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``This has been a horrible shock,'' said Sue Freeman, 43, a health researcher living in North London. She comes off a five- year mortgage rate of 4.65 percent next month and her lender wouldn't offer a new deal below 7 percent. ``I went into panic mode. I thought we'll never be able to afford a mortgage again.''
``My biggest fear is that when I try to re-mortgage it won't be accepted,'' said Robin Bingeman, 34, a product manager in southwest London, whose monthly payments are scheduled to rise to 2,600 pounds in May from 1,700 pounds. ``I had to go back to my employer and say I need a raise in order to survive.''
Why did people assume interest rates would stay < 5%?Last edited by Bagpuss; 7 April 2008, 15:21.The court heard Darren Upton had written a letter to Judge Sally Cahill QC saying he wasn’t “a typical inmate of prison”.
But the judge said: “That simply demonstrates your arrogance continues. You are typical. Inmates of prison are people who are dishonest. You are a thoroughly dishonestly man motivated by your own selfish greed.”Comment
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Originally posted by Bagpuss View Post``This has been a horrible shock,'' said Sue Freeman, 43, a health researcher living in North London. She comes off a five- year mortgage rate of 4.65 percent next month and her lender wouldn't offer a new deal below 7 percent. ``I went into panic mode. I thought we'll never be able to afford a mortgage again.''
Why did people assume interest rates would stay < 5%?
short-term memory loss maybe?
or just the head-in-the-sand approach to life?
It's Deja-vu all over again!
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Originally posted by Bagpuss View PostWhy did people assume interest rates would stay < 5%?
Maybe they believed brownstuff saying he'd bring about the end of boom and bust.
							
						Feist - 1234. One camera, one take, no editing. Superb. How they did it
Feist - I Feel It All
Feist - The Bad In Each Other (Later With Jools Holland)Comment
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Originally posted by KathyWoolfe View Postor just the head-in-the-sand approach to life?
Didn't work too well for that Latvian woman in Scotland did it!Feist - 1234. One camera, one take, no editing. Superb. How they did it
Feist - I Feel It All
Feist - The Bad In Each Other (Later With Jools Holland)Comment
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It's about time I changed this sig...Comment
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When I had a mortgage, I considered if I would be able to afford it should rates double. I can't believe all these stories of people budgeting on little or no movement in interest rates from historically low levels. Who are these people and will they buy some magic beans?Originally posted by PAH View PostMaybe they believed brownstuff saying he'd bring about the end of boom and bust.
The court heard Darren Upton had written a letter to Judge Sally Cahill QC saying he wasn’t “a typical inmate of prison”.
But the judge said: “That simply demonstrates your arrogance continues. You are typical. Inmates of prison are people who are dishonest. You are a thoroughly dishonestly man motivated by your own selfish greed.”Comment
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Do you do a finance deal?Originally posted by Bagpuss View PostWho are these people and will they buy some magic beans?It's about time I changed this sig...Comment
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They were lied to - brokers certainly were saying that don't worry about overextending yourself because you will just switch morgage to another cheap fixed term.Originally posted by Bagpuss View PostWhy did people assume interest rates would stay < 5%?Comment
 
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