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Interest rates up 0.25% for the 11th Month in a row
Ouch, it's going to get tough for youngsters and people stretched while buying their house, hopefully, that's the last and inflation starts to come down.
£250,000 borrowing on a variable/tracker rate will cost them approx £52pm more.
People coming out of a fixed deal from 2021, 2 years on the same size mortgage will see an average increase of approx £728pm for a new fixed deal.
The US went up the same yesterday.
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Re: Interest rates up 0.25% for the 11th Month in a row
Quote:
Originally Posted by
North Cardiff Blue
Ouch, it's going to get tough for youngsters and people stretched while buying their house, hopefully, that's the last and inflation starts to come down.
£250,000 borrowing on a variable/tracker rate will cost them approx £52pm more.
People coming out of a fixed deal from 2021, 2 years on the same size mortgage will see an average increase of approx £728pm for a new fixed deal.
The US went up the same yesterday.
I took on a fixed deal from February. I'm hoping to clear my mortgage when that fixed deal ends in a couple of years.
It has saved me a load already. It's not just mortgages, we all know about energy, food etc but my water bill has increased by 12.8%. I've not had my Council Tax notification yet.
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Re: Interest rates up 0.25% for the 11th Month in a row
Quote:
Originally Posted by
North Cardiff Blue
Ouch, it's going to get tough for youngsters and people stretched while buying their house, hopefully, that's the last and inflation starts to come down.
£250,000 borrowing on a variable/tracker rate will cost them approx £52pm more.
People coming out of a fixed deal from 2021, 2 years on the same size mortgage will see an average increase of approx £728pm for a new fixed deal.
The US went up the same yesterday.
Rate rises are meant to curb inflation, but why bother as this does not impact the man on the street. We either pay more via inflation or we pay more via increased debt payments.
its just a way of government debt being eroded in real terms.
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Re: Interest rates up 0.25% for the 11th Month in a row
Quote:
Originally Posted by
HiVis
Rate rises are meant to curb inflation, but why bother as this does not impact the man on the street. We either pay more via inflation or we pay more via increased debt payments.
its just a way of government debt being eroded in real terms.
Unless the intention is to crash the current financial system.
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Re: Interest rates up 0.25% for the 11th Month in a row
Quote:
Originally Posted by
Michael Morris
I took on a fixed deal from February. I'm hoping to clear my mortgage when that fixed deal ends in a couple of years.
It has saved me a load already. It's not just mortgages, we all know about energy, food etc but my water bill has increased by 12.8%. I've not had my Council Tax notification yet.
I got my water bill reduced to 320 quid but I couldn't get a water meter fitted which is what I wanted
Spoke to a very pleasant lady from cwmbran who was a single mum and lived near the boating lake
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Re: Interest rates up 0.25% for the 11th Month in a row
Quote:
Originally Posted by
SLUDGE FACTORY
I got my water bill reduced to 320 quid but I couldn't get a water meter fitted which is what I wanted
Spoke to a very pleasant lady from cwmbran who was a single mum and lived near the boating lake
Your water bills are so high cos you make the ladies so wet Sludge
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Re: Interest rates up 0.25% for the 11th Month in a row
Quote:
Originally Posted by
JamesWales
Your water bills are so high cos you make the ladies so wet Sludge
Let's try and keep this in order
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Re: Interest rates up 0.25% for the 11th Month in a row
Quote:
Originally Posted by
Michael Morris
I took on a fixed deal from February. I'm hoping to clear my mortgage when that fixed deal ends in a couple of years.
It has saved me a load already. It's not just mortgages, we all know about energy, food etc but my water bill has increased by 12.8%. I've not had my Council Tax notification yet.
Just had mine £288 a month to empty my bins!!!
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Re: Interest rates up 0.25% for the 11th Month in a row
Quote:
Originally Posted by
HiVis
Rate rises are meant to curb inflation, but why bother as this does not impact the man on the street. We either pay more via inflation or we pay more via increased debt payments.
its just a way of government debt being eroded in real terms.
Seems a bit over the top this time, inflation was high due to the end of the pandemic, and shipping and energy costs, they were going to reduce from March/April on anyway, but I suppose it is better than raging inflation and it is Worldwide and rates are higher in the US.
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Re: Interest rates up 0.25% for the 11th Month in a row
there are always losers and winners in the game. but house and flat prices were getting out of hand and need a reset.
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Re: Interest rates up 0.25% for the 11th Month in a row
Quote:
Originally Posted by
North Cardiff Blue
Just had mine £288 a month to empty my bins!!!
thinly veiled I live in Lisvane not Gabalfa
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Re: Interest rates up 0.25% for the 11th Month in a row
Quote:
Originally Posted by
North Cardiff Blue
Ouch, it's going to get tough for youngsters and people stretched while buying their house, hopefully, that's the last and inflation starts to come down.
£250,000 borrowing on a variable/tracker rate will cost them approx £52pm more.
People coming out of a fixed deal from 2021, 2 years on the same size mortgage will see an average increase of approx £728pm for a new fixed deal.
The US went up the same yesterday.
Might be good if it brings house prices down a bit? Not for me but for young people looking to get out of the now chaotic rental market in Wales
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Re: Interest rates up 0.25% for the 11th Month in a row
Quote:
Originally Posted by
North Cardiff Blue
Just had mine £288 a month to empty my bins!!!
Every 3 weeks soon probably the useless w@nkers they are
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Re: Interest rates up 0.25% for the 11th Month in a row
Quote:
Originally Posted by
North Cardiff Blue
Just had mine £288 a month to empty my bins!!!
