Mortgage Rate Rises

fez said:
I have plenty of sympathy for people struggling financially but when we are a nation of fatties and people try and sell the line that "its cheaper to feed my family at the chippy than cook at home" it all evaporates because you are just talking crap. You would rather make your family suffer than take the tiny amount of effort to cook healthily at home.
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One of my local chippys is:

Regular Cod = £7.85
Regular Chips = £3.20
= £11.05

Large Cod = £9.85
Large Chips = £4.10
= £13.95

I've paid less in London.
 
My local chippy is great but the prices are kinda silly. £5 for large chips. Luckily on the rare times I do order we share a medium along with a medium cod. McDonalds is similar in that it's north of £20 every time we go now so it's a rare treat. Probably a good thing anyway!
 
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fez said:
I have plenty of sympathy for people struggling financially but when we are a nation of fatties and people try and sell the line that "its cheaper to feed my family at the chippy than cook at home" it all evaporates because you are just talking crap. You would rather make your family suffer than take the tiny amount of effort to cook healthily at home.
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This has gone way off topic, but you are making a huge generalisation there based on.....what? This is in the same class as "give up Netflix, Starbucks and avocado toast" unless you've got some evidence?

Not to pick on you specifically because it's said all the time.
 
CapitalOne said:
This has gone way off topic, but you are making a huge generalisation there based on.....what? This is in the same class as "give up Netflix, Starbucks and avocado toast" unless you've got some evidence?

Not to pick on you specifically because it's said all the time.
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There's loads of evidence on TV all the time. Just watch any episode of Eat Well for Less. Or when Jamie tried to get that town to eat healthily. I'll never forget the family on there that were feeding their 5 year old girl kebab and chips every night of the week!
 
fez said:
People aren't eating like **** in this country because they can't afford not to, its because they are lazy and don't want to. There is a reason there is a higher concentration of **** fast food places in poorer areas and there is a reason a lot of poorer people are obese.

Yes food costs a lot but it doesn't cost anything like as much as getting a mcdonalds or KFC or any other takeaway. In a cost of living crisis, the likes of deliveroo are making an absolute killing. People are paying 40% extra to get their KFC delivered despite the fact its rarely more than 5 minutes drive away from them. People are lazy.

This idea that eating cheaply is a bad thing needs to stop. You can eat healthily and nutritiously and stick to a budget. It just requires people to get off their asses, put some effort in and cut into their vital 4 hours a night in front of the TV.
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I agree with you. I understand for people working loads of hours with kids as well it can be hard to find the time. But in other cultures they would still find the time in their schedule to make a 'proper' home cooked meal as that's more of a priority for them than other things.
I see Brits up in arms on line when british cusine get's trashed online but when you actually look at what the average person is eating (probably a store bough processed crap) I can see why it get's a bad rep.
 
CaptainRAVE said:
Kind of off topic, but it’s so true. I’ve given up with our local McDonalds, it’s now pretty pricey for what is offered and I’ll get served quicker with a sit down meal in any other restaurant. Calorie per pound, junk food in supermarkets is far far cheaper than fruit and veg though, it doesn’t help matters. The bigger problem is that cost of living has just generally left less ‘fun’ money in the pot, it’s a big contributing factor to the many angry people out and about. We don’t have kids, so the impact is low, but it must be hitting families hard.
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Yeah I can't imagine the impact on families either! Especially if you were a little stretched before!

I also no longer stop. For mcDs etc on long journeys as I used to. Quality down and cost waaaay up.

Used to be a cheap pit stop, wasn't great. But price/quality/amount ratio was fine. Not anymore
 
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anyone had challenged their valuation? looking at reddit etc, nationwide is quite known to drop the value randomly. I checked zoopla etc and all agree the value at worst has remained the same never mind dropped by near £20k but nationwide portal through app suggests a near 7% drop yet their own website has a 4% drop?! so I feel like they're pulling the value out of somewhere deep.. I don't particularly care if the value is the same but come remortgage time it would be much easier to stay with them but their valuation puts up above 85% so we get worse deals by default.

our area overall has had a 6% jump on average since our purchase so it's weird to say the least and feels a bit, sketchy - bit like car insurance, you have to shop around to get the right numbers.
 
grudas said:
anyone had challenged their valuation? looking at reddit etc, nationwide is quite known to drop the value randomly. I checked zoopla etc and all agree the value at worst has remained the same never mind dropped by near £20k but nationwide portal through app suggests a near 7% drop yet their own website has a 4% drop?! so I feel like they're pulling the value out of somewhere deep.. I don't particularly care if the value is the same but come remortgage time it would be much easier to stay with them but their valuation puts up above 85% so we get worse deals by default.

our area overall has had a 6% jump on average since our purchase so it's weird to say the least and feels a bit, sketchy - bit like car insurance, you have to shop around to get the right numbers.
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Sir, this is the fish and chips thread however I shall indulge your off topic whimsy.

