What do you think will happen to mortgage interest rates? Wth the

[PeepsAndSheeps]

What do you think will happen to mortgage interest rates? This is my first time having a mortgage during any type of a financial crisis. They've been going up recently, I assume that's set to continue?
Is there a point at which they can't go any higher? I know there were interest rates of 14/15% in my folks day.

@Starseeking I hope your mortgage goes through for you.

Ours is 1.89% with Loyds, it is a slow process but they've taken the product fee and the valuation has been conducted so I'm hoping they can't back out now.....

Does anyone know if that's the case?

I played with a mortgage calculator the other day. When I had a fixed rate mortgage at 7% I paid £527 a month. On today's rates that would be £333. That was endowment though, can't get those now.

If they hit 7% I think we’re all screwed. We would be anyway

Not necessarily, I guess many banks would entertain requests from their clients to pay only interest until things stabilise.

Not an ideal solution, but probably a better one than loosing the house/downsize at a higher cost.