| Mortgage advice - hive mind 21:42 - Apr 16 with 1956 views | itfc_bucks |
Besides buying in Burnley and parking in Gatwick, is there any collective wisdom as to how long we should lock in our mortgage for?
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| Mortgage advice - hive mind on 21:46 - Apr 16 with 1918 views | J2BLUE |
What sort of rate are you getting? |  |
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| Mortgage advice - hive mind on 21:49 - Apr 16 with 1902 views | LeoMuff |
I went 2 years, feel rates will go down over that period, however let’s face it no one knows. |  |
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| Mortgage advice - hive mind on 22:00 - Apr 16 with 1869 views | itfc_bucks |
| Mortgage advice - hive mind on 21:46 - Apr 16 by J2BLUE |
What sort of rate are you getting? |
Haven't even looked.
Been on a five year fixed. Nothing is going to even be close. | | | |
| Mortgage advice - hive mind on 23:18 - Apr 16 with 1758 views | TheBlueGnu |
For mortgage advice allow me to recommend "The Sally Adcock Mortgage Bureau" - based on Debenham High Street. From being born in Leeds, to playing Jane Smith in Crossroads, to becoming one of East Suffolk's top mortgage advisors - she will provide impartial advice at very reasonable rates as well as discussing her good friend - the late Jack Woolgar - AKA Mr Carney. | |
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| Mortgage advice - hive mind on 09:33 - Apr 17 with 1523 views | Dubtractor |
I remortgaged a couple of months ago and went on a 2 year tracker with no exit fee. Doesn't make sense (to me) to lock a fixed rate with rates (hopefully) gradually coming down.
Worst case scenario, if they start going up again I can remortgage with no exit fee. |  |
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| Mortgage advice - hive mind on 09:40 - Apr 17 with 1467 views | JammyDodgerrr |
Obviously it's all trump dependant but the hope would be interest rates are around 2-3% in two years time, so we're about to do ours and locking in for 2 years, as to avoid locking ourselves in against a really bad rate for the next five years.
Here's hoping the bank take a .5% cut seriously as a consideration when they meet soon. |  |
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| Mortgage advice - hive mind on 09:41 - Apr 17 with 1461 views | portmanking |
I don't see mortgage rates going much lower than their current level, personally. Bank rate is likely to be cut to 3.75% and maybe to 3.50-3.25% sometime next year and will be held there due to inflationary pressures IMO. So that doesn't really give much wriggle room for mortgage rates to fall below 4%.
The gap between 2 and 5-year swap rates has narrowed significantly in recent months. That essentially means they feel mortgages will come down slightly in the short term but there's still upside risks to them rising again in 3+ years.
Personally, if you can get a 5-year mortgage at 3.xx% I think you'd be doing *very* well. Remember 3-4% is still below historical averages for a mortgage (I know that the amount we all borrow today is much, much higher than in the past though).
We won't be seeing 1.xx% or even 2.xx% mortgage rates in the short-to-medium term, if ever IMO, barring a Black Swan event. [Post edited 17 Apr 9:44]
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| Mortgage advice - hive mind on 09:50 - Apr 17 with 1434 views | portmanking |
| Mortgage advice - hive mind on 09:40 - Apr 17 by JammyDodgerrr |
Obviously it's all trump dependant but the hope would be interest rates are around 2-3% in two years time, so we're about to do ours and locking in for 2 years, as to avoid locking ourselves in against a really bad rate for the next five years.
Here's hoping the bank take a .5% cut seriously as a consideration when they meet soon. |
The problem is, why would the bank cut at 0.50% right now? Tariffs are likely to be inflationary, unemployment rate isn't (yet) rising and earnings excl. bonuses are still way above inflation.
If anything, the economy has proven very resilient to higher interest rates.
I think, in the current geopolitical and economic climate, 3.25%-3.50% will be the new neutral rate personally. | | | |
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| Mortgage advice - hive mind on 14:27 - Apr 17 with 1221 views | JammyDodgerrr |
| Mortgage advice - hive mind on 09:50 - Apr 17 by portmanking |
The problem is, why would the bank cut at 0.50% right now? Tariffs are likely to be inflationary, unemployment rate isn't (yet) rising and earnings excl. bonuses are still way above inflation.
If anything, the economy has proven very resilient to higher interest rates.
I think, in the current geopolitical and economic climate, 3.25%-3.50% will be the new neutral rate personally. |
I just think we're past the point of the interest rates doing what they need to do, all it's doing is strangling people now.
I get the plan is to incentivise saving but we are not at the point where people are spending all their disposable income and driving inflation anymore. The interest rates have locked a huge percentage of people's income into mortgages and grocery/petrol costs etc are eating up the rest. If the economy is going to grow, we need to drop it IMO so people can actually do it.
