Rates destroys families , because parents have to work flat out to pay mortgage and all bills! My self just about to pay off mortgage plus bills but I don’t have time for my family!😢 feels like all world gone crazy, everyone is so greedy! 😭
People they say historic is a low rate thing at the value of the mortgage compare with the salaries. 30 years ago nobody will borrow half million, where in some places, today is normal.
Keep it as they are. They’ve put us in this mess causing inflation with stupendously low rates the last 10 years, fuelled massive house price growth and many over stretching who are now struggling. Printing money has fuelled increasing prices everywhere which is hurting everyone. Basically inflation is incredibly hard to control, and they keep stoking the fire. Put the rates at 5%, high house prices are strangling the economy
I feel like I am in a different world. 4.75% is a very low rate, Money is almost free to borrow and that`s why we have a problem as money has no value, Get the rates up so house prices will drop making it possible for low paid people get on the ladder.
4.75% yearly. For 30 years mortgage, you pay back 142.5 % If you take a 300 k mortgage, you pay back 727.5 k. That is just over 2k month. Higher rate reduces the affordability. Prices will not crash as we saw in the last 2 years.
It’s entirely possible and likely for house prices to slide due to reduced affordability. People cannot afford to borrow at the same levels that caused the current level of house prices.
Governor Andrew Bailey said: "We think a gradual approach to future interest rate cuts remains right, but with the heightened uncertainty in the economy we can't commit to when or by how much we will cut rates in the coming year."
@@Mr1971mccarthy It's just a "transfer of wealth" from the savers to the mortgagees & back again - the Government care not who they throw under the bus . . your job is to make sure you stay on the right side & solvent . . #hopeium is not a #strategy #tworatecutsnextyear ?
the Bank of England's Monetary Policy Committee has voted 6-3 in favour of leaving the base rate at 4.75% with 3 members voting for a cut, looking forward not sure if there would be any decrease but to see things right will wait for April 2025 what’s next.
Rents won't rise as much and. more able to afford a mortgage! property prices highly unlikely to drop. Everything is about supply and demand and property is, and will continue to be in demand!@@zerosumequation
Its a wash - if they cut the rate inflation goes up you pay more at the till. If they hold the rate inflation stays suppressed so you don't pay more at the till. Its a wash
I have just fixed prior to budget at 4.01% no product fee. Every broker was advising against 5 year and saying rates are on the way down. Trusted gut instinct and know we're I stand now, perhaps in 2027 will be lower, but sometimes better to know we're you stand.
Read MORE about it on our newest blog: property-accelerator.co.uk/bank-of-england-keeps-rate-at-4-75-amid-inflation-concerns/
Rates destroys families , because parents have to work flat out to pay mortgage and all bills! My self just about to pay off mortgage plus bills but I don’t have time for my family!😢 feels like all world gone crazy, everyone is so greedy! 😭
People they say historic is a low rate thing at the value of the mortgage compare with the salaries.
30 years ago nobody will borrow half million, where in some places, today is normal.
Borrowing that much should never have been normalised. It was only possible because of artificially low interest rates.
Historically 4.75% is a low rate
Not if you have to add lenders rate on at an additional 2-3%!
Keep it as they are.
They’ve put us in this mess causing inflation with stupendously low rates the last 10 years, fuelled massive house price growth and many over stretching who are now struggling.
Printing money has fuelled increasing prices everywhere which is hurting everyone.
Basically inflation is incredibly hard to control, and they keep stoking the fire.
Put the rates at 5%, high house prices are strangling the economy
I feel like I am in a different world. 4.75% is a very low rate, Money is almost free to borrow and that`s why we have a problem as money has no value, Get the rates up so house prices will drop making it possible for low paid people get on the ladder.
4.75% yearly. For 30 years mortgage, you pay back 142.5 %
If you take a 300 k mortgage, you pay back 727.5 k. That is just over 2k month.
Higher rate reduces the affordability. Prices will not crash as we saw in the last 2 years.
It’s entirely possible and likely for house prices to slide due to reduced affordability. People cannot afford to borrow at the same levels that caused the current level of house prices.
Governor Andrew Bailey said: "We think a gradual approach to future interest rate cuts remains right, but with the heightened uncertainty in the economy we can't commit to when or by how much we will cut rates in the coming year."
They are going to sit on their hands and hope.
One more cut at most. Libor up 0.3%. The only way is up from mid 2025
The sooner rates increase the less it will have to increase by
@@Mr1971mccarthy It's just a "transfer of wealth" from the savers to the mortgagees & back again - the Government care not who they throw under the bus . . your job is to make sure you stay on the right side & solvent . . #hopeium is not a #strategy #tworatecutsnextyear ?
👍
the Bank of England's Monetary Policy Committee has voted 6-3 in favour of leaving the base rate at 4.75% with 3 members voting for a cut, looking forward not sure if there would be any decrease but to see things right will wait for April 2025 what’s next.
Keep intrest rates as they are or even go higher.
Sorry, But why go higher ? Whats the logic ?
@@FS-hp9oy Whats the logic ? for them going down?
Yep I agree. BOE were mad lowering rates so far, because it is hard to increase them to a rate that allows the money system to function.
Rents won't rise as much and. more able to afford a mortgage! property prices highly unlikely to drop. Everything is about supply and demand and property is, and will continue to be in demand!@@zerosumequation
@@FS-hp9oy Inflation is going up.
Its a wash - if they cut the rate inflation goes up you pay more at the till. If they hold the rate inflation stays suppressed so you don't pay more at the till. Its a wash
Soo glad I fixed for 5 years
Nice work
depends when you did it. Personally, I would fix for 5 years now.
@@paulmccarthy5438it was this year.
@@paulmccarthy5438 what rate?
I have just fixed prior to budget at 4.01% no product fee. Every broker was advising against 5 year and saying rates are on the way down. Trusted gut instinct and know we're I stand now, perhaps in 2027 will be lower, but sometimes better to know we're you stand.
Freehold is the way forward 👍
The BoE is the Government in fact the city of London is a different sate on its own.
Inflation?
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How about they buy American cheese, just a thought...😂
American Cheese the best in the world!
You'll own nothing and be happy.