Mortgages

[burnleymik]

The current BoE chairman was praised to the high hilt by the very same people who are criticising his judgement at the moment

He was the Brexiteers choice, and unfortunately, he might not have been the best man for the job

Carney was much better than this lad (IMHO of course!)

You realise it's not an individual who makes this decision, right? It's the MPC, so your boring continuous anti-Brexit nonsense is once again, irrelevant.

[Lancasterclaret]

You realise it's not an individual who makes this decision, right? It's the MPC, so your boring continuous anti-Brexit nonsense is once again, irrelevant.

Yes of course

But having a competent BofE chairman is a good thing surely?

"Boring continuous anti-Brexit nonsense" btw is "unfortunate reality that some people just refuse to accept" btw

[Jakubclaret]

I'm ready.

If you already believe otherwise nothing will convince & you could say the same with me, but if you research both sides you will see both benefits & negatives, Type in Google - Brexit good news - away you go.

[Lancasterclaret]

All you've got to do mate is name one

One

Or even half of one

[Lowbankclaret]

Brexit is the main issue without it we probably wouldn’t have had to suffer Boris and Truss as well

Rubbish

[burnleymik]

Yes of course

But having a competent BofE chairman is a good thing surely?

"Boring continuous anti-Brexit nonsense" btw is "unfortunate reality that some people just refuse to accept" btw

You seem to imply that the interest rates are down to the Chairman and then did the mental gymnastics to frame it as down to Brexit.

We all have our opinions, which is fine, but it's boring seeing you jump to the same weak conclusion everytime and then claim it's everyone else refusing to see it. I'll leave it there.

[fatboy47]

Anyone remember an old comedy sketch where they were singing a song entitled "" I've never met a nice South African""?

Maybe an updated version could be" "I've never met an intelligent Brexiteer" "

Probably Spitting Image, or maybe Not the 9 o'clock News.

[Lowbankclaret]

Mark Carney spoke the truth on Brexit predicting that it would lead to the financial mess the country is experiencing now.
Compare that to the predictions of Jacob Rees-Mogg who in July 2017 stated that Brexit would lead to a 20% reduction in the cost of food and wine.

Erm then we had Covid and the war in Ukraine. Had much bigger effects than Brexit could have or would have

[Lancasterclaret]

Can I break ranks here a bit?

I absolutely hate Boris Johnson with a passion, and I'm sure Uk politics is better off without him but I don't think his original ideas about levelling up were bad and they might have moved a bit further on if he hadn't proved to be a lawless, lazy goon

Truss was unspeakably bad though!

[burnleymik]

All you've got to do mate is name one

One

Or even half of one

I'll bite.

https://www.reuters.com/world/uk/uk-see ... 022-02-25/

It's clear this government have never had any intention of making Brexit work, which plays into the hands of the zealots. A real shame all around, as we should have at least given it a shot.

This time I really am done No one wants to read this boring circular nonsense, hence they stopped the political threads.

[Lancasterclaret]

You seem to imply that the interest rates are down to the Chairman and then did the mental gymnastics to frame it as down to Brexit.

We all have our opinions, which is fine, but it's boring seeing you jump to the same weak conclusion everytime and then claim it's everyone else refusing to see it. I'll leave it there.

I seemed to imply nothing of the sort

I implied that he was the choice of the Brexiteers who hated Carney and now those very same Brexiteers are blaming him for the issues

And yes we all have opinions - mine is that there are enough facts out there to conclude that Brexit hasn't gone well and there appears to be plenty of facts to back that up

Do you have a benefit of Brexit you'd like to share with the group?

[Lancasterclaret]

I'll bite.

https://www.reuters.com/world/uk/uk-see ... 022-02-25/

It's clear this government have never had any intention of making Brexit work, which plays into the hands of the zealots. A real shame all around, as we should have at least given it a shot.

This time I really am done No one wants to read this boring circular nonsense, hence they stopped the political threads.

So we are paying low paid workers more and that is a brexit benefit

Surely you can see that is a result of workers not coming here because of Brexit and we then having to have to pay them more?

Yeah, I can see why you don't want to talk about stuff like this

[Lowbankclaret]

To be fair, there are loads of jobs for people to apply for. Problem is many uk youngsters are too lazy to work.

[Lancasterclaret]

To be fair, there are loads of jobs for people to apply for. Problem is many uk youngsters are too lazy to work.

I don't think that is even remotely fair

[Jakubclaret]

To be fair, there are loads of jobs for people to apply for. Problem is many uk youngsters are too lazy to work.

True or not incentivised enough to graft, you would see more effort from some with a decent pay packet.

[roperclaret]

Rubbish

Would you like to explain why?

