Agree £50 per month extra seems good sense for security but over 5 yrs that's £3k wasted if they don't rise. I can't really see why they would raise rates with all the uncertainty about. Is a tricky one......
The house always wins..... You know what I mean, the house is the bank, your house is your house but actually belongs to the bank and if you are married it is not your house in any event.
That is the 326th Nuke I have received this week, the other 325 from Chizel - and you have the audacity to remove my Nuke too :Smuggrin:
You have a mortgage :Wideyed::Wideyed::Wideyed::Wideyed::Wideyed::Wideyed::Wideyed: gedoudda here :Jawdrop::Jawdrop::Jawdrop::Jawdrop::Jawdrop::Jawdrop::Jawdrop:
It's irrelevant any way Exe. In couple of years time, none of us will have jobs, cash, houses or bikes
Highest I got to was 15.9%, remember it went up twice in one day when things were at their worst. :anguished:
Each time I redo my mortgage I always pay as much as I can . Last time I increased my monthly cost from £850 to £930 I think it was , but managed to reduce it by another two years in length. That saved near £10k in final amount I have to pay back. Not everyone looks at it like that , some like it the opposite so they can enjoy life more now than later . The important thing when redoing a mortgage is to look at all options . Longer , shorter terms, fixed, trackers and for me always look at the final predicted cost paid out. So many people will pay big money to set up a new mortgage , put that cost onto the loan and bobs your uncle wipe out the benifits !! Use a good broker , get them to look at all options because that's what they are paid to do. Then make a decision .
I can remember 15%, back when interest only was a real alternative...although I know who few who still have them, incredibly
Great time to fix 5 years!!!! You can re-mortgage (as I did in December) with a 5 year fixed rate at about 1.84% at the moment. Arrangement fee of about £1,000. Over 5 years, that will save you a lot of money. There is a growing risk of inflation driving interest rates up over the next 1-2 years so I'm confident you won't regret making the change. Mine will save me over £5k (£170k mortgage) if the rate remains the same and increased saving as rates go up. PM me if you want a link to a good spreadsheet to compare your current mortgage with alternative offers.
