Colin
Member
Registered: 4th Apr 02
User status: Offline
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Im getting the 1.5% interest drop passed to me.
Now £50 a month better off (my mortgage is very small!!) well better than nothing!!
Think im now meant to go daft & pump my savings back into the crumbling ecconomy 
Credit Crunch FTW
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Twiggy
Member
Registered: 15th Oct 04
User status: Offline
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Just need the rest to follow suit!
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Cosmo
Member
Registered: 29th Mar 01
Location: Im the real one!
User status: Offline
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Who is that with? Great news though - although now £50 extra for Jade to waste on shoes a month 
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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Lloyds TSB mate.
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Russ
Member
Registered: 14th Mar 04
Location: Armchair
User status: Offline
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fixed rate ftl 
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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Yeah my fixed rate ended in June & I never bothered to change as the new mortgage package was 500-1000, & my payments only increased £20!
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J da Silva
Member
Registered: 10th Apr 03
Location: The FACTory
User status: Offline
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Having no mortgage FTW 
All I want is my water rates and fuel bills to come down, oh and Diesel to go down to £2.50 a gallon.
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corsa5dr
Member
Registered: 12th Jan 03
Location: Bath/Bristol - Evo 4 GSR
User status: Offline
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6 Months ago Iwas paying £450, now I'm paying £260 following the interest rate drops. Happy days
(£112K mortgage - interest only)
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neoquip
Member
Registered: 12th Aug 02
Location: Nottm
User status: Offline
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quote:
Originally posted by corsa5dr
6 Months ago Iwas paying £450, now I'm paying £260 following the interest rate drops. Happy days
(£112K mortgage - interest only)
what % rate are you on now?
I've got a BTL mortgage that went from £338 to £535-ish this summer afterthe thee year fix rate eneded. had letter this weekend teling me it's down by 1.5% to 4.99% = £360 a month! 
thats at £89k interest only
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dannymccann
Member
Registered: 9th Aug 06
Location: Doddington, Lincolnshire
User status: Offline
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Why arent you guys repaying capital and interest? Surely you are simply paying for the pleasure of having debt?
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Brett
Premium Member
Registered: 16th Dec 02
Location: Manchester
User status: Offline
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quote:
Originally posted by dannymccann
Why arent you guys repaying capital and interest? Surely you are simply paying for the pleasure of having debt?
1) It's cheaper than renting
2) Before all this shit happened, you could sell you property for more and pay off some of the debt. It used to be that you could strategically buy/sell and pay off your house in a few years.
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a_j_mair
Member
Registered: 23rd Jan 04
Location: Scotland
User status: Offline
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one of my mortgages has just dropped £100
happy days
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neoquip
Member
Registered: 12th Aug 02
Location: Nottm
User status: Offline
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quote:
Originally posted by dannymccann
Why arent you guys repaying capital and interest? Surely you are simply paying for the pleasure of having debt?
cus when you have BUY TO LETS you get a mortgage that has the lowest repayments.. ie: you only pay the interest on the loan. then it gives you more return on the rent.
the idea is you never pay the 'loan' off unless you sell the property... at a profit.. less capital gains tax!
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dannymccann
Member
Registered: 9th Aug 06
Location: Doddington, Lincolnshire
User status: Offline
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I see your point 
I need to know all this kind of shit for in a couple of years
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neoquip
Member
Registered: 12th Aug 02
Location: Nottm
User status: Offline
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also you get tax relief on the mortgage, so theres no point paying it off.
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