"Most only have £500 of savings ",says Lloyds boss ,really ?

[413x]

Surely no matter your circumstances... Becoming mortgage free must make you feel wealthy?

I guess some people have small. Mortgages throughout.

I remember zooplaing my parents first house. My mortgage must have been 4x more than mine at the least. It could have been 6x more depending on thier deposit!

I guess if you have that low a mortgage it. Won't make you feel rich paying it off.

 

[wildman]

I'm not applying one example to wider society as clearly energy, petrol etc. is having a massive impact on everyone currently. There are however many people who have lived within their means, saved, not bought cars etc. on PCP plans and generally been frugal. This is now paying off as things go south. The same simply can't said for people who have failed to save and curb their spending habits.

There are people that fritter everything away and people who save every penny and barely live, with everything in between. Pick somewhere in the middle and ride out the harder times is simply my point.

sorry I don't think you get it. even before we headed into what is going to be the biggest fiscal cluster, we have seen people were already behind the curve. Why do you think food bank usage rocketed in the last 5 or so years. You can't be frugal if frugal means your kids starve, your house is in perpetual darkness, cold and damp because you can't load up the meter. At this point i await for you to tell me that you can cook a meal for 13p like that idiot Tory MP was spouting...............

I don't know what your brand of politics is or your political views, but you do come across as someone that the daily mail / right wing press and media in general has done a good job on in pitting against others less well off in society. That branch of the media has really done its homework well and what we see now is the result. People basically rounding on each other saying it's their fault for not being frugal or being spend thrifts and then basing that purely on anecdotal evidence as that aligns with the steady drip feed they have been getting on a daily basis from those media outlets. It's the basic reason why this country will for ever be screwed. You have politicians basically blaming the poor for being poor and most of their supporters and lackeys are lapping it up.

 

[200sols]

I wonder if you could afford the same house at today's market prices as a 'low earner' (your words)??

 

[dlockers]

Surely no matter your circumstances... Becoming mortgage free must make you feel wealthy?

Ah all relative. My mum is mortgage free (similar circumstances to Feek I'd wager) - any big bills are crippling (I pick them up) and the anxiety she has about maintaining the place is a real drain on her mental health. Unfortunately unless you are signed off as elderly/disabled UC at the right point in life, your later years unless you have a really decent pension is pretty tough.

Ex: not quite correct but roughly - my neighbour had a hip replacement at the right age, which meant she was automatically entitled to Motability, UC etc....

 

[200sols]

Ah all relative. My mum is mortgage free (similar circumstances to Feek I'd wager) - any big bills are crippling (I pick them up) and the anxiety she has about maintaining the place is a real drain on her mental health. Unfortunately unless you are signed off as elderly/disabled UC at the right point in life, your later years unless you have a really decent pension is pretty tough.

Ex: not quite correct but roughly - my neighbour had a hip replacement at the right age, which meant she was automatically entitled to Motability, UC etc....

Sounds like people get penalised for staying in good health.

 

[dlockers]

Sounds like people get penalised for staying in good health.

Yep. She's now properly crippled pending hip replacement at 73 and that has finally been the trigger to get her a bit of help. Luckily once you are in the club, the house of cards begins to fall - blue badge, half council tax etc.

The help is there, but my god if you are healthy and poor - sucks to be you.

Edit: until the hip is done and then she is back to surviving on a widows pension.

 

[413x]

Ah all relative. My mum is mortgage free (similar circumstances to Feek I'd wager) - any big bills are crippling (I pick them up) and the anxiety she has about maintaining the place is a real drain on her mental health. Unfortunately unless you are signed off as elderly/disabled UC at the right point in life, your later years unless you have a really decent pension is pretty tough.

Ex: not quite correct but roughly - my neighbour had a hip replacement at the right age, which meant she was automatically entitled to Motability, UC etc....

My parents. It's tragic.
My mum has such bad depression. But my step dad won't move. They are locked in a inheritance battle over what is to them trivial money.

They've gone and got themselves so burdened by stuff and a big house they are crippled by it. Both miserable.


House is probably a million. They could sell and move to somewhere 500k for a cottage, move away from family stuff. Which is directly impacting my mums health.

Bills (oil heating), house work, gardening. All killing them. But my step dad is too. Stubborn and fixed.


