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Cheston Pelvis

Mortgage Calculators On The 'net

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I've put this thread in the off-topic forum because I feel I'm about to ask a very stupid question (and if not that then probably something that has been asked before), but here goes anyway...

Playing around with Moneyfacts' mortgage calculator I noted with interest that when you go to calculate it puts a "friendly notice" saying the average mortgage interest rate over the last 10 years has been 7.25% whereas, the monthly payments above are based on an interest rate of ......%.

I think this is a very sensible caveat, but I can't recall seeing such a thing the last time I played around with these kind of sites (a long time ago admittedly). Is warning of interest rate rises a recent thing (perhaps introduced through "M-day") or am I being a bit forgetful in my old age?

Either way I thought it would be interesting to also highlight Auntie's own mortgage calculator, which deems it necessary to highlight what the payments would be at a whopping 12%! :o

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I think the calculators on lenders own sites should include these sort of warnings too, but I've never yet seen one that does. I have known other mortgage calculators show this, but it was rare

It annoys me when lenders show illustrations of fixed rate mortgages, where at the end of the fixed rate period the repayments revert to what they would at the lenders current SVR. How likely is it that the standard variable rate in 5 years time, or whenever, will be exactly the same as it is currently?! They should show what the repayments would be at a range of possible future rates, eg 5%, 7.5% & 10% perhaps. There are plenty of people daft enough not to know what the significance of "SVR" really is.

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  • 301 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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