💬 We found a two-storey apartment for £265k and locked in a mortgage at five-year fixed, because I don’t know how long these interest rates are going to keep increasing. We’ll be paying £1,100 in mortgage repayments per month
. I couldn’t do it much earlier though, as I’d been saving for a deposit during these years.
We found a two-storey apartment for £265k and locked in a mortgage at five-year fixed, because I don’t know how long these interest rates are going to keep increasing. We’ll be paying £1,100 in mortgage repayments per month. It’s a scary time to buy but our hand feels forced because we don’t want to stay in our flat and pay increased rent for the potential for the same thing to happen again in the next 12 months.
I’m thinking I should buy now while it’s bad, rather than waiting until it’s worse. Interest rates don’t seem to be getting any better, then seem to be going up almost daily, so we felt we should find a place, get in there, and then at least we know what we’re going to be paying for the next five years of our fixed rate mortgage.
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