They are crying out, we were offered a cheap house for remote work, there were some restrictions.
Specially if your skills are in demand.
Mortgage Rate Rises
- Thread starter glenimp617
- Start date
They are crying out, we were offered a cheap house for remote work, there were some restrictions.
Specially if your skills are in demand.
I don’t have the numbers on hand specifically for the UK, but according to the UN’s global data, the few who do send money home send only an average of 15% of what they earn, leaving 85% of their wages in their host country.
Which i suppose is not at all surprising considering that they still need to be able to live while they’re working.
When you’re dealing with the kind of crippling labour shortages that we are, clinging on to a politically motivated, completely outdated, and purely feelings based ideology, over facts, is not wise.
But this isn’t the thread for such discussion.
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Man of Honour
Dude.
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Pretty irrelevant, they are always economically active whilst living in the UK. What they do with their spare money is their choice, same way native workers don't spend all their money in the UK, but save, go on foreign holidays, buy goods from abroad.
And it's always the same small minded comments, how about our emigrants who do exactly the same. Go and work in Saudi etc for ludicrously high amounts of tax free money, then send it back home to the family.
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Man of Honour
That's different, I don't think Saudi or UAE natives (who are pretty exclusively upper middle/upper class), are negatively affected by that.
And neither are we, at least according to literally all reputable research done into the matter.
Regardless, let’s not drag this thread into yet another immigration discussion, those numbers and the research in question has been discussed to death in several other threads.
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No they don't care, what stopped us was the costs such as medical schools etc.. if you fall sick over there they will just fire you. You end up lossing medical insurance etc..
Yes, the money is great but they will not offer you anything free if you are a foreigner. ( You could have something that is deadly but curable they will not help you.)
I have known people that were sick and forced to leave Dubai. One ended up in the UK and he was not even British.( This is one issue that really annoys me about the UK).
In that instance you can't break free from the UK. You need to understand the 2 year rule in this country if you are British.
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Its very hard to escape to a place where you see no people. Sometimes deep in Welsh hills off the beaten path. Same goes for Scotland. But in England, and particularly east England, there are always loads of people.
When you're an outdoorsy type the UK can feel very over populated.
Man of Honour
Reputable according to who, you?
What an easy way to say "nah I'm right... but let's not talk about it."
:edit: it's important to note I'm not specifically talking about particularly measurable things such as economic activity, it's an overall picture including culture. I'd argue our country has done a particularly poor job of maintaining our culture and encouraging/incentivising integration vs the middle eastern countries mentioned.
I agree, let's not talk about it, but stating your side is the custodian of all facts on a subject and then shutting down conversation is a pansy move my guy. As I said though, I agree, this thread is pretty rekt so getting back to mortgage rates is good.
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Outside of this forum there's more and more talk about mortgages in real life.
Never really talked much about it, but I had one friend last week thank me because I told her she needed to sort her mortgage out last year rather than leave it until renewal time.
Another friend said he was trapped renting due to mortgage costs.
Real impact must be imminent. More and more people coming off old covid fixes onto these now 5-6pc rates. Who knows how high base rate could go.
Looks like inflation is predicted to still be over 8pc. And we could well get an increase in gas prices in winter.
Rough times ahead. Next 2 years could see a big movements in house prices.
And its yet another boon for the wealthy pensioners. Who have paid off mortgage and now sit on savings. And another slap for the younger generation. And as its all Loaded onto essentials, it's going to take a long time to come down. And even then it will still be sky high cost of living.
One good thing.. More news outlets are mentioning it's fueled by brexit. I hope that point continues to get pushed. Because the general public need it slapped across thier faces that xenophobia is not a good thing.
Never really talked much about it, but I had one friend last week thank me because I told her she needed to sort her mortgage out last year rather than leave it until renewal time.
Another friend said he was trapped renting due to mortgage costs.
Real impact must be imminent. More and more people coming off old covid fixes onto these now 5-6pc rates. Who knows how high base rate could go.
Looks like inflation is predicted to still be over 8pc. And we could well get an increase in gas prices in winter.
Rough times ahead. Next 2 years could see a big movements in house prices.
And its yet another boon for the wealthy pensioners. Who have paid off mortgage and now sit on savings. And another slap for the younger generation. And as its all Loaded onto essentials, it's going to take a long time to come down. And even then it will still be sky high cost of living.
One good thing.. More news outlets are mentioning it's fueled by brexit. I hope that point continues to get pushed. Because the general public need it slapped across thier faces that xenophobia is not a good thing.
Reputable because the research in question is from well established academic and economic institutions, and has been through peer review.
You’re welcome to post in one of the relevant threads.
There aren’t two sides because there is no serious research that disagrees. Just as l with climate change, all you have are people who deny data and people who don’t.
Like I said, feelings over facts.
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"Saudi Arabia is one of the richest nations in the world, yet the majority of the population lacks basic amenities. The poverty rates show clear income disparity in Saudi Arabia and it needs to be further addressed."
"At least 80 percent of the revenue in the Saudi treasury comes from petroleum, but the average Saudi citizen does not benefit from those gains. The central government in Riyadh, where the royal family is settled, receives most of the oil profits. This sustains a strong monarchy and keeps the majority poor and powerless. The public simply has no say in how the government spends its money."
Saudi is literally like the UK wealth inequality x1000
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Its really difficult because you seem to be throwing out words without thinking what your saying.
One minute its all then its the long term unemployed (3+ years) which is a minimal and hence insignificant portion of the population.
They need to point the blame at something.
It is Global inflation, that is causing this.
The civil service dragged their feet with Brexit, the problem is not Brexit, the biggest problem: barriers placed by those that don't want Brexit. Mostly for financial reasons.
Example:
Lots of landowners were getting millions from the EU.
Politicians would not take responsibility and blame the EU, They don't have that choice now and have no idea how to accept responsibility. We no longer have proper politicians.
High Mortgage rates for a long period 2 years will have a wider impact on any economy.( Btw they are not that high, but makes servicing them difficult at current property valuations v wages.).
xenophobia is a tool to keep the gravy train on track. Stop any proper discussion and resolutions.
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I've noticed this too. The press and media needs to be careful otherwise they'll start another self-fulfilling prophecy and make the matter worse just like they always do.
I still find it surprising when I mention to some people that they should start looking for a new mortgage 6 months before their current rate ends, it's as if they aren't concerned with something unless it's on the end of their noses.
Mortgage and the term are pretty important. I have spoken to one of two people really shocked them.
They didn't understand, if they took out a 25 year Mortgage they would pay double the price of the property, this is the biggest problem.
Some more interesting data…
Obviously the prevalence of fixed rate mortgages in the UK means that it will take time for the previous rate hikes to be fully felt.
But with such a high proportion of short-dated fixes, it could be pretty big when the hit comes.
Obviously the prevalence of fixed rate mortgages in the UK means that it will take time for the previous rate hikes to be fully felt.
But with such a high proportion of short-dated fixes, it could be pretty big when the hit comes.
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Soldato
Spare a thought...
From twitter but the tweet has some swears in it.
From twitter but the tweet has some swears in it.
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Caporegime
He might have to downsize to 5mil home…basically paying off that variable rate lump sum…what a terrible thought.
Lol this is what I mean Greed.Spare a thought...
From twitter but the tweet has some swears in it.
What he should have done is. Buy a cheaper place. Saved on the var rate.
On another note. When you have foreign companies creating H.A in this country . You know there is a big problem.
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