angry: Especially as my real wage is falling faster than either of them.

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Can't see how that is going to help house prices!

Well, it might help them come down.

That said, haven't they been pricing in completely-ignoring-the-base-rate for some time now? I haven't noticed many new tracker deals coming in at 0.5%... the current mantra seems to be everyone charge more for everything before it all goes t1t$ up anyway...

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Example:

Nationwide 2yr fixed rate with 15% deposit - was 4.39% last week, now 4.99%

ING 2yr fixed rate with 20% deposit - was 3.69% last week, now 3.89%

Can't see how that is going to help house prices!

Hsbc 5 year rate up too

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Example:

Nationwide 2yr fixed rate with 15% deposit - was 4.39% last week, now 4.99%

ING 2yr fixed rate with 20% deposit - was 3.69% last week, now 3.89%

Can't see how that is going to help house prices!

Credit cards, store cards and catalogue accounts have all been increased lately. They have also, in many cases, increased the minimum percentage on the payment amount too.

I'm glad that I have no debts. Just the charges on the occasional use of the overdraft are bad enough. :unsure:

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I finally decided to buy, and have been looking at a five year fix. Last week there were a handful on at 5% or less with a 15% or 20% deposit. Today the only five year fix I know under 5% is the Nottingham Building Society at 4.69% with a 20% deposit, which I have just booked this morning. How long before that one is gone too, I wonder?

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5 year fixed rates mortgages are currently increasing faster than house prices are falling, making me feel worse off, not better off :angry: Especially as my real wage is falling faster than either of them.

I feel the same, but it is always like that: first IRates go up, then HPrices fall. We will have to be <sigh> patient...

I know! I am fecking "Tired of Waiting" too!!! But we have to go all the way now. Just 1 or 2 years more to wait. If we save for a bigger deposit, and buy for a smaller price, we'll be able to pay off that mortgage many years sooner.

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It's not just the rates that are rising but the fees too. YBS have simplified their fee structure, it is either £495 or £995 on the fixed rates. The 10 year I looked at through them just before chrimbo was 4.99% with a £495 fee, now it is 5.49% with a £995 fee :blink: They wouldn't give us that mortgage so went with the CoOp instead at 5.09% and £995 fee however that deals now gone. To be honest a 5year wouldn't have been offensive if it was the only one available.

As for paying it off sooner, that was the plan but not anymore... we have a mortgage for approximately £125k and once we have reduced it to £75k (3-10year plan) I intend to go interest only until retirement (33years old now) better that than lose hard earned equity on care home fees in the future.

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Lloyds 2 year fixed with 10-15% deposit now 6.79%.

Bargain.

Looks like the interest spike is looming I really can't see how the market will be calmed like last time, inflation is starting to run out of control and a return is needed.

Tick tock.

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funny that. :angry:

You don't have to be a genius to see where those bonuses are coming from.Mortgage rates at 6% and interest paid on savings at 2% leaves a nice wedge in between for the banksters to cream off.It's funny,you would have thought that in a free market someone would either have undercut mortgage rates or paid higher savings rates. It's almost as if there was some sort of cartel.

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We need them to put SVRs up. Most people in trouble will be on SVRs. Once they start going up repo rates will increase. But we may have to wait for an actual base rate rise for that.

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I have noticed that savings rates haven't risen.

complaining doesnt work

remove your cash and buy Ag +Au

only then will they take notice

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I was offered 4 times salary at 1.79% above base rate (2.29% total at the moment) by HSBC at the weekend.

With £100 arrangment fee no redemption penalty and overpayments allowed.

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Banks make laugh (or cry). Looked at Smile's savings info, as I bank with them, and it says:

Wealth Warning: saving with smile is highly addictive.

We know saving can be boring, but it's great to have a big umbrella for that rainy day. With smile you get:

0.25% gross AER* if you're a smile current account holder

Even if you don't have a smile current account you still get 0.12% gross AER*.

I mean, really? Would it kill them to give non-smile account holders the same great rate smile account holders are being offered? I know smile obviously don't want people's money at the moment, but it just seems immoral that they can pay such low interest rates to their loyal customers.

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complaining doesnt work

remove your cash and buy Ag +Au

only then will they take notice

no that wouldn't work. if you buy anything, the money will still end up in a bank account somewhere.

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I was offered 4 times salary at 1.79% above base rate (2.29% total at the moment) by HSBC at the weekend.

With £100 arrangment fee no redemption penalty and overpayments allowed.

LTV?

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Yeah we are close to putting an offer in on a place but fixed rates are moving up fast! Whether we can get a discount to cover this I dont know

This spring will be carnage. A huge pent-up supply will hit the market. I think it may be too early to buy. Particularly If you are in the south/south east.

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Yeah we are close to putting an offer in on a place but fixed rates are moving up fast! Whether we can get a discount to cover this I dont know

You will get big enough discount but it won't be instant. You need to wait it out.

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  • 277 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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