I also enjoyed and agree with this article... https://www.theguardian.com/business/2025/apr/08/bank-of-england-uk-interest-rat | |
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| Mortgage advice - hive mind on 14:40 - Apr 17 with 1183 views | portmanking |
| Mortgage advice - hive mind on 14:27 - Apr 17 by JammyDodgerrr |
I just think we're past the point of the interest rates doing what they need to do, all it's doing is strangling people now.
I get the plan is to incentivise saving but we are not at the point where people are spending all their disposable income and driving inflation anymore. The interest rates have locked a huge percentage of people's income into mortgages and grocery/petrol costs etc are eating up the rest. If the economy is going to grow, we need to drop it IMO so people can actually do it.
I also enjoyed and agree with this article... https://www.theguardian.com/business/2025/apr/08/bank-of-england-uk-interest-rat |
The thing is, disposable income was *never* the driver of inflation. It was largely supply-related rather than an overheating economy. So it's kind of a moot point.
With earnings now well above inflation, the Bank won't view that interest rates are "strangling" people. Far from it, in fact. We're also still very close to being at full employment too. From a selfish point of view - as our rate is up at the end of this year - I'd love rates to plunge, but the realistic part of my head says we've entered a new economic era.
I think it may be towards the end of the decade when we can safely see how the new phase of mortgage rates has affected the economy. Hundreds of thousands of homes are remortgaging in dribs and drabs each year and there'll be a cumulative effect at some point. | | | |
| Mortgage advice - hive mind on 16:29 - Apr 17 with 1069 views | ronnyd |
| Mortgage advice - hive mind on 09:41 - Apr 17 by portmanking |
I don't see mortgage rates going much lower than their current level, personally. Bank rate is likely to be cut to 3.75% and maybe to 3.50-3.25% sometime next year and will be held there due to inflationary pressures IMO. So that doesn't really give much wriggle room for mortgage rates to fall below 4%.
The gap between 2 and 5-year swap rates has narrowed significantly in recent months. That essentially means they feel mortgages will come down slightly in the short term but there's still upside risks to them rising again in 3+ years.
Personally, if you can get a 5-year mortgage at 3.xx% I think you'd be doing *very* well. Remember 3-4% is still below historical averages for a mortgage (I know that the amount we all borrow today is much, much higher than in the past though).
We won't be seeing 1.xx% or even 2.xx% mortgage rates in the short-to-medium term, if ever IMO, barring a Black Swan event. [Post edited 17 Apr 9:44]
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Oh the "good old days" of the 1970s and 80s, 17 & 18%. Found that a bit of a struggle. Luckily the amounts borrowed were far less. | | | |
| Mortgage advice - hive mind on 16:36 - Apr 17 with 1045 views | ArnoldMoorhen |
| Mortgage advice - hive mind on 23:18 - Apr 16 by TheBlueGnu |
For mortgage advice allow me to recommend "The Sally Adcock Mortgage Bureau" - based on Debenham High Street. From being born in Leeds, to playing Jane Smith in Crossroads, to becoming one of East Suffolk's top mortgage advisors - she will provide impartial advice at very reasonable rates as well as discussing her good friend - the late Jack Woolgar - AKA Mr Carney. |
On a forum which has seen it's fair share of eccentrics over the years, you are decidedly more Wilf Lunn than Adam Hart-Davis. | | | |
| Mortgage advice - hive mind on 16:58 - Apr 17 with 1003 views | Keno |
ok here goes
1, make sure you have ham sandwiches for the foxes
2, install a heliport to park your flying car
3, and if you are doing the sex make sure you draw the curtain
4
The perceived wisdom in investment management circles was, and to a certain extend still is, that rates could fall 0.5/0.75% this year and then stablise which can be evidences by a flattening of what had been an inverted yield curve (short term rates higher than long term ones) so much so that savings wise 2,3 & 5 year rates are almost the same.
As far as your mortgage is concerned I'd probably look at what you are offered on 2 & 3 year deals. It will mean you avoid any 'stupidity' in the coming months and re-fix at a time rate will hopefully wont need any or too much higher.
That said I dont have a crystal ball and feck knows what might happen in the coming weeks |  |
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| Mortgage advice - hive mind on 19:56 - Apr 17 with 866 views | FelixBlue4 |
I’m not a mortgage advisor but my rule for f thumb has always been to look at what you can afford vs the actual rate. If you can lock in a rate you are happy with over a long period it will give you some reassurance to budget for the next few years. Also you should get a few pay rises at work which is worth remembering. I’m 6 years into a 10 year deal but I can afford the monthly and wanted to know what my spending was, can’t remember the rate I locked in but it wasn’t bad.
Good luck. | | | |
| Mortgage advice - hive mind on 22:36 - Apr 17 with 764 views | TheBlueGnu |
| Mortgage advice - hive mind on 16:36 - Apr 17 by ArnoldMoorhen |
On a forum which has seen it's fair share of eccentrics over the years, you are decidedly more Wilf Lunn than Adam Hart-Davis. |
Thank you kind sir - I have to agree with you there - although I think I may also be similar to Jack Haig. | |
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