We had issues years ago buying a flat where the bank decided it was worth about £25k less than we were offering. Cookie cutter flats in a set of massive blocks where there was literally dozens of data points to look at for pricing. Banks valuations are usually fine but occasionally they are miles off the mark.
 
fez said:
Sir, this is the fish and chips thread however I shall indulge your off topic whimsy.

We had issues years ago buying a flat where the bank decided it was worth about £25k less than we were offering. Cookie cutter flats in a set of massive blocks where there was literally dozens of data points to look at for pricing. Banks valuations are usually fine but occasionally they are miles off the mark.
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Haha..

This would be a remortgage as we’ve had a deal with them for the last 3ish years. So not a new purchase where I’d expect a valuation of something other than what we offered.

Thanks
 
grudas said:
anyone had challenged their valuation? looking at reddit etc, nationwide is quite known to drop the value randomly.
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Are you sure it's Nationwide?

Most lenders rely on third party information for valuations, usually either a valuer (separate company) or are using automated valuation models (AVMs), the data again, provided by a third party.
 
grudas said:
anyone had challenged their valuation? looking at reddit etc, nationwide is quite known to drop the value randomly. I checked zoopla etc and all agree the value at worst has remained the same never mind dropped by near £20k but nationwide portal through app suggests a near 7% drop yet their own website has a 4% drop?! so I feel like they're pulling the value out of somewhere deep.. I don't particularly care if the value is the same but come remortgage time it would be much easier to stay with them but their valuation puts up above 85% so we get worse deals by default.

our area overall has had a 6% jump on average since our purchase so it's weird to say the least and feels a bit, sketchy - bit like car insurance, you have to shop around to get the right numbers.
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Yes -

Nationwide are one of the few that allow you to see their live valuation of your house. You can login to mortgage manager and see it. Because it's live and based on averages you can challenge it in two ways:
1. Quite seriously and formally (requiring a visit)
2. Email evidence

I did option 2 as I was renewing and it was very simple. A quick email highlighting beneficial changes I had made, and an explanation of a house that sold further up the road for 100k less. I had to offer up a new value so I just chose one that gave me the LTV I needed rather than over egged it. Response came through almost immediately.
 
BUDFORCE said:
Are you sure it's Nationwide?

Most lenders rely on third party information for valuations, usually either a valuer (separate company) or are using automated valuation models (AVMs), the data again, provided by a third party.
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I don't know where they get their data from but what's under my mortgage account vs whats on their website https://www.nationwide.co.uk/house-price-index/

do not match, their mortgage app values our house at 412k, the website at 422k, we paid 432k.

zoopla for example as a high confidence value does 436k and low end(which hasn't changed since we bought) as 415k, high end 456k.

so I can't quite figure out where nationwide gets their values from. The house has had money thrown at it, new bigger driveway, new boiler and piping, new rads upstairs etc how much that matters I don't know.

dlockers said:
Yes -

Nationwide are one of the few that allow you to see their live valuation of your house. You can login to mortgage manager and see it. Because it's live and based on averages you can challenge it in two ways:
1. Quite seriously and formally (requiring a visit)
2. Email evidence

I did option 2 as I was renewing and it was very simple. A quick email highlighting beneficial changes I had made, and an explanation of a house that sold further up the road for 100k less. I had to offer up a new value so I just chose one that gave me the LTV I needed rather than over egged it. Response came through almost immediately.
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interesting, something we may have to do, I will let my mortgage broker have a look at it first see what numbers he gets, I'm not loyal to any of the lenders really so if I have to move, I will. I just don't want to be ripped off.
 
grudas said:
I don't know where they get their data from but what's under my mortgage account vs whats on their website https://www.nationwide.co.uk/house-price-index/

do not match, their mortgage app values our house at 412k, the website at 422k, we paid 432k.

zoopla for example as a high confidence value does 436k and low end(which hasn't changed since we bought) as 415k, high end 456k.

so I can't quite figure out where nationwide gets their values from. The house has had money thrown at it, new bigger driveway, new boiler and piping, new rads upstairs etc how much that matters I don't know.



interesting, something we may have to do, I will let my mortgage broker have a look at it first see what numbers he gets, I'm not loyal to any of the lenders really so if I have to move, I will. I just don't want to be ripped off.
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Nationwide have a algo running in the background that constantly revalues houses based on assumptions. Just ignore it - it has no idea you've done work, nor any of the improvements of your local area. I found inconsistencies with the website vs. what they told me over the phone; it was just a timing thing of when the data was updated.

Zoopla is total make belief so just ignore it entirely.
 
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