Mortgage Rate Rises

ZeroG said:
I guess I'm kinda lucky that my mortgage is still fixed for another 2 years. But it does make me nervous as I can't see things settling down by the time it comes for me to renew.
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I'm seeing it as a negative at the moment
I'm fixed till next December.

When we do hit a recession, I don't expect interest rates to rise, I mean that's not exactly going to help people spend is it
 
Freakbro said:
That's not that true, there's still a lot of money in the system from all that was saved during Covid. Try and get a plumber, builder etc and they are all still absolutely flat out, even with commodity prices being sky high!
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I've certainly noticed this. We've been out to shopping centers and still eaten out at restaurants and they're just as packed as ever before. If anything I'd say this cost of living crisis is starting to show a clear divide in society between those who can probably weather this storm, and those who can't.
 
ljt said:
Good for you. You are however, in the minority.

This forum is skewed in favour of higher earners, who don't seem to grasp that the vast majority can't afford to save vast amounts because there aren't enough highly paid jobs to go around. Equally, all the lower paid, but absolutely essential jobs would still need doing even if by some miracle there were enough high paid jobs for anybody that wanted them.
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A lot of people are not humble here thats why
 
ljt said:
Good for you. You are however, in the minority.

This forum is skewed in favour of higher earners, who don't seem to grasp that the vast majority can't afford to save vast amounts because there aren't enough highly paid jobs to go around. Equally, all the lower paid, but absolutely essential jobs would still need doing even if by some miracle there were enough high paid jobs for anybody that wanted them.
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There are plenty of good paid jobs in the sector I'm in (civil engineering) but no one wants to do them. There is a serious shortage of civil engineers in this country.
 
Martini1991 said:
This gets said, but the inflation we're experiencing will not be solved by interest rates etc. People aren't splashing out, they're barely surviving which is why we've had to give out so much support

Government policy is to prop up houses prices as well.
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Unfortunately government policy won't work. How will you live when your house price has gone up by 300% but your food and energy costs have gone up at the same rate, if not higher due to a devalued GBP with no wage rises?
 
jonneymendoza said:
Same for IT programmers. Most IT programmers are not even born and raised in the uK.
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Yeah, we've had a severe shortage of decent developers, despite having had permanent vacancies for at least the last 2-3 years. Problem is many people see IT as an easy option, but the reality is you need to be able to think in a certain way to actually be any good at programming!

We do have quite a diverse team though, with a good proportion of both British and non-British
 
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Martini1991 said:
Just seen your location.
How can you live there and have that mindset.
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Because life here is steady and house prices (until recently) were not stupid. Cost of living hasn't been as bad as other places. Hence you can put money aside easily. Just depends what your priorities are. You can have the big house and the fancy cars or you could just live within means and put money away for later on in life. Most people tend to live for the hear and now and want the nice things and there is nothing wrong with that but you can't critise those who choose to save rather than splurge.
 
Haggisman said:
Yeah, we've had a severe shortage of decent developers, despite having had permanent vacancies for at least the last 2-3 years. Problem is many people see IT as an easy option, but the reality is you need to be able to think in a certain way to actually be any good at programming!
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Yeah, it’s not laziness / not wanting the job. I’m poor at maths / mathematical logic. I could waste my time and the employers by struggling to just about comprehend how to do it or I could let someone else more naturally gifted (or at least with the aptitude to learn) do a much better job than I could ever do.
 
photoshop said:
Because life here is steady and house prices (until recently) were not stupid. Cost of living hasn't been as bad as other places. Hence you can put money aside easily. Just depends what your priorities are. You can have the big house and the fancy cars or you could just live within means and put money away for later on in life. Most people tend to live for the hear and now and want the nice things and there is nothing wrong with that but you can't critise those who choose to save rather than splurge.
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Do you own your own place too? Not looking to have a pop just curious. I’m about half an hour north of you so agree about things being slightly different here in terms of the steadiness of the housing market.
 
photoshop said:
There are plenty of good paid jobs in the sector I'm in (civil engineering) but no one wants to do them. There is a serious shortage of civil engineers in this country.
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That's great, but you'd need a degree to even get a look in at those type of positions. So those in lower paid jobs, who most likely couldn't afford to do a degree had to go straight into any job they could get to keep a roof over their heads and food on the table aren't going to even be able to apply because companies want the job candidates to be all ready to go, preferably with experience.

I know I couldn't afford at the time to do a degree. I was bought up by a single parent (my Mother) who worked in retail to be able to look after me on her own (this was before benefits and child support were a thing) My Dad scarpered and never heard from, so I'd work weekends from age 15 while at school, and part time when I went to college (which itself was a tough decision on whether I could afford to go to college) and as soon as I finished college I needed to look for work until I managed to get an apprenticeship, and now been with the company 19 years, in a job that I actually like, but it isn't a high paying job, just below average UK wage.
 
Haggisman said:
Yeah, we've had a severe shortage of decent developers, despite having had permanent vacancies for at least the last 2-3 years. Problem is many people see IT as an easy option, but the reality is you need to be able to think in a certain way to actually be any good at programming!

We do have quite a diverse team though, with a good proportion of both British and non-British
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Yea there's a difference between a decent dev and a **** one and the majority are ****.

So when I mean by lack of developers I mean lack of decent 5/10 score rating devs.

Am not even talking about rock star devs
 
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