The Cost Of Living Crisis

[royal white]

7 hours ago, L/H White said:

just had to do our mortgage as 2 year deal coming to an end 

5.2% which is around an extra £230 a month 

will be getting worse before it gets any better 

Are you going for a 2 year or 5 year next? 

Edited July 6, 2023 by royal white

[green genie]

On 26/06/2023 at 19:05, mickbrown said:

House on my road was up for rent for 6k a month.

Young couple paid a year up front. Fuck knows what they do for a living.

HBAHT? Only Fans ?

[L/H White]

10 hours ago, royal white said:

Are you going for a 2 year or 5 year next? 

5 mate. It's definitely going up before down, and it will only be very minimal if it does so rather know where we stand for the next 5 years 

We locked in the rate yesterday but our advisor said if it does drop before December we can get the lower rate 

Edited July 7, 2023 by L/H White

[Sweep]

45 minutes ago, L/H White said:

5 mate. It's definitely going up before down, and it will only be very minimal if it does so rather know where we stand for the next 5 years 

We locked in the rate yesterday but our advisor said if it does drop before December we can get the lower rate 

I'll be very surprised if it does, we'll probably see another rate rise shortly. If the 5 year fix isn't too painful for you, then it's probably the right thing to do

[Casino]

definitely

you know you can afford the 5 year

you can only guess if you can afford what itll be in 2 years

[globaldiver]

11 hours ago, royal white said:

Are you going for a 2 year or 5 year next? 

Or SVR?

[L/H White]

1 hour ago, Sweep said:

I'll be very surprised if it does, we'll probably see another rate rise shortly. If the 5 year fix isn't too painful for you, then it's probably the right thing to do

 

1 hour ago, Casino said:

definitely

you know you can afford the 5 year

you can only guess if you can afford what itll be in 2 years

Yeah, this is our thinking to 

Little ens nursery fees are more than the mortgage ffs

We're entitled to the 30 free hours in Jan, then she'll only have about 8 month left before she's off, so it all works itself out in the end

 

[Ani]

My mortgage has gone up by about 25% in last few months. We are on a base rate tracker with 10 years left.

 

It is over £80 per month now. 😂😎💰

[Sweep]

2 minutes ago, Ani said:

My mortgage has gone up by about 25% in last few months. We are on a base rate tracker with 10 years left.

 

It is over £80 per month now. 😂😎💰

Mrs Sweeps friends pay something like £57 per month - they looked at clearing it, but were advised it's better not to. I think they only have about 3 years left 🙂

[Ani]

Just now, Sweep said:

Mrs Sweeps friends pay something like £57 per month - they looked at clearing it, but were advised it's better not to. I think they only have about 3 years left 🙂

We have kept £10k on ours, used Pension to pay it down , just means if we need a lump sum say if roof needs doing can you just get it out .

 

Payments were going up at the same time as Pension was dropping. Would be about £1400 per month if we left it as was. 

[globaldiver]

Good idea

https://www.reuters.com/breakingviews/uk-could-borrow-leaf-canadas-mortgage-book-2023-07-07/

[Tonge moor green jacket]

48 minutes ago, globaldiver said:

Good idea

https://www.reuters.com/breakingviews/uk-could-borrow-leaf-canadas-mortgage-book-2023-07-07/

Fascinating. Certainly sounds a fine idea.

Almost becomes an "ownership rental".

[Sweep]

2 hours ago, globaldiver said:

Good idea

https://www.reuters.com/breakingviews/uk-could-borrow-leaf-canadas-mortgage-book-2023-07-07/

It's a great idea, sadly it'll never happen here. 

[Tonge moor green jacket]

10 hours ago, Sweep said:

It's a great idea, sadly it'll never happen here. 

An opportunity for a current or new lender to change the market. 

[Mounts Kipper]

On 07/07/2023 at 08:14, L/H White said:

5 mate. It's definitely going up before down, and it will only be very minimal if it does so rather know where we stand for the next 5 years 

We locked in the rate yesterday but our advisor said if it does drop before December we can get the lower rate 

It’ll be going down by late autumn. Shit time to drop out of a fixed rate…I’d try to hold on before fixing. 

Edited July 15, 2023 by Mounts Kipper

[Mounts Kipper]

On 07/07/2023 at 10:36, Ani said:

We have kept £10k on ours, used Pension to pay it down , just means if we need a lump sum say if roof needs doing can you just get it out .

 

Payments were going up at the same time as Pension was dropping. Would be about £1400 per month if we left it as was. 

Luckily I’m offset mortgage but I’ve had to put a chunk out of my pension to negate the interest. 

[Carlos]

Ovo have dropped my Direct Debit by 20% as the wholesale cost of energy has dropped, time to fire up the central heating again!

[Sweep]

1 hour ago, Carlos said:

Ovo have dropped my Direct Debit by 20% as the wholesale cost of energy has dropped, time to fire up the central heating again!

Octopus have just reduced my DD to £0 😁  -  I'm not sure how long it'll be down there for, but I like it

[Traf]

9 hours ago, Sweep said:

Octopus have just reduced my DD to £0 😁  -  I'm not sure how long it'll be down there for, but I like it

Have you suddenly become a Tory MP?

[FrancisFogarty]

Eon.Next took great pleasure in telling me energy prices were coming down, and on the same email they said that my DD would not change as there is a debt on my account. £80. odd. Which is reducing month on month as there is no heating on.

Last months email told me not to worry, a bit of a debit or credit on my account is ok, and they didn't call it debt then. 

My question is, if I pay this £80 off, will they reduce my DD ?

 

Edited July 18, 2023 by FrancisFogarty

[Cheese]

2 minutes ago, FrancisFogarty said:

Eon.Next took great pleasure in telling me energy prices were coming down, and on the same email they said that my DD would not change as there is a debt on my account. £80. odd. Which is reducing month on month as there is no heating on.

Last months email told me not to worry, a bit of a debt on my account is ok.

My question is, if I pay this £80 off, will they reduce my DD ?

You should probably ask them....

[FrancisFogarty]

1 minute ago, Cheese said:

You should probably ask them....

Great idea, if only I could be arsed waiting the required 20 minutes, listening to lift music.

 

 

 

[Cheese]

5 minutes ago, FrancisFogarty said:

Great idea, if only I could be arsed waiting the required 20 minutes, listening to lift music.

Well I doubt you'll get an answer on here. Maybe send them an email.

[FrancisFogarty]

I got two answers off you.

[RoadRunnerFan]

14 minutes ago, FrancisFogarty said:

I got two answers off you.

Sorted mine ont'internet Francis. They (Scottish Power) owed me £80odd but they wanted to change my DD lower than I wanted (change of circumstances not showing in usage) . Took the refund, lowered the DD and then increased it to what I wanted later. You could try similar the other way. Pay off the £80 if the Monthly amount is higher than you expect you could change it later. 

Not hard to at least try to be helpful @Cheese

Edited July 18, 2023 by RoadRunnerFan