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Fix Your Home Loan For A Decade At 2.79%

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And thanks to the record low mortgage rates being offered at the moment, that cost could be a lot lower than it once would have been. Nationwide has cut its ten-year fixed rate mortgage to as low as 2.79 per cent for its existing borrowers, or 2.89 per cent for new borrowers. http://www.dailymail.co.uk/money/mortgageshome/article-2979017/Nationwide-record-low-ten-year-fixed-rate-mortgage-2-79.html

How much lower will they go?

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My variable is 1.79%, anyone see base rates rising more than 1% in the next decade? Nationwide don't, but then they don't have a crystal ball and most likely don't give a shite if these loans blow up the bank in a few years time.

Todays bonuses are made from flogging these loans.

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My variable is 1.79%, anyone see base rates rising more than 1% in the next decade? Nationwide don't, but then they don't have a crystal ball and most likely don't give a shite if these loans blow up the bank in a few years time.

Todays bonuses are made from flogging these loans.

Up to 60% means there should be enough equity to recover the repo costs.

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Yeah, but it comes with a £1k fee and penalties if you move house in the next ten years

Thats the killer 7% in the first 4 years 6% going to 1% over the next 6 years

All these CHEAP deals have a sting in the tail somewhere great if you are sure you're going to be there ten years though

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If BoE manage (we have the tools) to get inflation back to target thats not far (ok, less than 1%) off free money

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Up to 60% means there should be enough equity to recover the repo costs.

Or that the bank has millions of existing customers all mortgaged up the wazoo, and they need to find some people with at least some equity, to make the banks liquidity figures look a bit better, just in case the impossible happens and prices fall.

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Why ever would a banker do someone such a great deal ?

And, only asking you for a 40% deposit too .

Like lambs to the slaughter.

Edited by TheCountOfNowhere

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How much lower will they go?

They'll be a theoretical lower limit. I'm not sure on the margin but I think the Bank of England can protect that. Most banks are diverse but Nationwide mortgage lending is pretty much the business.

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That website hasn't been updated for a year. The 10 year rate is now 2.06%.

http://www.mortgagesforbusiness.co.uk/research-data/money-markets/

got to laugh. We've been robbed blind under the housing pyramid scam.

This whole thing has crippled the country and some are rejoicing in this new paradigm. ****ing hilarious. The bubble won't last the year out.

Edited by TheCountOfNowhere

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