[TheFamilyCat]

All you've got to do mate is name one

One

Or even half of one

CONTROL OF OUR BORDERS

SOVEREIGNTY

BLUUUUUEEEEEE PAAAAAASSPOOOORTS

[Lowbankclaret]

I don't think that is even remotely fair

Why, in the scheme of things it’s not a shortage of jobs.
Not having a go at anyone struggling did that years ago. It’s ****.
Still don’t agree with raising interest rates because a war and Covid put up inflation.

It will come
Down naturaly over time.

[burnleymik]

So we are paying low paid workers more and that is a brexit benefit

Surely you can see that is a result of workers not coming here because of Brexit and we then having to have to pay them more?

Yeah, I can see why you don't want to talk about stuff like this

So you prefer we import workers so big business can make more money, rather than have to pay better wages? You don't like seeing the wages of our working poor being pushed up because suddenly there is no endless supply of cheap labour?

Yet in the thread above you keep harping on like you care about the working class... which is it?

I don't usually engage with this stuff because I end up debating zealots, like you, which is utterly pointless for me, you and everyone who reads it.

I suppose it was your absolute arrogance and complete ignorance, which drew me in and got the bite, but it was silly of me. Waste of time and energy.

[taio]

To be fair, there are loads of jobs for people to apply for. Problem is many uk youngsters are too lazy to work.

The labour market is tight due to very low unemployment and rising wages that is also contributing to inflation. Your reference to just youngsters is preposterous. I'm sure we've seen record numbers of older working age adults choosing to leave the labour market through and since Covid.

[Swizzlestick]

To be fair, there are loads of jobs for people to apply for. Problem is many uk youngsters are too lazy to work.

Absolute nonsense and a statement that backs up some of the earlier points about a lack of understanding of the issues facing the current generation which some seemed to get weirdly rattled about.

[Lowbankclaret]

Absolute nonsense and a statement that backs up some of the earlier points about a lack of understanding of the issues facing the current generation which some seemed to get weirdly rattled about.

Ok right.
So back in the day 90’s me and missus struggled.
I had a full time job. But then had about 30 people who La cars I looked after . MOT service
Etc gave me extra cash.
My wife complained I had extra income which she didn’t have.
I did explained she could get a second job.
She did and worked at the Ram Inn serving on.
So we
Both worked two jobs to pay for extras.
No shortage of extra jobs around.

[Lancasterclaret]

So you prefer we import workers so big business can make more money, rather than have to pay better wages? You don't like seeing the wages of our working poor being pushed up because suddenly there is no endless supply of cheap labour?

Yet in the thread above you keep harping on like you care about the working class... which is it?

I don't usually engage with this stuff because I end up debating zealots, like you, which is utterly pointless for me, you and everyone who reads it.

I suppose it was your absolute arrogance and complete ignorance, which drew me in and got the bite, but it was silly of me. Waste of time and energy.

I'm not a zealot

I just deal in reality

The zealot is you - look back on your replies to me and think "Yeah, I'm thinking this through with a clear head"

You claimed it was a Brexit benefit and it isn't

Of course btw we should pay people more to do those sorts of jobs, but there are trade offs to that, and that includes higher prices for stuff

[Jakubclaret]

Absolute nonsense and a statement that backs up some of the earlier points about a lack of understanding of the issues facing the current generation which some seemed to get weirdly rattled about.

It's all we hear about maybe that's why some of us get "weirdly rattled about". I'd dread to think how something major like a war or a life threatening conflict would be managed on the basis of some of the reactions to a mortgage going up in price.

[Rick_Muller]

I'll bite.

https://www.reuters.com/world/uk/uk-see ... 022-02-25/

It's clear this government have never had any intention of making Brexit work, which plays into the hands of the zealots. A real shame all around, as we should have at least given it a shot.

This time I really am done No one wants to read this boring circular nonsense, hence they stopped the political threads.

So a benefit of it is one of the triggers for inflation. Got it.

IMG_6765.jpeg (84.92 KiB) Viewed 2100 times

[Swizzlestick]

It's all we hear about maybe that's why some of us get "weirdly rattled about". I'd dread to think how something major like a war or a life threatening conflict would be managed on the basis of some of the reactions to a mortgage going up in price.

All you hear about? The early pages of this thread and beyond are dominated by ‘oh well we had it tough, but we just got on with it, we never moped’. It’s one way traffic! Now a few have decided to counter this and say ‘look, a little more understanding and empathy wouldn’t go a miss’, it’s all you hear about!

[Jakubclaret]

All you hear about? The early pages of this thread and beyond are dominated by ‘oh well we had it tough, but we just got on with it, we never moped’. It’s one way traffic! Now a few have decided to counter this and say ‘look, a little more understanding and empathy wouldn’t go a miss’, it’s all you hear about!

