Wainy316 Posted November 2, 2017 Share Posted November 2, 2017 I have a year remaining on my fixed term then I guess when that finishes I'm thrown to the wolves. Is there anything I can do to avoid just facing what the rates are in a year's time? Link to comment Share on other sites More sharing options...
Genie Posted November 2, 2017 Share Posted November 2, 2017 5 minutes ago, Wainy316 said: I have a year remaining on my fixed term then I guess when that finishes I'm thrown to the wolves. Is there anything I can do to avoid just facing what the rates are in a year's time? You can renew at any time, just might need to pay an exit fee. If you're staying the same lender then they might waiver it. Link to comment Share on other sites More sharing options...
Rodders Posted November 2, 2017 Share Posted November 2, 2017 rate could go back down next year so you might be fine. I've got about 18 months to go - just have to wait and see, can't imagine the rate rise being too prohibitive in the next year or so? If Brexit is any kind of factor we should at the least have certainty on a transition period by then anyway. Link to comment Share on other sites More sharing options...
Milfner Posted November 2, 2017 Share Posted November 2, 2017 On 25/07/2017 at 17:23, Milfner said: Had an offer accepted on my first house! Finally got a move in date. Four months to get to this point! The whole process really is a farce. 1 Link to comment Share on other sites More sharing options...
markavfc40 Posted November 2, 2017 Share Posted November 2, 2017 The rate won't go up by anymore than another half a percent over the next year so you will still be looking at ridiculously low interest rates. Who knows what will happen beyond that but I wouldn't at all be surprised to see a 2 or 3 percent rise over the next handful of years and getting back towards what would for many of us still be considered the norm. 1 Link to comment Share on other sites More sharing options...
TrentVilla Posted November 2, 2017 Moderator Share Posted November 2, 2017 45 minutes ago, Wainy316 said: I have a year remaining on my fixed term then I guess when that finishes I'm thrown to the wolves. Is there anything I can do to avoid just facing what the rates are in a year's time? You can leave a mortgage deal at any time but will have to pay a fee, depending on the rate you are on compared to the market it can be worthwhile. Link to comment Share on other sites More sharing options...
TrentVilla Posted November 2, 2017 Moderator Share Posted November 2, 2017 34 minutes ago, Rodders said: rate could go back down next year so you might be fine. I've got about 18 months to go - just have to wait and see, can't imagine the rate rise being too prohibitive in the next year or so? If Brexit is any kind of factor we should at the least have certainty on a transition period by then anyway. Another one or perhaps two .25% rises to come in 18 mths I would think. Link to comment Share on other sites More sharing options...
TrentVilla Posted November 2, 2017 Moderator Share Posted November 2, 2017 35 minutes ago, Rodders said: rate could go back down next year so you might be fine. I've got about 18 months to go - just have to wait and see, can't imagine the rate rise being too prohibitive in the next year or so? If Brexit is any kind of factor we should at the least have certainty on a transition period by then anyway. Pretty unlikely they will go back down. Link to comment Share on other sites More sharing options...
Chindie Posted November 2, 2017 VT Supporter Share Posted November 2, 2017 I finally completed buying the remaining shares of the house I co-owned today. It's taken 6 months. To buy a property I already owned part of. Mad. Good timing on the mortgage though. 2 Link to comment Share on other sites More sharing options...
Kingman Posted November 2, 2017 Share Posted November 2, 2017 If they are following the path laid out by the FED then we can expect another rate rise in FEB 18 and another in MAY 18, so more proof that the BOE will follow the fed with a few months delay. Which would mean another rise next year, providing the fed raise as expected in December. Would be rather silly for a country to try and delay a housing crash in 2008 and pump a bubble on top of the previous bubble. then be forced to raise rates 2017 + 2018. interest rates are a one tricky pony, a one-time housing prop. the effects of tiny rate rises will be much more extreme than the cuts. one more raise and that’s all it will take for the panic to start. Even if it’s just another 0.25%. This one won’t have too much of an effect, maybe it will prove a few ‘they will only ever drop not raise’ people wrong with the next raise scaring the poo out of millions. even the threat of another raise will create walls of sellers The world had low rates, Now we move to higher rates and follow the reserve currency we have to lest we get too far behind the curve and the rates go up in x rather than .x increments. You can be sure though that Carney raising by .25% means we needed at least .75% and we will be behind the curve anyhow. Its all aligning for a cluster ****** May goes > Carney jacks it > Hard exit of EU and then real rate rises. Wouldn't you just hate to be a boomer right now that's lent their child a 40% deposit. Link to comment Share on other sites More sharing options...
