Cost of living: Your housing and mortgage questions answered

Mortgage expert Joe Bartlett your answers your questions about house prices and mortgages in these economically chaotic times.

#mortage #costofliving #crisis #government #lending

[jdubbleu]

6:25 “Houses are for living in, they’re not for bartering, they’re not financial instruments” 🤔

[thesaltycabbage]

My current mortgage finishes at the end of October, Thank God I remortgaged in August at 3.3% fixed for 7 years.

[tonymak]

The art of answering but not answering a question

[natashaelliott]

We needed someone that had been through the 2008/2009 crash so we could get an informed comparison.

[irishsummits]

Hard to overstate how pointless this interview was. Martin Lewis he ain't.

[oscar]

The interviewer was giving more info than the interviewee.

[andrewgreen]

The only real advice that will work is "get rid of the Tories"

[adama]

Our neighbour´s fixed rate from 2 years back is about to be broken just like your electricity fixed rate deal!

[paulmasonsjazz]

A couple of decades ago we had double digit inflation and we personally had a mortgage at 14% interest rate. We did not expect or receive government or any other support. The result was eventually a long period of stability at lesser rates. Surely this is now redressing the balance as interest rates have been too low for too long. Also bear in mind that more return on capital or savings is a good thing, as there are more 'savers' than people with mortgages. Plus most mortgages are on fixed interest loans not variable I understand. It is time action was taken to correct a situation that has been allowed to drift for too long.

[willrobertsmith]

15% interest in the 80's and 90's was probably cheaper than 5 or 6% now due to today's insane property prices, longer mortgages and the much higher levels of public debt in general. Think the presenter and expert (who started 2015) both missed this point.

[freshiG]

The word comes from Old French morgage, literally “dead pledge, ” from mort (dead) and gage (pledge). Pay till death.

[JohnnyWitney]

I am a UK citizen in the States.
I locked into a 30 year fixed rate of 3.125% 15 months ago.
Rates are based here primarily on your personal credit rating.
Good credit rates as of today here for a 30 year fixed rate is 6.05%
Shorter length fixed rates are lower.

[MaroonedInDub]

Eenee meenee minee mo. Should I stay or should I go? If I go there will be trouble. If I stay there will be double ...

[firstnamelastname-jkqe]

what was the point in asking these questions when he just sat on the fence

[loukwo]

The banks always add risk, inflation elements in the fixed rates. I have ended up paying double the market rates for 20 years.scary!

[georgesotiriou]

Is this a comedy sketch? The guy is more vague than... I've got nothing.

[jasbindersingh]

If mortgage rates are two per cent odd above whatever the government is paying on its debts- currently 4.12 per cent on its 10 year iou, presumably mortgages - most of them will be at least 6 per cent . This time last year it was 0.68 per cent - meaning mortage rates 2 to 3 per cent.
Amazing what rates thw government, and therefore mortgages are going for if the bank of England is not faking government interest rates like they have been since 2009
What a pleasant change it is..
14 yrs of artificially lowering the cost of government debt, and therfore with it mortgage rates - and with that pumping up home prices.
Don't ever remember getting to elect the governor of the bank of England

[tomstory]

As a first time buyer should I buy now or wait?

If so, how long to wait?

[JoshHarmez]

Fixed rate is currently close to 5% across the board, stopping people fixing part of their loans

[TavernMasterAndy]

Cutting edge analysid... "houses are not financial assets". Regardless the marketd are on the flop and interest rates are sky rocketing. 5% base rate by october end. Heard it here first.