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May 26 2022 3.14pm

Interest rates to rise again

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View BlueJay's Profile BlueJay Flag UK 05 May 22 8.38pm Send a Private Message to BlueJay Add BlueJay as a friend

Originally posted by Rudi Hedman

Up to 2.6% on fixed rate bonds. Sh1te. And sh1te compared to around the time of the late noughties crash. Another problem with low interest rates is it tempts more into property and adds to the problems in the home owning market.

Yes, it's a sad state of affairs really, trying to look for the best rates when inflation is heading into the stratesphere. Homes have become the ultimate pigy banks for some, investment first, home second, pricing out those looking for a first home at a price that isn't rising more than their entire wage.

 

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View Wisbech Eagle's Profile Wisbech Eagle Flag Truro Cornwall 06 May 22 11.28am Send a Private Message to Wisbech Eagle Add Wisbech Eagle as a friend

Originally posted by W12

Have spare food
Keep some fuel
Do not keep money in the bank (use it to buy or invest in real assets and/or keep some spare cash at home)
Possibly keep some gold/silver
Make sure you can protect your family
Have a plan if things go TU

That's not a wise strategy.

Keeping a stock of canned food makes sense, but if we lose power, anything frozen is as useless as fresh.

Fuel? For what? Unless you have open fires, no point.

There is no guarantee that anything you buy will be worth the same, or more, when you have to sell it again. You should only buy what you need. Then decide how to manage the risk of where to keep any balances. Spreading that risk makes sense. You will lose, but not everything.

If you are seriously worried then buy a camper van, stock it, service it, and be prepared to drive to a remote area as soon as you perceive red flags waving.

 

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View W12's Profile W12 Online 06 May 22 11.36am Send a Private Message to W12 Add W12 as a friend

Originally posted by Wisbech Eagle

That's not a wise strategy.

Keeping a stock of canned food makes sense, but if we lose power, anything frozen is as useless as fresh.

Fuel? For what? Unless you have open fires, no point.

There is no guarantee that anything you buy will be worth the same, or more, when you have to sell it again. You should only buy what you need. Then decide how to manage the risk of where to keep any balances. Spreading that risk makes sense. You will lose, but not everything.

If you are seriously worried then buy a camper van, stock it, service it, and be prepared to drive to a remote area as soon as you perceive red flags waving.

Sorry will not engage anymore with the word salads and pendantry

 

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View Wisbech Eagle's Profile Wisbech Eagle Flag Truro Cornwall 06 May 22 12.07pm Send a Private Message to Wisbech Eagle Add Wisbech Eagle as a friend

Originally posted by W12

Sorry will not engage anymore with the word salads and pendantry

After reading some of the tripe you have served up here in recent times, that at least brought a smile to my face. Which is a first for you.

 

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View W12's Profile W12 Online 06 May 22 12.07pm Send a Private Message to W12 Add W12 as a friend

Originally posted by Wisbech Eagle

After reading some of the tripe you have served up here in recent times, that at least brought a smile to my face. Which is a first for you.

Ooohh, raw nerve there.

 

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View Hrolf The Ganger's Profile Hrolf The Ganger Flag 06 May 22 1.15pm Send a Private Message to Hrolf The Ganger Add Hrolf The Ganger as a friend

The mortgage rate is still low. Anyone older than 50 will remember what it was like in the '80s and '90s when interest rates were much higher.

The problem is absurdly high house prices and that is a result of, you guessed it. Immigration and a lack of house building to accommodate.

That said. Exactly how many houses do we want to build in this green and formerly pleasant land? I see them being built everywhere near me and yet that is still not enough to cope with the invasion of immigrants and people moving out of the cities to avoid the hell holes they have become.

Of course, we could criticize the whole mortgage system, but what is the point.

Do tell me if I'm wrong

 

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View Rudi Hedman's Profile Rudi Hedman Flag Caterham 06 May 22 1.57pm Send a Private Message to Rudi Hedman Add Rudi Hedman as a friend

Originally posted by Hrolf The Ganger

The mortgage rate is still low. Anyone older than 50 will remember what it was like in the '80s and '90s when interest rates were much higher.

