Mortgages on the way up?

[Lockhouse]

I'm with HSBC and for the moment I've got a guaranteed 0.63% above BOE for the life of the mortgage. A large deposit, their mortgage matcher deal and a lot of luck in picking exactly the right time to switch helped a lot.

[DimPrawn]

Doesn't bother me, I took on a mortgage that I could easily still afford even in the event of the base rate doing summat silly.

[BlackenedBiker]

Doesn't bother me, I took on a mortgage that I could easily still afford even in the event of the base rate doing summat silly.

Hurray, still paying off those peskie mortgages is by far the best bet right now.

Pay pay pay, whilst the sun shines.

[norrahe]

You will be alright then when the BOE Base Rate is 10%

Doesn't bother me, I took on a mortgage that I could easily still afford even in the event of the base rate doing summat silly.

[BlackenedBiker]

Nowt too worried, on a lifetime tracker at 0.49% over the base rate.

You will be alright then when the BOE Base Rate is 10%

[norrahe]

Me too ;O) or rather my BTL is... is that the Abbey one?

I do keep expecting a letter to fall through the door saying they're going to screw me but nothing yet.

I got mine through cooperative bank who I had a business account with at the time. Funnily enough they don't do it any more

[scooterscot]

Nowt too worried, on a lifetime tracker at 0.49% over the base rate.

Me too ;O) or rather my BTL is... is that the Abbey one?

I do keep expecting a letter to fall through the door saying they're going to screw me but nothing yet.

[norrahe]

Nowt too worried, on a lifetime tracker at 0.49% over the base rate.

[Doggy Styles]

Another good reason for IT contractors to pay down debt and clear your mortgages ASAP.

I've been doing that for the past 7 years. I'm nearly there, just in time for rates to rise when I increase my saving instead.

Or have I misunderstood personal finance?

[minestrone]

3 months in to a 5 year fixed @ 5%, I was worried I made the wrong decision but feeling a lot better about it in the last week. I do expect rates to rise quite a bit next year.

Should have the place paid off by the end of the 5 years.

[contractor79]

Another good reason for IT contractors to pay down debt and clear your mortgages ASAP.

why?

[DimPrawn]

Another good reason for IT contractors to pay down debt and clear your mortgages ASAP.

[Sysman]

Skipton triggers "exceptional circumstances" clause

Under its mortgage terms, Skipton guaranteed its standard variable rate (SVR) – the floating rate to which all deals revert – would never be more than three percentage points above the Bank of England base rate, currently 0.5pc. The society has decided it can no longer honour the guarantee and will be increasing its SVR from 3.5pc to 4.95pc.

The clause only applies to contracts taken out since 2002 apparently.