I had a conversation with someone this week about mortgage rates ( yes, I know... ) and she expressed some shock ( and awe ) that I am 3 years through a 10 year fixed rate - you just can't get them any more. I did some checking - I 'bought' mine just before the recession and it was a very good deal at 5.45% - fixed rates mean security and stability for the self employed. I checked today, and despite mortgage rates being at an all time low - the best fixed rate deasl available are 5 years at roughly 5.5% - which means that I might possibly have done something right for once in my life. I might have a T Shirt made "my mortgage is better than yours".
(The Yorkshire does have one at 4.99 for 10 years, the only UK one I could find, but it's 60% LTV - so not for most people )
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Don't get me started. My mortgage deliberations resulted in me going for something fixed for five years at about 6% having ben told that interest rates could only go in one direction. Then they go and sit still for a year at least. I'm praying, unlike most other people, for them to go up so I can at lesst feel I made the right decision.
yes - but remember - if you had only taken out a 3 year mortgage, the way things are you may not be able to get one at the end of the fixed rate period - so rejoice, rejoice, rejoice - and look out of your window across the park and be king of all you survey.
Alas, I don't have a view of the park unless I crane my neck from my vile kitchen. I have Magnet coming round on Saturday to measure up and make proposals for a new one. It's all just a fantasy and they are unwitting pawns in my game.
one of my favourite pastimes used to be inviting tradesmen over to measure up. Make sure that there are lots of hard to reach places and you have some decent chocolate biscuits for afters.
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