It's certainly been a life lesson for me.


I actually do not know how they are paying the bills. Maybe equity release!

 

[Zatoichi.uK]

sorry I don't think you get it. even before we headed into what is going to be the biggest fiscal cluster, we have seen people were already behind the curve. Why do you think food bank usage rocketed in the last 5 or so years. You can't be frugal if frugal means your kids starve, your house is in perpetual darkness, cold and damp because you can't load up the meter.

I don't know what your brand of politics is or your political views, but you do come across as someone that the daily mail / right wing press and media in general has done a good job on in pitting against others less well off in society. That branch of the media has really done its homework well and what we see now is the result. People basically rounding on each other saying it's their fault for not being frugal or being spend thrifts and then basing that purely on anecdotal evidence as that aligns with the steady drip feed they have been getting on a daily basis from those media outlets. It's the basic reason why this country will for ever be screwed. You have politicians basically blaming the poor for being poor and most of their supporters and lackeys are lapping it up.

Yes it's bad which means people need to be all the more careful with their finances, make sensible informed decisions etc. Sure there are people who can't get a leg up, especially young people stuck in a rent loop that they can't escape and they have my full sympathy. But these aren't the people I'm talking about.

I don't and never had read the Daily Mail but thanks for trying to stereotype me.

 

[Feek]

I wonder if you could afford the same house at today's market prices as a 'low earner' (your words)??

Not even close to it, no.

 

[Roar87]

sorry I don't think you get it. even before we headed into what is going to be the biggest fiscal cluster, we have seen people were already behind the curve. Why do you think food bank usage rocketed in the last 5 or so years.

Sorry but the whole food bank thing is simply down to food banks existing, foodbanks were an idea that spread and are a popular form of charity, so people began using them. They weren't around for people to use previously, or people would have used them. Food banks aren't just a UK thing, millions of people use them around the world, including Germany, France, Belgium, etc. It isn't some thing the Tories did in the UK that made people need to use food banks more than anywhere else.

 

[moon man]

Surely no matter your circumstances... Becoming mortgage free must make you feel wealthy?

I guess some people have small. Mortgages throughout.

I remember zooplaing my parents first house. My mortgage must have been 4x more than mine at the least. It could have been 6x more depending on thier deposit!

I guess if you have that low a mortgage it. Won't make you feel rich paying it off.

My mortgage was 44 k 2003 but frantic overpayment meant £1200 some months,did it in 9 years ,profit meant I got this for cash ,boom
Psychologically it's a great feeling as well as financially ,I bought a then top of the range Panasonic plasma with my first free month and it's still my only tv

 

[413x]

My mortgage was 44 k 2003 but frantic overpayment meant £1200 some months,did it in 9 years ,profit meant I got this for cash ,boom
Psychologically it's a great feeling as well as financially ,I bought a then top of the range Panasonic plasma with my first free month and it's still my only tv

44k! Unbelievable! One can dream!

 

[Richie]

My mortgage was 44 k 2003 but frantic overpayment meant £1200 some months,...

Are you saying you over paid by £1200 (over and above the normal mortgage payment) or that this is what you paid some months for the mortgage?

 

[moon man]

Are you saying you over paid by £1200 (over and above the normal mortgage payment) or that this is what you paid some months for the mortgage?

some months if things were going ok also a small redundancy payment 2007 of 6k ish but that was mostly 3 months in lieu ,luckily nationwide had no penalties for overpayment

 

[wildman]

Yes it's bad which means people need to be all the more careful with their finances, make sensible informed decisions etc. Sure there are people who can't get a leg up, especially young people stuck in a rent loop that they can't escape and they have my full sympathy. But these aren't the people I'm talking about.

I don't and never had read the Daily Mail but thanks for trying to stereotype me.

YOu say "sure there are people that can't get a leg up" as if it's a minority and that the majority are just work shy, bone idle benefits scroungers. You are simply getting wound up about a small minority of people that are iresponsible, yet you talk like that's the majority, basically falling head first into the right wing narative created purely to stoke these kind of class tensions. Walk into any given foodbank and the majority of people in there are hardworking, proud individuals who want nothing more than what is right for their families but are basically being discarded and or labelled as shirkers by this government and the majority of people that voted these clowns in, this is why I said that it would appear the right wing media have done a great job on people such as yourself. This is exactly what the Tories and the right wing press want, they want these kind of class wars to detract from the god awful job of governance they have and are currently conducting. You say those people stuck in rent loops have your sympathy, they don't need your sympathy as that doesn't help them keep the lights on. What they need is a government that actually helps people rather than filling the pockets of their corporate paymasters.

