Interest Rate Cut coming

[bomber]

Because they have absolutely no concept of financial management.

More reading from the side of red buses and yellow hammer will give them a much better concept Ian sure

 

[Hair Flick]

I'd be surprised if there was an interest rate cut this month but not if there was an interest rate cut this year. Still I've just bought the Euros which I need for my March holiday on the off chance of an interest rate cut as the exchange rate will reduce as a reaction.

They dropped this morning when the news started trickling out.

 

[Beery]

Just done a quick look. 108k house, 75% LTV. 5 year fixed rate 1.84% with £0 setup fees. Superb deal that for a first time buyer. £403.66 a month. Some brilliant mortgage deals available for everyone

Agreed.

£108k for a house?

 

[Northern_chappy]

Just done a quick look. 108k house, 75% LTV. 5 year fixed rate 1.84% with £0 setup fees. Superb deal that for a first time buyer. £403.66 a month. Some brilliant mortgage deals available for everyone

And thats great. If you live somewhere that has houses one the market for £108k.
Near me first time buyer families have no chance of decent quality of life in the current housing market. £108k might get you a run down 1 bedroom flat if you are lucky.

 

[Lonz]

Imagine thinking an interest rate cut is bad.

Depends on a number of things. Mainly what the inflation rate is expected to be.

 

[Old Prestonian]

They dropped this morning when the news started trickling out.

I know but it was nothing serious only 0.05 and 1.15 is still reasonable compared to where it was and it will drop further should an interest rate reduction happen.

 

[yorkyexile]

Just done a quick look. 108k house, 75% LTV. 5 year fixed rate 1.84% with £0 setup fees. Superb deal that for a first time buyer. £403.66 a month. Some brilliant mortgage deals available for everyone

Agreed.

Very good deal and you'll have a bit of summat to show for it. You'd struggle to rent for that round here

 

[GordonMuchallNo1Fan]

Very good deal and you'll have a bit of summat to show for it. You'd struggle to rent for that round here

Very same details almost 8 years ago for us was 3.4%. we remortgaged after that initial 5 year fixed rate and are now paying about 1.8% on a 5yr fixed rate which will see us finished. Hopefully they come down a little more as we are considering moving

£108k for a house?

Merely just used my details from just shy of 8 years ago.

 

[bomber]

There's only talk of a cut because the economy has shrank 0.3% the govt\BoE used to raise rates in the boom timesc to stop the economy overheating so it's seen by experts as a backward step and it's called preparing for Brexit,folks should bear in mind it's the only tool the govt have left to fix the problem other than increasing the UKs debt even more and it's about worn out.

 

[Beery]

Very same details almost 8 years ago for us was 3.4%. we remortgaged after that initial 5 year fixed rate and are now paying about 1.8% on a 5yr fixed rate which will see us finished. Hopefully they come down a little more as we are considering moving

Merely just used my details from just shy of 8 years ago.

Id say WH is a huge outlier in terms of property value.

 

[monkeytassle]

There's only talk of a cut because the economy has shrank 0.3% the govt\BoE used to raise rates in the boom timesc to stop the economy overheating so it's seen by experts as a backward step and it's called preparing for Brexit,folks should bear in mind it's the only tool the govt have left to fix the problem other than increasing the UKs debt even more and it's about worn out.

They started wittering on about it on thu with carney. Tenreyro again on Friday and then vlieghe in the ft this weekend. Before the admittedly rubbish gdp data this morning

 

[Mackem00]

Id say WH is a huge outlier in terms of property value.

Can get a canny starter home in Sunderland for similar prices tbf.

 

[I'm Spartacus]

Social media and in particular instagram are causing this. Constant photos from people stealing a living as "influencers" in big houses and flash cars. Plus the usual bullshit motivational quotes about being able to have anything you want means people feel entitled to 4 bedroom detached houses when they earn fuck all.

Society needs to get rid of this shit and press the reset button. Before social media low paid people generally had small houses and old cars and didnt think much of it. I am not saying you should not be aspirational, but its gone way too far.

Is it fuck man, it’s the availability of credit that’s caused this. Back in our day the bank manager would have laughed in your face if we went in asking for the cash for a new car as a spotty teenager. now they’re throwing it at kids.

 

[Hair Flick]

Can get a canny starter home in Sunderland for similar prices tbf.

Loads around in the pit villages for well under £100k

 

[bomber]

Is it fuck man, it’s the availability of credit that’s caused this. Back in our day the bank manager would have laughed in your face if we went in asking for the cash for a new car as a spotty teenager. now they’re throwing it at kids.

I wonder if a Bank manager would approve a 25 year loan for nissan worker at present

Loads around in the pit villages for well under £100k

So they should be

 

[GordonMuchallNo1Fan]

Id say WH is a huge outlier in terms of property value.

It is what it is but I'm not fussy. Live within my means. This house was affordable and we've managed fine. Now looking to move and purchase one more expensive. Rates are excellent

 

[Mackem00]

Loads around in the pit villages for well under £100k

Grew up in this estate. My mam and dad live in the newer houses out the back. Absolutely no bother and about 15 minutes from town. No brainer for a young'un wanting to start out imo.

Check out this property for sale on Rightmove!

2 bedroom terraced house for sale in Moorsfield, Houghton Le Spring, Tyne and Wear, DH4 £90,000. Marketed by Kimmitt and Roberts, Houghton Le Spring

www.rightmove.co.uk

 

[Al Bundy]

Due for a mortgage renewal later in the year so that's good news (for me).

Me too. Gerrin

 

[I'm Spartacus]

Think a lot of younger people just expect nice things (car/house) on a plate and are happy to rack up large debts , not realising that in few years time if interest rates were to suddenly rise they would be in the shit

when we were younger regarding homes you would try work way up housing ladder , nowadays young couples want a new build 4 bed house as their first home and a nice car , crazy, its all on tic

Life was completely f***ing different then man. The reason the older generation had shit cars and tiny starter homes is because it’s all the banks allowed you to have. You can’t really judge modern kids because you faced nowhere near the same level of pressure from advertising and the temptations of easy credit.

 

[cornish mackem]

If only Labour hadn't crashed the worldwide economy.

Well done to the Tories for keeping interest rates so low throughout this stint in government.

As opposed to the 17% in the 90s?

Grew up in this estate. My mam and dad live in the newer houses out the back. Absolutely no bother and about 15 minutes from town. No brainer for a young'un wanting to start out imo.

Check out this property for sale on Rightmove!

2 bedroom terraced house for sale in Moorsfield, Houghton Le Spring, Tyne and Wear, DH4 £90,000. Marketed by Kimmitt and Roberts, Houghton Le Spring

www.rightmove.co.uk

That’s a lovely little house that. I could live in that and be very comfy. Bit of a commute though

Life was completely f***ing different then man. The reason the older generation had shit cars and tiny starter homes is because it’s all the banks allowed you to have. You can’t really judge modern kids because you faced nowhere near the same level of pressure from advertising and the temptations of easy credit.

I bet all the people who got in a financial mess in the early 90s and in the later part of 2000s wished the banks had felt the same about loans like our parents “suffered”
Some people’s ideas of affordability is beyond reasonable