Mortgage rates

[gisselletdean]

High mortgage rates mean affordability is still "stretched" for many home buyers, according to the Nationwide.

The building society said that while earnings had been rising faster than house prices in recent years, this had not been enough to offset the impact of more expensive mortgages.

As a mortgage provider do they buck the trend and offer lower interest rates? Or do they maximise earnings by charging as much as all the other lenders?

Hardly an independent view of the market making claims they may well be contributing to.

[capabilitieso]

On the other hand if they said you can only have 3 times your salary. Rather than just upping the amount you can have and extending the term some are 35 years now. House prices would soon come down to match the amount of money there was to buy them.

[OliverShultz]

I went through a similar experience when my family and I were looking for some property a few years ago. We were hoping to find something reasonable for a cabin, but everything was either overpriced or needed way too much work. We ended up considering a property that needed a lot of upgrades, and the cost to fix it up was more than we expected. At one point, we even looked into a hard money loan to make it work—sometimes those can be helpful if you’re trying to secure something fast and get the ball rolling.