Mortgage deal ending

[Mr Kobayashi]

I might subscribe to Netflix just to watch his film. Something tells me just to like the guy. He started with nothing.

Will you still be able to afford your mortgage though...

 

[denislawsbackheel]

Seen that film.
Quite sad really.
He naively had great intentions but the system stopped him, in some cases necessarily, in others spitefully.

 

[BlueHammer85]

So if first time buyers … don’t buy … because of interest rates

Then interest rates would be forced to drop?

 

[DunfermlineBlue]

So if first time buyers … don’t buy … because of interest rates

Then interest rates would be forced to drop?

Doubt it, don’t know too much about it but interest rates are rising to stop/ease inflation going up so much. Which is fuelled by gas/electric , oil and food prices etc

 

[denislawsbackheel]

So if first time buyers … don’t buy … because of interest rates

Then interest rates would be forced to drop?

No, the interest hike will have worked - stopping spending.

 

[BerkshireBlue]

This country's obsession with home ownership is the underlying problem. As with so many things in England, it's partly a class thing. Renters, and particularly council house dwellers are looked down on. So everyone wants (in principle) to buy a house, the bigger the better.

We don't buy houses just to live in but to make money. This has been a good gamble for years. My house was 64500 when I bought it and is now, theoretically, worth over 300k. An increase well above inflation, or salary levels. Great, but common sense tells you this cannot go on in perpetuity. There has to be some reasonable ratio between a typical salary and the price of a typical house. We are already stretching things to the limit. Mortgages to age 80? You'd better have a fucking good pension, and such pensions aren't as common as they once were.

We, as a country, invest far too much in houses and not nearly enough in industry. This is a bit like spending £400 a week on bread and 25p on milk. It's just not rational.

The problem is there is a dire shortage of affordable rental properties with secure tenancies. So the only way to be secure is to buy. Until some government cottons onto this and promotes the obvious answer, this impossible spiral in housing will continue.

bang on the money

 

[BlueHammer85]

Phew.


Mortgage lenders and Chancellor Jeremy Hunt have agreed that people should be given a 12-month break before repossession proceedings start amid soaring interest rates.

After the rise of the base rate to 5%, Mr Hunt met with leaders of financial institutions including Lloyds, NatWest, Barclays and Virgin Money.


They agreed that the repossession break should be introduced.

 

[Kompany Car]

So if first time buyers … don’t buy … because of interest rates

Then interest rates would be forced to drop?

Only two things will cause interest rates to fall in the next year.

1. Inflation drops to nearer the target value of 2.5%.

2. The country enters a recession and cheap money is needed to stimulate the economy.

 

[MCFC Wirral]

Will you still be able to afford your mortgage though...

I live on The Wirral for a reason. I’m glad I didn’t mortgage in the end given last year’s cancer scare. I wasn’t working permanently and had a massively reduced income.

Thanks for your concern, nevertheless.

 

[Mr Kobayashi]

I live on The Wirral for a reason. I’m glad I didn’t mortgage in the end given last year’s cancer scare. I wasn’t working permanently and had a massively reduced income.

Thanks for your concern, nevertheless.

Whoosh.

Boomers Reckon Young People Should Stop Paying For Netflix And Takeaways If They Want To Buy A Home

Baby boomers have handed down some sage advice for younger generations: Stop forking out for Netflix and Uber Eats if you want to buy a home.

www.ladbible.com