John Mc Tiddler (Dogging Expert) wrote:WR 1mpostor (aka number 1 moderator) wrote:
As it stands I pay £66 per month ! What do you think my reply was.........
below
The banks are trying to get more revenue in from Mortgages especially the larger banks by saying that interest rates are going to rise sharply soon.
There are 2 reasons why they won't:
a) All the inflation indicators are below where they want to be by a long way
b) We are still in recession and people are losing jobs and houses being reposessed at a faster rate than the 90's recession!!
Banks are praying on people who want to protect against a sharp rate rise by saying they will "rate match" etc but when you read the small print, this is only where you have 25% equity in the property... when they value your home, they already knock 20% off since last year alone and then you have to have a further 25% on top of this.... basically, you'd have to have a 50% mortgage to stand any chance of getting the BEST rates... but as you said, they still charge you a "booking fee" which, when you work it out... equates to a higher rate anyway...
They are cunning b*stards and you should be really careful.... they have closed all good tracker deals now (I got base rate +0.25%) and are tempting you into good fixed rates to boost their revenues... I can't see interest rates going back to 6% for a few years... there will be a recovery but I think it will be short and there will be another dip a year later... just when the Olympics has passed and we are saddled with the debt of that!!
If you have a good deal at the moment, stick with it!! It'll be a while before it comes around again!!
Just after I read all of this serious stuff which seemed to make sense, I noticed your footer saying dogging is great.
Now, should I believe what you write?!