Yes, but apart from schools, teachers and youth services, libraries, parks, open spaces and galleries, social care for the elderly, children and other vulnerable members of the community, support for the voluntary sector, planning and building control, street cleaning and other environmental issues, maintenance of roads and bridges, traffic management and road safety, parking services, election, registrars of births, deaths and marriages, cemeteries and mortuary services, consumer protection, economic development and regeneration, community development services, housing provision, strategy, advice and services for the homeless…..what have the council ever done for us?
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Re: Interest rates up 0.25% for the 11th Month in a row
Quote:
Originally Posted by
fingers
Yes, but apart from schools, teachers and youth services, libraries, parks, open spaces and galleries, social care for the elderly, children and other vulnerable members of the community, support for the voluntary sector, planning and building control, street cleaning and other environmental issues, maintenance of roads and bridges, traffic management and road safety, parking services, election, registrars of births, deaths and marriages, cemeteries and mortuary services, consumer protection, economic development and regeneration, community development services, housing provision, strategy, advice and services for the homeless…..what have the council ever done for us?
That's good for you, but I just get my bins emptied, ignore house values and add 2p to tax or something.
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Re: Interest rates up 0.25% for the 11th Month in a row
Quote:
Originally Posted by
North Cardiff Blue
That's good for you, but I just get my bins emptied, ignore house values and add 2p to tax or something.
It's good for you too
It's good for everyone
Local government provides excellent services and administration
It's the privatised energy companies and phones and the rest of them that you want to be pissed off about
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Re: Interest rates up 0.25% for the 11th Month in a row
Quote:
Originally Posted by
fingers
Yes, but apart from schools, teachers and youth services, libraries, parks, open spaces and galleries, social care for the elderly, children and other vulnerable members of the community, support for the voluntary sector, planning and building control, street cleaning and other environmental issues, maintenance of roads and bridges, traffic management and road safety, parking services, election, registrars of births, deaths and marriages, cemeteries and mortuary services, consumer protection, economic development and regeneration, community development services, housing provision, strategy, advice and services for the homeless…..what have the council ever done for us?
Leisure centres but I have a feeling it’s a loaded question
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Re: Interest rates up 0.25% for the 11th Month in a row
Quote:
Originally Posted by
North Cardiff Blue
That's good for you, but I just get my bins emptied, ignore house values and add 2p to tax or something.
Yes, none of the rest matters as you don't need it at this precise moment. What about the rest of the population? Typical short-sighted attitude.
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Re: Interest rates up 0.25% for the 11th Month in a row
Quote:
Originally Posted by
SLUDGE FACTORY
It's good for you too
It's good for everyone
Local government provides excellent services and administration
It's the privatised energy companies and phones and the rest of them that you want to be pissed off about
I don't know why I get a bit irritated by cretins on social media who moan about council tax rises of 3% when the cost of living etc has shot up by more than 3 times that. It affects councils as well, who have had funding consistently cut and in some areas, are barely providing much more than what they legally have to.
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Re: Interest rates up 0.25% for the 11th Month in a row
Quote:
Originally Posted by
Eric the Half a Bee
I don't know why I get a bit irritated by cretins on social media who moan about council tax rises of 3% when the cost of living etc has shot up by more than 3 times that. It affects councils as well, who have had funding consistently cut and in some areas, are barely providing much more than what they legally have to.
On the whole they do a great job
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Re: Interest rates up 0.25% for the 11th Month in a row
The absolute hilarity in tories on here moaning about council tax increases after voting for austerity for the past 13 years.
Government funding to councils has been cut significantly meaning if you want essential services like bins, streetlights or care for the vulnerable there is no option but for council tax to increase.
'The leopards won't eat MY face'
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Re: Interest rates up 0.25% for the 11th Month in a row
Quote:
Originally Posted by
SLUDGE FACTORY
On the whole they do a great job
I think 'great' is slightly over-doing it.
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Re: Interest rates up 0.25% for the 11th Month in a row
Quote:
Originally Posted by
goats
Might be good if it brings house prices down a bit? Not for me but for young people looking to get out of the now chaotic rental market in Wales
Since 2017 in real terms there are 1.2million fewer properties in the PRS in the UK. It's going to get even worse in Wales as up to a third of PRS properties are take off the market. Rents have gone up by 30% as a consequence and will probably double within 18 months in some places. Private landlords are leaving in droves - it's no longer worth the hassle/grief.
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Re: Interest rates up 0.25% for the 11th Month in a row
Quote:
Originally Posted by
Doucas
The absolute hilarity in tories on here moaning about council tax increases after voting for austerity for the past 13 years.
Government funding to councils has been cut significantly meaning if you want essential services like bins, streetlights or care for the vulnerable there is no option but for council tax to increase.
'The leopards won't eat MY face'
We haven't had austerity for 13 years. The last few years have seen massive increases in public spending.
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Re: Interest rates up 0.25% for the 11th Month in a row
Quote:
Originally Posted by
Michael Morris
I took on a fixed deal from February. I'm hoping to clear my mortgage when that fixed deal ends in a couple of years.
It has saved me a load already. It's not just mortgages, we all know about energy, food etc but my water bill has increased by 12.8%. I've not had my Council Tax notification yet.
When I moved into my place in 1987 I took out a mortgage at a fixed 10% :yikes:
Lucky for me, but not for others, mortgage rates over the following few years went up to a whopping 16% :yikes:
Of course, house prices and loan amounts were at a reasonable level back then,
I despair for younsters trying to buy a home these days.
