Millions face £250 monthly mortgage rise next year

mi-key

I tend to agree with a lot of that. People these days seem to have to try and have some 'luxury' lifestyle ( maybe just for the social media likes ).  A new car every two years, designer clothes, £100 nights out every weekend and two holidays a year are not really essentials.

A lot of people have got used to this because their mortgage payments where low. Maybe cutting back and being a bit more frugal won't hurt...

sammyjammy

mi-key said:

I tend to agree with a lot of that. People these days seem to have to try and have some 'luxury' lifestyle ( maybe just for the social media likes ).  A new car every two years, designer clothes, £100 nights out every weekend and two holidays a year are not really essentials.

A lot of people have got used to this because their mortgage payments where low. Maybe cutting back and being a bit more frugal won't hurt...

Some people maybe.  My luxuries are things like a takeaway coffee when I am in work!

Gycraig

mi-key said:

I tend to agree with a lot of that. People these days seem to have to try and have some 'luxury' lifestyle ( maybe just for the social media likes ).  A new car every two years, designer clothes, £100 nights out every weekend and two holidays a year are not really essentials.

A lot of people have got used to this because their mortgage payments where low. Maybe cutting back and being a bit more frugal won't hurt...

Depends what kind of people you know I guess, I don’t know that many “well off” people so most people I know are thoroughly knuckling down now and buying next to nothing as there disposable income erodes in front of there face. 

People keep blaming interest rates, but our houses never would have got to these prices in the first place with sensible interest rates. 

The person earning enough to go on two holidays a year have designer clothes and spend 5k a year on nights out has plenty to cut back on. Plenty were already on the bone before everything went up. 

Gycraig

[Deleted User] said:

Gycraig said:

sevenhills said:

Aberdeenangarse said:

This is ghastly, absolutely ghastly! Add in inflation, increased energy prices and well below inflation pay increases, Many are really going to suffer.

Surely most people earn more than they spend on necessary items? Necessary items such as food, energy, housing ect but they will need to cut somewhere.
Less paid into their pension, fewer holidays, no branded goods, turn down the heating, less alcohol and heating out.
Is suffer really the correct word?

working just as hard to scrape by instead of living a good lifestyle for a good portion of people sounds like suffering to me. 

That's a luxury, i would say most live and scrape by.
As the previous poster alluded, holidays, branded goods, alcohol - those are luxuries and priorities should be made in relation to them aswell as other non essentials, once that's done it's surprising how much is left at the end of the week/month.

People should be able to live a good lifestyle though they shouldn’t have to go to work go home eat beans on toast in a cold house rinse and repeat. 

People could easily be 5-600 a month worst off than a few years which would have enabled a good lifestyle and now perfectly standard things are being looked at as luxury’s it’s rubbish frankly. 

So to reiterate I would say some peoples standard of living eroding to the point they now have to live like hermits is suffering. 

housebuyer143

Minimum wage has almost doubled in the last 13 years. I am certain things have gone up but I don't see them as having doubled? Things like council tax, water etc definitely haven't.
Food is still cheap and while I'm not getting any £1 Chicago town pizzas anymore, it's still cheap in the scheme of things, especially if you don't buy branded. 

Houses have shot up, this is true, but if wages have almost doubled then it's not unreasonable to think houses would too. Petrol as well. People going crazy as petrol is £1.5 a litre... It was over £1, 10 years ago, so that's really risen very very slowly.

I completely get some people struggle to live and at the moment I agree utility prices are ludicrous, but most people I feel should have a fair amount of income to cut back if needed. 

Spurs1711

It’s going up to £1000 on average, I’ll have some of that. Mine is going to be £1905 a month and it’s only a regular 3 bed semi lol. Some people really moan about nothing lol

Aberdeenangarse

Back in the ‘real world’ From todays ONS report.

Adults shiver as winter pressures rise

A quarter of adults in Great Britain weren’t able to consistently keep warm in their own living room over the last two weeks.

A new survey of the impact of winter pressures, from the Office for National Statistics, also found that over half of households cut back on energy use, such as heating.

