U.K. Households Step Up Debt Repayments

Really2

Wookster wrote: »

Do you seriously think people are happy with such news?

Post two on this thread is fairly typical.
http://forums.moneysavingexpert.com/showthread.html?p=17597891#post17597891

I think you know what some posters are like.

mr.broderick

Really2 wrote: »

Post two on this thread is fairly typical.
http://forums.moneysavingexpert.com/showthread.html?p=17597891#post17597891

I think you know what some posters are like.

Wouldn't have thought it would have needed to be justified, there are some evil people on these boards, they'll get what's coming to them.

chucky

mr.broderick wrote: »

Wouldn't have thought it would have needed to be justified, there are some evil people on these boards, they'll get what's coming to them.

i think they've already had it come to them - you can tell by the way they dislike others who have done something with themselves; some people do have some serious personal issues

ManAtHome

I wonder how much of this is 'tracker cash' - total mortgage debt £1,200 billion, 5% drop in interest rates (supposedly around 4 million trackers, haven't seen any total value numbers though). Personal debt, although dropping sharply has still increased by £34 billion over the last year (+2.6%). http://www.creditaction.org.uk/debt-statistics.html

pickles110564

ManAtHome wrote: »

I wonder how much of this is 'tracker cash' - total mortgage debt £1,200 billion, 5% drop in interest rates (supposedly around 4 million trackers, haven't seen any total value numbers though). Personal debt, although dropping sharply has still increased by £34 billion over the last year (+2.6%). http://www.creditaction.org.uk/debt-statistics.html

I only have 4 Tracker Mortgages but with the lowest at 1.05% I am able to pass some back to the tenants and still save like mad.

Really2

ManAtHome wrote: »

I wonder how much of this is 'tracker cash' - total mortgage debt £1,200 billion, 5% drop in interest rates (supposedly around 4 million trackers, haven't seen any total value numbers though). Personal debt, although dropping sharply has still increased by £34 billion over the last year (+2.6%). http://www.creditaction.org.uk/debt-statistics.html

Total UK personal debt at the end of February 2009 stood at £1,458bn. This has slowed further to 2.6% in the last 12 months which equates to an increase of ~ £34bn (the increase was ~£116bn in January 2008).

Looks like it will be steeply nagative very soon based on those figures.

ManAtHome

Really2 wrote: »

Total UK personal debt at the end of February 2009 stood at £1,458bn. This has slowed further to 2.6% in the last 12 months which equates to an increase of ~ £34bn (the increase was ~£116bn in January 2008).

Looks like it will be steeply nagative very soon based on those figures.

Very soon? Based on Semefree2's numbers (increased savings of £31b in q3/4), gross increase in debt over the last year must have been at least £65b, so did we have a massive increase of £65b in q1/2 then a dead stop?

Seems more likely to me that things may balance out to a marginal increase or reduction in debt (disregarding bankruptcy write-offs) - still means that some people are sinking further/faster, and overall spending will continue downwards.

FungusFighter

pickles110564 wrote: »

I only have 4 Tracker Mortgages but with the lowest at 1.05% I am able to pass some back to the tenants and still save like mad.

Are you sure about that mate? Cos eslewhere you've said you have one BTL and you've had to drop you're rent :rotfl:
Also not sure co-op divvi counts as saving mate;)

Wookster

Really2 wrote: »

I think you know what some posters are like.

Yup - dithering dad is a truly odious poster.

Really2

ManAtHome wrote: »

Very soon? Based on Semefree2's numbers (increased savings of £31b in q3/4), gross increase in debt over the last year must have been at least £65b, so did we have a massive increase of £65b in q1/2 then a dead stop?

Seems more likely to me that things may balance out to a marginal increase or reduction in debt (disregarding bankruptcy write-offs) - still means that some people are sinking further/faster, and overall spending will continue downwards.

£116BN increase down to a £34BN Increase must mean there is some nagative months in there so give it a few months and YOY will go negative.;)