Soldato
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Ideally with a semi automatic....
Mortgage Rate Rises
- Thread starter glenimp617
- Start date
Exactly. The higher the interest rates go the more it pays to overpay, if you can afford it that is. I got a 5% pay rise this year and I'm lucky wife and I run quite a tight ship at home. We still have the fun of child care costs to cover etc but we try are hardest not to fill the pockets of energy suppliers etc. We don't have fancy mobiles, any subscription TV etc. It all helps at a time like this.
I really hope the lenders help people out, adapting their current plan to allow them to continue being able to make payments. Unsure how I feel when it comes to those who did do everything right to their financial limit fully knowing that things would more than likely change in the future. This is what happens when you roll the dice and gamble / take a risk, sometimes you lose.
But house prices are so absurd, most have no choice but to go to the limit.
Almost daft not to unless you think you've reached peak earnings/you are going to "plod" for the remainder of your life.
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I still don't understand how solving the problem of inflation (which has mostly come from food and fuel), is solved by making owning a roof over your head absurdly expensive....
I'd rather have my food bill go up £50 a month than the amount that pays for my shelter to go up £500 a month...
Even more so because we will likely just end up with both...
I'd rather have my food bill go up £50 a month than the amount that pays for my shelter to go up £500 a month...
Even more so because we will likely just end up with both...
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I think it's more of a symbolic thing at the moment. They're doing it because there's not much else that can do, nothing palatable anyway.
It's actually a side effect of our short term fixes. Other countries with long term fixes don't see this, they've also seen inflation fall faster than us..
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What drives me mad is that if inflation drops slightly next month , the Tories will be crowing about it and patting themselves on the back.
"your mortgage may have gone up £600 a month, but aren't you glad that 4 pints of milk costs 5p less now?"
"your mortgage may have gone up £600 a month, but aren't you glad that 4 pints of milk costs 5p less now?"
Don't worry. It's not gonna drop much in next few Months.
And remember. 0 inflation still doesn't mean cheaper
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Yes I know, but food costs might drop a little.and if they do you can bet that Sunak will be saying how wonderful it is whilst everyone has mammoth mortgage repayments.
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and there is the problem why not take smaller steps .. must be a 20-35yr old thing max it out we can do better then get caught in the **** show ..more so if your on a small wage packet ..
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Because I've locked in a house at 2022 prices and not 2027 prices. To buy my house at 2027 prices I'd need to be earning even more/would never be able to afford it.
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and i locked mine in at 2020 prices and i'm doing fine till 2030 .. it's all those that din't that are feeling the pain .. lrg jumps don't serve a purpose .. small steps is what gets you there ..
Soldato
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It's really dumb how people in government are managing to ignore this so easily. We all got £66 a month to help with energy bills a few months back because they'd tripled from £1k to £3k. Mortgages and rents increases could be up by four times this amount or more.
I cannot fathom why one warrants support yet the other does not.
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because it's not everyone .... ???
Because everyone uses energy but not everyone has a mortgage.
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Things like milk and eggs are probably not coming down any time soon. Supermarkets have squeezed the market so tight, that producers have walked away.