U.K. Households Step Up Debt Repayments

pickles110564

FungusFighter wrote: »

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;)

Broders, do your research better please.

Thrugelmir

Really2 wrote: »

I seem to remember a few months ago people said house prices need to fall and the debt needs to be paid back.

All that is happening and apparently it's still not good news?
Is this not helping to recapitalize the banks.

Some people only seem to be happy with job losses and repos.

It won't only recapitalise the banks. The repaid money ( lent at low rates of interest originally) can be relent at far higher rates! The banks' consumer arms must be laughing all the way the ......... Time to buy bank shares? :rolleyes:

System

I'll be clearing 11k of my capital in May and securing a nice juicy long term fix at a historically super low rate.

Then I'm going on a spending spree.

I'm helping the economy in every way 8)

Thrugelmir

Joeskeppi wrote: »

I'll be clearing 11k of my capital in May and securing a nice juicy long term fix at a historically super low rate.

Then I'm going on a spending spree.

I'm helping the economy in every way 8)

What do you regard as a "super low rate" ? Fixed rates are drifting upwards plus arrangement fees add % to the cost.

chucky

Wookster wrote: »

Yup - dithering dad is a truly odious poster.

why do you say that Wookie?
DD posts lots of good information - just because you don't agree with him there is no need to speak like that

bluey890

chucky wrote: »

why do you say that Wookie?
DD posts lots of good information - just because you don't agree with him there is no need to speak like that

DD out debated wookieboy. now wookies lashing out.
whatever you do - dont beat wookie in a game of chess

tomterm8

LauraW10 wrote: »

I've started to notice serious drops in prices in my supermarket. Chicken is a fifth less than it was just a few weeks ago and also cereal has fallen a lot too..

I don't know where people are finding inflation, I'm not finding it anywhere

thats astonishing, I've been noticing that when I do my supermarket shopping the prices are actually rising at a fast clip at the moment.

Dithering_Dad

Now I wonder what I have ever done to wookie for him to attack me out of the blue like that. I could understand if it was !!!!!!?, but wookie? Why, we've never even had crossed words.... hmmnnn, hold on a moment!!!!

By the way, interesting that wooky's only 'thanks' for that nasty post came from !!!!!!?'s special friend...

Shame really that some people just can't 'let it go' even after most of us are trying to have a new start after the threats to move the board. Shame some people can't make a new start even when they change their username.

tomterm8

carolt wrote: »

Of course it's the highest figure ever! It's not happened for donkeys years, and prices are way higher than whenever it last happened - (did it ever)?

So of course it's the biggest figure.

But given how much interest rates have fallen - we're talking lowest rates for hundreds of years here! it would be pretty weird if it didn't make an impact.

I'd just expect it to be higher.

If all those people with their 1p mortgages aren't paying off capital now, what the bleeding heck are they doing with it?!

I would assume they are paying back unsecured debt. The most effective way to save at the moment is to pay off credit card debt, or similar forms of revolving debt. That's why I think the household savings rate is probably wrong. People are paying off the most expensive debt first.

Dithering_Dad

mewbie wrote: »

Is this a joke? Very few will have managed to pay off morgage as fast as prices are dropping, that's what happens with massive geared borrowing - which is what a mortgage is.

That's not the case with many people on the MFi3 challenge (on the MFW board) mewbs.



Plenty of overpayments there that are way beyond the percentage losses since the start of the HPC.

(reproduced without the kind permission of TallGirl - Hope you don't mind TG!!)