www.iva.co.uk

Just found this in the Guardian. Is this just trying to drum up some business or could things be on the up in the near future ?
http://www.guardian.co.uk/money/2009/ma ... rate-deals

I think it is a bit to early for the rates to rise yet. However, by the end of the year, i expect the rates to start rising. I personally believe they will go up during 2010 rising steadily.
Strange as it seems, but i feel this is the only way the banks will lend money is if the interest rates are higher. This is only my personnal opinion and i have no indepth knowledge to back it up. Just call it a hunch.
Time will tell what happens, but they sure aren't going to stay where they are for long.

Personally I think they'll go up around September this year - our fixed rate ends then and we not lucky enough to get a low rate!

Interest rates up means 'Recovery' as they tell us...however no one wants it as then mortgages go up.First time buyers shunned.So what does people want?? Its one or the other.Wages are cut,pay increase curbed in the meantime.

Thats why all this economic stimulus talk is just rubbish.A big lure and hoax to spend taxes on anything but people.Its only for the rich to get back on their feet.

Do you ever think positive Newdeal? I thought I was a glass half empty person but you beat me!

You have to look at it logically, rates are never going to get better than they are at present.

Lenders make money from lending at rates that are preferential to themselves not by loaning out monies at low rates.

The general consensus in the marketplace is to fix your rate now if it`s at all possible because from where we are now there is only one way to go. Tony

I don't think they will go up anytime soon. The economy is not due to start picking up yet.

I wish you would cheer up as well NewDeal - you always seem to be very negative.

That is good advice from Tony. My own mortgage is due for renewal this October, and I am already shopping around for the best fixed deal.

We won't be able to get a fixed rate with hubby being BR so hope they don't go up too much.

Anyone who can though should start thinking about it.

Do people in IVA have a worse off deal when it comes to shopping around for fixed rates on mortgages?

I think a lot of people will find it difficult, but people in IVA's may find it harder than most as your credit rating will be shot.

It should not be a problem so much if you stick with your current lender. They ought to be able to offer you most of the range of their available products.

I've noticed a lot of the fixed rate deals need a minimum 25% deposit now, and I'm not sure we've got that now.

If we were to stick with our current lender would the 75% LTV still apply, or would we be more likely to get a fixed rate?

Melanie is correct in that by staying with your existing lender they will have a portfolio of different products and allocate the most suitable and available one(s) for you.

Of course by staying with your present lender the fee element is greatly reduced, which is a saving.

Welsh Boy is correct that it is reasonable to expect that interest rates will rise from their current position. However it is not expected to happen until another 18 to 36 months from now.

We can also expect to see some effects of quantitive easing within the mortgage market place. At present it near impossible or punitive to get a mortgage with anything less than 25% deposit (75% LTV). However the recent financial stimulus (especialy for banks) will be increasing the number of mortgage players at this end of the market, which in theory means more competative rates for those in the 75% to 90% LTV range.

Fortunately (or unfortunately depending on your point of view) I don't think we can expect to anyone get a mortgage without a minimu of 10% deposit in future.

I think Welsh Boy has hit the nail on the head, try to get a decent fixed rate for the next 5 years. However if you are in the 75% to 90% LTV range then it may be worth waiting a further 6 months before tying yourself in.

Cheers

Andy