Gasp!! (Follwed swiftly by *faint*)
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Category: General Chat
Forum Name: General Chat
Forum Description: For mums, dads, parents-to-be, grandparents, friends -- you name it! And you name the topic you want to chat about!
URL: https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=12551
Printed Date: 02 October 2025 at 1:13am
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Topic: Gasp!! (Follwed swiftly by *faint*)
Posted By: ginger
Subject: Gasp!! (Follwed swiftly by *faint*)
Date Posted: 26 November 2007 at 2:33pm
Current mortgage interest rates ...
 
We have to refix next March, so I just hope that they don't go any higher!! I've been head-high in budgets and projections and general lists etc for next year for the past week, and it's really quite scarey. I feel completely stupid for saying I don't know how we're going to manage, but I'm worried. Perhaps the fact that it all looks completely evil financially means that IVF will work first pop? 
I'm re-embracing anti-consumerism indefinitely, that's for sure! ------------- Cuinn Lachlan 23.1.09 - 22:00 Antonia Helene 4.8.11 - 09:41 |
Replies:
Posted By: fattartsrock
Date Posted: 26 November 2007 at 2:55pm
I was actually thinking about starting a post for you a couple of days ago after reading about SS and wondering how your anti consumerisim was going...
Mortgage rates are sooo sky high, I'm glad we fixed a while back and don't have to think about it for a while longer, and our mortgage on both our home and business is smaller than most people's home loans..(for now, i'm busily looking at new homes *in case*) ------------- The Honest Un PC Parent of 2, usually stuck in the naughty corner! :P |
Posted By: ginger
Date Posted: 26 November 2007 at 3:08pm
I'm shocking for buying in bits and bobs for stuff, and not adding up the bits and bobs in the middle Annie  That's my first anti consumerism goal ... no more buying in bits and bobs!
We were dopey - we fixed for 2 years because we listened to the projections that mortgage rates would start falling at the end of last year, but instead they've just gone up and up and UP
Our mortgage isn't too bad, I don't think, compared to some of our friends' mortgages and our ages, and the area that we have a house in. I do feel ill though embarking on the renovations! It's a bit late to pull out though ...  ------------- Cuinn Lachlan 23.1.09 - 22:00 Antonia Helene 4.8.11 - 09:41 |
Posted By: fattartsrock
Date Posted: 26 November 2007 at 3:27pm
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im a bits and bobs spender as well, especially bad at "popping" into the supermarket and spending $35 on "milk and bread"...grrr. Was really bad at this when in the grip of wedding fever...good job thats done and dusted. Been going to couplands for milk etc instead now, it helps a wee bit, but, hell, I'm baaad.
Yeah I feel lucky about our mortgage as well, but we are talking about extending it a bit to put a pool in, and that scares me a wee bit...hence the "looking" at other places - well, if you're gunna extend the mortgage, you might as well look and see if there is something you like with a pool already, aye? ------------- The Honest Un PC Parent of 2, usually stuck in the naughty corner! :P |
Posted By: ginger
Date Posted: 26 November 2007 at 3:49pm
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My brother's a builder, and that's pretty much what he said to us - if you're going to spend $30,000.00 on renovations, why not see what's on the market with everything done already? Turns out, it was a MUCH better idea to do the renovations! We would have had to pay about $150,000 more than we paid for our house to get a similar place with everything done So, in that context, $30,000 doesn't look so bad ... ------------- Cuinn Lachlan 23.1.09 - 22:00 Antonia Helene 4.8.11 - 09:41 |
Posted By: Lulu
Date Posted: 26 November 2007 at 5:40pm
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Don't forget if you are not going through a mortgage broker you should be able to negotiate a lower than advertised interest rate directly with your bank. They pay the broker a commission, so there is room for negotiation if you are dealing directly. I tried this and got a couple of points off the advertised rate. It all adds up. ------------- Lou http://www.babysfirstsite.com"> 
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Posted By: AnnC
Date Posted: 26 November 2007 at 5:45pm
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I work in a bank and see the rates everyday and think eekkk... I do hope by next november they have come down a bit (thats when our big mortgage is coming off fixed)
And the banks don't know the rate till it comes out either so no insite there either... ------------- Ann 
Also Mum to Josh (15) and Brooke (10) |
Posted By: peanut butter
Date Posted: 27 November 2007 at 6:50am
I second that. We have to refix in October next year. I saw ASB advertsing 9.25% fixed for 2 years and said very loudly (and not abbreviated) WTF!!!!!
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AnnC wrote:Posted By: MILF
Date Posted: 27 November 2007 at 8:34am
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EEK! when did they go up? we have to refix in march, and i am not looking forward to that at all :faint: might have to stop being a lady of leisure and get a job if it carries on! ------------- Lyla - mum to Xanthe -  my big 4 year old 
and Jordis - 1 year old 
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Posted By: ginger
Date Posted: 27 November 2007 at 8:54am
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That's what me and DH have started thinking - depending on how it goes, I may not get to be a SAHM. But then, I have a job at the mo which may allow me to work a little bit without taking too much away from our plans for me to be at home.
Thanks for the suggestion Lulu - I might try that. We're with Westpac, and have Redpac, so they're a bit tricky. With Redpac, you get 2 points off the mortgage rate, but you pay $25 per month for it. So, they tend to argue that you're already getting 2 points off ... hmmm! Cheeky poo! I saw the advertising by ASB too nzpiper - perhaps we'll have to shop around when the time comes. Westpac's rate for 2 years is 9.4! ------------- Cuinn Lachlan 23.1.09 - 22:00 Antonia Helene 4.8.11 - 09:41 |
Posted By: SuziE
Date Posted: 27 November 2007 at 9:10am
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Im glad we fixed at 5 years, Im really hoping that things settle down by the time they are due ...
And ginger I'd definitely try Lulu's suggestion, if the bank want to hang onto your custom then they should cut you a deal to save you going anywhere else ... they have done that with us in the past :) ------------- http://lilypie.com"> 
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