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Going to be interesting to see how this pans out, as it's surely going to have an affect on people's decision to move
Isn't that the point of rate rises? To cool the economy down.
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Within hours of his comments, one of the UK’s biggest lenders, Nationwide, said it was increasing selected fixed and tracker rates by up to 0.45%, from Friday.
Broker mentioned this to me in advance and yeah, got it locked in before today's hike.
Still waiting to hear back on the current offers following the hike. Just curious.
Jameo
coventry_eagle
@tonylast
'UK homeowners and first-time buyers warned to brace for 5%-plus mortgage rates'.
Took a while to find a house we wanted to move into last year so we've got bits of paperwork all over the place with calculations. Had we managed to find and complete something in January we'd have got a ten-year fix at 1.44% but didn't eventually move until November which means we ended up with one at 3.34%.
Going to be interesting to see how this pans out, as it's surely going to have an affect on people's decision to move - we certainly wouldn't have done had we had a rate much higher and whilst we 'stress tested' ourselves with (many!) spreadsheets I'm sure there's plenty out there that are going to get a shock.