Interest Rates

[Bullsgold]

You might be dead in 5 years Nicey.  Or have moved to the U.S. 

Meanwhile your mortgage is getting smaller and smaller versus wages and other costs thanks to inflation.

Live for today. You might also find you don’t really want to retire early

My interest rates have plummeted.

I have literally no interest in anything any more.

[Mr Nice 2.0]

You might be dead in 5 years Nicey.  Or have moved to the U.S. 

Meanwhile your mortgage is getting smaller and smaller versus wages and other costs thanks to inflation.

Live for today. You might also find you don’t really want to retire early

Yes, i'm leaning towards living for today.

I think i'm gonna spend the next 3 or 4 years spending my spare money on some big adventures.

[Baldman]

There was a lot of competition over the summer with lenders trying to undercut each other. You've experienced the correction unfortunatly.

I was pleased to see I could remortgage with my current lender on a 5 year term for 3.75% (60% LTV) recently. Not that I need to remortgage for another 3 years. And my LTV is not under 60% either. But, it does show how if you can get you LTV down then companies will make decent offers if you stay with them. I'm more hopeful of being able to remortgage at nearer 3% than 4% in 3 years time than I was. Though, as Baldy says, world events can change things quickly.

Longer term rates have gone higher. The 5yr has gone from 3.6% to 3.8% over the last month. This is a reaction to the likelihood of quicker rate cuts from the BoE. There is a concern they cut too fast and lose control of inflation. The 10yr is back above 4%

[NWS]

I got my official mortage paid off bit of paper last week.

Keep them nice and high I say.

Yay🙌

Life is done

[NWS]

Nice.

I'm going back and forth trying to decide if I should over pay loads and try and get mine shifted in the next decade. Or, just sod it, pay whats due, then and wait until i'm 58 and can take a lump sum from my pension to pay it off.

The first option means less fun now, but earlier retirement. The second option means more fun now, but working longer. And, of course, pension pots tax status may be about to change.

Good luck. I've just started upping my payments to try and avoid large payments up to retirement.

I've still got 4 years of a 2.49% mortgage. Foresaw the Tory inflation problem

[Bullsgold]

Good luck. I've just started upping my payments to try and avoid large payments up to retirement.

I've still got 4 years of a 2.49% mortgage. Foresaw the Tory inflation problem

How's everyone going to feel about paying for my council house when I'm 70?

Retire to a nice little estate. Hopefully the kids will be all clever and miles away from me.

Looking forward to it in expectation!

[Ste B]

You're moving away from Bamber Bridge?

I’m moving to be closer to the Southport - Manchester train line.

I had ideas of getting the train to the football and having a few pints, but the grounding of HMS PISS THE LEAGUE has spoilt that a bit.

[Massive Bereavement]

Yes, i'm leaning towards living for today.

I think i'm gonna spend the next 3 or 4 years spending my spare money on some big adventures.

I keep telling myself to do the same, Nicey. Need a change of mindset.

The plan was to retire at 50, but then half the world got doped on furlough and everything doubled in price so that's been put back to 55.

I've spent years topping up the pension to give me the financial edge in retirement, but I'm not sure that will ever come to pass. I've seen how utterly batshit UK plc has become since I started work in the 90s. Personal responsibility has been ceded to the state so I wouldn't be at all surprised the government just gives those who've not paid in a penny the same big fat pension anyway. 

And I'll wake up on my first day of retirement and realise that the previous 35 years were a complete waste of time.

[Fola Onibuje]

I’m moving to be closer to the Southport - Manchester train line.

I had ideas of getting the train to the football and having a few pints, but the grounding of HMS PISS THE LEAGUE has spoilt that a bit.

I'm saying Parbold and it's a hill I am willing to die on.

[Baldman]

I'm saying Parbold and it's a hill I am willing to die on.

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