Do you want to discuss boring politics? (83 Viewers)

[Deleted member 5849]

I moved house in February. The mortgage advisor recommended I take a 2 year fixed, my dad said I should take a 5 year.

Went with the old man's advice thankfully!

What is it with mortgage advisors? Only doing that so they get your business every two years rather than five?

 

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[Sky Blue Pete]

What is it with mortgage advisors? Only doing that so they get your business every two years rather than five?

Could argue they felt interest rates wouldn’t move too much and they were wrong obviously

 

[torchomatic]

Luckily we switched Wednesay evening and saved £50pm before the hike on Thursday. Been meaning to do it for years but never got around to it.

We're with Halifax. No forms or anything as we weren't asking for more money, just switched to a five year fixed rate.

 

[Deleted member 5849]

Could argue they felt interest rates wouldn’t move too much and they were wrong obviously

Mine advised it was all caused by Brexit, and once that was sorted out things would settle.

That was nearly enough to swing me towards a 10 year fixed!

 

[CCFCSteve]

Mine advised it was all caused by Brexit, and once that was sorted out things would settle.

That was nearly enough to swing me towards a 10 year fixed!

Tony now a mortgage advisor ?!

That’s dreadful advice when central banks are increasing rates worldwide.

You did well to ignore

Ps I think your earlier assessment of wanting new business every two years is probably the answer !

 

[CCFCSteve]

Worth reiterating. They're doing everything they took Corbyn to task for suggesting in terms of borrow huge wadges of cash from seemingly nowehere, without a fraction (or, indeed, any!) of his social conscience!

At least he was doing because he felt it was for the good of the majority!

Exactly, hence me mentioning. Also, for those that believe you can print money/borrow endlessly (without showing you’ve got control of spending) without any consequences. As recent inflation, interest rates increases and no doubt eye watering government borrowing costs will now show

The fact that a Tory government has proved the point is impressive even by this lots high standards

Ps don’t be surprised if there’s another government announcement rushed out trying to demonstrate they plan to control spending in medium term. Truss might also have to do a deal on NI protocol as well which is no bad thing

 

[Deleted member 5849]

Ps don’t be surprised if there’s another government announcement rushed out trying to demonstrate they plan to control spending in medium term.

I look forward to being made redundant, then!

 

[PVA]

Errr... thanks for clearing that up. I'm sure we're all very reassured now.

 

[Sky Blue Pete]

Errr... thanks for clearing that up. I'm sure we're all very reassured now.

Any statement that is put out rather than taking action is so pointless ffs

 

[PVA]

Any statement that is put out rather than taking action is so pointless ffs

 

[Sky Blue Pete]

It’s like wasps repeating we are progressing funding well!!!

 

[David O'Day]

who will last the longest, the new watford manager or liz truss?

 

[Nick]

 

[CCFCSteve]

Errr... thanks for clearing that up. I'm sure we're all very reassured now.

Quicker than I expected ! Why the fuck this wasnt done on Friday I’ll never know…unless Shmmeee’s conspiracy theories about intentional tanking was correct

 

[David O'Day]

pre economic clusterfuck as well

 

[skybluetony176]

Mortgage market getting jittery now. Hope this doesn’t effect your situation NW

 

[wingy]

Quicker than I expected ! Why the fuck this wasnt done on Friday I’ll never know…unless Shmmeee’s conspiracy theories about intentional tanking was correct

IDK.
Besides the opportunity to ingratiate theirs and their cohorts benefit.I reckon they may be be willing to run with the outfall possibly beyond the original ideology if it brings about a keener hungrier Labour force without legislating or taking them on

 

[Deleted member 5849]

Mortgage market getting jittery now. Hope this doesn’t effect your situation NW

wtf is a mirtgage product that comes with a fee, as opposed to one that doesn't?!?

 

[skybluetony176]

wtf is a mirtgage product that comes with a fee, as opposed to one that doesn't?!?

No idea. But lenders are lining up to pull fixed rate deals now for new customers. Not sure if that includes mortgages agreed but not yet implemented.

 

[Ian1779]

wtf is a mirtgage product that comes with a fee, as opposed to one that doesn't?!?

Do they mean the arrangement fee or redemption fee for re-mortgage? I remember both products that were fee free, but they skanked you on the APR…. And never understood their point as it went on the mortgage anyway

 

[skybluetony176]

Not sure they’re taking this seriously now. Going to make an emergency statement, in six weeks. Almost as long as it takes to get an ambulance



sorry, make that 8 weeks!

