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Originally posted by reds4ever
Your mortgage is your major outlay every month, I'm certainly very 'sensitive' to it altering!
Your mortgage is your major outlay every month, I'm certainly very 'sensitive' to it altering!
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Same for me, but it is fixed for 13 years, and semi-fixed for the next 15 years. Switching to fixed interest rate mortgages is a common theme when it comes to EMU, but why do you (individually) not have a fixed mortgage?“Now we declare… that the law-making power or the first and real effective source of law is the people or the body of citizens or the prevailing part of the people according to its election or its will expressed in general convention by vote, commanding or deciding that something be done or omitted in regard to human civil acts under penalty or temporal punishment….” (Marsilius of Padua, „Defensor Pacis“, AD 1324) -
Because I don't have my own house.
www.my-piano.blogspotComment
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"...but why do you (individually) not have a fixed mortgage?"
I'm not sure anyone does fixed rate for the life of the mortgage around here.Comment
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Yeah, but why?
There are both kinds on offer here, but I clearly prefer a fixed rate.“Now we declare… that the law-making power or the first and real effective source of law is the people or the body of citizens or the prevailing part of the people according to its election or its will expressed in general convention by vote, commanding or deciding that something be done or omitted in regard to human civil acts under penalty or temporal punishment….” (Marsilius of Padua, „Defensor Pacis“, AD 1324)Comment
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I have a variable, it allows me to remortgae to a short term fixed rate if I wish. I thought on a long term fixed rate it was difficult to changeSpace is big. You just won't believe how vastly, hugely, mind- bogglingly big it is. I mean, you may think it's a long way down the road to the chemist's, but that's just peanuts to space.
Douglas Adams (Influential author)Comment
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I'm 3 years into a 5 year mortgage, many (most?) of the lenders offer reduced rates for (say) the first 2 years if you sign for for 4 or 5 years, so it pays, at the moment, to sign short term deals so you can get the most 'introductory offers'.Originally posted by HershOstropoler
Same for me, but it is fixed for 13 years, and semi-fixed for the next 15 years. Switching to fixed interest rate mortgages is a common theme when it comes to EMU, but why do you (individually) not have a fixed mortgage?
I have to admit thou if the interest rates are this low when I come out of my current deal I'll be looking at a 15 year fixed rate mortgage for peace of mind.Comment
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I'd change to fixed now. But I don't really know how mortgages work...www.my-piano.blogspotComment
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I thought on a long term fixed rate it was difficult to change
You would have to refinance.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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So would I but the 'introductory offers' invariably have penalty clauses if you opt out early. ie. they get their pound of flesh one way or the other.Originally posted by Boddington's
I'd change to fixed now. But I don't really know how mortgages work...
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Yes, I meant without paying a penaltyOriginally posted by DanS
I thought on a long term fixed rate it was difficult to change
You would have to refinance.Space is big. You just won't believe how vastly, hugely, mind- bogglingly big it is. I mean, you may think it's a long way down the road to the chemist's, but that's just peanuts to space.
Douglas Adams (Influential author)Comment
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A penalty? The mortgage business is in business to write mortgages. Don't know why they would cut off their ears to spite their faces.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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There are mortgages in the UK that impose a penalty payment if you redeem early. Theese tend to be fixed rate ones.Space is big. You just won't believe how vastly, hugely, mind- bogglingly big it is. I mean, you may think it's a long way down the road to the chemist's, but that's just peanuts to space.
Douglas Adams (Influential author)Comment
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Ah, I see. That's pretty silly, if you ask me. They are giving up huge refinance fees.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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The mortgae business in the UK is hugely competitive and you can get good deals if you look aroundSpace is big. You just won't believe how vastly, hugely, mind- bogglingly big it is. I mean, you may think it's a long way down the road to the chemist's, but that's just peanuts to space.
Douglas Adams (Influential author)Comment
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"Yeah, but why?"
I have no idea why...do interest rates vary more in the UK compared to the mainland?Comment
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