Is London ready for the Big Squeeze?

Sir_Humphrey

Fabric's about to go bust again?

fc123

Sir_Humphrey wrote: »

Fabric's about to go bust again?

I forgot to comment on that bit.....I/m thinking that Fabric going bust isn't a definitive sign of Londoners giving up clubbing and cutting back.

Really2

Sir_Humphrey wrote: »

Fabric's about to go bust again?

Don't buy tight trousers then.

jonewer

danielanthony wrote: »

Erm, where are all these 0.5% mortgages everyone is talking about?

I got my mortgage last year as an FTB with 10% deposit at 5.49% (variable) with Britannia.

Quite. Mortgage rates dont seem drastically different from those seen in 2007. Theres been an uncoupling between interest rates and mortgage rates (bar those on pre-crunch trackers).

Something does tell me though that as soon as the BoE raises rates by .25%, then most banks will spank on another 0.3-0.5% so fast it will make your head spin.

silvercar

danielanthony wrote: »

Erm, where are all these 0.5% mortgages everyone is talking about?

I got my mortgage last year as an FTB with 10% deposit at 5.49% (variable) with Britannia.

You got your rate when mortgages were in short supply and you had only a 10% deposit. The gap between base rates and SVR (the standard variable rate often used for comparison) is relatively high at the moment. Had you bought a few years ago the difference between base rate and SVR was much lower.

new_home_owner_3

@carolt and brit1234, im starting to get this song ringing in my ears, im sure its got something to do with your post's..............;)

http://www.youtube.com/watch?v=Qj1heGiIehU&feature=related

carolt

Only if you're a newhomeowner.

For us nonhomeowners, it's a great song.

JoeCrystal

Just wondering, what is most common interest rate for mortgages for last thirty years... It just occurred to me that if you might as well get a mortgage then surely, you should be able to afford the mortgage if it gone up to the high interest rate?

Generali

JoeCrystal wrote: »

Just wondering, what is most common interest rate for mortgages for last thirty years... It just occurred to me that if you might as well get a mortgage then surely, you should be able to afford the mortgage if it gone up to the high interest rate?

I would guess that the average over time would be inflation + 1.5% (to get to the base rate) + 1.5% (spread over the base rate).

Average RPI over the past 30 years? The NSO will have it but my internet connection has been 'shaped' so I can't look it up. At a guess 6% so 9% mortgage interest rate? Pretty rough and ready calculation I admit but the best we have so far.....

puddy

i didnt find the article funny, those people mad me feel really angry, but i suppose it puts my concerns about money worries into perspective and my attempts at money saving.

there are constant arguments in this house about shopping because i feel that my OH is not clued up enough on how to shop in a clever way.

for example, i have known him to be convinced that 4 breaded haddocks in the frozen section where it says 'buy 2 for £5' has to be better value than buying an individul pack of identical sized product for £2 for 4. He simply cant believe that they would put something as a 'special offer' when its more expensive than the neighbouring product.

anyhow, the point is, i got a bit upset with him this week because he went and bought an asda 'extra special' bolognese sauce in a jar for 87p when I know that i could have made it much cheaper using chopped toms for about 40p or so. plus without all the sugar and salt in jar made products.

forget bluddy parma ham and eating out. the last time we ate out was about 2 weeks ago at a local cheapy pub for sunday lunch and that scuppered our budget for the following 2 weeks!!!

but thats maybe because we're on a 4.89 fixed rate for the next 100 years or whatever it is and im just jealous that we havent been able to take advantage of all these low rates