| Mortgage rates are sure looking fun 07:25 - Jun 17 with 9184 views | DanTheMan |
https://www.bbc.co.uk/news/business-65925224
Comparing the current situation with 1989, when interest rates reached almost 15%, the Resolution Foundation predicted this year's rate rises would increase the cost of a typical mortgage by 3% of a typical household income, outstripping the 2.4% increase seen then.
Excellent stuff. Once again primarily people on the younger side taking the hit and people looking to buy being priced out. Dread to think what will happen to the rent market as well.
I'm amazed this isn't being talked about more widely. The interest rates in combination with house prices just constantly ballooning doesn't make any sense. |  |
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| Mortgage rates are sure looking fun on 11:20 - Jun 18 with 1419 views | J2BLUE |
| Mortgage rates are sure looking fun on 11:15 - Jun 18 by Kieran_Knows |
We’re on 1.41% until October 2026 and overpaying as much as we can afford, a) to help reduce our term but mainly b) if we get October 2026 and the rates are still high, we won’t have to find as much money (if anything) if our monthly payments go up. |
Yea that's a good idea. I hope to have mine paid off by that time although I have a flat, not a house so it's not my forever home. Still makes sense to get rid of the mortgage as soon as possible though. |  |
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| Mortgage rates are sure looking fun on 13:28 - Jun 18 with 1300 views | rgp1 |
Yes shocking isn't it. |  | | |
| Mortgage rates are sure looking fun on 18:17 - Jun 18 with 1186 views | bluelagos |
Was chatting to a couple of younguns the other day and the whole student loan thing sounds completely absurd.
To start with, they took out loans in good faith with certain interest rates and those rates have been moved a fair whack (for the post graduation period) - just increased and those with the loans paid no part in agreeing to it.
The amounts owed are so large it's genuinely obscene - like 60k for one of them - quite typical from what I was told.
And they seem just highly unlikely to get repaid as things stand. One of the youngsters has a well paying job, currently doing a PHD in Physics (being paid too) and has probably done 6 years post graduate work and said he'd reduced his overall debt by £2k.
Not properly looked into it - but does seem like the student loan company model is totally unsustainable. Don't know if these are govt guaranteed - but if they are - we are in for a shock when the terms (however long they are) come to an end as there's going to be huge outstanding debts and either we pick up the tab or the SLC goes bust - unless I am missing something? |  |
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| Mortgage rates are sure looking fun on 18:26 - Jun 18 with 1165 views | BanksterDebtSlave |
| Mortgage rates are sure looking fun on 18:17 - Jun 18 by bluelagos |
Was chatting to a couple of younguns the other day and the whole student loan thing sounds completely absurd.
To start with, they took out loans in good faith with certain interest rates and those rates have been moved a fair whack (for the post graduation period) - just increased and those with the loans paid no part in agreeing to it.
The amounts owed are so large it's genuinely obscene - like 60k for one of them - quite typical from what I was told.
And they seem just highly unlikely to get repaid as things stand. One of the youngsters has a well paying job, currently doing a PHD in Physics (being paid too) and has probably done 6 years post graduate work and said he'd reduced his overall debt by £2k.
Not properly looked into it - but does seem like the student loan company model is totally unsustainable. Don't know if these are govt guaranteed - but if they are - we are in for a shock when the terms (however long they are) come to an end as there's going to be huge outstanding debts and either we pick up the tab or the SLC goes bust - unless I am missing something? |
If I remember correctly then the article says the average debt is £45k.
Pretty sure they are covered by the tax payers/government. |  |
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| Mortgage rates are sure looking fun on 18:32 - Jun 18 with 1138 views | Herbivore |
| Mortgage rates are sure looking fun on 18:17 - Jun 18 by bluelagos |
Was chatting to a couple of younguns the other day and the whole student loan thing sounds completely absurd.
To start with, they took out loans in good faith with certain interest rates and those rates have been moved a fair whack (for the post graduation period) - just increased and those with the loans paid no part in agreeing to it.
