Thetownend.com

Just gone down to 5.25%, Good news then likely to be down to 4.75% by the end of the year.

:beers:   Definately  Burns style Excellent from me.  

I've just switched from fixed to a tracker.

Get in, my fixed rate is up next February so I'll be onto another bargain deal.

Happy days.

yey i'm happy.

What this Feb ?

No, February 2009.

Sorry did not read it properly

Hoping rates will be about 4.75% when I remortgage. Managed to get my current fixed deal just before all the rate rises so it'll be nice to get another one on a good deal.

Just re mortgaging stuff and this is good news

Was Bushey correct in his view a whole percent in a year would drop from Nov 07, watch he increase in values go back up in June time

It’s an interesting move.  The Bank of England’s sole remit is to maintain inflation within an accepted range (between 1% and 2% over a 2 year horizon), and the committee members openly admit that inflationary pressures are building.  They clearly think that the economic slowdown is going to be quite severe.

They certainly have a tough job.  If they manage to keep inflation on track and also manage to engineer a slowdown (as opposed to a full blown recession or house price crash) they will deserve a rather large pat on back.  Fingers crossed.

And for those who can't read Bushey-speak:

:D  Hows your stag plans going? I might offer fred 15 virgins to stay in Swindon then youd be screwed!

arrrggggh so is it silly to takeout a fixed rate at the moment?

I've got myself a Polish tour guide (a.k.a. Chubbs) so I'm happy.

Probably, yes. Rates are likely to come down at least once in the next 12 months, but more than likely down by 0.5%.

depends how long you intend to fix it for yeovil

5 years

It'll balance out over that I expect wont it

Yeah i would of thought so

Some bloody mortgage adviser you are!  :D

Fixed Rates won't change much, some have even gone up in recent months because the Banks lending rate has not been falling.  Trackers might be worth a shot for a year or 2 but weigh up the risk of rates going back up in a years time.

The oddity right now is inflation rising without consumer demand as such being the driver, it's got a lot more to do with fuel costs.

whatever mortagage people go for is a gamble in one way or another.

True

Ill stick with the 5 year fixed at least i'll know what i'll be paying

Ha Ha, mate if i could predit the rates i would be a very rich man

I'm sold up in 12 months anyway so it works out quite well for me.  

I'll be moving onto an apartment bought to let and a house so it should fall at around the right time to gauge if the market is set to increase again.  Personally I think it’s tracker for 18 months then we’ll be back onto fixed  (or so my Barclays dwelling friend tells me).

what's a mortgage :D

You'd never find 15 virgins within a 50-mile radius of Swindon!!

fixed mine for 5 years at 5.6%

the best trackers on offer were base rate plus 0.5 to 0.75 with a month delay before any cut took place. Therefore to beat the fixed rate intrest rates would have to fall to below 4.5% before a tracker would be best intrest rates weren't even that low two years ago.

you also have to remmbered that aloughth the base rate might drop the banks might not follow most have taken a big hit in the last few months what with the gobal slow down, credit crunch etc they need to make money some how. Also they have put up fee's for all products and when these are added to the overall cost it throws a right spanner in the works. don't be fooled by the headline rate or by what a FA might tell you. Do your homework and don't just listen to a FA.

But if I'm honest I reckon we will all be at war in 3 years time so we'll all be in the desert fighting the ragheads for the last few million barrles of oil