Energy Prices (Strictly NO referrals!)

I have a fixed rate up in September. I'm taking whatever 5 year fixed rate I can get at this point.

I can only see interest rates rising over the next few years.

Even with the huge amount I have paid off at ten years in, my next deal is likely to be nearly the same monthly repayments as five years back.

I feel sorry for people with big mortgages, they're going to get clobbered.
 
theone8181 said:
How old is your boiler for the pilot to be on all the time. Ours isn't and the boiler is 26 years old and I have no intention of replacing it.
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I got told by an engineer he reckons its a 30 year old model. The light is on all the time as standard, its also very hard to relight if it goes out, its had countless repairs, and call outs. But my landlord is very short-termist, so he prefers spending 100s every year on engineer callouts vs replacing it.
 
chrcoluk said:
I got told by an engineer he reckons its a 30 year old model. The light is on all the time as standard, its also very hard to relight if it goes out, its had countless repairs, and call outs. But my landlord is very short-termist, so he prefers spending 100s every year on engineer callouts vs replacing it.
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Fair enough. If its rented, the lanords probably bodged it in some way then :p .
 
danlightbulb said:
Its ridiculous when you consider that its low rates that have driven house prices up and up, and now the rug is being pulled potentially leaving people with crippling debt that they can't do anything about.
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That will be supply and demand in my view as much as mortgage rates. The problem I have with looking at interest rates as a sole manipulator of costs, is that in previous decades so many things have changed, companies adapt themselves to make more profit, there is deliberate under supplying to manipulate markets and of course we now have a housing supply problem which didnt exist decades ago.
There was even a graph posted on here a couple of weeks back showing inflation vs interest rates and that was far from conclusive that there is a link between the two. An argument could be made that its merely coincidental that on a few occasions when rates went up inflation recovered.
I do accept of course currency value affects the cost of imports if the £ weakens vs the $.

It seems energy is even now been traded as a commodity, and so everything is just really broken right now, the solution been to source our own energy, dont have it traded on the markets it just goes straight into powering the country.

For this reason I dont believe in "historically correct" interest rates. As our economy and the world economy is constantly changing as everyone fights each other for wealth. Ultimately interest rates went down because if we kept them where they were we would have been in perpetual recession.
 
If Kier is saying he is going to fix Brexit, is that going to give us a share of the EU/Norway gas which will currently first be allocated to our EU friends,
how is the government ensuring that even schools have the budget for increased energy prices, from todays news articles seems the school meal quality has taken a hit, so I guess they will just have to turn the thermostat down (similarly for houses of parliament & #10)
 
just got my edf dual fuel bill for the last 3 months :eek: it's only July and already a shocker, when are the green homes grants that the government scrapped set to start again , need to look at insulation for my external walls
 
Puzzled said:
I dont think anyone is crazy enough to think a smart meter would do that
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Lol really...... i wouldnt put it past people but yes i know it was humour however someone will believe it. Heard through the grapevine at work an engineer went out to a property to find the meter cupboarded covered in thick layers of tinfoil to try and block the signal......
 
potatolord said:
I have a fixed rate up in September. I'm taking whatever 5 year fixed rate I can get at this point.

I can only see interest rates rising over the next few years.

Even with the huge amount I have paid off at ten years in, my next deal is likely to be nearly the same monthly repayments as five years back.

I feel sorry for people with big mortgages, they're going to get clobbered.
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Yeah, our fix is up in November, current rate is 1.83%, best I can get currently is between 3.5-3.7%. Luckily our mortgage is <£100k so the difference is only about £50, but still sucks. Actually tempted by the 10 year as it's only ~£5/month more than the 5 year (of course those rates might have doubled by the time we renew :(
 
potatolord said:
I have a fixed rate up in September. I'm taking whatever 5 year fixed rate I can get at this point.

I can only see interest rates rising over the next few years.

Even with the huge amount I have paid off at ten years in, my next deal is likely to be nearly the same monthly repayments as five years back.

I feel sorry for people with big mortgages, they're going to get clobbered.
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Your mortgage is up in September and you haven't already gotten a deal sorted? Is that right?

You could have been looking 2 months ago.
 
Lovely headline, and interesting article, just wrong in one respect, I live in Greece and whilst times are just as tough, petrol and energy prices are very high etc, I can tell you that the quality of life in Greece is generally far higher than the UK. But then of course it depends by which metric you use to measure it, peoples happiness, or economic numbers…

https://www.theguardian.com/comment...-cyprus-global-britain?CMP=Share_iOSApp_Other

petrol here is between 2.30 and 2.40 euros a liter…. As a comparison, and still rising.
 
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