Interest rates have gone up again

[oliveoil]

here

The mortgage reckoner bit on that site is quite good/scary.

cant they increase our wages/benefits aswell?

Why oh why didn't I get a fixed rate deal last year? I'm not even going to find out how much ours has gone up (puts head in sand).

We have just remortgaged with Coventry Building Society (completed end of May) capped at 5.99% for 5 years so we won't pay more than 5.99 but could pay less if the rates go down. Free legals and valuation too!!!

Whilst I accept this is not good news and form my selfish position of a very small mortgage i feel that we need to put some reality back into the housing market.
The cost of houses is just getting ridiculous...
My husband has just phoned to tell me that a neighbour of ours had put his 3 bedroomed barn conversion on the market for £890k - fell off my chair!. It is basically a rectangle box with 3 bedrooms, Large living room, study, OKish kitchen(but nothing special), OK size dining room (could sit 8)and 2 bathrooms. Good size garden but no "land". We don't live in a posh part of the UK but in a pretty annonomous county in the midlands - it is mad mad mad.....

jampot we have a capped one from the Coventry too, it is great as has no tie ins. We recently asked for a mortgage holiday for our building work and they gave it to us immediately. They seem really good.

Can't believe they have put it up by 2% though, I'm sure ours is 3.99 and we only took it out last August. Seems rather greedy of them as interest rates haven't gone up 2 points

Try this winahouseforafiver.co.uk{}

I probably shouldn't say this .... but we are those poor potential first time buyers that can't even get our foot on the ladder where we live. Both of us are on average income. We would have preferred to have a daughter in a more secure home, but we don't know how long we would have to wait.
Our only hope of owning our own home is a property crash