Mortgage Rate Rises

matt100 said:
I encourage anyone to zoom in, there's not a single door or panel that's straight, it's giving me the heebie jeebies just looking at it again.

Like the flooring was so cheap and thin applied directly the the slab so you can see up against the plinth it looks like waves.

It's really made me think about how in general people spend a tiny amount of time looking at houses to buy relative to their cost/disruption if you get it wrong in any way
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Did you add some floor insulation when you redid the kitchen?

Also, granted we only get maybe 30mins when viewing a house to buy nowadays with offers from others coming in the next day! It's not like the goood old days where you could spend an hour and also do multiple viewings on the same property!
 
Both the Fed and BOE have their interest rate decisions this week, pundits seem to be saying the Fed will pause their rises and BOE will go ahead with another 0.25
 
jonneymendoza said:
Did you add some floor insulation when you redid the kitchen?

Also, granted we only get maybe 30mins when viewing a house to buy nowadays with offers from others coming in the next day! It's not like the goood old days where you could spend an hour and also do multiple viewings on the same property!
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Even if you did you cannot spot everything. When I redid the bathroom back in 2015 I found a "bucket" under the floorboards to capture dripping water from behind the sink which was a mishmash of copper and plastic piping. Ended up ripping up all the floorboards and running new copper pipe to all the required places.
 
Freakbro said:
Both the Fed and BOE have their interest rate decisions this week, pundits seem to be saying the Fed will pause their rises and BOE will go ahead with another 0.25
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No surprise. They usually lag the US and have been slow from the start. Inflation is expected to rise this month, I forget the reason for it but it will be a blip. The economy now contracting more than expected is a counterweight. I expect we are about to hit or are very close to the peak.
 
adam cool dude said:
Even if you did you cannot spot everything. When I redid the bathroom back in 2015 I found a "bucket" under the floorboards to capture dripping water from behind the sink which was a mishmash of copper and plastic piping. Ended up ripping up all the floorboards and running new copper pipe to all the required places.
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Damm ok. That's shocking btw. I mean wow just wow? Why do people do this kind of madness?
 
jonneymendoza said:
Did you add some floor insulation when you redid the kitchen?

Also, granted we only get maybe 30mins when viewing a house to buy nowadays with offers from others coming in the next day! It's not like the goood old days where you could spend an hour and also do multiple viewings on the same property!
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Nope, we couldn't. When the extension was done they put in bi-folds, lovely.

They fitted them flush to the slab so if you put boards/insulation down you'd create a lip. It's this sort of thing that's just endless tbh.

However we found a decent compromise, some nice quick step flooring that's very thin but has a bit of a backing, enough to deaden some sound and remove the visible waveyness of the slab. Makes such a difference. But that was throughout the whole downstairs other than the living room so the floor ended up being something like £3k just for materials.
 
jonneymendoza said:
Damm ok. That's shocking btw. I mean wow just wow? Why do people do this kind of madness?
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It was a bit odd because from the outside everything was good. Recent new boiler, new fibreglass roof on the garage, recent new PVC windows and cavity wall insulation. I think it was just a bad bathroom install as when I ripped it all out there was so much junk under the bath and floorboards I filled a bin bag with rubble etc. The bathroom even had carpets!
 
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Personally, I think one more is unnecessary.
I think the damage is now starting to show through in some metrics. And as there's a lag I think holding at this point is enough.

Maybe the the rise is on the cards so they can be more sure they won't have to rise again. But for me, holding would be more sensible
 
The thing I don't get is a bucket will presumably eventually overflow given evaporation must be reduced if it's under the floorboards.

As for why people do it it's probably a combination of laziness, fear of tackling it properly and / or just doing a cheap bodge job before selling the property on. I'm not much better, when we had a new dishwasher I couldn't attach the hosepipe where it needed to go due to the wall of the cabinet under the sink getting in the way. Rather than try and have the valve moved, I just drilled and hacked a hole in the back corner of the cabinet so the pipe can be fitted. Took me hours as I don't really have the right tools for it.
 
I'd love to have a home like @matt100 .

I mean I can't ever see me being in a position to spend that much.
But a home where I felt I was going to be there long enough to justify spending where you don't care about ROI.

This is not that home.

Not sure I ever will as I do like moving around. Staying for a few years. Then moving on. Wonder if I'll ever "settle"?
 
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413x said:
Personally, I think one more is unnecessary.
I think the damage is now starting to show through in some metrics. And as there's a lag I think holding at this point is enough.

Maybe the the rise is on the cards so they can be more sure they won't have to rise again. But for me, holding would be more sensible
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I'm inclined to agree although the eurozone hiked rates this month which might influence things a bit.

If it was me I'd probably leave rates as they are this month but that doesn't mean I wouldn't raise them in future. 'being more sure they won't have to rise again' I don't think should come in to it, I mean if that's the goal then really rates should have been hiked a lot faster already. I think the BoE favours smoothing the curve a bit rather than introducing shocks.
 
