Anyone concerned by interest rates rising re mortgage?

[Vinty]

That doesn't make sense.

If what you say is true, that person, instead of renting, could simply choose to have a mortgage of their own.

But it's not that simple.

As, has been pointed out, you need to have substantial deposit to secure a mortgage, if a young person has to pay rent and maybe child care as well, it is very difficult to save enough to pay the deposit.
For some people that is almost impossible,

 

[Vinty]

What about non working families?

They shouldn't be eligible, only strivers of whatever class should be rewarded.

 

[old duffer]

Not what was said, not even close. However, this....

..is very true.

so now i'm calling your bluff and asking you prove this. What are the metrics you will use?

 

[old duffer]

They shouldn't be eligible, only strivers of whatever class should be rewarded.

the meritocracy in the class construct argument...you are a good boy, you have learned well my son, you are now truly British. Now repeat, GB saved the world...GB saved the world...

 

[old duffer]

I've just locked some away with Nationwide for a couple of years at 4.75%

then hit with the 40% tax...I assume you are a 40% payer?

 

[old duffer]

Gordon Brown passed legislation that required pension fund investment into gilts that were returning negative .5% over 30 year term.
Some pension funds placed 50% of funds into this....
This is what was referred to recently as the pension fund bail out as they had to dump their position on gilts in exchange for huge losses.
Many individuals reported a net loss of £100k on their managed fund over the last 12 months.
Just for numbers, (although they are meaningless as the irreversible collapse has already occurred) the dump was in the region (upward) of £2,800,000,000,000

 

[JohnD]

This is what was referred to recently as the pension fund bail out as they had to dump their position on gilts in exchange for huge losses.
Many individuals reported a net loss of £100k on their managed fund over the last 12 months.
Just for numbers, (although they are meaningless as the irreversible collapse has already occurred) the dump was in the region (upward) of £2,800,000,000,000

You're talking about the Liz Truss catastrophe, I take it.

 

[noseall]

so now i'm calling your bluff and asking you prove this. What are the metrics you will use?

Boomers have never had it so good. Gold plated pensions, Free education. Decades of peace. Cheap houses.

What's there left to prove? It's hardly a best kept secret.

 

[Harry Bloomfield]

Boomers have never had it so good. Gold plated pensions, Free education. Decades of peace. Cheap houses.

During which time, we worked damned hard and were very careful with money..

 

[gant]

Decades of peace.

This peace you talk of was discovered further down the line, at the time we were subjected to the threat of a cold war with Russia. Manchester was alright as it went to great expense with our rates money to advertise the fact Manchester was a nuclear free zone.

 

[Justin Passing]

£2,800,000,000,000

???

Bank confirms pension funds almost collapsed amid market meltdown

Official explains how promise to buy up to £65bn of government debt staved off destructive UK financial spiral

www.theguardian.com

 

[gas112]

then hit with the 40% tax...I assume you are a 40% payer?

In his and wife's name so 2000 quid in interest tax free

 

[gas112]

Find it quite funny the ones in here boasting they and wife's have maximum which was 5ok each . And saying about getting the odd £££ here and there. Whilst in mean time the 100k I invested in a house over passed 9 years became 200k whilst getting getting about 70k in rent with minimal outlay . Mind I could have won the million at millions to one chance

 

[JohnD]

£100,000 cash

At 20% inflation

Loses £20,000 of value per year.

This is not a "risk"

It's a certainty.

And you don't get a bad year followed by a good year where you might grow it all back.

 

[transam]

Sunac said that home owners with a mortgage need to hold there nerve ref these massive hikes in repayments

Hold there nerve

Jeez us wept what a ladies Willy