House Selling - Advice Please

If mortgage rates stabalise @ 5.5% - the winners will be savers and saving products giving 4.5% interest to savers will appear.

Its possible to get around 6.5% annuities for a 65 year old now i.e £6.5k per year pension for life on a £100k of pension savings up from 4% a year ago.

House prices may drop slightly too if mortgage rates hit 5.5% which makes it more affordable for first time buyers to buy.
 
If mortgage rates stabalise @ 5.5% - the winners will be savers and saving products giving 4.5% interest to savers will appear.

House prices may drop slightly too if mortgage rates hit 5.5% which makes it more affordable for first time buyers to buy.

I bet we don't see many savings products at 4.5% - if any!

Talk of a 10% reduction in the housing market on the way. When you have a 5% deposit that is negative equity territory and some peoples mortgages will have doubled. Crazy times. Like living back in the 70s!
 
The cynic in me is thinking the whole situation is being manipulated for a great housing reset with thousands of people with mortgages foreclosing only for the buytolet landlords to mop up and make a killing reducing home ownership in the process.

Do you really think Truss and KamiKwasi have the skill and ability to carefully manipulate the market to achieve that? Changing the stamp duty is an attempt at increasing prices anyway.

No, they have really messed up. Total incompetence. That's what has happened.
 
I bet we don't see many savings products at 4.5% - if any!

Talk of a 10% reduction in the housing market on the way. When you have a 5% deposit that is negative equity territory and some peoples mortgages will have doubled. Crazy times. Like living back in the 70s!

4.25% 2 year fixed rate already available (4.1% Cash ISA as well). Will probably be better deals offered if rates continue to rise.
 

4.25% 2 year fixed rate already available (4.1% Cash ISA as well). Will probably be better deals offered if rates continue to rise.

Well I never!! I'll be boshing my savings in one of those. Good spot.
 
I am on a variable deal at the moment, I am waiting to pay the rest of my mortgage off in a few months when my inheritance comes through via a property sale. every month my mortgage is rising and now the kicker thanks to truss is she's going to decimate the value of my inheritance. Its sickening to just stand there and say we are sticking by the wrong decision it makes me livid. I know there are far worse off than me who will lose their homes, its absolutely scandalous the scant regard she has.
 
On QT tonight a young woman said the best fixed rate she could find through a broker was 10.4% at present.

On a mortgage of £200k what are the monthly payments on that?

The interest alone is around £1733 per month.
 
On QT tonight a young woman said the best fixed rate she could find through a broker was 10.4% at present.

On a mortgage of £200k what are the monthly payments on that?

The interest alone is around £1733 per month.
The deal must be considered high risk for that to be the best rate a broker can find. Money Saving Expert have a 5 year fix at 4.2% with Barclays with a 5% deposit.
 

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