Jump to content
House Price Crash Forum
Sign in to follow this  
interestrateripoff

'one Million Buyers Have Never Seen A Rate Rise'

Recommended Posts

http://www.telegraph.co.uk/finance/personalfinance/borrowing/mortgages/10667025/One-million-buyers-have-never-seen-a-rate-rise.html

The chief executive of Britain's biggest building society has made a stark warning that a "whole generation" of borrowers have never had to cope with a rise in interest rates.

Graham Beale, writing a blog on the society's website, said one million first-time buyers have bought a property since interest rates fell to 0.5pc in March 2009 and urged them to consider the impact on their budgets if the cost of borrowing were to begin rising.

The warning came as the society's monthly index showed yet further rises in house prices. The UK average price rose 0.6pc last month to £177,846, 9.4pc higher than in February 2013.

Citing Bank of England research, Mr Beale said if mortgage rates were to increase by 2.5pc, to return to 2007 levels, it would push up the cost of a typical mortgage by around £230 a month.

Don't worry rates aren't going up for a generation so it's all irrelevant.

Share this post


Link to post
Share on other sites

Don't worry rates aren't going up for a generation so it's all irrelevant.

...only the prices will be going up.....houses were so much more cheaper to buy when rates were higher, cheaper homes and better rates on savings win.win. ;)

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 404 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.