The amounts owed are so large it's genuinely obscene - like 60k for one of them - quite typical from what I was told.
And they seem just highly unlikely to get repaid as things stand. One of the youngsters has a well paying job, currently doing a PHD in Physics (being paid too) and has probably done 6 years post graduate work and said he'd reduced his overall debt by £2k.
Not properly looked into it - but does seem like the student loan company model is totally unsustainable. Don't know if these are govt guaranteed - but if they are - we are in for a shock when the terms (however long they are) come to an end as there's going to be huge outstanding debts and either we pick up the tab or the SLC goes bust - unless I am missing something? |
It's not a great system for the universities either. |  |
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| Mortgage rates are sure looking fun on 10:40 - Jun 19 with 976 views | giant_stow |
I realise this is a mad thought, but might the Tory's call an early GE to accept a bad defeat now, rather than a party ending one later (once everyone with a mortgage is bvggered)? They might also get to blame Labour for a bit of the impending disaster that way too? [Post edited 19 Jun 2023 10:45]
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| Mortgage rates are sure looking fun on 10:52 - Jun 19 with 929 views | J2BLUE |
| Mortgage rates are sure looking fun on 10:40 - Jun 19 by giant_stow |
I realise this is a mad thought, but might the Tory's call an early GE to accept a bad defeat now, rather than a party ending one later (once everyone with a mortgage is bvggered)? They might also get to blame Labour for a bit of the impending disaster that way too? [Post edited 19 Jun 2023 10:45]
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I suspect they will look to line their own pockets and use their remaining time to serve the interests of whatever company will be employing them next.
Who cares if they get the blame when they are gone and working 12 days a year as an advisor to a hedge fund for a six figure salary? | |
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| Mortgage rates are sure looking fun on 10:58 - Jun 19 with 909 views | the_toff |
| Mortgage rates are sure looking fun on 10:40 - Jun 19 by giant_stow |
I realise this is a mad thought, but might the Tory's call an early GE to accept a bad defeat now, rather than a party ending one later (once everyone with a mortgage is bvggered)? They might also get to blame Labour for a bit of the impending disaster that way too? [Post edited 19 Jun 2023 10:45]
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Possibly. Or they don't even care about what tomorrow looks like while they're creaming from the state.
God forbid they actually invest and time in effort in helping the people they're meant to be serving. | | | |
| Mortgage rates are sure looking fun on 11:04 - Jun 19 with 881 views | Mookamoo |
| Mortgage rates are sure looking fun on 10:40 - Jun 19 by giant_stow |
I realise this is a mad thought, but might the Tory's call an early GE to accept a bad defeat now, rather than a party ending one later (once everyone with a mortgage is bvggered)? They might also get to blame Labour for a bit of the impending disaster that way too? [Post edited 19 Jun 2023 10:45]
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They might if it looks like they'll miss any of their 5 pledges.
You would imagine inflation will be below 5% at the end of the year, but as its not coming down as quickly as they had hoped, that might push borrowing over the edge. |  | | |
| Mortgage rates are sure looking fun on 11:13 - Jun 19 with 840 views | giant_stow |
| Mortgage rates are sure looking fun on 11:04 - Jun 19 by Mookamoo |
They might if it looks like they'll miss any of their 5 pledges.
You would imagine inflation will be below 5% at the end of the year, but as its not coming down as quickly as they had hoped, that might push borrowing over the edge. |
that sounds plausible. Blimey we're in trouble innit. | |
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| Mortgage rates are sure looking fun on 11:14 - Jun 19 with 839 views | Blueschev |
| Mortgage rates are sure looking fun on 11:04 - Jun 19 by Mookamoo |
They might if it looks like they'll miss any of their 5 pledges.
You would imagine inflation will be below 5% at the end of the year, but as its not coming down as quickly as they had hoped, that might push borrowing over the edge. |
Just so long as they stop the boats, that'll get inflation down. |  | | |
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