Interest Rate

mmm. I took a 25 year fixed mortgage at some number higher than that... Still, no regrets - I like the certainty. Also when we come out of deflation (and excluding currency effects, we are currently in a deflationary period) at around the same time as the VAT rate rises back up again and the combined price effects lead us into a hyper-inflationary situation, I'll be sitting pretty :D
 
That is fair enough.... I've kept track of mine and I've always done better on discount variable and then on tracker than I would have on fixed. Interest rates will go up I've no doubt, but while the sun is shining, I am upping my mortgage payments so that the capital is hit a fair bit.... if these interest rates persist for a year or more, with my increased payments I could be taking 3-5 years off the mortgage term.
 
I'm flipping delighted - it means my gigantic mortgage goes down and my earnings go up (as I own a number of properties).
 
I'm toast whatever... :(

not sure I like this thread!
 
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lbr said:
mmm. I took a 25 year fixed mortgage at some number higher than that... Still, no regrets - I like the certainty.
Click to expand...

I've got 13 years left on mine - more than 2% tho but at least I know exactly what's going out every month.
 
I have "fixed" twice over the course of my Mortgage, It cost me money both times as I had to buy myself out because rates had changed significantly enough to make it worthwhile, although that also meant that I lost all the benefits I had gained from being fixed.

On a tracker now and smiling a lot at 0.18% above base so 2.18% with 3 years to go until its finished
 
Rates disater.

Hi guys

Yes many will be better of, but for many pensioners and those in negative equity they are in big trouble. Pensioners are relying on the interest from their savings to supplement their pensions(State or other wise). Lets face it with rising costs(food, fuel etc) many are going to find themselves with backs to the wall. How many are going to die because its eat or heat. How many will see killing themselves as the only way out of this current disaster. Spare a moment to think about the many who are in deep trouble and can't find away out. I am glad some of you are okay but less of the back slapping and a we bit more concern for the multitudes that are less well of. Spare a thought and do something to help. If you know someone in trouble keep an eye on them and if you can help in any way do so. If you have a pensioner in your steret or apartment block help if you can. Don't ignore them with a I am all right Jack attitude. How would you feel if you hear they have died and you could have made a difference. Its up to all of us to be good citizens in these difficult days. I know some will come back with words of, well if they were so stupid etc. Don't do this. There but by the grace of God go I. It could happen to any of us. I hope it doesn't, but if we all help things will be a bit easier.

D Louth 77
 
High Horse

Hi

Maybe it is, but a wee bit of concern for others, might make this a much better planet to live on.

Regards D Louth 77
 

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