Mortgage Rate Rises

eddie101 said:
Only had a mortgage for the last 8 years or so and currently on a 5yr Fixed from last June at 2.09% with Natwest. (Lucky eh!)

For the first time in those 8 years, my bank (lloyds) has called me twice in the last week trying to sell me a remortgage. Think they've got quotas to hit...
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I've had pushes from banks trying to sell Mortgages too, which I've never seen before as well.
 
Mercenary Keyboard Warrior said:
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Having been and seen the nursery vs home schooling side, I am pretty convinced that nursery is better for all but the most effective parents in regards the pre school education.
When we talked to schools their main issues in regards being ready for school came from those who hadn't been to nursery.
I think this was partly behind even the stay at home parents getting their kids into nursery part time, that they got some pre shool education, routine, regiment etc
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The covid lockdowns will provide a lot of evidence about this.

I know a few teachers, have two primary school children and am a school governor.

It seems that quite a few kids joining nursery/ infants have socialisation issues and are also deficient in other areas. My guess is the lack of mixing outside the family damaged skill development, particularly social skills. That's not a great sample size though!
 
Mercenary Keyboard Warrior said:
The problem with the all in one basket approach, "man" goes and earns more and fixates on that position is what if something goes wrong. Business fails, gets made redundant etc
Suddenly you go from one supporting all income to none.
If both carry on working, maybe both end up behind their potential career due to family pressures.
If something happens to one of them, at least the other still has income.
You can if you need to pull out of nursery etc to reduce bills.

Having been and seen the nursery vs home schooling side, I am pretty convinced that nursery is better for all but the most effective parents in regards the pre school education.
When we talked to schools their main issues in regards being ready for school came from those who hadn't been to nursery.
I think this was partly behind even the stay at home parents getting their kids into nursery part time, that they got some pre shool education, routine, regiment etc
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To play devil's advocate, if the "man" is doing his job properly he'll have brought home plenty of eggs to feed the mouths even if he's out of work for a while. i.e. if you've maximised your earnings in the past then you have less need for earnings in the future.
Or to put it another way, if the man has a really big basket so brings home lots of eggs that are then stored in the larder rather than eaten straight away, then it matters less if at some point he drops his basket and smashes loads of eggs and needs to wait to get a new basket, because the house already contains more eggs than it would have done had both parents worked and used eggs on childcare fees.
That said, I do think having two income streams helps to smooth things out especially for couples that aren't building up savings. It makes taxation a bit easier too i.e. household take home income should be higher if its 75+50 instead of 125+0 (although there are ways to soften this).

As for Nursery, I'm sure they do help to prepare kids for school. It's probably one reason why year R is relatively light on formal education, because it's as much about getting all the children used to the environment.
 
Having seen this thread, I'm now uncertain as to what is exactly involved with remortgaging (having never done it before yet). Why would you need a solicitor? What are the steps involved? Why does it take 6 weeks?
 
jaybee said:
Having seen this thread, I'm now uncertain as to what is exactly involved with remortgaging (having never done it before yet). Why would you need a solicitor? What are the steps involved? Why does it take 6 weeks?
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For me it was
-pick a product from price comparison website
-lender (lloyds) provided a mortgage advisor and solicitor
-supply documents when told.

That was it
No hidden fees or surprises
 
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jaybee said:
Having seen this thread, I'm now uncertain as to what is exactly involved with remortgaging (having never done it before yet). Why would you need a solicitor? What are the steps involved? Why does it take 6 weeks?
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It’s the new lender that will need a lawyer.

A mortgage is a secured loan agains the value of the property and there is legal donkeywork to ensure that the loan can be enforced against the home in the event of a serious default. This means checking the title of the property to see if any consents are needed for the mortgage, getting the paperwork lined up and released, then subsequently registering the new charge against the title of the property etc.

Sometimes the new lender is happy to appoint their own lawyer at its own cost. It should be clear up front.
 
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Before starting to overpay my mortgage I paid off some debt last week, clearing down my credit cards and loan. Now 6 days later I've had the banks offer me a new loan and a new credit card for expensive purchases.

No wonder people struggle with debts when banks are like drug pushers.

Want to try and get my LTV under 50%before renewal time in a couple of years.

Deciding to Either overpay from now on or start building a pot of savings to put into mortgage when the time comes.
 
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