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Debate House Prices


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Low Interest rates

24

Comments

  • ad9898_3
    ad9898_3 Posts: 3,858 Forumite
    chucky wrote: »
    how can you tell they're all on mortgage trackers or SVR's? :D

    They are all getting out of 09 plate cars.:D
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Gangstabird wrote: »
    Am I alone in knowing many people, some with BTL's (interest only) and lots with tracker mortgages who are saying 'Recession, what recession', I am only paying xxx now when last year I was paying YYYY'.

    It all seems to good to be true. When the interest rate goes back up and I am sure it must as the banks are losing out and will not be happy with this for long.

    I am no financial expert, but will this cause the biggest bit of the recession or not?

    The majority of people are on fixed term deals so will need to remortgage at some point.

    Maybe cash in the pocket rich , but lost capital forever. I know which I'd prefer to be. As with rising tax rates imminent , it'll be a double squeeze on take home pay if interest rates rise too.

    If you lose your job , or the main local employer closes. Then the recession becomes real not something which is affecting everybody else.
  • mewbie_2
    mewbie_2 Posts: 6,058 Forumite
    1,000 Posts Combo Breaker
    ad9898 wrote: »
    They are all getting out of 09 plate cars.:D
    Not so many new cars around now as equity withdrawal and credit dry up. This is going to be the mother of all Xmas hangovers (paying back the debt).
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    mewbie wrote: »
    This is going to be the mother of all Xmas hangovers (paying back the debt).

    that's what they were saying last christmas... and the one before....
  • mewbie_2
    mewbie_2 Posts: 6,058 Forumite
    1,000 Posts Combo Breaker
    chucky wrote: »
    that's what they were saying last christmas... and the one before....
    Glad you agree. Looks like you're finally learning stuff on here. The debt still hasn't gone away, it still needs to be paid off, it will be many more Xmas's before it is dealt with.

    And boy does a giant mortgage debt last a long time, when the house you bought isn't rising in price anymore.
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    chucky wrote: »
    that's what they were saying last christmas... and the one before....

    and i'm still waiting for it happen :rotfl::rotfl:
  • neil324
    neil324 Posts: 460 Forumite
    Dan: wrote: »
    We will be out of recession when rates go back up to where they were.

    Only if inflation and the gilt market plays ball.
  • mewbie_2
    mewbie_2 Posts: 6,058 Forumite
    1,000 Posts Combo Breaker
    chucky wrote: »
    and i'm still waiting for it happen :rotfl::rotfl:
    Incomprehensible - even by your standards. You're still waiting for the debt to be paid off? er.. did you not understand the simple interchange between us there, in two posts?
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    mewbie wrote: »
    Incomprehensible - even by your standards. You're still waiting for the debt to be paid off? er.. did you not understand the simple interchange between us there, in two posts?

    oh i did
    mewbie wrote: »
    his is going to be the mother of all Xmas hangovers (paying back the debt).
    chucky wrote: »
    that's what they were saying last christmas... and the one before....
    chucky wrote: »
    and i'm still waiting for it happen :rotfl::rotfl:

    so i'm still waiting for that "mother of all Xmas hangovers"
  • chupov
    chupov Posts: 53 Forumite
    mewbie wrote: »
    Glad you agree. Looks like you're finally learning stuff on here. The debt still hasn't gone away, it still needs to be paid off, it will be many more Xmas's before it is dealt with.

    And boy does a giant mortgage debt last a long time, when the house you bought isn't rising in price anymore.


    ten more months of rises like last month and were good to go!
    Maybe tomorrow, better today
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