Gransnet forums

Legal, pensions and money

Page 1 of 1
Flip | Customise

Old papers just discovered.

(6 Posts)
Add comment | Report
Grannybags Tue 04-Aug-26 16:58:58

We bought our first flat in 1975. The bank wouldn’t take my wages into consideration towards the mortgage as I was “only”a woman. We could borrow 3.5 times my husband’s salary (which wasn’t much!)

I remember at some point the interest rates reached 17% once I was a SAHM

Add comment | Report
crazyH Tue 04-Aug-26 16:50:38

We bought our first house in 1976, for £13000. I’m almost sure the interest rate was 13%

Add comment | Report
Toetoe Tue 04-Aug-26 16:40:30

Sorry I should have said 1988

Add comment | Report
Toetoe Tue 04-Aug-26 16:33:23

In 1998 I think mortgage interest rates reached 15% or there abouts . Am I correct ?

Add comment | Report
YorkLady Tue 04-Aug-26 16:18:40

I have a file from when I worked at a Bank and applied for a mortgage on our first house. This was in 1979. It was a 2 bed semi for £11,500. I was only granted the mortgage if it was in my husbands name 🙄.
I can’t remember the interest rate but it was at staff rates….4% sounds correct.

Add comment | Report
Usedtobeblonde Tue 04-Aug-26 13:51:24

I am doing a mammoth clearing out and this morning discovered a whole file of papers relating to the purchase of this house.
My H hoarded papers.
We bought it in 1976 for £16,500.
We took out a mortgage for £9000, it was the third house we had bought so had a substantial, in those days, deposit.I can’t find the amount of the mortgage but did find one letter saying the mortgage rate was rising to 12 and three quarter per cent.
I wish I could find out my H’s salary then.
I was a SAHM.

Page 1 of 1
Flip | Customise