Spooked about moving house now

[Ziga]

Is now a crazy time to buy a house with mortgage rates? Scared about the move we’re just about to commit to…

Well are you a first time buyer or not?

If you are, I'd go for it and just save what extra you can.

Nothing is going to get cheaper.

Well much like the Truss mini budget debacle, you'll be spending more now than you would have done three months ago. Would you be spending more on rent than the proposed mortgage if you don't go ahead with the sale? Would you rather look back in six months at the equity you've built up in the house you now own rather than look at the money spent on rent?

Everyone's finances and appetite for risk are different, but you'll be on the property ladder and you can always hedge your bets with as short a fix as possible on the basis that rates will come back down again.

I never really understand this fear. You need to live somewhere and if the market crashes you will be in the same boat as millions others. No time like the present.

How much have your monthly repayments risen by?

There's never a perfect time. Rates can always go down tomorrow. We bought right int he middle of Liz Truss debacle. Is it the right time for you and the right house. In the longer term home ownership makes sense.

Thanks all for your thoughts.. our current mortgage is 2.9% so we’re obviously on a very good rate and about to jump up to a not so good one! Agree there’s no perfect time to buy though.

A few months ago I was kicking myself that we’d entered into a five year fixed rate a couple of years ago. Not now looking so daft.