TrentVilla Posted November 4, 2017 Moderator Share Posted November 4, 2017 A 40% deposit wiped out by a 40% market crash! Link to comment Share on other sites More sharing options...
Genie Posted November 4, 2017 Share Posted November 4, 2017 In 2008/2009 when the economic crisis was really biting the housing market didn’t dip much or at all, I’m not sure what would trigger a crash if it didn’t really flinch then. 1 Link to comment Share on other sites More sharing options...
Kingman Posted January 15, 2018 Share Posted January 15, 2018 On 11/07/2017 at 21:09, Kingman said: I would do just that and take a market check around Christmas. One of the first could be Carillion, shares are in carnage and could be close to collapse, This is the first of many FTSE listed companies IMO with a black swan and profit warnings, could very well snowball far and wide! So 6 months on... They've actually let it go into direct liquidation this AM. Huge amounts of skeletons to bury to avoid administration and some KPNG auditor coming across the bodies? Bit of an old boys club, Shades of a British Enron. Under cutting along the way, grossly overpaid management, taxpayers taken for a ride, AWOL auditors & pliant/ignorant ministers and officials. This is going to run & run! Balfour Beatty next IMO 2 Link to comment Share on other sites More sharing options...
Xela Posted February 2, 2018 Share Posted February 2, 2018 (edited) Been looking at the area around Bewdley and Cleobury. Fancy a more semi-rural living experience. Might move in next to @limpid and play my Oasis records at full volume I used to holiday in Bewdley every summer as a kid (Nan and Grandad had a caravan there) so I am fond of the area. Edited February 2, 2018 by Xela Link to comment Share on other sites More sharing options...
Genie Posted February 2, 2018 Share Posted February 2, 2018 (edited) . Edited February 3, 2018 by Genie Link to comment Share on other sites More sharing options...
limpid Posted February 2, 2018 Administrator Share Posted February 2, 2018 12 minutes ago, Xela said: Been looking at the area around Bewdley and Cleobury. Fancy a more semi-rural living experience. Might move in next to @limpid and play my Oasis records at full volume I used to holiday in Bewdley every summer as a kid (Nan and Grandad had a caravan there) so I am fond of the area. No worries. I'm ready 1 Link to comment Share on other sites More sharing options...
NurembergVillan Posted February 2, 2018 Moderator Share Posted February 2, 2018 3 hours ago, Xela said: Been looking at the area around Bewdley and Cleobury. Fancy a more semi-rural living experience. Might move in next to @limpid and play my Oasis records at full volume I used to holiday in Bewdley every summer as a kid (Nan and Grandad had a caravan there) so I am fond of the area. My sister lives in Cleobury. She used to run The Talbot pub for a few years but gave it up a little while ago. She loves it over there, even if they're isolated at the first sign of snow. 1 Link to comment Share on other sites More sharing options...
limpid Posted February 2, 2018 Administrator Share Posted February 2, 2018 32 minutes ago, NurembergVillan said: My sister lives in Cleobury. She used to run The Talbot pub for a few years but gave it up a little while ago. She loves it over there, even if they're isolated at the first sign of snow. Well, they say they are.... 2 Link to comment Share on other sites More sharing options...
Genie Posted March 3, 2018 Share Posted March 3, 2018 (edited) Managed to move house yesterday, what a day! It was panics all round as first time buyers solicitor hadnt got the money in place to compete until 2pm. Weather descended, thank god I had removal a firm. As it’s a new build I’ve had a full day or putting up curtains and blinds on top of the usual unpacking. Bloody love my new house. Problems: 1) No WiFi 2) No Virgin/Sky TV 3) I can barely get a signal though the crappy aerial I found so I’m pretty much limited to BBC1 and it’s currently “All together now” Edited March 3, 2018 by Genie 4 Link to comment Share on other sites More sharing options...
Xela Posted March 3, 2018 Share Posted March 3, 2018 3 minutes ago, Genie said: Managed to move house yesterday, what a day! It was panics all round as first time buyers solicitor hadnt got the money in place to compete until 2pm. Weather descended, thank god I had removal a firm. As it’s a new build I’ve had a full day or putting up curtains and blinds on top of the usual unpacking. Bloody love my new house Did you move fairly local to your old place? Congrats on the move Link to comment Share on other sites More sharing options...
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