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House Price Crash Forum

Higher Interest Rate - No Problem

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For all the stories of mortgage shortages what I'm hearing at work, and from the banks is that if you want to buy (even with low % deposits) you can but have to pay a high interest rates. The higher rates (5-7%) do not seem to deter buyers.

Edit: should also add hearing lost of stories of FTB's going for 35year mortgages to get the repayment down. They are aware they'll pay alot more interest but I suppose they have a certain standard of living expected.

Though the amount to be borrowed seems to still present a problem either when the mortgage affordability control is done or the surveyor slaps a dose of reality and it differs materially from the offer. I think there was a thread looking at the Rightmove asking price divergence and certainly the Rightmove commentaries have moved to increasingly frustration with sellers.

Anyone know what's the trend like in professional indemnity insurance for surveyors?

Edited by Ash4781
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