Financial Advisors
- Thread starter spoons
- Start date
im not a financial advisor but i wouldnt expect the interest rates to go up until next year, nobody is lending and nobody is spending and the economy is shrinking, people cant affod mortgages and there are tons of repossesions.
it would spell disaster for the economy if we all lost our homes.
it would spell disaster for the economy if we all lost our homes.
That's me Spoons.
Yep rates are gonna rise mate, not for a few months me thinks, but because of this quantitive easing (printing money), inflation's gonna rise so rates will too.
The whole reason for rates dropping has not worked as the general public are worried about the future, therefore people are not spending.
Rates will rise, why you asking mortgage or savings??
Yep rates are gonna rise mate, not for a few months me thinks, but because of this quantitive easing (printing money), inflation's gonna rise so rates will too.
The whole reason for rates dropping has not worked as the general public are worried about the future, therefore people are not spending.
Rates will rise, why you asking mortgage or savings??
Andy, if I honestly knew mate I'd have a cinema room like matey.
But, a lot of banks and building societys are offerinf 3-4-5 year fixed rate bonds at the mo
which look very attractive based on current rates.
That's because they feal rates are gonna rise.
If you're coming off a deal now, I'd fix :wink:
But, a lot of banks and building societys are offerinf 3-4-5 year fixed rate bonds at the mo
which look very attractive based on current rates.
That's because they feal rates are gonna rise.
If you're coming off a deal now, I'd fix :wink:
spoons
Grand Master
- Joined
- Oct 22, 2006
- Messages
- 8,318
forgot it was you Burnsy 
My current deal is about to end and my dilemma is whether to go for a 2 year fixed at 2.99% (which could end during a period of massive interest rates) or play it safe with a 4.24% fixed for 5 years
Guarnateed the rates are going to rocket at some point, just depends when. We're already feeling the 'green shoots' of recovery at work with the govenrment infrastructure schemes being pushed through (but it could still go tits up)
I'm leaning towards the 5 year, but i could knock 2 years of my mortgage by going with the 2 year one and take the gamble
It also depends how much is actually owed when each deal ends, which i have no idea how to work out
appreciate any thoughts you may have
My current deal is about to end and my dilemma is whether to go for a 2 year fixed at 2.99% (which could end during a period of massive interest rates) or play it safe with a 4.24% fixed for 5 years
Guarnateed the rates are going to rocket at some point, just depends when. We're already feeling the 'green shoots' of recovery at work with the govenrment infrastructure schemes being pushed through (but it could still go tits up)
I'm leaning towards the 5 year, but i could knock 2 years of my mortgage by going with the 2 year one and take the gamble
It also depends how much is actually owed when each deal ends, which i have no idea how to work out
appreciate any thoughts you may have
In five years, I'll be amazed if we aren't back where we where 2 years ago, ie rates up at about 5%. As Burnsy says, with the governemnt following the Robert Mugabe school of Economics (printing money) inflation will start to kick in and Interest rates will rise. Finally found a use for four years of Ecomincs lectures! 8)
It's a gamble either way mate, I'd be tempted to take whichever option leaves you the least to pay off at the end of it.
It's a gamble either way mate, I'd be tempted to take whichever option leaves you the least to pay off at the end of it.
