Westminster Politics

Our fixed rate ends next June. I think it will increase about 30% compared to what we are paying now if interest rates are what they were two weeks ago when I looked at what the rise might be.

I reckon we will go interest only for a little bit to see if things calm down, which would actually be a reduction, and then see if we can overpay that. Not ideal but better than really struggling financially.
 
cafecillos said:
I find this rhetorical gimmick particularly infuriating. It's stunning how stupid they think their "readers" are.
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Their MPs are as bad too. Remember this?



Fluctuation0161 said:
Absolutely.

Those examples of business which are struggling are not the main drivers for inflation. Those with ridiculous corporate profit like the energy companies are.
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There have been many drivers of inflation, which is one of the reasons it has been so stubborn. People spending record savings from the pandemic when supply chains were nearly broken, massive energy price hikes, huge food price inflation from loss of Ukraine output and soaring fertiliser costs from the war, plus bad weather. Tight labour markets with loads retiring, eg US, or long-term sick in the UK and lack of new workers, housing costs etc....It's pretty galling, if not unexpected, to see corporate profiteering exacerbating the issues though.

On a brief visit to the UK the other week I could see supermarket shelves were a bit sparse in places, prices were higher than I remembered and plenty of shrinkflation of goods evident.
 
Drainy said:
According to James O'Brien, while she was the secretary of state for media she tried calling his employer to get him sacked for criticising her and Bodger..

Keep dabbing on her
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It's funny how she cites her background as why it's not right that she can't be in the Lords, except she has dropped her accent entirely and represents a party that has systematically targeted Liverpool as a place allowed to decline into poverty for decades
 
If there is any justice in this world, these grifters won't end well.
 
FireballXL5 said:
How's your blood pressure? Just watch this imbecile.

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Another case of showing how little politicians know about the things they should know about in the positions they're in. Disturbing how these moronic cnuts get positions above their station time and time again.
 
Jippy said:
Their MPs are as bad too. Remember this?




There have been many drivers of inflation, which is one of the reasons it has been so stubborn. People spending record savings from the pandemic when supply chains were nearly broken, massive energy price hikes, huge food price inflation from loss of Ukraine output and soaring fertiliser costs from the war, plus bad weather. Tight labour markets with loads retiring, eg US, or long-term sick in the UK and lack of new workers, housing costs etc....It's pretty galling, if not unexpected, to see corporate profiteering exacerbating the issues though.

On a brief visit to the UK the other week I could see supermarket shelves were a bit sparse in places, prices were higher than I remembered and plenty of shrinkflation of goods evident.
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Energy prices are the number one driver. They impact processing raw materials and every single household/business premises. This is pure profiteering from the energy companies. Hence corporate profits driving inflation

Food prices are number 2- but in most cases this is genuine increase in production costs.
 
Pexbo said:
My mortgage is up for renewal in February. Joy.
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You have my sympathy. My daughter mortgage has gone up from £195 to £582/month. And she had managed to overpay so her loan was smaller.
Any idea what yours is likely to be?
 
Drainy said:
Sunak in PMQs today was just pathetic.
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And Boris Johnson is loving the chaos he is causing.
He will be praying for a large Labour majority at the next election. And then in a few years time with come back like a knight in shining armour saying that only he can lead the Tories to a future election win.
 
Buster15 said:
You have my sympathy. My daughter mortgage has gone up from £195 to £582/month. And she had managed to overpay so her loan was smaller.
Any idea what yours is likely to be?
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I think it’s going to be somewhere between 500 and 700 a month more.
 
Pexbo said:
I think it’s going to be somewhere between 500 and 700 a month more.
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And every time you have to pay that, you will see Liz Truss face on every pound note.
And now the government are blaming too high wage growth....as if that can be having any effect yet.
Food inflation 20% versus wage inflation of just over 6%. And Jeremy Hunt is now saying that interest rates must rise in order to curb wages growth which is driving inflation.
 
Buster15 said:
And every time you have to pay that, you will see Liz Truss face on every pound note.
And now the government are blaming too high wage growth....as if that can be having any effect yet.
Food inflation 20% versus wage inflation of just over 6%. And Jeremy Hunt is now saying that interest rates must rise in order to curb wages growth which is driving inflation.
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Wage inflation is a response to this not a cause.

If there was no wage inflation, people would be in food and energy poverty having to sell their houses and rent where? Certainly nowhere that will be cheaper than their mortgage was that’s for sure.
 
Pexbo said:
Wage inflation is a response to this not a cause.

If there was no wage inflation, people would be in food and energy poverty having to sell their houses and rent where? Certainly nowhere that will be cheaper than their mortgage was that’s for sure.
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In my understanding is a response and a cause till it stabilizes. Inflation causes wage inflation that causes inflation that causes wage inflation etc...the policies implemented has to accomplish that the ripple effect is having smaller increases every time (next inflation cycle being smaller than before that causes a smaller wage inflation cycle and so on) in opposition falling to an increasing spiral out of control of inflation - wage inflation.

In any way, we will get screwed because as we could see, energy companies and food companies had benefit records as they used the real inflation to inflate the prices even more for pure greed. screwing us over
 
SilentWitness said:
We are looking for a house at the moment to buy but don’t know what is the right answer in terms of waiting it out or just taking the plunge.
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If you are in a situation that you can save in… wait. Might be a long time too.

Signing up for 5%+ mortgages and fixing for multiple years (as lenders are currently advertising) is very expensive.

Any decent independent mortgage advisor will give you better advice, but unless you’re in a situation where rent is costing what a mortgage would, waiting is wise.
 
Buster15 said:
And every time you have to pay that, you will see Liz Truss face on every pound note.
And now the government are blaming too high wage growth....as if that can be having any effect yet.
Food inflation 20% versus wage inflation of just over 6%. And Jeremy Hunt is now saying that interest rates must rise in order to curb wages growth which is driving inflation.
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There is no wage growth. There hasn’t been for ages. A bunch of reports came out recently. Wages are still (as an average) where they were a decade ago.

The UK is in a perfect storm. A localised global bubble that is going to explode more than pop.

Landlords are seeing rate increases and passing them on. People won’t be able to pay past a certain point.

My own mortgage would have gone from £1900 to £4400 without securing a new deal. Anyone over-leveraged (ie dickhead landlords) won’t be able to remortgage everything at rates that they can survive.

It’s going to be a destructive time for the UK. We need bankrupt landlords. But we also have multi millionaire outsiders willing to add a few hundred Properties to their portfolios and wear the cost for 5 years.

The market is fecked. By design.
 
9am privileges comitee report released and also premier league fixtures. And ashes start today. News overload.
 
Pexbo said:
My mortgage is up for renewal in February. Joy.
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If it looks like they'll keep going up and up you can get in earlier, ours was up in Feb this year but we agreed a mortgage 6 months before at 3.15 percent and when it came up in Feb Halifax honoured the agreement.

EDIT: If you agree one months in advance you can always pull out if interest rates start to fall closer to the date of renewal.
 
For someone meant to be so bright, he's very poor when not relying on scripted soundbites.
 
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