It is what it is, you just gotta get on with it & stop moaning it won't be like this forever the rates will drop, people have suffered greater hardship in the past without moaning.

[Lancasterclaret]

*Someone is going to mention the war*

[taio]

So a benefit of it is one of the triggers for inflation. Got it.

IMG_6765.jpeg

To be expected I suppose given the proportion of EU citizens that worked in low paid sectors and the uplifts in the national minimum wage which is widely seen as a positive thing. So you could reasonably hypothesise that those sectors would have seen the fastest wage rises in any event.

[Swizzlestick]

It is what it is, you just gotta get on with it & stop moaning it won't be like this forever the rates will drop, people have suffered greater hardship in the past without moaning.

How do you know they didn’t moan? Applying your same ‘somebody has to lie directly to my face’ logic, did you check if everybody wasn’t moaning? You did not. I bet a lot did and I bet a lot thought, let’s try and make sure future generations have a better run of things. People are allowed to be concerned, especially after such a rapid rate of interest increase, allied with the other cost of living pressures and the previously debated average house price / average salary disparity. If this doesn’t affect you, or you think it’s something of nothing, I’m not entirely sure why you’re even in the thread, because you aren’t really progressing a debate or anything, but I guess this is par for the course.

[Jakubclaret]

How do you know they didn’t moan? Applying your same ‘somebody has to lie directly to my face’ logic, did you check if everybody wasn’t moaning? You did not. I bet a lot did and I bet a lot thought, let’s try and make sure future generations have a better run of things. People are allowed to be concerned, especially after such a rapid rate of interest increase, allied with the other cost of living pressures and the previously debated average house price / average salary disparity. If this doesn’t affect you, or you think it’s something of nothing, I’m not entirely sure why you’re even in the thread, because you aren’t really progressing a debate or anything, but I guess this is par for the course.

People didn't have time to moan they was too busy making ends meet & if you did moan you'd get a boot up your backside, it was a country made up mostly of grafters not shirkers.

[evensteadiereddie]

I'm assuming we're going full on Monty Pythons' four Yorkshiremen sketch from here?

[Lancasterclaret]

Is this you Jakub?

https://twitter.com/BestForBritain/stat ... 6974662667

[Swizzlestick]

People didn't have time to moan they was too busy making ends meet & if you did moan you'd get a boot up your backside, it was a country made up mostly of grafters not shirkers.

How do you know they didn’t? You’re just taking in cliche. Yet again, a wild generalisation here, a wild generalisation there. You’re a hypocrite. When it comes to somebody lying, you want stone cold, in real life evidence, yet you’re happy to write a generation off as shirkers, and look dewy eyed on a previous generation with nothing to back it up.

[Lancasterclaret]

https://twitter.com/implausibleblog/sta ... 6521845773

This is Jakub!

[burnleymik]

So a benefit of it is one of the triggers for inflation. Got it.

IMG_6765.jpeg

You don't want the lowest paid workers to have better wages?

Also, the areas affected was only really those most reliant on EU workers and would have a negligible effect on inflation. Unless you can show me those specific sectors are now a "trigger" for inflation? I'll wait....

[Rick_Muller]

You don't want the lowest paid workers to have better wages?

Also, the areas affected was only really those most reliant on EU workers and would have a negligible effect on inflation. Unless you can show me those specific sectors are now a "trigger" for inflation? I'll wait....

It's clearly absurd to suggest that is what I meant by my post. Of course I want lower paid workers to have better wages, I want all of "us" to have better wages and working conditions. I'll refrain from explaining reasons why these issues have deteriorated over the last 14/15 years as that would clearly be political.

However, when the current CotE states himself why the UK is different to the rest of the EU for inflation and rate rises only yesterday and without directly stating that it was what I suggest it was, it clearly is. The UK wouldn't have the current job situation and as such higher inflation than the EU without "B" right, surely you can join the dots and understand that?

https://twitter.com/Jeremy_Hunt/status/ ... 53888?s=20

CoE.JPG (76.6 KiB) Viewed 1835 times

[JohnMcGreal]

I don't really understand how raising interest rates and battering borrowers is going to cool inflation by taking money out of the economy, as is being reported.

All this extra money will be taken out of borrowers pockets, given directly to the banks, who then post bigger profits and end up paying out bigger bonuses to staff and bigger dividends to shareholders. Those people then spend their money in the economy, on cars, holidays, consumer goods etc.

It's not like this money is being removed from the economy or removed from circulation. It's just being transferred from people who are working hard and barely getting by to people who do very little and already have more than enough.

Where are the tax increases on those bonuses and dividends to help remove that (apparently unwanted, excess) money from the economy? Or are we not bothering with that part?

It sounds like a scam.

