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Thread: Interest rates!

  1. #1
    scib4's Avatar
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    Interest rates!

    Well interest rates have gone up again today as expected, with another increase due next month and then again in the summer!

    When is it going to stop?
    Mike




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  3. #2
    ding dang do

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    glad i got a fixed rate mortgage last year!

    They reckon it iwll fall soon due to the gas and electric prices dropping... Petrol is the rip off! when are the blockades gonna start again??

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    Suck it up people, I bought my first house when rates were 13.5%!
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    jeez 13.5%! thats gotta hurt.

    Just about to get my first mortgage, going fixed rate for at least 2 years I think.
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    Quote Originally Posted by AndyMac
    Suck it up people, I bought my first house when rates were 13.5%!
    You forgot to mention that houses cost the equivilent of 50p* in those days.

    I managed to get my first mortgage a few weeks ago - fixed at 4.99% for two years.

    As far as I'm concerned, the interest rate can go up to 99%. As long as it comes down again before I have to dig around again...







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    Sam - which lender did you go with? & was it through a advisor?
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  8. #7
    SamDude's Avatar
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    Quote Originally Posted by Bash_A3
    Sam - which lender did you go with? & was it through a advisor?
    Alliance & Leicester, applied over the phone.
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    And I was only earning 50p a month back then as well, it's all relative. If people can't afford an additional £20-£30 a month on their mortgage then I'd be a little more concerned about how they let themselves get into a mortgage which stretched them beyond their earnings.

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    my 3 year fixed rate is up in august, lookin into alliance n leicester, looks attractive, im 820 pm just now, times are hard !

  11. #10
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    Lucky for us - got a fixed rate mortgage secured recently with HSBC for 10 years at 5.49%. We've applied for planning permission to do a two-storey extension and the extra money we'll need is also under this rate. At least we'll know what we're paying for all that time!
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    Niknak's Avatar
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    I fixed my mortgage at 4.35% for 5 years thought it was a gamble so glad I did, I feel for those on a tracker!

  13. #12
    fingermouse's Avatar
    thats me

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    5.13 for 10 years for me .... sooooo glad I did now
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  14. #13
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    5.20 % for 10 years here too... well pleased at the momend
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    [quote=AndyMac]And I was only earning 50p a month back then as well, it's all relative. If people can't afford an additional 20-30 a month on their mortgage then I'd be a little more concerned about how they let themselves get into a mortgage which stretched them beyond their earnings.[/quote]

    Bit un-fair andy , if it was only 20-30 it went up per year i dont think anyone would moan to much , but thats about the 3rd or 4th raise in a very short term !
    Andy yes im one of the people who are stretching to try get on the "property market" but im doing it my self, no wife/partner so ALL bills are mine and mine alone, one wage needs to cover everything from morgage/car/fuel/food/ cloths etc , an i will be honest i have a not bad paying job for the area, BUT nothing brilliant
    I bought a convertable in the wettest country in the world who says Scotsmen dont have a sense of humour !

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    I hoping for a recession lol
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    Christ im hoping for a lottery win
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  18. #17
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    DAMN these interest rates!



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  19. #18
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    Quote Originally Posted by fallmonk
    Bit un-fair andy , if it was only 20-30 it went up per year i dont think anyone would moan to much , but thats about the 3rd or 4th raise in a very short term !
    It's a quarter of a percent. Prior to the recent rises, interest rates were always only going to go up, they could not go down any further, so you'd have to be pretty naive to be surprised at the recent slight rises.
    Get it in perspective, the recent gas price hike had a far more significant impact on peoples incomes, petrol & train prices likewise. Credit cards are by far the biggest culprit. People haemoraging 50-100 per month on ludicrous interest rates.
    Yes it's one more hike on top of everything else, but at least it's a hike on a sound investment. People can always stop spending money (beer, fags, cars, clothes etc), rather than blaming interest rates when they get further in debt.
    Be creative, I took in a lodger when I bought my first place and rates were 12-14%. OK property prices were a third of what they are now, but I was earning 8k-9k a year at the time and still scraped by.
    People need to take some responsibility for their finances and stop blaming everyone else apart from themselves.

 

 

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