As long as you're not interest only you're payments could balance

As you're paying less £ in interest on the balance regardless of the rate?

I'm also 6 months into a new 5 year fix which seems prescient but I'd come out-of a 5 year and was tempted to stay variable with historic low interest rates as I felt there was a chance I'd sell with the 5 years

Posted By: trafford_canary on June 27th 2022 at 09:16:55

Message Thread

Inflation (General Chat) - SimonOTBC, Jun 27, 08:44:53
- Inflation is a disaster (General Chat) - matgore, Jun 27, 11:57:29
  - I'd thought Simon was really limiting the lens to the individual circumstance (General Chat) - trafford_canary, Jun 27, 12:31:47
    - It can affect individual a lot (General Chat) - matgore, Jun 27, 12:43:37
- Depends if you are an "average" person I guess? (General Chat) - trafford_canary, Jun 27, 09:14:29
  - Yeah - we’re in a fortunate position of not having overstretched (General Chat) - SimonOTBC, Jun 27, 09:22:09
    - *if you’ve got a lot more debt than savings (n/m) (General Chat) - SimonOTBC, Jun 27, 09:30:03
      - Yes definitely. I am very lucky (General Chat) - trafford_canary, Jun 27, 09:33:42
- High inflation is a disaster (General Chat) - paulg, Jun 27, 08:59:03
- As I is well old grandad innit I remember back in the 70s (General Chat) - Old Splat, Jun 27, 08:53:19
- What will interest rates be in 4 years time? 😬 (General Chat) - SCC 28, Jun 27, 08:48:28
  - As long as you're not interest only you're payments could balance (General Chat) - trafford_canary, Jun 27, 09:16:55
    - So long as you’re not downsizing you can port your mortgage (General Chat) - SimonOTBC, Jun 27, 09:20:31
      - Yes this is very true!! I KEEP forgetting that (General Chat) - trafford_canary, Jun 27, 09:24:53
        
        👍 the only downside is you’re stuck with the same lender (General Chat) - SimonOTBC, Jun 27, 09:29:35
  - Banks don’t seem to be forecasting a long term rate hike (General Chat) - SimonOTBC, Jun 27, 08:50:22
    - GTFI (n/m) (General Chat) - SCC 28, Jun 27, 08:53:37
      - Also.... (General Chat) - SimonOTBC, Jun 27, 08:55:38
        
        Mentally ticking off the days till the 30 hour free childcare comes in (General Chat) - trafford_canary, Jun 27, 09:20:33

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