SURVEY - OK I know I am harping on today but humour me - IF mortgage rates hit 15% again would you be able to pay the mortgage and still pay bills, food etc.

[CountessDracula]

yes or no would do

Calculator here

Not asking for any figures of course

yes (as our rate is fixed for next 3 years).

Only with us both working I think.

You could say what %age of your income your payments would represent if you like

nonono
ignore fixed rate
hypothetically if it happened tomorrow and you had to be on that rate

BASED on your CURRENT circumstances

Assume no new jobs to be had

You're obsessed CD! If rates hit 15% and our rent stays the same, we'd be fine. If our rent went up by 15% we'd be fine. If our rent doubled, we'd be fine (not on one salary though).

er that would be a big fat NO and I would definitely have to go back to work full time, which would cause a huge strain!

Well, I have already secured a job to start in November. Will you let me off. Contracts signed and everything!

Yes we couls as long as I go back to work fulltime after maternity leave.

Could probably just manage it, but there would be nothing left for luxuries. That's providing I find another job as I'm losing half a week being made redundant.

for a few months yes, but not as an ongoing thing ..

Only by dipping into (meagre) savings

Good God no way
It would go up to £2622 a month

yes but that would be 100% of our income including child benefit so we couldnt eat or pay anything else

i already work p/t

i could theoretically work f/t nights and then look after my children in the day

thats assuming there would be any night jobs ofcourse and i imagine if interest rates are at 15% then there will be crappola economy and no night shifts to be had

we have house on market and hope to sell asap then we plan on renting the smallest cheapest place available and saving like mad so as never to be in this gawd awful position again

no
we'd prob have to move (have big mortgage in london) - we do have cardiff in mind if we had to...

yes, just

Yes - we have budgeted that we can survive for a year even if DH gets laid off. (actually I havw no idea about money - DH has budgeted I should say!)

not at £4,324 a month (well we wouldnt be eating thats for sure)

No. We would be destitute

the 4324 is what it would be, not what is now soz

OMG that is terrifying - ours would more than double.

We'd manage but it wouldn't be any fun and there would be lots of adjustments to be made.

We do not have the equivalent of the extra that would be just sitting around in our account at the end of the month, put it that way!

I would adjust absolutely everything I could before I'd lose my house.

no, but there are options, rent out a room, switch to interest only, sell stuff, sell the kids, sell dh, every little counts!

and we'd all be DOOMED if they rose to 50%.....

What evidence is there that interest rates are going to get anywhere near 15%?

and wicked waterwitch is right - you are OBSESSED today!