corsasport.co.uk
 

Corsa Sport » Message Board » Off Day » House Day » Mortgage Rates to drop again?


New Topic

New Poll
  Subscribe | Add to Favourites

You are not logged in and may not post or reply to messages. Please log in or create a new account or mail us about fixing an existing one - register@corsasport.co.uk

There are also many more features available when you are logged in such as private messages, buddy list, location services, post search and more.


Author Mortgage Rates to drop again?
Bart
Member

Registered: 19th Aug 02
Location: Midsomer Norton, Bristol Avon
User status: Offline
   10th Nov 08 at 08:21   View User's Profile U2U Member Reply With Quote

I've heard whispers that it may be coming down to 1%

Is there likely to be any truth in that?
We're currently fixed at 6.5% (i think), and are considering cancelling and setting up a new mortgage rate, but It would all depend on whats going to happen.

[Edited on 10-11-2008 by Bart]
daymoon
Premium Member

Registered: 1st Aug 08
Location: Selby, North Yorkshire
User status: Offline
10th Nov 08 at 08:26   View Garage View User's Profile U2U Member Reply With Quote

i think i gonna take a mortgage when they go down to -10%

happened in japan once...

as for 1 percent - dint think so.
deano87
Member

Registered: 21st Oct 06
Location: Bedfordshire Drives: Ford Fiesta
User status: Offline
10th Nov 08 at 08:32   View User's Profile U2U Member Reply With Quote

1% is what got us in this silly mess thanks to the Americans.
Bart
Member

Registered: 19th Aug 02
Location: Midsomer Norton, Bristol Avon
User status: Offline
10th Nov 08 at 12:48   View User's Profile U2U Member Reply With Quote

quote:
Originally posted by deano87
1% is what got us in this silly mess thanks to the Americans.


How do you mean?
Ian
Site Administrator

Avatar

Registered: 28th Aug 99
Location: Liverpool
User status: Offline
10th Nov 08 at 14:48   View Garage View User's Profile U2U Member Reply With Quote

I think he means that cheap borrowing has got the economy in the current state.

I can't see the rate going much lower. Not much of it will be passed on to borrowers because most trackers will have a floor rate. Therefore all the government's talk about banks co-operating will be largely academic.


Corsa B lap belts required
deano87
Member

Registered: 21st Oct 06
Location: Bedfordshire Drives: Ford Fiesta
User status: Offline
10th Nov 08 at 14:51   View User's Profile U2U Member Reply With Quote

Yes. America dropped their 'Bank of America' interest rates to 1%, resulting in every body getting loans and mortgages. Then everyone started defaulting on payments etc
Ian
Site Administrator

Avatar

Registered: 28th Aug 99
Location: Liverpool
User status: Offline
10th Nov 08 at 21:35   View Garage View User's Profile U2U Member Reply With Quote

The American economy was in a state well before the rate dropped to 1% Deano.


Corsa B lap belts required
Tim
Site Administrator

Avatar

Registered: 21st Apr 00
User status: Offline
10th Nov 08 at 22:07   View Garage View User's Profile U2U Member Reply With Quote

You might want to check your T&C too. Normally cancelling a fixed-rate mortgage during the initial term results in a hefty fee (ours is 3% of the balance!)...

I've got to re-mortgage in May though -- hopefully the recent cut in base-rate will filter through in the New Year.
Colin
Member

Registered: 4th Apr 02
Location: Drives a hire car
User status: Offline
10th Nov 08 at 22:22   View User's Profile U2U Member Reply With Quote

Im out of a mortgage deal & on the BOE Base rate just now with no plans on changing.

 
New Topic

New Poll

  Related Threads Author Forum Replies Views Last Post
Anyone on here own a house that they rent out? Matt H House Day 19 849
26th Jan 07 at 11:10
by John_C
 
House Price Crash James House Day 27 1511
27th May 08 at 21:37
by GirlRacerRed
 
03 Silver MK4 GSI TURBO! Fear Cars Offered 25 3407
7th Jul 07 at 07:47
by Fear
 
Mortgage - Which Way to Go?? bishbosh House Day 15 670
7th Sep 07 at 20:08
by Russ
 
how old where u? chunk89 House Day 69 2449
20th Aug 08 at 21:15
by luke85
 

Corsa Sport » Message Board » Off Day » House Day » Mortgage Rates to drop again? 30 database queries in 0.0097461 seconds