Bring on the repossessions

Up to 5.25%, wonder how long the banks will drag their heels before
passing this one on.

 

I have 4.9% fixed for 5 years on my mortgage- not looking forward to the end
of this :-(

 

Using the patented Mavis Beacon "Hunt&Peck" Technique, ogden

<pats five year fixed deal>

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on my savings account: 3 months probably

I'd quite like a house price crash for 2 reasons: reduce a future
inheritance tax liability and I'd get a better house should I decide to
cash in my investment portfolio.

Not that I'm a selfish ****, like.

 

You can change can't you? It may cost a few quid to change mortgages to
something else, but you could win in the long term.

 

Straw that breaks the camel's back? There's been some crazy lending
multiples and many people will borrow the max they can. I believe that
credit card borrowing is at (or near) record highs.

 

<pats 15 year 4.9% fixed deal AND 12 year 4.8% fixed deal both on their
heads [1]>

[1] for two different properties, before you ask.

 

Similarly, it's not one fraction of a percentage rise. It's three in a
row, so far.

A house price crash would work quite nicely for me, speaking as someone
who hasn't got a foot on the housing ladder and would need a 5x mortgage
to even think about it. How on earth someone on normal money is meant to
do it, I have no idea.

 

Move to a more pikey area.

 

AOL

We're in a pricey area and want to upgrade, with the 10% price rise a
year I have to save like crazy just to match the difference in the price
rise in our property with the price of the one we want. As we've got a
relatively small mortgage compared to the value of our property I'd be
very happy to see a 50% or more "correction" in prices.

 

change yes, get the same deal when rates have risen, I very much doubt it

 

I've been on a series of 2-year fixes, all at 4.7 - 4.9% and all of
which have ended at auspicious points in the economic cycle (base rates
high, but longer term money cheaper). Hopefully rates will peak within
the next 18 months ...

Prices have gone spastic in leafy SW14 - an upgrade would be a fairly
expensive undertaking, possibly involving going contracting again.

 

Mortgage... yes I used to have one.

 

Hopefully rates will peak within

Forecast is inflation to rise
possible government change
outlook IMHO not good

 

A fair chunk of the reason I went to work at the BBC a few years back
was that it was the most recession-proof organisation I could think of.
Redundancy has to lead to more tv-watching, surely. In the end,
however...

 

Historically, as in over the last couple of decades, maybe longer, it's
hardly a high rate.

Anyone who borrowed to the hilt when rates were at their lowest is
going to be worrying, but then stretching yourself to the limit when
rates can only go up isn't bright.

Who'm I trying to kid, anyway? I've been skint since I was a student.
The income seems to expand to just fail to cover the outgoings of the
moment.

 

Never had one meself. It was tempting when the other half of my
duplex was up for sale last year...

--
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Brunel University. Ivan.Reid@[brunel.ac.uk|cern.ch] Room 40-1-B12, CERN
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Permission to feel smug?

2 houses (OK they *are* both in France), no mortgage, no debts.

I hope they pass the rise on bloody soon so I can start earning more
interest on the UK savings accounts 'cos the rate here is shite...!

Dave

 

And it's Champ with the bullseye, first time out!

That said I didn't exactly have crappy jobs[1], I just dress like I
did/do....

Dave

[1] The last one being, if I could've been arsed to work full time (which I
couldn't), a 6-figure-sum wage (plus the pence bit on the end).

 

What's a mortgage daddy?