6% May Be 6% May Be
Page 1 of 3 123 LastLast
Posts 1 to 10 of 27

Thread: 6% May Be

  1. #1

    Fingers like lightning

    Ivor1 has no reputation


    Join Date
    Sep 2005
    Posts
    555

    Default 6% May Be

    http://news.bbc.co.uk/1/hi/business/6682971.stm

    Must be starting to hit people now, Im defo feeling it in terms of increasing mortgage payments, even more so if we hit 6%. So far its added £165 a month to my mortgage.

    Last edited by Ivor1; 23rd May 2007 at 11:35.

  2. #2

    Still gathering requirements...

    phayes has no reputation


    Join Date
    Dec 2005
    Posts
    34

    Default BOE Rates

    Phew!

    Luckily, I just switched to a fixed rate.

    looking at historical data etc, we have been getting very low rates in comparison to the last 25yrs or so.

  3. #3

    Nice But Dim

    DaveB is a fount of knowledge

    DaveB's Avatar
    Join Date
    Oct 2005
    Posts
    19,911

    Default

    So I'm gonna be a couple of months out , still not a bad effort I thought

    Mortgage has been fixed at a quarter to half a point below base rate for the last 3 years, just signed up for another 2 at 5.14%.
    Last edited by DaveB; 23rd May 2007 at 11:49.
    "Being nice costs nothing and sometimes gets you extra bacon" - Pondlife.

  4. #4

    Fingers like lightning

    Ivor1 has no reputation


    Join Date
    Sep 2005
    Posts
    555

    Default

    Quote Originally Posted by phayes
    Phew!

    Luckily, I just switched to a fixed rate.

    looking at historical data etc, we have been getting very low rates in comparison to the last 25yrs or so.
    I was on discount rate but went for that based on the fact we would need 4 rate rises before it was at the same level as the best fixed deal I could get, still got a year to run on it though, early repayment fees to high to bail, just go to ride it out. Its not to bad for me as my payments are affordable in relation to income I didnt max out, but people who did max out and didnt fix are going to feel it

  5. #5

    Fingers like lightning

    Ivor1 has no reputation


    Join Date
    Sep 2005
    Posts
    555

    Default

    Quote Originally Posted by DaveB
    So I'm gonna be a couple of months out , still not a bad effort I thought
    Didnt see that post until to late my current mortgage started in Jun 06. Feckdy feck, oh well cant do anything now but cut back on the .....

  6. #6

    Seriously Banned

    Troll is NOT a disguised employee

    Troll's Avatar
    Join Date
    Jun 2006
    Location
    Gods own Country
    Posts
    12,726

    Default

    8% is a prediction for the short term
    How fortunate for governments that the people they administer don't think

  7. #7

    Contractor Among Contractors

    Buffoon has no reputation

    Buffoon's Avatar
    Join Date
    Aug 2006
    Location
    In a world of my own
    Posts
    1,075

    Default

    There is a very good chance of another rise at the jun/jul/aug meeting of MPC. Not too sure on another one after that taking rates to 6%, but there is certainly a chance.
    Drivel is my speciality

  8. #8

    Fingers like lightning

    pisces has no reputation


    Join Date
    Sep 2006
    Posts
    539

    Default

    The bigger the bubble, the harder it bursts.

  9. #9

    Nice But Dim

    DaveB is a fount of knowledge

    DaveB's Avatar
    Join Date
    Oct 2005
    Posts
    19,911

    Default

    At least a couple of the members of the MPC wanted a half point rise this time. If inflation doesn't look like it's coming under control then a half point rise next month or the month after is getting more and more likely.

    I'm starting to think I was too optimistic and we may get 7% before the end of the year.
    "Being nice costs nothing and sometimes gets you extra bacon" - Pondlife.

  10. #10

    Godlike

    Clippy has no reputation

    Clippy's Avatar
    Join Date
    Nov 2006
    Posts
    6,701

    Default

    Quote Originally Posted by Troll
    8% is a prediction for the short term
    Predicted by who?

    If rates were to go above 6%, a lot of people are going to struggle with repayments.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •