UK Landlord Forum / Life

Source: http://business.timesonline.co.uk/tol/business/economics/article2681740.ece

"The Bank of England is now actively discussing whether to cut interest rates, official minutes from its Monetary Policy Committee show.

Experts said that the mood of the rate-setting MPC was shifting towards a cut after the Bank's official minutes revealed yesterday that the issue was debated at its October meeting and one member voted in favour of a cut"


Fingers crossed, rates will drop- that would suit me just fine!!! If it happens, won't more people start buying?

Not sure ... but shouldn't this be in the finance board?

Its the inter-bank rate that really counts anyway, which I didn't realise until all this recent nonsense with sub-prime.

But yeah, if you can find a way to drop the rate down to what it used to be that'd be cracking. My mortgage switches to repayment next year and if the rate keeps going up like this I'm going to have to cut back on my creature comforts.


V

I'm with you on that! I have one variable rate mortgage and one fixed. The fixed one kicks into variable later next year!!

In September 2003, interest rates were at 3.5%.

http://www.propertyinvestmentproject.co.uk/interestrates.php

Man, they were the golden days for consumers!! I wish I bought a property back then, on a 10year fixed rate or something.

How did you manage to get TWO mortgages pfag, Did TWO of you get them in one name or did you get buy to let etc.



Badger

You can get as many mortgages as you want, I believe. I just think there's a limit to how many "repayment" mortgages you can get!

Thought 2 was the limit, ok homework on this one i think



BADGERMMOPIOH

Let me know what you find out!

But i'm pretty sure you're not limited to 2 mortgages!

A lot of people just don't declare their actual situation. My broker said it's not uncommon for people to get normal repayment mortgages and then let their properties out (interest rates are generally lower that way). Of course, if your lender finds out, there could be trouble. However, lenders rarely find out...

Basically, my broker said so many people get away with stuff like that. The lenders won't sniff around unless you're not keeping up with payments.

AS long as they get their money eh!,
But but there are other people who know, um the water board etc, the best way to find multipal morgages



Bapigybl

Utility bills are under tenants names...

Water shouldnt be !

I don't have any utility bills under my name!