Stop panicking

[B0ycey]

They did not allow for increases in interest rates. And, they are nowhere near 15% which I had to put up with. (And could just afford).
Surely people with £400k mortgages, which will pay an extra £8k a year are the richer people in society, but you lefties would deny giving them back 5% of their own money.

But you were borrowing less Barry so the interest payment was less. Also house prices to wages are significantly more today than back then. Trust me, you were better off then compared to people now. And ultimately it is those who have mortgages that will vote for the next government and they will vote for their self interest not yours from yesteryear.

[Barry]

I think you'll find that EVERYONE who has a mortgage did sit down and worked out they could afford it. 

They did not allow for increases in interest rates. And, they are nowhere near 15% which I had to put up with. (And could just afford).
Surely people with £400k mortgages, which will pay an extra £8k a year are the richer people in society, but you lefties would deny giving them back 5% of their own money.

[papasmurf]

Jesus wouldn't want anyone homeless because they couldn't afford to live. 

The Tories don't care about that, and there are now a significant number of "no-fault" evictions which the Tories promised to ban but never have.

[B0ycey]

He was also a good Socialist, because the loaves and fishes he gave out, weren't his to give, but someone else's...

The Earth is ours and so are the things that come from it Patman. Private property in human existence terms is a new concept and I don't care what Barry posts, Jesus wouldn't want anyone homeless because they couldn't afford to live. His quote was more on over a indulgence and greed rather than punishing risk if you read the passage.

[patman post]

I think you'll find that EVERYONE who has a mortgage did sit down and worked out they could afford it. Besides, Jesus was the biggest Communist that every graced this world. The guy didn't charge for Bread and Fish and gave Ceaser his crappy coins back.

He was also a good Socialist, because the loaves and fishes he gave out, weren't his to give, but someone else's...

[B0ycey]

I wonder why the Americans have such high interest rates, was that the Tories, too?

I follow American politics very well Barry, and it is down to unregulated practices for why they have high repayments. It is because mortgages are given to people who can't afford them and the high interest rate is due to the risk of the loan. The Yanks just sell these toxic assets to the rest of the world anyway. I won't blame the Tories for the Yanks crashing their housing market, but I will blame them for crashing ours.

[patman post]

When you were young ,it must have been difficult paying interest rates on mortages of 15 %. Some context though of the time is required. Back then , the average house price was 5 times the average salary.Now.....it`s 11 times the average salary. The only sobbing i currently see is from conservatives who know they have a dud in place as prime minister. Keir is Prime minister in waiting and the tories are toast. We all know it.

So were Gaitskell, Kinnock, and (arguably) Miliband. But only a leader with personality could be said to be on a certainty — and Starmer is no Blair, despite also suppressing the lunatic Left...

[B0ycey]

Yes it is, Jesus Christ said this:


These are Christian ideals and wisdom.

I think you'll find that EVERYONE who has a mortgage did sit down and worked out they could afford it. Besides, Jesus was the biggest Communist that every graced this world. The guy didn't charge for Bread and Fish and gave Ceaser his crappy coins back.

[Barry]

I think some context is needed on mortgage rates. The rate rise is due to actions of the Conservative government and nothing else. 

I wonder why the Americans have such high interest rates, was that the Tories, too?

[Barry]

How Christian of you Barry.

Yes it is, Jesus Christ said this:

Luke 14 v 28 "Suppose one of you wants to build a tower. Won't you first sit down and estimate the cost to see if you have enough money to complete it? 29 For if you lay the foundation and are not able to finish it, everyone who sees it will ridicule you, 30 saying, 'This person began to build and wasn't able to finish.'

These are Christian ideals and wisdom.

[B0ycey]

I think some context is needed on mortgage rates. The rate rise is due to actions of the Conservative government and nothing else. Anyone who has a mortgage where rates are rising in my opinion has the right to be angry right now. I don't blame people for taking out mortgages or think it's their fault if they have to foreclose because they didn't know inflation was going through the roof before they took it on. I blame the Tories for a doing a budget without an OBR which would have flagged this consequence up.

[T00ts]

When you were young ,it must have been difficult paying interest rates on mortages of 15 %. Some context though of the time is required. Back then , the average house price was 5 times the average salary.Now.....it`s 11 times the average salary. The only sobbing i currently see is from conservatives who know they have a dud in place as prime minister. Keir is Prime minister in waiting and the tories are toast. We all know it.

The biggest difference was that no-one would lend exorbitant money. People couldn't cheat their incomes. Vendors would up the prices and valuers regularly devalued them and would only lend the smaller amount. Sellers were kept in line. Lots of houses were deemed unmortgage-able. If it didn't have a front garden, no bathroom. Or was simply overpriced. People now will do anything to have the dream.

There's too much passing the blame buck and not enough realism in what each of us can honestly manage.

[patman post]

Exactly! Once again the Left rises to the cry of the poor that they will make poorer if once again they get the keys to No10. They believe in wealth redistribution more than they believe in creating it to start with. Redistribution of nothing is still nothing! They show the route to stagnation at every turn and the mistake of the last raft of Conservative PMs has been to be in thrall to the snake that was Blair and his sidekick who pretended to save the world and a fear of rocking the boat of complacency that is endemic in the EU . When I was a young married with small children our mortgage rate was 15% if I remember right. Don't sob to me about a mere 6%. The young want to buy houses? Well this might be the way they will do it.
So many years of low interest rates has duped them into borrowing without thought to what might happen, and things happen, it is a lesson learned. It's all part of being something called a grown up.

When mortgage interest rates of 15%-17% were around, three bedroom terrace houses in London were on the market for £50K-£60K. They now go for £1m up. I bet plenty of areas in the rest of the country experienced similar percentage rises.

Since Kwarteng's Truss budget, many mortgage products have been withdrawn from the market and are not available at any price. Lenders don't want to saddle themselves with mortgages that borrowers can't repay, and can only be recouped by selling property into a market in which few people can then afford to buy...

[cromwell]

Mod Notice

One post moved to joke thread

[T00ts]

There are potentially six million homes on fixed term mortgages that are currently ending at around 100000 a month.

So? Who told them that at the end of the term they would be able to improve their repayment or maintain it? Life is made of risk. How many times do people need to be told not to overstretch themselves? Surely it's common sense. But no, dear Labour would want to bail them all out on the cash that those who planned well and sensibly have managed to accrue. That's not simple charity. That I can live with - not giving people the notion that the world is their oyster and they can have it all. We can't. Time to grow up and smell the coffee.