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What do you think the situation with the mortgages etc… in the UK will be like in October? Do you think the rates will be better, and the mortgage companies will have lightened up at all? I’m just asking because i’m with Northern Rock and my fixed rate of 4.89% ends in October at the mo it looks like the best deal I could get is about 6% when I have to remortgage. Also I will be on maternity leave in October which is why i’m hoping they will lighten up a bit, hope that makes sense? I know no-one can fully predict just wondered what peoples opinions were?

2 Thoughts on UK Mortgage Situation Question??
  1. Reply
    Wendy H
    June 9, 2011 at 10:47 pm

    The trend appears to be downward due to affordability.

    Now people appear to be borrowing 5 x their income and its the norm.

    I think its going to go down but only borrow what you need and make sure that your look up what the application fee is as well, as there are some that are charging £500 and others £999 in upfront fees.

    Its the building societies who are not passing on the full drop in the interest rates on to the customers at present. If the interest rates go up too much there would be mammoth problems for millions as people have borrowed so much in comparison to their income.

    Good luck with the baby, by the way.

  2. Reply
    Anil S
    June 9, 2011 at 11:41 pm

    American recession has created a slowdown which has affected the globe. The interest cut will be quite high. The borrowings will be made more smoother to create an affordability so that the economy be commercially viable . Only care is required to be exercised that the credits or loans should be availed according to income span to avoid tension. View the Suzy’s show of US which is quite advocating and alarming for the guidance of the mass.

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