Is this another one? bit to close to the piers moron view? dinosaurs? empty planes? johnson lurve? theres another most hideous I think I'm forgetting... unless I've been stealth bombered...
Current Affairs Mortgages
- Thread starter neil999
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FrenchDarrenBent
Player Valuation: £20m
We still have a trade war with Europe to look forward to. That'll cripple the already shaky supply lines. It might even deflect attention of another tax cut in November
If interest rates go to 6% my mortgage will be £2600 a month. 
oh yea, the good Friday agreement to protect, and support for Ukraine to continue to find and fund. Free 'holidays' to Rwanda to deliver, theres got to be more, the ante is only so crushing at the moment...
I have no idea what you earn, but that seems a little unsustainable, especially when we will be paying 9k a month to switch a light on.If interest rates go to 6% my mortgage will be £2600 a month.
Martin Alvito
Player Valuation: £50m
The even bigger problem in the housing crisis was all of the exotic products - balloon payment, interest-only, liar loans (stated income, stated value) and what not. ARM delinquency rates were ugly, but those were worse.Thankfully a much smaller %of market than did before housing crash and hopefully a lot of those are from this summer and are in 5 year ARMs so will be a while before rate changes
What’s more, while the MBA data show that ARMs have ticked up to account for their largest share of overall mortgages since 2008, they are still just 11% of the market. In the run-up to the housing crisis, ARMs accounted for well above 30% of all mortgages.
Adjustable Mortgage Rush Isn't the Same as 2008
Loans with floating interest rates are more tempting as the cost of buying a home soars, but it doesn't augur another housing bust.www.bloomberg.com
I had a five year ARM that was ten-year interest only and then turned into a 20-year mortgage, but I knew what I was doing and paid the HELOC (with the higher rate) down like the whole thing was a 30. Because the primary mortgage happened to be tied to LIBOR rather than prime, I ended up with a 2.75% interest rate first mortgage back when you couldn't get that.
Rule of thumb is take what you are paying now, double it and add abit more tory tax on and you will get the sum of what you will probably end up paying.
Add in a property market crash to this, house valuations plummeting 30%, people will genuinely struggle to pass mortgage affordability calculations.
Well, ive done some math, I worked out I could get a loan for the total of what we owe on the mortgage, 7 years, it would be double what we pay now, but we currently have 17 years left.
Seems disgustingly risky, but I just dont know what to do.........
Got to love those outer London house prices.
We currently pay £2050 a month. I’m extremely lucky with my wife and I’s combined income but £2600 would be pretty scary.
I know people who live in central London who have 30 year mortgages where nearly 60% of their payment is interest.
There’s going to be a lot of red faced YouTube financial advisors who have been telling people for years not to repay their mortgages early because it’s low interest debt. People will be totally screwed.
Agree although if interest rates had been even close to what they are today it would have been even more painful for ARM holders.
Like with most things in finance "I knew what I was doing" is the key bit - unfortunately a lot of people realize too late that they didn't think through all the possible variables.
Be careful mate as even if you try to fully pay of your mortgage they have fees for early repayment. Some are well high.
All things like going the match will be going out the window soon. Will cripple all kinds of business just raising mortgage rates.
Martin Alvito
Player Valuation: £50m
My position was more or less that if you didn't work in the industry, you probably shouldn't be messing around with anything more complex than an ARM. In my case, I wanted to leave open the door to grad school (which I did end up doing) and wanted the flexibility of a lower minimum required payment during that period.
Rule #1: always read everything before you sign it. If you don't know whether you have a prepay and, if so, what the percentage penalty is, you violated Rule #1.
Yeah, was just sitting here thinking of the things that will be shed in this new dawn.
900 quid on Everton a year was very high on the list.
As much as I love them, I missed about 6 full seasons when deployed in the military over the years so if I have to watch them on a dodgy stream and boo in my living room then so be it.Yeah, was just sitting here thinking of the things that will be shed in this new dawn.
900 quid on Everton a year was very high on the list.
Imagine one bloke giving a speech causing this much uncertainty. Mind blowing.
Can be 'clever', pay it off to the final £2 then its a penny a month thereafter. Theres ways to use their system.
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