2022 mini-budget discussion

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robgmun said:
Again, that's a lack of research on your part. I just got another 5 year fix at 1.75% from Halifax this May. I doubt we would have got much cheaper on VR and even if so now you're going to pay more for not being on a fix rate, aren't you?
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Mate, trust me when I say, I know precisely what I've gotten myself into. My gamble was £8k today or a potential £x in 2 years time. Luckily I value bricks and mortar, the roots I'll put down with my daughter, and the lifestyle it'll afford me more than lavish holidays and posh cars on finance.
 
dLockers said:
Mate, trust me when I say, I know precisely what I've gotten myself into. My gamble was £8k today or a potential £x in 2 years time. Luckily I value bricks and mortar, the roots I'll put down with my daughter, and the lifestyle it'll afford me more than lavish holidays and posh cars on finance.
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It is worth the risk most of the time. And I still think that if you're going to risk it housing is the best one. Simply as it makes so much difference to life satisfaction.

Living in that 1 bed rented 1st floor conversion flat before with 500 rent, broken lock, rotting kitchen (cupboard doors fell off from rot), a bathroom originally white, now yellowed), with half radiators (electric) broken. To a 3 bed detached for 800 a month?

Sure could have got something inbetween.

But in thy UK the cost and tax of moving pushes you to big irregular jumps.




Yeah it was worth the risk.
 
80sqm flat dweller can commute to work from a cheaper area ...

if you heard heard deVere property interview this morning on today - they are investing in the UK, trickle down price drops from withdrawing top investors


deVere Group has decided to temporarily close its property investment division amid growing inflation fears, which could prompt the Bank of England to continue hike interest rates further to combat rising prices.

The UK financial advisory firm has $12 billion under advisement and will pull all UK property investment projects, effective immediately.

James Green, deVere Group Investment Director, comments: “We are concerned about the availability of credit and, therefore, an imminent drop in property prices so we are temporarily suspending all property investment projects. We understand many clients around the world will be concerned about current mortgages and protection and, as such, we have put together a dedicated team to assist with these enquiries.”
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jonneymendoza said:
The whole point was that with 100k salary, you can struggle at times like these.
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Struggle is too strong a word, they have to make choices, tough choices in some situations but they ain't struggling.
jonneymendoza said:
The more we let this happen, the more the goal posts move and people with earn 200k+ will need to cut back too
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Wind back the clock and we could apply the same logic to those earning 50, 25, 12k. Just because more people have been caught up in it this time it doesn't change that those lower down the pay scale have been making those cutbacks for decades.

People weren't saying (iirc) the more we let this happen, the more the goal posts move and people with earnings 20k+ will need to cut back too.
 
There isn't really a debate here. If you are on £100k you are in the absolute top % of earners - this is a factual thing. The vast majority of people are not on anywhere close to that.

Of course, people on large salaries can end up struggling for many different reasons. It's not a magic amount of money where you suddenly are immune from job loss, illness, etc.

Everyone has to budget. If you earn £1m a year and spend £2m, you're in trouble.
 
Murphy said:
Struggle is too strong a word, they have to make choices, tough choices in some situations but they ain't struggling.

Wind back the clock and we could apply the same logic to those earning 50, 25, 12k. Just because more people have been caught up in it this time it doesn't change that those lower down the pay scale have been making those cutbacks for decades.

People weren't saying (iirc) the more we let this happen, the more the goal posts move and people with earnings 20k+ will need to cut back too.
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Yea i was actually going to allude to your second part.

For instance my parents were just nurse/security guard and yet they owned properties and moved twice mate and made mortgage payments fine and in location closer to central then i can afford....

Now, good luck for those who are Nurses and security guard getting a mortgage for a 2/3 bedroom room flat in zone 5. My parennts had a 3 story house with 5 bedrooms , 5min walk from a london underground station....

I earn way more then my parents do combined and yet i cant afford a property on that very same road we use to live in today....

See how the goal posts keep changing? todays 100k was yesterdays 40k(if you know what i mean)

My question to you if you have children or planning to. How much do you reckon they would need to earn in order to buy a small flat/house in zone 5 of london in 15-20 years from now?

With the way in which things have increased. my childen would probably need to be literally millionaires in order to buy a 3 bedroom property anywhere remotely close to london....

O and make no mistake. almost every single major city in the uk and the whole world has this issue.

Dont think for a second that this is just a "LONDON" problem.
 
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dLockers said:
Same as someone earning 20k right. Why don't they just on the dole? Get a council house?

Why does anyone work?

Hang on I think you've evoked an actual existential crisis, brb
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You for real?

I dont want this to be a personal attack but your posts kind of suggest you are at the 100k bracket and annoyed that things like your mortgage will increase by a fair amount and feel hard done by. Regardless of if thats the case some of your comments are very out of touch with the "common worker"
 
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Zenduri said:
You for real?

I dont want this to be a personal attack but your posts kind of suggest you are at the 100k bracket and annoyed that things like your mortgage will increase by a fair amount and feel hard done by. Regardless of if thats the case some of your comments are very out of touch with the "common worker"
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Yes mate I am for real. I think you've missed about 100 whiny posts in between and jumped to immediate mouth frothing.
 
jonneymendoza said:
Yea i was actually going to allude to your second part.

For instance my parents were just nurse/security guard and yet they owned properties and moved twice mate and made mortgage payments fine and in location closer to central then i can afford....

Now, good luck for those who are Nurses and security guard getting a mortgage for a 2/3 bedroom room flat in zone 5. My parennts had a 3 story house with 5 bedrooms , 5min walk from a london underground station....

I earn way more then my parents do combined and yet i cant afford a property on that very same road we use to live in today....

See how the goal posts keep changing? todays 100k was yesterdays 40k(if you know what i mean)

My question to you if you have children or planning to. How much do you reckon they would need to earn in order to buy a small flat/house in zone 5 of london in 15-20 years from now?

With the way in which things have increased. my childen would probably need to be literally millionaires in order to buy a 3 bedroom property anywhere remotely close to london....

O and make no mistake. almost every single major city in the uk and the whole world has this issue.

Dont think for a second that this is just a "LONDON" problem.
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Cannot imagine the world kids of today are going to inherit.

With environmental stuff taking a real sideline its not going to be pretty.

Housing, cost of living, world becoming more fractured and isolationist, and the big one... Environment.


Yeah... No
 
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