I was lucky enought not to have a mortgage, but was curious about those that do.
Makes me wonder if Gorden Brown's past preaching was right, when he was pushing the idea of fixed rate mortgages...
2007-07-05 02:16:58 · 9 answers · asked by Anyone Know? 2 in Business & Finance ➔ Renting & Real Estate
£0.00
When we were getting our mortgage 3 months ago we reckoned the rates were going to increase, so we got a 5 year fixed rate mortgage. 2 days later companies withdrew their fixed rate mortgages to new borrowers due to the immiment increase from 5.25 to 5.5%. A couple of months later and this further increase, and we're very happy we went fixed rate. Although now I'm wondering if we should have gone 10 year fixed instead of 5!
2007-07-05 06:46:59 · answer #1 · answered by Steve-Bob 4 · 1⤊ 0⤋
The rate increase means monthly payments on new mortgages will jump. Five weeks ago, a buyer with a 30-year loan would have committed to payments of $487 a month. Now it's $526. That's an 8% price difference more than enough to give most shoppers pause
2016-05-18 22:08:36 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Last year we were renting a nice house for £400 per month.We decided to buy as an interest only mortgage would be £385 per month and it would be ours.It is not as nice as the one we were renting which is still £400 per month and with the interest rises since we bought in October last year we are now paying £447 before this last rise which will take it up to £470! Wish we had carried on renting now!.We could not get a fixed rate we could afford at the time.
2007-07-05 03:10:07 · answer #3 · answered by Anonymous · 1⤊ 0⤋
I bought my townhouse three years ago. It was fixed rate for 2 years at about $783 per month. Then it went to adjustable. Over a year, it has increased to $1,048. Yeah, I'm so glad I'm selling this place and getting a better house with a fixed rate!
2007-07-05 03:04:33 · answer #4 · answered by Anonymous · 1⤊ 0⤋
About £16 per month for every £100k on a repayment mortgage.
2007-07-05 04:39:45 · answer #5 · answered by Anonymous · 1⤊ 0⤋
probaly a few extra pounds every month for me since I dont borrow money but I got some money in a savings acount
2007-07-05 02:30:01 · answer #6 · answered by aaaaaaa 4 · 0⤊ 0⤋
I pay £1250 per month so that means another £50 per month.
2007-07-05 02:28:54 · answer #7 · answered by pampurredpuss 5 · 1⤊ 0⤋
Another £78-80 per month for me.. B...strds
2007-07-05 02:20:05 · answer #8 · answered by Tiger01204 5 · 1⤊ 0⤋
It depends upon the bank
2007-07-05 02:20:16 · answer #9 · answered by Anonymous · 1⤊ 0⤋