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Realistbear

Halifax Waste No Time In Hiking Mortgage Rates

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http://www.yorkshiretoday.co.uk/ViewArticl...ticleID=1682188

Borrowing rates rise at Halifax

The UK's largest mortgage lender yesterday increased its borrowing rate following the Bank of England's surprise move last week.
Halifax said its standard variable rate will increase from 6.5 per cent to 6.75 per cent which means a family with a £100,000 mortgage will have to pay just over £15 a month extra.
The rest of the major high street banks are expected to follow suit
leaving millions of homeowners with higher borrowing costs.

A step in the right direction at least.

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http://www.yorkshiretoday.co.uk/ViewArticl...ticleID=1682188

Borrowing rates rise at Halifax

The UK's largest mortgage lender yesterday increased its borrowing rate following the Bank of England's surprise move last week.
Halifax said its standard variable rate will increase from 6.5 per cent to 6.75 per cent which means a family with a
Crunch time for the property market will be when prices do actually fall - they only have to fall 5-10% and then when those with 95-100% LTV mortgages finish on their fixed rate deals find that they can't remortgage because their house is in NE and not worth what they paid for it (shock!) they will be dumped onto bank SVR rates. For them, interest rates will go from 4.5% - 6.75%+ overnight (50% increase). This is just around the corner for anyone that has bought in the last 2-3 years.
if that isn't going to be enough to accelerate the reposessions I don't know what is.

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Good on 'em I say :lol:

My girlfriend's mortgage is with Halifax... She was offered the opportunity to fix it for five years at 4.55% last year. I advised her to go for it, so she did. Less than two weeks after that the deal was withdrawn from the market, which I though was a telling sign. So GF now has a mortgage at 4.55% and the base rate is 4.75%. Brilliant! The plan now is to save as much as possible so she can pay in a lump sum when the fixed deal ends, hopefully offsetting the larger payments that will start at that point if rates are still higher.

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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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