contractor
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But when everyone is riddled with debt it can be good in the long run as it has the effect of making your debt cheaper. My parents struggled with their mortgage to start with which can now be described as peanuts. The prospect of being stuck with a high mortgage till the end is far more scary than having to deal with increasing shopping bills imo.This is my primary concern and think high inflation will occur. Inflation is a disease and wipes out the earnings and savings of the middle classes.
A week off yes, but this is no naughty step!
So if I am on 5.99% with IIB on a Variable mortgage, would I be too optimistic to hope that it will drop to 5.49 next month ?
But when everyone is riddled with debt it can be good in the long run as it has the effect of making your debt cheaper. My parents struggled with their mortgage to start with which can now be described as peanuts. The prospect of being stuck with a high mortgage till the end is far more scary than having to deal with increasing shopping bills imo.
Could this be the fastest growing Thread ever on AAM?
50 Replies and over 1,500 views in 2.5 hours - not bad.
Guys, don't get too carried away it will be taken from your pockets again in the budget next week. BUT it should make the budget easier to swallow.
The speed of this thread shows how desperate people are to get their hands on any reduction in the cost of debt!!
Because inflation is bad for investors and banks. It eats at their profits.If this cut is so good why are the markets reacting so much, FTSE down 4% and the financial system now at Defcon 1?
Because inflation is bad for investors and banks. It eats at their profits.
I know its a silly thing to ask but, if the current ECB rate cut didn't have the desired effect, or enough of the desired effect, would ECB/EU cut the rates further? Is it an option for them, or will it cause other short/longterm issues?
The gold rocket got more turbo juice today[/quote]
By any chance, are you on the greenenergyinvestor board too?
I for one, am very happy with the rate dropMy mortgage(tracker) comes out of my a/c at the end of this month. Will the update take effect then or will I have to wait until the end of Nov?
If they reevaluate and the LTV has changed then it means you need to renegotiate the mortgage. For banks which no longer offer tracker mortgages surely that means moving onto a standard variable?I don’t see how they can, isn’t the whole point of a tracker to get a margin over the ECB for the life of the mortgage?
However if you have a LTV that’s borderline they may insist on a revaluation of your home and change the rate if your LTV has changed.
If they reevaluate and the LTV has changed then it means you need to renegotiate the mortgage. For banks which no longer offer tracker mortgages surely that means moving onto a standard variable?
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