[atlantalad]

There seems to be a view that rising in mortgage rates is unique to the UK ( and a ploy by ‘greedy’ banks to swell their coffers). Just do a bit of research…..

OK, for those that believe this to be the case I will save you the hassle:

[burnleymik]

It's clearly absurd to suggest that is what I meant by my post. Of course I want lower paid workers to have better wages, I want all of "us" to have better wages and working conditions. I'll refrain from explaining reasons why these issues have deteriorated over the last 14/15 years as that would clearly be political.

My point was solely showing that lowest paid workers in sectors where we had an abundance of EU workers, are now seeing wage rises. Your reply, unequivocally, stated this was one of the driving factors for inflation. It wasn't absurd at all, it's what you implied.

However, when the current CotE states himself why the UK is different to the rest of the EU for inflation and rate rises only yesterday and without directly stating that it was what I suggest it was, it clearly is. The UK wouldn't have the current job situation and as such higher inflation than the EU without "B" right, surely you can join the dots and understand that?

For balance, our unemployment is currently rising and despite you "joining the dots" countries within the EU are also having problems with labour shortages:

Germany: https://www.schengenvisainfo.com/news/g ... ofessions/
Italy: https://www.ft.com/content/f40ca85f-d6d ... 265d87e049
France: https://www.euractiv.com/section/econom ... ommission/

This isn't a UK only issue because we are outside of the EU. This is a common issue throughout the Western Economies, as the poster above shows with his stats on Mortgages across the board.

[Jakubclaret]

It's clearly absurd to suggest that is what I meant by my post. Of course I want lower paid workers to have better wages, I want all of "us" to have better wages and working conditions. I'll refrain from explaining reasons why these issues have deteriorated over the last 14/15 years as that would clearly be political.

However, when the current CotE states himself why the UK is different to the rest of the EU for inflation and rate rises only yesterday and without directly stating that it was what I suggest it was, it clearly is. The UK wouldn't have the current job situation and as such higher inflation than the EU without "B" right, surely you can join the dots and understand that?

https://twitter.com/Jeremy_Hunt/status/ ... 53888?s=20

CoE.JPG

The reason the workplace environments & condition have deteriorated is due to certain people willing to accept the derisory pay & shabby conditions, no other reason apart from some people desperate for work & being exploited, the labour shortages are primarily the reason for some people wanting to rejoin the EU to exploit cheap labour & maximise profit & production output. It's not as easy to get away with when you are dealing with people born & bred here, folk tend to stand up for themselves more & have rights.

[fatboy47]

Wow! Can't argue with much of that Jakub.... A lot of UK employers are narked about losing their dependable supply of cheap labour and are finding that British workers won't work for next to nothing.

Neither would I have done if I'd any choice in the matter.

[Jakubclaret]

Wow! Can't argue with much of that Jakub.... A lot of UK employers are narked about losing their dependable supply of cheap labour and are finding that British workers won't work for next to nothing.

Neither would I have done if I'd any choice in the matter.

It'd further the discussion getting down to the nitty gritty that some people just want to exploit cheap labour & that's all they care about, instead of hiding behind other noble reasons & pretending to care. We should be a self sufficient nation not relying on anybody for anything, everything we use should be made here without importing anything, if we don't have the resources find the resources, build everything from scratch. Work it to make it & make to work it

[Boss Hogg]

Let’s cut spending by raising interest rates so people feel the squeeze. Then let’s make it so people have more money to spend and negate the effect of the rate rise. Is Liz still in charge ? Does anyone have a grip of the economy ?

[Lancasterclaret]

Let’s cut spending by raising interest rates so people feel the squeeze. Then let’s make it so people have more money to spend and negate the effect of the rate rise. Is Liz still in charge ? Does anyone have a grip of the economy ?

There doesn't appear to be an alternative plan other than to raise interest rates to get inflation under control, which will almost certainly cause a recession

My Brexit backing economist has his fingers crossed its not going to happen, which is the most negative I've ever seen his posts so I'm very worried

[jlup1980]

Sorry to sound like a stuck record, but we were paying £700 pcm in 1990!

We're currently paying the least we've ever paid for a mortgage. We've been up at £850 pcm previously. The reason for the current reduced monthly cost is clearly due to recent interest rates - bonus! The issue isn't just the mortgage payments though. We were paying about £100 pcm for water, gas and electric until 18 months ago; now we're paying nearer £300. The weekly shop has gone from £100 to £150 per week. I said in a previous message that my plan was to continue paying a higher repayment during this term due to the low interest rate. I haven't been able to do this due to the increases everywhere else. Everyone is robbing Peter to pay Paul at the moment. There is nothing but increases in weekly and monthly costs so a sudden jump in mortgages is a serious issue for most, if not all.