Mortgage rates

[2Dwife]

My broker has given us a rate of 8.1 % and one mortgage broker i have talked with recently said the last 10 days have been brutal and the best they have seen is about 7%. What rates have you seen?

No I don’t. No new written loans are written on LRR correct but some people have them.

not all revert rates are linked to BBR either some and even if they are some have ceilings and floors. A lot of lenders variable rates are linked to an internal SVR which may move with the base rate but isn’t the base rate

No one has mocked any form of mental health
But you are very passive aggressive and don’t seem to be having a normal conversation and accusing strangers of foul, nasty things and being derogatory
If you insist you are well and on top form you are clearly looking for an argument
I however am not, but I do hope you are ok 👍

Maybe it’s one of those just because they’ve been doing things for a long time doesn’t mean they are doing it right?!
maybe they do work in lending - if so it’s a little bit worrying but possibly not from the wording and the strange accusations

Your just digging yourself deeper into your hole. Move on.

How? Think you’re just showing you don’t know mortgages v well.

What wording?

Sorry I was quoting an earlier pp who has 0 deposit before going onto your post. Apologies for confusion

No worries 😌
I looked into zero % mortgages before we got our deposit and it’s for people with really good credit and no adverse do they do exist but quite rare

She hasn't accused you of any foul, nasty things! You asked advice about where a mortgage of 8.1% and you were given advice.

Those interest rates are still incredibly low compared to what they've been in the past. However, it has driven property prices up and forced people to take on bigger mortgages which is a problem when rates go up and fixed rates expire.

She literally used THOSE words of FOUL and NASTY at 12:55 today - I suggest you read the post and get your facts right before you comment

Are you ok? You ask for advice then seem to want to react. In answer to your question - it makes no sense to get a mortgage at nearly 9% over 25 years you'll pay back more than 2.5x the cost of the house!

You just got upset because I corrected some misinformation about mortgages
such as:
BBR tracks the fed reserve rate
Fixed mortgages are based on BBR
all variable rates are based on BBR

then also about the fact I pointed out you have a high PD and there are risks attached to a longer term and lending into retirement, being stuck with your incumbent provider is one.
And then you got upset that a comparison between the rates you’re getting offered from pepper (a heavy adverse lender) isn’t going to be comparable to what other prime customers have on their thread, so there’s no real comparison point

It’s ok I don’t need your advice but thank you anyway - it doesn’t sound very reliable at all
think I’ll stick to most of the other posters help but thanks 🙏

Oh hello! you’re back on my post
aww bless you, if you think that.
Hope you’re ok

Likewise I hope that rates the bees knees and the long term is all you hope and dream and peppers product transfer rates are tasty lest you’ll be looking at c8% for the next 25 yrs

You're welcome! If all you take from this thread is a warning about Peppers predatory lending that would be worthwhile. Google Pepper Finance Mortgage prisoners before you sign! .

True colours coming through

K

It’s like talking to a brick wall with that one but this is exactly what I was talking about.

Pepper offer a long term well into retirement and where they are positioned is an adverse lender so people tend to take them as a short term solution to remo away when they’ve credit repaired. BUT in later life you might not be able to due to outstanding loan balance (made even worse at high ltv) because high street lenders won’t offer the same term, so the rate may be less but the payment may be higher so you don’t pass affordability. So then you have Peppers retention programme and their transfer rates, I don’t know how they’ve structured those products but as product switching isn’t re underwritten there’s a good chance their retention rates are higher than their acquisition rates, hence you end up stuck on either your revert rate (and I’m pretty sure pepper have their own svr) or their PT rates which could be higher than their acquisition rates (because internally they may assume you only stay if you’ve not credit repaired so they have to reflect that risk in their price).

sticky wicket

love a bit of chat - not quite right with your info there 😂

The forum poster is raising a real risk, but they’re expressing it as an opinion rather than a certainty.
The parts I’d say are partially correct:
✅ Pepper is a specialist/adverse-credit lender. Many borrowers do use lenders like Pepper as a stepping stone and later move to a mainstream lender once their credit profile improves.
✅ Age can become an issue later. If a lender gives a very long term because of affordability, it doesn’t automatically mean a future lender will offer the same term. Some lenders have stricter age-at-end-of-term rules than others.
✅ Product transfers are usually easier than remortgaging. Pepper offers product transfers for existing customers without new affordability or credit checks if eligibility criteria are met.
Where I think the poster goes too far is:
⚠️ Saying you’ll end up “stuck” with Pepper is incorrect
Nobody can know that in advance. It depends on:

• Your credit file in a few years.
• How much equity you’ve built up.
• Your ages at that point.
• Income and affordability rules at the time.
• What rates are available in the market.

Some people do remortgage away from specialist lenders successfully; others stay and take a product transfer. There’s no way to know today which camp you’ll be in.
Looking specifically at your situation
Your circumstances are actually different from the example the poster is talking about.

This is the problem with large language modulators and AI everyone thinks they’re an expert because they can google something.

maybe ask your digital assistant if lending into retirement means an increased PD and what that means?
if high ltv means an increase LGD and what that means for the lender and your rate
and what happens when you triple stack risk?

And then for your knowledge
might as well ask what fixed rate mortgages are priced on
and if all variable rates are priced to BBR
might as well ask if it’s a sensible comparison to compare a high street rate with a rate offered by the likes of pepper - that might’ve saved you the trouble of this thread.

I also said I don’t know how pepper price their retention, I don’t know if they get any bureau info on credit score to offer a risk based pricing model or if they have ltv differentiated pricing. Some specialists have a one size fits most policy which means a higher rate on PT then acquisition because they assume those who credit repair leave. Might be pepper might not.

Your chatbot has also said it is a real risk which it is and I said it is a risk not a certainty because you and your husband/ partner could have absolutely amazing health and you could get a massive lump sum, huge pay rises and you might be able to deal with a shorter term offered by a highstreet lender when you fully credit repair. Stranger things have happened. I also said I don’t know your circumstances only you do and apparently chat gpt. So you’ve misunderstood/ misrepresented what I said.

I was just highlighting a risk that you should go into eyes open rather than just super defensive. No one said you will end up stuck with Pepper but that it is a risk, hopefully you won’t and In 5 yrs you’ll zip off to nationwide or whoever on a 15 year term with a 3% rate.

25 years

In other news the BOE is riding (a donkey) to the rescue again, they are determined that debt takers up and down the land will be saved to borrow another day!

https://www.theguardian.com/business/2026/sep/17/bank-of-england-bond-sales-plan-gilts-treasury-public-finances

Delusion