 

[LuckyBenski]

It really shows the general population of this forum up that this thread is a discussion about being able to afford a house, when the opening article covers people who haven't got £500 cash to their name. As if home ownership is even remotely on those people's minds, as if it's even on their life plan for 20 years time. Here's the reality: if you can't save a few hundred quid, and trust me I've spent most of my life in that position, you're not worried about a deposit for a house. You're worried about what if a £100 bill comes around on a bad month.

 

[Devilman]

It really shows the general population of this forum up that this thread is a discussion about being able to afford a house, when the opening article covers people who haven't got £500 cash to their name. As if home ownership is even remotely on those people's minds, as if it's even on their life plan for 20 years time. Here's the reality: if you can't save a few hundred quid, and trust me I've spent most of my life in that position, you're not worried about a deposit for a house. You're worried about what if a £100 bill comes around on a bad month.

Which arguably goes hand-in-hand with house prices, both for those buying now or those stuck in the rent trap, exploited by landlords that have little regulation over their pricing or behaviours. If house prices had not been deliberately manipulated for decades by selling off a sizable chunk of the social housing we had, combined with a total lack to hold any developers to task on the promises made with regard to new builds by respective governments on both sides of the benches, then they could very easily have enough left over to start thinking about a mortgage, heck with higher house supply, prices and therefore mortgages would be cheaper and more easily obtainable.

While housing is not the sole cause of the issues people are facing, it is still arguably the most significant one by far. Just imagine if those people stuck paying £1000pm in a rent trap could get a mortgage instead for £500pm? Not only would they not have to worry about where the next £100 comes from, but they would even have the chance to actually own their own home! Shocking notion I know

 

[Zatoichi.uK]

YOu say "sure there are people that can't get a leg up" as if it's a minority and that the majority are just work shy, bone idle benefits scroungers. You are simply getting wound up about a small minority of people that are iresponsible, yet you talk like that's the majority, basically falling head first into the right wing narative created purely to stoke these kind of class tensions. Walk into any given foodbank and the majority of people in there are hardworking, proud individuals who want nothing more than what is right for their families but are basically being discarded and or labelled as shirkers by this government and the majority of people that voted these clowns in, this is why I said that it would appear the right wing media have done a great job on people such as yourself. This is exactly what the Tories and the right wing press want, they want these kind of class wars to detract from the god awful job of governance they have and are currently conducting. You say those people stuck in rent loops have your sympathy, they don't need your sympathy as that doesn't help them keep the lights on. What they need is a government that actually helps people rather than filling the pockets of their corporate paymasters.

I think it's you that's getting wound up mate. Go and have a beer or something and stop projecting your frustration on me.

 

[platinum87]

sorry I don't think you get it. even before we headed into what is going to be the biggest fiscal cluster, we have seen people were already behind the curve. Why do you think food bank usage rocketed in the last 5 or so years. You can't be frugal if frugal means your kids starve, your house is in perpetual darkness, cold and damp because you can't load up the meter. At this point i await for you to tell me that you can cook a meal for 13p like that idiot Tory MP was spouting...............

I don't know what your brand of politics is or your political views, but you do come across as someone that the daily mail / right wing press and media in general has done a good job on in pitting against others less well off in society. That branch of the media has really done its homework well and what we see now is the result. People basically rounding on each other saying it's their fault for not being frugal or being spend thrifts and then basing that purely on anecdotal evidence as that aligns with the steady drip feed they have been getting on a daily basis from those media outlets. It's the basic reason why this country will for ever be screwed. You have politicians basically blaming the poor for being poor and most of their supporters and lackeys are lapping it up.

Nothing can be achieved by discussing a group of people, i.e. poor, using foodbanks.

To see what is the problem, we must take one person, from said group, and do a detailed examination of their life, finances, spending, income, etc. Once we do that we would be able to conclude, its their fault.

Move to the next person, and keep going, you will find, the fault is never with the economy, the government, or Putin, or whatever company.