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

Mortgages: Here Comes The Real Crunch

Recommended Posts

Got fed up with pointing out that the stability created by people moving to fixed rate mortgages was nothing of the sort because most seemed to be going to 1 or 2 years fixes.

Well it now turns out it was the vast majority.

What a surprise, not.


In 2005 over 60% of all borrowers took out a fixed-rate mortgage – the vast majority two-year fixes. That means that up to 1.3 million homebuyers could be looking for a remortgage in the next few months. Given that many who took out fixed-rates two years ago were probably paying around 4.5% for their borrowing, today the best prime rates stand at around 5.5% to 6.0%.

Share this post

Link to post
Share on other sites

Colleague moved up the 'ladder' last year. I told him to fix his mortgage for five years minimum as he is unlikely to move away, let alone move jobs (even though they seriously take the p*** by not promoting him and paying him way below his job title).

He took a 2 year fix, which expires in 6 months. Ooops.

Edited by OzzMosiz

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.

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.

Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 354 The Prime Minister stated that there were three Brexit options available to the UK:

    1. 1. Which of the Prime Minister's options would you choose?

      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

  • 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.