HangTime said:
The thing I don't get is a bucket will presumably eventually overflow given evaporation must be reduced if it's under the floorboards.

As for why people do it it's probably a combination of laziness, fear of tackling it properly and / or just doing a cheap bodge job before selling the property on. I'm not much better, when we had a new dishwasher I couldn't attach the hosepipe where it needed to go due to the wall of the cabinet under the sink getting in the way. Rather than try and have the valve moved, I just drilled and hacked a hole in the back corner of the cabinet so the pipe can be fitted. Took me hours as I don't really have the right tools for it.
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I hear ya but I see some horror **** where its clear that it wasn't the owner who did the job such as @matt100 extension kitchen and doing a crap job at it. That's a so called pro who did that. not a DIYer

Your scenario although a botched job, can be sorted properly again but if you or someone pro was using dodgy eletrcial wire, having buckets underneath the bloody floorboard, that's boarder line stupid and dangerous!
 
HangTime said:
The thing I don't get is a bucket will presumably eventually overflow given evaporation must be reduced if it's under the floorboards.

As for why people do it it's probably a combination of laziness, fear of tackling it properly and / or just doing a cheap bodge job before selling the property on. I'm not much better, when we had a new dishwasher I couldn't attach the hosepipe where it needed to go due to the wall of the cabinet under the sink getting in the way. Rather than try and have the valve moved, I just drilled and hacked a hole in the back corner of the cabinet so the pipe can be fitted. Took me hours as I don't really have the right tools for it.
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A bit like my epic dishwasher installation when I first moved in:
HpkfNYW.jpeg


I ended up creating a hole through the wall for the waste into the utility; requiring about 200 quids worth of random fittings to get it 'right', lol.
 
413x said:
I'd love to have a home like @matt100 .

I mean I can't ever see me being in a position to spend that much.
But a home where I felt I was going to be there long enough to justify spending where you don't care about ROI.

This is not that home.

Not sure I ever will as I do like moving around. Staying for a few years. Then moving on. Wonder if I'll ever "settle"?
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I hear you. The house I'm in is not necessary my dream stay forever house.

Its missing a few key things such as no driveway, no summer house (although I could build one here but missus loves the garden as is) and other few things like no cavity walls and would like to be in a slightly more quieter spot. I'm near the north circular a406 and depending on where the wind blows, u can hear a sort of ocean like sound (it's the cars lol).
 
jonneymendoza said:
I hear you. The house I'm in is not necessary my dream stay forever house.

Its missing a few key things such as no driveway, no summer house (although I could build one here but missus loves the garden as is) and other few things like no cavity walls and would like to be in a slightly more quieter spot. I'm near the north circular a406 and depending on where the wind blows, u can hear a sort of ocean like sound (it's the cars lol).
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Home improvements are so so expensive now. I looked at getting windows Done.. No
Cost of new boiler.. No
Redoing the ensuite.. No

Basically I deal in currency of "holidays" now.
Everything now costs multiple holidays. Even the front door would cost more than our Croatia trip for a week. Can't justify it on a temp home.
 
413x said:
I'd love to have a home like @matt100 .

I mean I can't ever see me being in a position to spend that much.
But a home where I felt I was going to be there long enough to justify spending where you don't care about ROI.

This is not that home.

Not sure I ever will as I do like moving around. Staying for a few years. Then moving on. Wonder if I'll ever "settle"?
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Thanks :)

I suppose it might make us seem mental but this also isn't anywhere near a forever home.

The plan always was to move when this mortgage is up mid '25.

We'll see.. obviously per the threads reason for existing that's all a bit up in the air right now.
 
413x said:
Home improvements are so so expensive now. I looked at getting windows Done.. No
Cost of new boiler.. No
Redoing the ensuite.. No

Basically I deal in currency of "holidays" now.
Everything now costs multiple holidays. Even the front door would cost more than our Croatia trip for a week. Can't justify it on a temp home.
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O yea for sure.

For instance i have not been abroad on holiday since 2019......

majority of the reason was due to convid and saving up to buy this house and now saving up to replaster the ******!

I did get a new boiler and that cost 6k as i re located it, got rid of the 70 year old boiler and got rid of the hot water clylinder and cold water tanks that where up in the loft.

I also recently spent around 8k fixing the rising damp issues which invlolved taking some of the plaster off , putting dryrods in, adding a drain channel on the side of the house and back of it. taking render off outside at abut a couple of ft in height and putting render back on etc.

its mental and that doesnt increase the value of the property. it just fixes a major issue of rising damp!!

I did paint the render back and looks nicer then before so maybe it increases the value a tiny bit?

as they say the easiest way to increase value of your property is a new lick of paint LOL
 
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