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real mortgage rates are not going down...
Comments
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ValuableYouth wrote: »Ah yes....sold up last autumn. Bought a lovely donkey market in Ulan Battor. Global warming apparently. Mongolians don't want cars, just donkeys. All the smart money is in donkeys. Ahead of the curve.
Did you know that Mongolian law decrees all donkeys must be named Geoff0 -
ringo_24601 wrote: »October is going to be hard year for me. Currently on a 4.49% fixed rate, IO mortgage.. was planning to move to repayments this year (300 quid step up) but the IO mortgage will probably cost that much when we come to remortgage.
Damn it, i've had 280 pound a month's worth of payrises since we bought this house 18 months ago.. now it's all going to be eaten up in extra mortgage payments. No more fun for Ringo
We'll get by, but i was looking forward to enjoying having disposable income for a while. Dunno how this will effect planning for starting a family.
October is a month not a year mate0 -
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I agree with you except on the gadgets bit.PasturesNew wrote: »Most things you buy in life cost the same, or cheaper, these days. Back in those days we didn't have cheap food, cheap clothes, cheap gadgets, cheap holidays (not if you're single though, grrr), cheap stuff, like there is these days. The overall cost of living was a lot higher.
13 years ago we didn't all have mobile phones (plus airtime contracts), computers (and broadband contracts), mp3players/ipods, games consoles, flat-screen TVs etc.
All these things have become ubiquitous now and are not seen as luxuries. So we are paying out a lot more, especially when you take into account monthly mobile phone and broadband bills that we simply didn't have back in the day.poppy100 -
I agree with you except on the gadgets bit.
13 years ago we didn't all have mobile phones (plus airtime contracts), computers (and broadband contracts), mp3players/ipods, games consoles, flat-screen TVs etc.
All these things have become ubiquitous now and are not seen as luxuries. So we are paying out a lot more, especially when you take into account monthly mobile phone and broadband bills that we simply didn't have back in the day.
Its simple, don't have Sky, or a mobile, or a flat screen TV, we simply do not need this stuff, it clutters our life."Wisdom doesn't automatically come with old age. Nothing does, except wrinkles. It's true, some wines improve with age. But only if the grapes were good in the first place." — Abigail Van Buren0 -
happinessfactory wrote: »You know how we keep hearing about this 'fixed rate timebomb' due to go off?
My sister's has exploded today.
She had a letter through from the building society this morning telling her her mortgage payments are going up from £801 to £1332 when she comes off the fixed rate in April.
Luckily she found and has been accepted for a more competitive rate elsewhere, but the best she was offered (and she's a doctor, so unlikely to find herself redundant any time soon) is still £211 more than she was paying before. On a typical London X4 mortgage where the salary is already very stretched, that's going to hurt.
How are people are going to manage? £211 extra a month is a lot for someone on a good salary to manage, never mind people on bigger multiples or with kids.
They should have thought about the future consequences of their actions before taking on such large debts. It's greed and short-sightedness that has made people bite off more than they can chew. Now they - not the taxpayer - will have to pay the consequences. :cool:0 -
ValuableYouth wrote: »I'm 87 now. Back in the day, I paid £14 6s and 4 1/2d for a splendid Cornish cottage, complete with a boy. Had to use cash in those days. Fortunately had a bit left over from selling the coolies on the family plantation. Got thripence each for them at the time. Not thoroughbreds. Can tell by the rump, apparently. Still, easier to deal with than the Nigerians. Tried to get one working in the tobacco fields once. !!!!!! kept going on about being Royalty. Told me he had 14 guineas in sack under a tree. If I gave him £2 for a shovel and the voyage home, he'd be back with half of the loot for me. Had to have him shot in the end. Bad for morale in the fields. Made a lovely ashtray.
Are you really 87? :T0 -
They should have thought about the future consequences of their actions before taking on such large debts. It's greed and short-sightedness that has made people bite off more than they can chew.
For some it might have been fear, not greed. Fear that they might never own their own house, as they thought prices only go up.RENTING? Have you checked to see that your landlord has permission from their mortgage lender to rent the property? If not, you could be thrown out with very little notice.
Read the sticky on the House Buying, Renting & Selling board.0 -
13 years ago we didn't all have mobile phones (plus airtime contracts), computers (and broadband contracts), mp3players/ipods, games consoles, flat-screen TVs etc.
I had a DX4. With a hard drive of 420mgs:D It cost me £1,200.00.RENTING? Have you checked to see that your landlord has permission from their mortgage lender to rent the property? If not, you could be thrown out with very little notice.
Read the sticky on the House Buying, Renting & Selling board.0 -
From the Egg thing, it looks like lenders are starting to look at the profitability of their customers. The worst thing for a lender of a mortgage is for the customer to default leaving them owing more than the value of the security.
It's not so good if they lend on a cc and the customer can't pay that back either. I wonder if any other cc lenders are also going to be trimming the fat.RENTING? Have you checked to see that your landlord has permission from their mortgage lender to rent the property? If not, you could be thrown out with very little notice.
Read the sticky on the House Buying, Renting & Selling board.0
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