The survey also found that 82% of people have been putting on more clothing or blankets to keep warm, while 31% have used hot water bottles or microwave warmers, while 27% have gone to bed earlier.

Here’s the details:

• Around a quarter of adults (23%) were occasionally, hardly ever, or never able to keep comfortably warm in their living room in the past two weeks.
  

• Over 6 in 10 (63%) adults reported using less gas and electricity because of increases in the cost of living, with more than 9 in 10 (96%) of these adults using the heating less.
  

• Around 1 in 3 (34%) of all adults reported that cutting back on heating their home has negatively affected their health or well-being.
  

• Around 1 in 6 (16%) adults were somewhat, or very, worried their food would run out before they had money to buy more, and 6% said their household had run out of food and could not afford to buy more.
  

• Around 1 in 5 (19%) adults reported eating smaller portions because of the rising cost of living, while 17% said they were eating food past its use by date.

  
  

  Perhaps someone ought to tell them to cut back on designer clothes and not change their cars every couple of years! ?

housebuyer143

Aberdeenangarse said:

Back in the ‘real world’ From todays ONS report.

Adults shiver as winter pressures rise

A quarter of adults in Great Britain weren’t able to consistently keep warm in their own living room over the last two weeks.

A new survey of the impact of winter pressures, from the Office for National Statistics, also found that over half of households cut back on energy use, such as heating.

The survey also found that 82% of people have been putting on more clothing or blankets to keep warm, while 31% have used hot water bottles or microwave warmers, while 27% have gone to bed earlier.

Here’s the details:

• Around a quarter of adults (23%) were occasionally, hardly ever, or never able to keep comfortably warm in their living room in the past two weeks.
  

• Over 6 in 10 (63%) adults reported using less gas and electricity because of increases in the cost of living, with more than 9 in 10 (96%) of these adults using the heating less.
  

• Around 1 in 3 (34%) of all adults reported that cutting back on heating their home has negatively affected their health or well-being.
  

• Around 1 in 6 (16%) adults were somewhat, or very, worried their food would run out before they had money to buy more, and 6% said their household had run out of food and could not afford to buy more.
  

• Around 1 in 5 (19%) adults reported eating smaller portions because of the rising cost of living, while 17% said they were eating food past its use by date.

  
  

  Perhaps someone ought to tell them to cut back on designer clothes and not change their cars every couple of years! ?

Stats out of context could say anything. What were the results of a similar survey 10 years ago? 
It's cold, I'm not surprised people are putting on more clothes, goes without saying even if you can afford heating. I always use hot water bottles between Nov and march, is this a new phenomenon? 
The past 2 weeks have been snow and constant minus conditions. Even with the heating on, many will still be uncomfortable in their house, it's hard to heat a house with such cold weather outside.

There will always be a percentage of people in society that struggle, they did so a decade ago and they do so now, but the question is, how much more expensive is everything now compared to the average and min take home pay than it was previously?

dunstonh

The survey also found that 82% of people have been putting on more clothing or blankets to keep warm, while 31% have used hot water bottles or microwave warmers, while 27% have gone to bed earlier.

So, in a period when temperatures fell significantly, more people put on a jumper or blanket on the bed.     I got out my heaviest jumper in the last few weeks. I didn't need it once last year.   

Over 6 in 10 (63%) adults reported using less gas and electricity because of increases in the cost of living, with more than 9 in 10 (96%) of these adults using the heating less.

That is good to hear.  People are taking action to reduce their energy use.  All very sensible.

Around 1 in 3 (34%) of all adults reported that cutting back on heating their home has negatively affected their health or well-being.

That figure seems far too high.  However, some people are just so weak nowadays that reducing their temperature from 25c to 24c would be the end of the world for them.

coypondboy

The big unknown is how far house prices will fall as if you bought in last 2 yrs expect them to be lower than waht you paid and if you overstreched to outbid the others as happened in the first 6 mths of this year in many parts of the country when you come off your fixed rate you may end up on the lenders SVR which will be 7-8% by end of next year.  If 2 incomes needed to pay the bills no help if one of you loses your job.