Indeed it makes sense to retire somewhere like Poland even if you wasn't half polish because as you say your pension and such goes a lot further in a lot of mainland Europe compared to this little island. I would be happy to retire somewhere like Portugal tbh in 30yrs from now. Boys will be my age and a career/lift and so good to visit and holidays for them. I get to enjoy the relaxing life and sun whilst sipping on some magnificant wine! Why I would retire in this country considering its costs I don't know tbh. My aim is to be mortgag/debt free and have financial self sufficiency by 60. I have 27yrs to make that happen!
Mortgage Rate Rises
- Thread starter glenimp617
- Start date
Exactly. Was out there for best mates wedding (his misses portugese) and yeah just lovely place I could see myself happily there near the coast and the food is brill too That is ignoring my current work pension, private pension and LISA accounts till then too. The forcast is for my monthly income in todays money to be about £30k a year + state pension.
3.3-ish % is still available online
Fix or tracker?
Trackers and discounted rates, 2-3 year duration, on MSE.
Soldato
- Joined
- 24 Apr 2007
- Posts
- 7,563
- Location
- Southport
I’m seeing this a lot in my local area.My rent is going up by £200 as a result of my landlords mortgage renewal. Ouch.
My tenants have struck gold I guess; I wouldn’t dream of bumping it up by that much. Quite an obscene increase!
My rent is going up by £200 as a result of my landlords mortgage renewal. Ouch.
Yup because of the increase in rates, it in turns increases the stressed rates at which the rental calculations are based on.
They might be struggling to remortgage unless they put the rents up, very much depends on circumstances, and let's face it, lots will use it as an excuse if they they don't need to.
Oof, our first 50% higher payment went out this morning, hurts to see 
Remortgage doesn't seem to have completed yet, heard nothing from the solicitor despite trying to chase them yesterday. Going to cost us ~£15/day in interest for every day it's delayed
Funny.* Pretty sure I predicted this a couple of months ago and several people responded to me saying it definitely wouldn't happen.
* Funny isn't the right word - it's going to be devastating for thousands of people
Remortgage doesn't seem to have completed yet, heard nothing from the solicitor despite trying to chase them yesterday. Going to cost us ~£15/day in interest for every day it's delayed
My rent is going up by £200 as a result of my landlords mortgage renewal. Ouch.
Funny.* Pretty sure I predicted this a couple of months ago and several people responded to me saying it definitely wouldn't happen.
* Funny isn't the right word - it's going to be devastating for thousands of people
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Caporegime
- Joined
- 22 Oct 2002
- Posts
- 28,303
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- Boston, Lincolnshire
We are on the verge of a massive recession. Rates will come down in a couple of years like 08-11 but it will be a while before they even go below 3%.
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They "forgot" to send us a form over, so looks like a 3-5 day delay (i.e. middle of next week), so basically ~£100 extra interest charges spaffed up the wall due to their incompetence. Of course they've got the typical get-out clauses in their paperwork
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Nor should they 3% is a very good mortgage interest rate, implying around a 2% bank rate. Savers need returns as well.
I had a similar issue and despite get-out clauses made an official complaint stating
They "forgot" to send us a form over, so looks like a 3-5 day delay (i.e. middle of next week), so basically ~£100 extra interest charges spaffed up the wall due to their incompetence. Of course they've got the typical get-out clauses in their paperwork
- When I'd clearly asked them to complete on a given date
- When I'd followed up on two occasions to check they had everything and they said they did and confirmed on track
- Based on the above, delays due to them having forgotten something was not acceptable
Initially they just offered me £25 or something, however after the official complaint they put me back in the same position as if I'd completed on the day I'd requested by giving me compensation equal to the excess interest payments.
They shouldn't get away with being incompetent.
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Agreed - they said they'd sent the form out with the redemption statements, but I've checked that email and it's definitely not on there, and nothing in spam around the same time, so they definitely didn't send it >_<
I've sent it over now and they're saying completion is due tomorrow, but we'll see, if it does take us into next week then I will definitely be raising a complaint about it.
It is my understanding that no matter what their terms say it is not possible to contract out of negligence - i.e. no matter what the terms say, if they were negligent then you have a claim as you are paying them a fee to perform a service which they have performed in a negligent manner, and this negligence has caused you a loss.
Probably a reasonable damper to house prices.