Re Mortgage shopping?

[Rob Fzs]

[Nobby the Bastard]

There's no way of predicting boe base rates and that's what your variable mortgage.rate depends on.
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trevor saxe-coburg-gotha:"Remember this simple rule - scooters are for men who like to feel the breeze on their huge, flapping cunt lips."
Sprint ST 1050

[ThunderGuts]

No I think the question is what effect a BoE base rate change has on fixed rate deals? In which case, no there's no hard and fast relationship because of the volatility. The Banks basically want to try and build in the risk to the fixed rate offering so they don't end up worse off. That's why the rates went north much faster when Kwarteng did his mini-budget - the uncertainty meant they wanted to give a bit of comfort to themselves. Right now, there's a general perception the rate rises will peak next year. Because there's a slight improvement in perceived stability, and the previous rate change (and volatility at the time) created an extra margin of built-in risk, I get the feeling it's not expected the fixed offerings will necessarily change much, if at all, on the back of yesterday's rate change.
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TG.

[Ribenapigeon]

[Polarbear]

Not trying to disrail the thread at all but can someone answer me a question. What is the point of an interest only mortgage? I just watched a programme on the housing fcuk up that is the UK and a woman had bought her house, 10 years ago on an interest free mortgage. She was now having to sell it due to interest rate rises and now has to pay back the full mortgage and get very little from the house. Seems kind of stupid to me.

I suppose as a landlord you could make money on renting it out and then sell the house at anythime hopeing that house prices have gone up but it doesn't seem to be that financially beneficial unless the interest rates stupidly low. It's ort of like leasing a car and I've never really got my head round that either.

Edited to add - Could it actually work out as cheaper than renting and potentially building a nest egg with the prices of houses rising?
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Triumph Trophy Launch Edition

[Nobby the Bastard]

You are supposed to pay into an ISA (used to be endowment policies) at a suitable rate to clear the initial loan at the end of the mortgage. In reality, the ISA (or endowment policy) is the first thing to go when things get tight.

In most cases, even when this occurs you generally end up with some equity because the house market generally goes up and only goes down temperarily.
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trevor saxe-coburg-gotha:"Remember this simple rule - scooters are for men who like to feel the breeze on their huge, flapping cunt lips."
Sprint ST 1050

[Rob Fzs]

[Ribenapigeon]

[Polarbear]

[stinkwheel]

[Pete.]

Trouble is, back in the day people used to consider endowments as almost a sure profit-making thing, that they would be able to pay off the mortgage at the end of the term and have a nice little nest-egg to boot. Of course it never was (though times were better in those terms) but no seller would paint a black picture or there's be no comission for them.
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a.k.a 'Geri'

132.9mph off and walked away. Gear is good, gear is good, gear is very very good

[Nobby the Bastard]

Wot Stinkers said, but I do know of people who stopped paying the endowment years ago because divorce and not being able to pay it, continuing to pay the interest and then grabbing the equity and buying a smaller place in a less popular part of the world. She went to Bulgaria or some such place because she liked it there but there again she got a lot of equity because Bath prices are fucking rediculous these days.
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trevor saxe-coburg-gotha:"Remember this simple rule - scooters are for men who like to feel the breeze on their huge, flapping cunt lips."
Sprint ST 1050

[JordanFinn]

I see it’s been a while, but I’d like to chime in. First, make sure to compare interest rates from different lenders. Look out for any additional fees or charges they may have hidden. It's also worth considering the customer service and reputation of the lenders you're considering. Finally, don't be afraid to negotiate and ask for better terms. But the best decision is to reach out to an expert like Mortgage Broker in Weston-super-Mare. They can provide you with valuable advice and guidance, helping you make informed decisions and find the best mortgage options and products available. Their expertise and knowledge of the market can be a game-changer when it comes to securing the ideal deal.[/url]

[Easy-X]

[Ribenapigeon]

[Easy-X]

My local AI:

"Glad to be of service. How can I assist you today?"
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Husqvarna Vitpilen 401, Yamaha XSR700, Honda Rebel, Yamaha DT175, Suzuki SV650 (loan) Fazer 600, Keeway Superlight 125, 50cc turd scooter

[Ribenapigeon]

[Easy-X]

You say enslave, they say co-operate This is already happening: super-prompt your favourite language model AI to super-prompt an image generation AI for superior results.

What will happen is your personal AI (which is a shadow copy of your own ego) asks you what sort of film you want to watch tonight. "Comedy..." and it goes off and chats to a commercial script writing AI about the sort of things you like and your sense of humour. It takes the script to the virtual actors guild and picks out that bird with the big jugs it knows you fancy, feeds all that to a cinematography bot and the result is your own personal feature film, AAA+ quality that it knows you'll really have a hoot over.

And it'll do all that in the time it takes to blink
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Husqvarna Vitpilen 401, Yamaha XSR700, Honda Rebel, Yamaha DT175, Suzuki SV650 (loan) Fazer 600, Keeway Superlight 125, 50cc turd scooter

[DoubleJarre]

Tip: Compare rates like a pro, online tools are gold! Watch out for sneaky fees – those can be deal-breakers. Remember, it's like finding the right bike – test a few, go with the comfy fit.

[Ribenapigeon]

[Rob Fzs]

[stinkwheel]

[dunwichguy]

I agree, the idea of AI in various roles is intriguing, but let's not forget the human touch.

[Ribenapigeon]

[A100man]