Uber Bears admit defeat over on hpc

benb76

Bangkok-Dave wrote: »

No it isn't. What makes you think that?
Don't you understand? We have had houses for years. This 0.5% lark is just a bonus for us. I was happily paying 6% only 2 years ago and never missed or even looked like missing a payment. Most people have been overpaying their mortgage and have knocked a chunk off.

I'll be gutted if rates went up but I could pay it.

You sound like one of these people they interview on the streets when rates go up 0.1%. Telling everyone you won't be able to manage paying an extra 10 quid a week.

Just not having a !!!!!! on a Friday night would save most people 100 quid a month. There is a long way to go before people will start missing mortgage payments.

Very good point. I had no problem making the monthly payments 3 years ago, the low IRs have just enabled me to make large overpayments during the past couple of years, so any return to the 5-6% is going to be no problem to me and any other average homeowner.

Graham_Devon

benb76 wrote: »

Very good point. I had no problem making the monthly payments 3 years ago, the low IRs have just enabled me to make large overpayments during the past couple of years, so any return to the 5-6% is going to be no problem to me and any other average homeowner.

RenovationMan

Cleaver wrote: »

This quote from the end of his post is interesting, especially the line in bold as it's a view I've never understood but seems to be around on this forum and certainly what I've seen from HPC (I've never been on the site, only seen threads mainly linked from mocking people on here).

What I find odd is equating home ownership with happiness and not owning a home with misery. I was happy when I was renting and I'm happy now as an owner, but this is because my happiness isn't really defined by whether I own or rent a house. I'm sure there are plently of people out there who own a stonking great house, either with or without a mortgage, and have very miserable lives for one reason or another.

I fully understand that there will be poeple out there who don't have the money to buy a house and that this causes frustration and upset, but does it really make someone 'miserable'? If it does I think you have to look at your life and get some perspective. Read a book, hang out with your friends and family, travel, do things you enjoy, take a qualification, volunteer, go paintballing... lots of things make you happy and I don't think owning a house is actually required for most people to have a good life.

Top post and absolutely true. A pile of stone or bricks doesnt make a home, its the people within it, regardless of whether its rented, mortgaged or owned.

benb76

Graham_Devon wrote: »

Er...thanks for that, but I'm afraid a picture of some bloke with his head in the sand makes no sense in the context of what I wrote. If you'd like to elaborate actual words, that'd be helpful.

Graham_Devon

benb76 wrote: »

Er...thanks for that, but I'm afraid a picture of some bloke with his head in the sand makes no sense in the context of what I wrote. If you'd like to elaborate actual words, that'd be helpful.

I did, you disagreed with those words and said "well I can pay, so it will be ok".

IveSeenTheLight

benb76 wrote: »

Er...thanks for that, but I'm afraid a picture of some bloke with his head in the sand makes no sense in the context of what I wrote. If you'd like to elaborate actual words, that'd be helpful.

It's ironic that some don't accept that many people managed to pay their mortgages in 2007 at higher rates and have benefited over the last three years of lower mortgage interest rates and have been able to pay off a further 3 years (12% in terms of a 25 year loan) of their mortgage.

The irony is that it's these people with their heads in the sand thinking the country will be knackered when interest rates rise.

Sure some may still find it hard due to their personal circumstances, but the reality is that likely there will be less affected when the rates rise that there were in 2007.

the other factor that is washed over is that the economy will be on a stronger foothold when interest rates rise and that many more people will be in a better situation than they are now, let alone from 2007 when that happens.

With many experts predicting at least another year of low rates, the number of people affected are likely to be less and less as time goes by.

benb76

IveSeenTheLight wrote: »

It's ironic that some don't accept that many people managed to pay their mortgages in 2007 at higher rates and have benefited over the last three years of lower mortgage interest rates and have been able to pay off a further 3 years (12% in terms of a 25 year loan) of their mortgage.

Exactly, although in my case (and plenty of others I know) I just kept the monthly repayments the same and made significant overpayments each month, as a result I've paid off over 20% of my original loan amount in the past 3 years. This alone has set me up nicely to pay off my mortgage about 10 years early, even if IRs rose by 5% again, but apparently I'm burying my head in the sand!

Aberdeenangarse

Bangkok-Dave wrote: »

Just not having a !!!!!! on a Friday night would save most people 100 quid a month.

So how much do you save if you don't have a Thai on a Friday night?

Sibley

So how much do you save if you don't have a Thai on a Friday night?

I'm knocking off a high maintenance one at the moment. I could probably afford a 10% rise in interest rates if I jacked her in.:(

bendix

As much as HPC fascinates and - at the same time - repels me, I can't help wondering what is the root of this forum's obsession with what is happening on another forum.

With the greatest of respect, if I wanted to know the ins and outs and ups and downs of HPC, I'd log in over there, not here.