Author Topic: Inflation is up in England  (Read 790 times)

MARTIN

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Inflation is up in England
« on: Oct 17, 2017, 01:39:51 PM »
When we owned our house in Bournemouth our mortgage was to 16% and I think was about 40 years ago, is it up to that rate for any one on the forum now.  :(

Undercover Pensioner

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Re: Inflation is up in England
« Reply #1 on: Oct 17, 2017, 01:57:46 PM »

It is Martin.  This is an article about it saying that it has hit a five-year high of 3 per cent as workers face continued wage squeeze and that this will put more pressure on Bank of England to raise interest rates at next Monetary Policy Committee meeting on 2 November.


http://www.independent.co.uk/news/business/news/uk-inflation-latest-updates-five-year-high-3-per-cent-economy-pound-sterling-prices-income-a8004386.html


Anyone who has taken out a mortgage in the last eight years will never have known anything other than our current lows. 
The vote for Brexit was a vote to take back what we hadn't lost in order to lose what we actually have.

BazzerPontefract

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Re: Inflation is up in England
« Reply #2 on: Oct 17, 2017, 02:28:07 PM »
When we owned our house in Bournemouth our mortgage was to 16% and I think was about 40 years ago, is it up to that rate for any one on the forum now.  :(
Martin,
I was doing a clear-out only the other day and came across some old mortgage stuff - 10 years ago we were paying 8%, now that was on a standard variable rate repayment mortgage without restrictions, so we could pay lump sums off as and when we wanted.
We used to remind the kids that in the time we've had mortgages we've paid as much as 16% or more, now we have the additional stick to tell them that only 10 years ago many mortgages were running at 8% - the message to them being, be prudent you never know when the next crisis might come, one of which might be a Labour Government under Corbyn and McDonnell where capital controls and high base rates might again become the norm.  It was a Labour Government with Gordon Brown in the Treasury and mortgages where 8%.

Ashy

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Re: Inflation is up in England
« Reply #3 on: Oct 17, 2017, 05:22:54 PM »
At the end of the labour government in 1978/79 not only were mortgage rates very high but there was a reluctance to lend too. Most mortgages were for 25 years and lenders tried to ensure that the borrower would be able to pay.

fortyone

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Re: Inflation is up in England
« Reply #4 on: Oct 17, 2017, 05:40:16 PM »
Unlike the end of the last Labour government when nobody seemed to give a flying fig whether or not the loans would be repaid as the rules had been relaxed and the lenders just bundled up the dodgy loans and sold them on.

xetog

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Re: Inflation is up in England
« Reply #5 on: Oct 17, 2017, 09:32:41 PM »

Hi, just back from my cruise, but had to put a comment on this one.  The answer is no  Nobody is paying 16% mortgage interest and Martin knows it, so why the silly question?


Mike. 8)
If you want to control peoples thoughts, first control their words.

Undercover Pensioner

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Re: Inflation is up in England
« Reply #6 on: Oct 17, 2017, 09:40:09 PM »
My - "it is Martin" was in answer to the title.  I hadn't even realise Martin had asked that (must read the whole post ::) ) but why would you?   Who knows where it will go!  Who know where anything will go at the moment.
The vote for Brexit was a vote to take back what we hadn't lost in order to lose what we actually have.

xetog

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Re: Inflation is up in England
« Reply #7 on: Oct 17, 2017, 09:47:59 PM »

The question from MARTIN (his capitals) was "When we owned our house in Bournemouth our mortgage was to 16% and I think was about 40 years ago, is it up to that rate for any one on the forum now. " Mortgage rates are at present around 5% - 6% and it would be someone extremely silly to pay three times the going rate.  I think it's another of Martins wind - ups.  Am I alone in finding them irritating?


Mike. 8)
If you want to control peoples thoughts, first control their words.

zoony

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Re: Inflation is up in England
« Reply #8 on: Oct 17, 2017, 10:37:18 PM »
No Mike you're not...but he's one of us now mate.
"Listen to the wind, it cleans the mind."

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fortyone

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Re: Inflation is up in England
« Reply #9 on: Oct 18, 2017, 09:16:14 AM »
Am I alone in finding them irritating?
At least this one is comprehensible. Recently some have apparently been composed while under the influence of recreational chemicals. I expect they are far cheaper and better quality in Spain as it seems everything else is.

xetog

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Re: Inflation is up in England
« Reply #10 on: Oct 18, 2017, 11:47:00 AM »

Spanish inflation is currently 1.1% (doubled since last month which was up 40% on the previous month).  What irritates me is to think of him siting in his little troglodyte 'haven' gloating about any perceived misfortunes the rest of us might be experiencing.  Lets see what his tune is when all that dosh the EU ladles out to Spain is cut because we have left the EU.  We got over 16% mortgage rates etc and will overcome our trials again once the snowflake generation are toughened up, lets see how Spain copes when they cannot sell us their fruit and veg and Brits go to Turkey and Bulgaria instead to spend their holiday cash.


Mike. 8)
If you want to control peoples thoughts, first control their words.

Undercover Pensioner

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Re: Inflation is up in England
« Reply #11 on: Oct 18, 2017, 02:17:46 PM »

Lets see what his tune is when all that dosh the EU ladles out to Spain is cut because we have left the EU. 
Mike. 8)


Like the rest of the countries in the EU, I doubt Spain will feel any kinder towards the UK Mike.  I can't work out what you are hoping for.
The vote for Brexit was a vote to take back what we hadn't lost in order to lose what we actually have.

xetog

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Re: Inflation is up in England
« Reply #12 on: Oct 18, 2017, 02:41:48 PM »

I don't think Spain will be kinder to us UP, why should they when much of their fruit and veg lies rotting in the fields and their hotels empty?  But, in part the future relationship is in their hands.


mike. 8)
If you want to control peoples thoughts, first control their words.

zoony

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Re: Inflation is up in England
« Reply #13 on: Oct 18, 2017, 03:17:05 PM »
Plus, where are they going to catch fish?
"Listen to the wind, it cleans the mind."

"Never use money to measure wealth, son"

                                           cowboy wisdom.

Ashy

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Re: Inflation is up in England
« Reply #14 on: Oct 18, 2017, 05:16:20 PM »
Somehow I can't see the eu cutting its grants to member states. All they have to do is employ the right accountants.