We recieved a letter from our mortgage company saying that they were raising the rate by 0.49% .. They said it was because of lending costs, I dunno how they came up with that but when normal businesses suffer increased costs they cut back and maintain prices within their market ... So why can't they sack a few peeps/leaches?

I know 0.49% is very much but it is the thin end of the wedge and we need to protect the public from such moving of rates.

WWW.NOT_HAPPY.COM!!!!

Don't worry Chris, they're all gonna do it. I got a phone call from one o' those mortgage broker people asking about mine, and saying that now's the time to fix as mortgages are about to rise.

I figured they all would once one does it then they will all follow .. they are wankers, and the government are wankers as well, because they are not stopping it.

...so, move and fix with another lender.

Self employed with 1 years of accounts and 3 year contract + 2 years option ... is not enough to change the lender or get a favourable deal ...

Severely stuck over a barrel here the wife was also made redundant a month after me and set her own business up, we both increased our wages by 30% but it apparently amounts to nothing. Life is good but I don't care to give money away to people who have enough, that kind of generosity is not in me.

We have spoken to an FA and he said he would check around to see who would lend to us, that was 2 weeks ago .. surprisingly quiet !

We also need to upsize our house but that can wait until we get an increase in mortgage size, I am tempted to write this mortgage off and live mortgage free but I will lose my credit rating/ existence. We have very little outstanding on this house because my philosphy was get it paid off because the rates can only go up... but in return I was hoping that the BoE rates would increase as well, hence not being very happy ...!

I have only just got the wife to accept that she would have to move from this area to get the amount of rooms and size of house she wants .. I have indicated to her certain nice areas further from London and we seem to be getting somewhere, our budget is good but where we are it won't see you in a 4 bed house! I require access to heathrow airport but 45 minutes down a motorway is fine... we are still working on it.

Take a look at new builds. The big developers will make it very easy for you to afford one of their 'executive' homes. You won't get character but you won't spend 20k doing it up either! 

Pay no attention to the asking price - most of them will drop at least 10k if they see some real interest.

Convincing the wife about new builds is the next step... Compromise doesn't really seem to be on the agenda ! Oh well I found something which was new and she is prepared to do a drive by.

I gave up waiting on what was happening and applied for a new membership at another golf club, which I figured would be in the area where we would move closer to. Now I am waiting to see if I have got in or not .. if not then well I will be a nomad

FWIW If the asking is not too far north of 250k, they may sell you a home below that to save you 3% tax. You make up the difference by paying for all the 'extras' like carpets, tiles, white goods etc.

Bridgey (12.6 and getting worse) wrote (see)

This started happening a few weeks ago, Chris - bloody typical that I've still got about 4 months for my fixed deal to end. Bet they'll go up to shaft me again!

I'd sit tight. They can't go up much, the country is still in a huge mess. B Of  E won't allow it. Enjoy the low rates when your mortgage supplier switches you to the base rate + whatever, but keep  a very close eye open for a good new deal with whoever come up with it.

Jimbow wrote (see)

FWIW If the asking is not too far north of 250k, they may sell you a home below that to save you 3% tax. You make up the difference by paying for all the 'extras' like carpets, tiles, white goods etc.

Unfortunately here they are well north of 250k .. we were looking at buying next door and knocking through but it's still not viable!

We are still discussing it but sitting tight is the name of the game. My wife wants me to have an office in the garden, basically a shed and she wants my present one which is in the loft. The loft office is nice and cosy and completely away from everyone.

I have looked at offices in the garden but we have a rodent issue in the present shed, so it would be common sens to expect a similar issue in the office.. I can't be bothered to deal with that stuff. Also all my toys are in my office and they will be moved out as well ... you can guess then that they are too valueable to be sitting in a glorified shed!

My wife's office is the dinning room.

So you could be kissing goodbye to 10k (ish) tax then. Ouch.

and the rest ... FA was talking about 40k just to move with all expenses etc.. included which reduces the budget significantly. However it applies to one and all .. so nothing can be done about it.