Obviously, this is not a subject that's amenable to accurate prediction. However, if anyone would care to get their crystal ball out I would be most grateful. I have to pick a new mortgage very soon, and don't know how long a capped period to go far (longer caps being more expensive).
Odds of rates shooting up significantly over the next three years or so?
Cheers,
Pete
Election next year unless gordon decides we're not allowed them any more in the interest of economic stability.
How long can you fix for?
I kind of have an inbuilt bias against fixed rates, on the grounds that fixing represents a bet between myself and the lender on what interest rates are going to do - and they know much more about the field than I do. The product I'm looking at here is a tracker with a cap; it comes in two or three year variants before reverting to SVR, and the three year version has an extra percentage point on both the offset from base rate and on the level of the cap.
Pete
Like they knew that there was no credit bubble?
FoFP
I wonder if they realise that deflation and depression can be followed by inflation and even hyperinflation. Consider that as a five or six year forecast when looking at interest rates and things look very different.
Have something to add? Share your thoughts — no account required.
Ask the community — no account required