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Timmy2wheels
@Dammit
I am in the middle of re-mortgaging, the amount is 125k plus 10k to get the plastering etc finished, so 135k against a value of 400k for the flat.
With Brexit I think that the slump in house prices that we've seen recently is going to accelerate, and inflation is going to continue to rise.
Now the classic method of fighting inflation is to raise interest rates, but that would accelerate the fall in house prices as money becomes harder to obtain - so I don't know what the BoE is likely to do there.
So I don't know if a fixed rate mortgage for (say) five years is a better idea than a tracker.
In terms of LTV - if I secure a mortgage at the current 35% loan to 65% value, then the flat loses half it's value over the next couple of years as our economy implodes can the bank change the terms of the mortgage?