 

[Deleted member 5849]

No idea. But lenders are lining up to pull fixed rate deals now for new customers. Not sure if that includes mortgages agreed but not yet implemented.

It's an excuse to pull out I guess. Current house is cheap but mortgage free (go me and my plodding along save until I can afford most of the cost of a house!) and there's something to be said for that atm!

 

[shmmeee]

I moved house in February. The mortgage advisor recommended I take a 2 year fixed, my dad said I should take a 5 year.

Went with the old man's advice thankfully!

I moved last year and thought I was clever going for two year, ends next March.

According to what the mortgage company just told me, if it ended today my payments would go up about £250/mo.

Not sure where you’re going to get all this growth from when everyone is skint.

 

[shmmeee]

“Lord” Frost on R4 saying it’s all fine, interest rates need to raise anyway and government spending needs cutting. But ya know jam tomorrow. Brexit Britain. Blah blah blah.

 

[Deleted member 5849]

I moved last year and thought I was clever going for two year, ends next March.

According to what the mortgage company just told me, if it ended today my payments would go up about £250/mo.

Not sure where you’re going to get all this growth from when everyone is skint.

Or if everybody stops buying things because of the uncertainty of credit, and saves their cash instead.

 

[shmmeee]

Could argue they felt interest rates wouldn’t move too much and they were wrong obviously

This was the advice I had. Cos I’ve got a high LTV better to remortgage after two years with more equity. Ah well.

 

[Moff]

Luckily we switched Wednesay evening and saved £50pm before the hike on Thursday. Been meaning to do it for years but never got around to it.

We're with Halifax. No forms or anything as we weren't asking for more money, just switched to a five year fixed rate.

Similar for me but a couple of months ago, when I signed up to a new 5 year fixed rate….has saved me over £100 a month already.

I don’t think anyone could have predicted we could have had an even bigger arsehole in charge than the last one, but the Tory’s have nailed it!

I just hope people don’t have short memories and remember the corruption, the sleaze, the lies, the destruction of the economy, and sheer ineptness and keep this lot out of government for many years to come at the next election.

 

[torchomatic]

Similar for me but a couple of months ago, when I signed up to a new 5 year fixed rate….has saved me over £100 a month already.

I don’t think anyone could have predicted we could have had an even bigger arsehole in charge than the last one, but the Tory’s have nailed it!

I just hope people don’t have short memories and remember the corruption, the sleaze, the lies, the destruction of the economy, and sheer ineptness and keep this lot out of government for many years to come at the next election.

Looking at the news tonight Is frightening. They really are touching our economy. My only regret is I didn't do it months ago and I could have saved even more.

 

[skybluetony176]

The statements from the COE and BOE worked well then

 

[PVA]

I just hope people don’t have short memories and remember the corruption, the sleaze, the lies, the destruction of the economy, and sheer ineptness and keep this lot out of government for many years to come at the next election.

They will lose the next election but the problem is Labour will have to raise taxes and will not be able to fix this horrific mess in 4 years so everyone will be saying they can't be trusted on the economy and so we can look forward to another 12 years of the 'responsible' tories.

 

[chiefdave]

Not sure they’re taking this seriously now. Going to make an emergency statement, in six weeks. Almost as long as it takes to get an ambulance

Pretty obvious there isn't a plan and they've given themselves 6 weeks to come up with one. Its a bit like Wasps and there constant 'everything will be fine' statements.

 

[Sky Blue Pete]

Pretty obvious there isn't a plan and they've given themselves 6 weeks to come up with one. Its a bit like Wasps and there constant 'everything will be fine' statements.

Where’s that? The country will be in turmoil in 6 weeks

 

[Grendel]

Where’s that? The country will be in turmoil in 6 weeks

I remember in the ERM when interest rates were escalating every hour getting to 16% in the end

This is tame. It will stabilise soon enough

 

[Sky Blue Pete]

Where’s that? The country will be in turmoil in 6 weeks

Seen it now. What a joke

 

[Sky Blue Pete]

I remember in the ERM when interest rates were escalating every hour getting to 16% in the end

This is tame. It will stabilise soon enough

When?
Make some claims
inflation will top out at what % and when
Interest rates same question

Put your money where your intelligence suggests