And that does not make you cry. Hence the need for salary sacrifice sipps etc.
Wait till you hit the 100k, suicide feelings.
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Mortgage Rate Rises
- Thread starter glenimp617
- Start date
Wait till you hit the 100k, suicide feelings.
It does. But if we want a publicly funded health service, police and associated public services...someone somewhere has to pay... :/
The only mortgage I could get 22 years ago was a tracker, 2% above base rate. £144k. Within 2 years I couldn't afford the repayments and begged to go on 'interest only'. By some miracle they agreed.
Then the rate plummeted for many years and I was able to stay in my home on very low earnings.
Things then picked up on the business front and I was able to save a bit.
Long story short, I paid off my mortgage completely yesterday as my savings aren't getting 8%. I owe nothing to anyone, mortgage is gone, house is mine.
Happy days, wanted to share.
Then the rate plummeted for many years and I was able to stay in my home on very low earnings.
Things then picked up on the business front and I was able to save a bit.
Long story short, I paid off my mortgage completely yesterday as my savings aren't getting 8%. I owe nothing to anyone, mortgage is gone, house is mine.
Happy days, wanted to share.
Yes, we want but we not getting.
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Run it all to the ground I say!
I'll definitely get a massive pay rise then
Just leave is the best option.
I was reading someone was renting an office in a hotel. The government leased the hotel and have issued an eviction, to provide rooms for our visitors.
Person's going to lose their company, or take a very big hit.
It making life hard for many, then the rates going up, will make it impossible for many to even buy.
Yorkshire: Nurses have to move out as hotel is block-booked for asylum seekers
A hospital says it has been left in a “very vulnerable” position after the Government said it wanted to use accommodation currently used by…
www.google.com
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Caporegime
But clearly there's a paradox.
The interest rate rises are meant to "cool inflation". But at the moment I bet people are asking for pay rises to deal with that interest rate moreso than inflation lol
The interest rate rise hits me more than inflation, and I won't be unique in that.
Someone posted the stats ages ago. Like 95% are in fixed deals. Unclear how many of those are up for renewal in the next year or so, but rate rises are just going to harm a very few.
Don
As a very rough figure most people will be on 3 or 5 year deal so you’re likely looking at something like 20-25% of mortgages owners needing to remortgage in any one year.
Caporegime
That's still a lot lol
Isn't there like a million house holds up for renewal by end of the year.
Caporegime
I imagine most are in a fixed desk until they're not
Don
I completely agree with you, it was in response to the “not that many”.
Got three years left of my five. Should have taken a 10 year deal.
Caporegime
Ha.
I think I should have taken 5 years
But that's hindsight and all.
BBC running an article saying rates will peak at 6% in mid 2024 and come down to 4.5% in 2027.
No one really knows. There could well be other corrections by then.
It’s 1.4 million fixed rate deals that end this year last time I checked.
Looks like Amazon vans are becoming homes now, quickly get one before you are priced out.
People should read this
www.bbc.co.uk
People should read this
Whistleblowing banker who went to prison speaks out - BBC News
Peter Johnson, who was jailed for "rigging" interest rates, speaks publicly for the first time since being released in 2018.
www.bbc.co.uk
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Soldato
There is no paradox, the money printed since covid is in the tens of trillions globally.
People asking for pay rises does not cause inflation, its a result of inflation.
If the central banks want to cool inflation then can dump bonds onto the market instead of purchasing them.
Exactly. But no one seems to vote for more tax. But those same often berate lack of public services
Man of Honour
The thing you guys are missing is that public services are funded more than ever and continue to decline in quality. I don't think it's unreasonable to deduce that it isn't a simple funding problem.
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100%. The thing is the NHS has become a "roughly useful" quango welfare state in its own right. So many chocolate teapots being employed.... but rather that than claiming a payment and doing F all. Its like big construction project....it employs vast people and something kind of useful comes out of it (but not if you measure it by private sector maths).