rollover Posted March 5, 2015 Share Posted March 5, 2015 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? Quote Link to comment Share on other sites More sharing options...
SpectrumFX Posted March 5, 2015 Share Posted March 5, 2015 Yeah, but it comes with a £1k fee and penalties if you move house in the next ten years Quote Link to comment Share on other sites More sharing options...
Errol Posted March 5, 2015 Share Posted March 5, 2015 They are trying to get people to fix now at that rate because they know rates are going lower. Quote Link to comment Share on other sites More sharing options...
Wurzel Of Highbridge Posted March 5, 2015 Share Posted March 5, 2015 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. Quote Link to comment Share on other sites More sharing options...
spyguy Posted March 5, 2015 Share Posted March 5, 2015 Up to 60% LTV. Great - where do I find a FTB who has a 150k deposit? Quote Link to comment Share on other sites More sharing options...
spyguy Posted March 5, 2015 Share Posted March 5, 2015 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. Quote Link to comment Share on other sites More sharing options...
long time lurking Posted March 5, 2015 Share Posted March 5, 2015 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 Quote Link to comment Share on other sites More sharing options...
R K Posted March 5, 2015 Share Posted March 5, 2015 If BoE manage (we have the tools) to get inflation back to target thats not far (ok, less than 1%) off free money Quote Link to comment Share on other sites More sharing options...
Habeas Domus Posted March 5, 2015 Share Posted March 5, 2015 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. Quote Link to comment Share on other sites More sharing options...
repetitive bleats Posted March 5, 2015 Share Posted March 5, 2015 Up to 60% LTV. Great - where do I find a FTB who has a 150k deposit? Here. Although I live in Islington so that wouldn't even stretch to a studio flat. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted March 5, 2015 Share Posted March 5, 2015 (edited) 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 March 5, 2015 by TheCountOfNowhere Quote Link to comment Share on other sites More sharing options...
Ash4781 Posted March 5, 2015 Share Posted March 5, 2015 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. Quote Link to comment Share on other sites More sharing options...
gf3 Posted March 5, 2015 Share Posted March 5, 2015 Just had a look at the 10 year swap rate http://www.swap-rates.com/UKSwap.html 2.79% so they will give you this rate for a £1000 fee. Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted March 5, 2015 Share Posted March 5, 2015 Trying to tempt BMR customers??? Quote Link to comment Share on other sites More sharing options...
Saving For a Space Ship Posted March 5, 2015 Share Posted March 5, 2015 How much lower will they go? Bass (rates) How low can you go ? ....Bring the Noise Rise ! Quote Link to comment Share on other sites More sharing options...
SpectrumFX Posted March 5, 2015 Share Posted March 5, 2015 Just had a look at the 10 year swap rate http://www.swap-rates.com/UKSwap.html 2.79% so they will give you this rate for a £1000 fee. They'll have worked out that a certain percentage of households will be forced to sell up in the penalty period (debt, death and divorce) and will make their profit from the penalty fees. Quote Link to comment Share on other sites More sharing options...
Oliver Sutton Posted March 6, 2015 Share Posted March 6, 2015 Just had a look at the 10 year swap rate http://www.swap-rates.com/UKSwap.html 2.79% so they will give you this rate for a £1000 fee. 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/ Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted March 8, 2015 Share Posted March 8, 2015 (edited) 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 March 8, 2015 by TheCountOfNowhere Quote Link to comment Share on other sites More sharing options...
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