The problem is absurdly high house prices and that is a result of, you guessed it. Immigration and a lack of house building to accommodate.

That said. Exactly how many houses do we want to build in this green and formerly pleasant land? I see them being built everywhere near me and yet that is still not enough to cope with the invasion of immigrants and people moving out of the cities to avoid the hell holes they have become.

Of course, we could criticize the whole mortgage system, but what is the point.

Do tell me if I'm wrong

‘The future of Purley’
‘Eid Mubarak’

‘Welcome to Purley’
‘Labour Croydon’

It says at traffic lights. Madness

 


COYP

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View Hrolf The Ganger's Profile Hrolf The Ganger Flag 06 May 22 2.01pm Send a Private Message to Hrolf The Ganger Add Hrolf The Ganger as a friend

Originally posted by Rudi Hedman

‘The future of Purley’
‘Eid Mubarak’

‘Welcome to Purley’
‘Labour Croydon’

It says at traffic lights. Madness

It's going to get a lot worse.

 

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View Rudi Hedman's Profile Rudi Hedman Flag Caterham 06 May 22 2.07pm Send a Private Message to Rudi Hedman Add Rudi Hedman as a friend

Originally posted by Hrolf The Ganger

It's going to get a lot worse.

And that’s what the poster is saying. Putting it right out there. Multiple mosques are imminent.

 


COYP

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View Hrolf The Ganger's Profile Hrolf The Ganger Flag 06 May 22 2.22pm Send a Private Message to Hrolf The Ganger Add Hrolf The Ganger as a friend

Originally posted by Rudi Hedman

And that’s what the poster is saying. Putting it right out there. Multiple mosques are imminent.

Those Lefties love a wind up.

 

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View Eaglecoops's Profile Eaglecoops Online Flag CR3 06 May 22 4.10pm Send a Private Message to Eaglecoops Add Eaglecoops as a friend

Originally posted by Hrolf The Ganger

The mortgage rate is still low. Anyone older than 50 will remember what it was like in the '80s and '90s when interest rates were much higher.

The problem is absurdly high house prices and that is a result of, you guessed it. Immigration and a lack of house building to accommodate.

That said. Exactly how many houses do we want to build in this green and formerly pleasant land? I see them being built everywhere near me and yet that is still not enough to cope with the invasion of immigrants and people moving out of the cities to avoid the hell holes they have become.

Of course, we could criticize the whole mortgage system, but what is the point.

Do tell me if I'm wrong

Yes the interest rate is still low but it therefore means the B of E feel there is room to increase it and every half a percentage point is probably going to mean another couple of hundred or so quid a month to a lot of people. Start adding in cost of living increases, fuel costs etc and it’s a perfect storm that is stoking the case for ruination for those who are already mortgaged to the hilt.

I agree about the shortage of housing forcing up values through under supply but only whilst they are still affordable. The ceiling was reached when we had virtually 0% mortgages as there is nowhere else you can go to increase the salary to borrowing ratio. As mortgages increase in monthly cost, affordability will disappear for many and those who want to sell will have to reduce prices down the chain to match new buyers ability to buy. I really cannot see the market going any other way at the moment.

I do also remember the 14 to 15% mortgage that I had to pay for a while on my first property and if that scenario returned, most would be throwing their keys back to the lenders.

 

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View Goal Machine's Profile Goal Machine Flag The Cronx 06 May 22 4.42pm Send a Private Message to Goal Machine Add Goal Machine as a friend

Keep an emergency cash fund equal to 3-6 months worth of income in case you lose your job.

Invest everything else is a globally diversified multi asset fund with risk you are comfortable with (100% equity adventurous/20% equity cautious) and take a long term view to it. It will be choppy in the short term but you can be 99% certain you will come out in profit it you leave it for 5+ years. Use a Stocks & Shares ISA as growth is tax free.

1.5% interest vs 7% inflation means that £100 in the bank will be worth £94.50 next year. Cash is not suitable nor a safe investment for the long term.

If you're really struggling, work out what you're spending your money on and see where you can save - simple.

 

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