With bigger mortgages, clients get more nervous about interest rates. The easy way to solve this is set your repayments based on a mortgage rate of 8.50%. By setting your repayments higher, you will initially pay the mortgage off faster. When mortgage rates eventually increase your repayments do not need to change
With fixed rates having increased we once again look at mortgage strategies, but nothing has really changed from our previous recommendations. It is all about having a clear strategy and not wavering when confronted with irrational market panic!
Having done over 1,500 mortgage reviews in three months, we thought we should analyse some of the data (without going overboard) to see what it told us
Mortgage rates are forecast to bottom out around June 2009. Short term rates could get as low as 5.50% with longer-term rates getting down to around 6.00%-6.50%. In my opinion that means taking a six month fixed rate now at 6.50%-6.90% is the best option. In six months you can then look to split your mortgage into multiple fixed rates and spread them over 3-5 year fixed terms
most recent posts
-
Risk with houses built before 1945
January 28th 2012 -
Mortgage Rates: Let the Summer Craziness Begin
January 28th 2012 -
Growing your Property Portfolio
January 28th 2012 -
Waterview Connection | Implications for Property
December 4th 2011 -
Property Investing: Is Big Better?
November 20th 2011