Mortgage deal ending

[supercity88]

My 2 year fixed comes to an end in march 23. I’m paying £860 now but to fix again with NatWest will be £1215 pm. If I move to a tracker it’ll be just over £900 ish.I’ve got 17 years left to pay it and I’ll be touching 70. I wish I had a time machine.

I got lucky and managed to fix at 2.26% for 5 years. I took that mortgage offer in June and have had to wait until Monday to complete because of an early repayment charge. The BoE had just raised rates by 0.25% and I was whingeing to the Mrs about how we kept hitting bad timing. We'd missed the stamp duty relief for first time buyers and bought our next house before covid so missed the stamp duty holiday then too! But 5 months later my god I'm not whingeing. The same mortgage now would be 5.5% and cost me £800 more a month because I'm borrowing so much.

I'm going to do my best to overpay so I don't get stung in 5 years but I feel for those out there who get hit by these rates. Funnily enough my wife would have had to quit her job for us to afford that extra £800 a month as we pay more than that in childcare for 3 days a week that she works! She only earns £20 a day net at the moment but gets good perks and when the youngest is in school full time in a few years she'll obviously make a lot more.

Feel for those in worse situations who don't have such an "easy" answer. You've got a lot of working people out there who are considerably worse off than those on benefits which shows how broken the system is. Nurses having worked their arses off during the pandemic getting paid fuck all, having to pay to park at the hospital they work in and not being able to afford their mortgage/rent/food/heating whilst they could just sit on benefits and be sorted.

 

[flook]

In Canada a guy got pissed up needed a ambulance cost him 300 quid for it

Whilst Canada does provide free health care for some conditions/services, it's not comparable to our NHS. Each province in Canada has its own list of what it treats for free and what you require private insurance medical for. (Assuming you don't have the cash to pay yourself).

 

[denislawsbackheel]

My 2 year fixed comes to an end in march 23. I’m paying £860 now but to fix again with NatWest will be £1215 pm. If I move to a tracker it’ll be just over £900 ish.I’ve got 17 years left to pay it and I’ll be touching 70. I wish I had a time machine.

You can get an offer at todays rates that will be valid for 6 months even if rates go up again. You don’t have to take it when the time comes if rates fall.

 

[give it to gordon]

I am missing something here the rate is only 3% under Thatcher it was 16%

 

[denislawsbackheel]

16% on £40K then
3% on £250K now.

You do the maths…

 

[Gabriel]

 

[gandalfthebrave]

The slow car crash that is brexit feels like it’s speeding up. The crazy thing is no one wants to talk about what a fuck up it’s been and we are ploughing on regardless expecting business to export with all the red tape they have to jump through just to get goods out of the country. How are supposed to stop an economy flat lining when the money coming in from exporting is falling? We need to be back in the single market, trouble is various Tory governments has pissed off the Eu that much they’d tell us to go shove it.

What red tape is there that businesses have to jump through post-Brexit just to get goods out of the country?

A large part of my firm’s revenue is export driven (this year being our busiest year ever for exports due to the weakened pound). But I’ll be honest, we’ve not had to jump through any red tape to get goods out of the country.

 

[Mr Kobayashi]

What red tape is there that businesses have to jump through post-Brexit just to get goods out of the country?

A large part of my firm’s revenue is export driven (this year being our busiest year ever for exports due to the weakened pound). But I’ll be honest, we’ve not had to jump through any red tape to get goods out of the country.

Which sector do you work in?

We are no longer part of the single market so certain goods and services are subject to tariffs.

If you export food made from animal produce it needs to be inspected and approved by a vet before it leaves the UK.

 

[blue cigar]

Nope. Some may even argue Sunak's COVID giveaways were more akin to what you would expect from a Labour chancellor, in terms of ideology?

The Democrats in America are also cutting to the bone and people are hurting through inflation and higher gas prices.

I don't see this as lines drawn over ideology, more an inevitable financial reality , with incompetence thrown in.

Referring back to my original post and getting a ten-year fix...

I'm no economist, don't even have GCSE Maths, yet my own reasoning and rationale for doing so was because the public were desperate to spend after two years being locked up.

All this has been inevitable. Kicking the can down the road was brought to a halt by that dunce, Truss.

Brexit is an ideology that has cost many billions, entirley avoidable. Track and trace at 37 billion is a waste, another poor decision made by this government that has set the country back many years, that's without the billions wasted on dodgy ppe deals.

 

[Bill]

I got lucky and managed to fix at 2.26% for 5 years. I took that mortgage offer in June and have had to wait until Monday to complete because of an early repayment charge. The BoE had just raised rates by 0.25% and I was whingeing to the Mrs about how we kept hitting bad timing. We'd missed the stamp duty relief for first time buyers and bought our next house before covid so missed the stamp duty holiday then too! But 5 months later my god I'm not whingeing. The same mortgage now would be 5.5% and cost me £800 more a month because I'm borrowing so much.

I'm going to do my best to overpay so I don't get stung in 5 years but I feel for those out there who get hit by these rates. Funnily enough my wife would have had to quit her job for us to afford that extra £800 a month as we pay more than that in childcare for 3 days a week that she works! She only earns £20 a day net at the moment but gets good perks and when the youngest is in school full time in a few years she'll obviously make a lot more.

Feel for those in worse situations who don't have such an "easy" answer. You've got a lot of working people out there who are considerably worse off than those on benefits which shows how broken the system is. Nurses having worked their arses off during the pandemic getting paid fuck all, having to pay to park at the hospital they work in and not being able to afford their mortgage/rent/food/heating whilst they could just sit on benefits and be sorted.

this post has made me sad . i so wish you well.