Mortgage Rate Rises

[DarrenM343]

The banks needing a bailout was their own fault for engaging in far too risky behaviour - they reaped the rewards of doing so, but guess who paid for the risk (hint: it wasn't the bankers getting rich when things were going well for them)?

Meanwhile, the "bailouts" given to the public via furlough and the energy price cap are going to be paid for by that same public through increased taxation (or a reduction in spending on public services) over the next few years.

Aye, but could say the same thing about the public. Many blow their cash on rubbish or cannot control their spending, risk their own future by not putting cash aside. We're each responsible for our own lives, like a little business. We're continually kicking the can that's growing in size further down the road. We're basically socialising the losses/reckless spending of others.
There's a huge issue brewing with capitalism and debt based economies.

 

[jonneymendoza]

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.

Lol you don't need to be a mathematician to be a decent developer!

 

[neocon]

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

Watching Netflix instead of working as we speak

 

[mid_gen]

The pound looks so weak and vulnerable right now.

People keep voting to wreck the economy, so what can you do? A bunch of pensioners just handed the reigns to an incompetent, economically illiterate simpleton and her mates, and people are surprised absolutely nobody has any confidence in the UK anymore. Our reputation is in tatters.

 

[jonneymendoza]

Watching Netflix instead of working as we speak

You a dev?

If you can watch Netflix and still get the job done as per what the client wants, then you probably are a decent dev

 

[Haggisman]

Aye, but could say the same thing about the public. Many blow their cash on rubbish or cannot control their spending, risk their own future by not putting cash aside.

And many more simply don't have the capacity to put any cash aside because they're simply trying to stay afloat earning a pittance doing a crap job that no-one else wants, but someone has to do.

 

[413x]

Do you guys think if we weren't in a country absolutely consumed by housing market it would have been 0.75? I think so.

Can really see any other reason not to push it up.

I'd have been ****** if I took my brokers advice to wait for my Erc to expire now.
Just looking up what my mortgage will be.



First time buyers are screwed.
Houses still at unsustainable valuations. Now can't get a first mortgage much below 4 percent. Utility bills through the roof.


I've never seen such a big wedge shoved between the rich and poor as now. So sad really. And truss is fueling it.



Edit.
So if I took my brokers advice I'd be down to the tune of 300 a month now. Unbelievable on what is very much an average mortgage
I'd be looking at a rate of 3.9 percent on a 210k mortgage

 

[Mercenary Keyboard Warrior]

So is it better to just increase it by 2% then?

Probably 1.5% now, give or take.

All they doing is delaying the inevitable and killing the currency with their delay.

 

[DarrenM343]

And many more simply don't have the capacity to put any cash aside because they're simply trying to stay afloat earning a pittance doing a crap job that no-one else wants, but someone has to do.

Yep, and those should be the people being supported. Not lets say £40-50k earners with their new £70k leased Tesla's etc, second home owners, etc etc .

 

[aardvark]

The pound looks so weak and vulnerable right now.

we are going to end up in a full blown currency crisis just to prop up a few houses.

 

[neocon]

You a dev?

If you can watch Netflix and still get the job done as per what the client wants, then you probably are a decent dev

80/20 rule, my productivity is low, but someone else's is very high

 

[200sols]

Probably 1.5% now, give or take.

All they doing is delaying the inevitable and killing the currency with their delay.

I just read one member of the committee only voted for a 25bp rise. You have to wonder what is going on at the BoE right now.

 

[glenimp617]

My 2.29% fixed rate ends June '23 lol as the starter of this thread I was already looking yonks ago, but that silly 5% ERC from santander stuffed me over. Unlike many others, they don't drop the percentage either, so even a month before your term ends it's still 5%.

I'm preparing to see 5% - 6%

Santander have just increased their rates today

90% 5yr fixed 4.59%
80% 5yr fixed 4.29%
70% 5yr fixed 4.09%
60% 5yr fixed 3.99%

 

[McBain]

Got to pay those banker bonuses somehow

 

[413x]

My 2.29% fixed rate ends June '23 lol as the starter of this thread I was already looking yonks ago, but that silly 5% ERC from santander stuffed me over. Unlike many others, they don't drop the percentage either, so even a month before your term ends it's still 5%.

I'm preparing to see 5% - 6%

Santander have just increased their rates today

90% 5yr fixed 4.59%
80% 5yr fixed 4.29%
70% 5yr fixed 4.09%
60% 5yr fixed 3.99%

5pc even at the end of the term?


When I took out our first mortgage I didn't even know what an ERC was. Lucky it was 3yr 3,2,1. I which is typical.

 

[OspreyO]

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

That's because most places don't train devs or mentor them. They just skim off the best 10% and the rest drift off into other parts of IT eventually.

Been like that almost everywhere I've worked in IT.

 

[JamesH85]

My 2.29% fixed rate ends June '23 lol as the starter of this thread I was already looking yonks ago, but that silly 5% ERC from santander stuffed me over. Unlike many others, they don't drop the percentage either, so even a month before your term ends it's still 5%.

I'm preparing to see 5% - 6%

Santander have just increased their rates today

90% 5yr fixed 4.59%
80% 5yr fixed 4.29%
70% 5yr fixed 4.09%
60% 5yr fixed 3.99%

I imagine by Nov/Dec them 90% LTV offers will be above 5%

 

[sigma]

People keep voting to wreck the economy, so what can you do? A bunch of pensioners just handed the reigns to an incompetent, economically illiterate simpleton and her mates, and people are surprised absolutely nobody has any confidence in the UK anymore. Our reputation is in tatters.

But @dLockers recently said the UK has exponential growth in all areas.

So clearly some people think all is rosy.

 

[neocon]

But @dLockers recently said the UK has exponential growth in all areas.

So clearly some people think all is rosy.

I thought we were going into a recession?

 

[sigma]

I thought we were going into a recession?

Some say we're already in it.