redrobo wrote:Just be grateful that although the increase in Interest Rate is the highest for 30 years to 3% when we got married in the early 70's the interest on our mortgage was a massive 14%.....
thefactsman wrote:
You probably didn't mind paying 14% interest when house prices were 65 times cheaper in 1970's
Alan wrote:
Not much of an accurate fact... a flat similar to one I bought in 1982 for £19k is available today for
£114k.... only 6 times as much.
Alan wrote:thefactsman wrote:
You probably didn't mind paying 14% interest when house prices were 65 times cheaper in 1970's
Not much of an accurate fact... a flat similar to one I bought in 1982 for £19k is available today for
£114k.... only 6 times as much.
thefactsman wrote:Alan wrote:
Not much of an accurate fact... a flat similar to one I bought in 1982 for £19k is available today for
£114k.... only 6 times as much.
https://www.openaccessgovernment.org/uk ... 70/138813/
redrobo wrote:Just be grateful that although the increase in Interest Rate is the highest for 30 years to 3% when we got married in the early 70's the interest on our mortgage was a massive 14%.....
Keith wrote:
The issue is not simply the interest rate, it is how people will have borrowed. Many people had to max out their affordable borrowing in order to get on to the housing ladder in the first place. Any interest hike will be difficult. Add crazy inflation and oil companies making £8 billion profit per quarter, and many home owners will face genuine poverty.
Scouseport_Shrimp wrote:Keith wrote:
The issue is not simply the interest rate, it is how people will have borrowed. Many people had to max out their affordable borrowing in order to get on to the housing ladder in the first place. Any interest hike will be difficult. Add crazy inflation and oil companies making £8 billion profit per quarter, and many home owners will face genuine poverty.
Don't forget the Covid Global Pandemic which has to be paid for, and not just in this country.....watch Al Jazeera News channel, it's hitting just about everywhere, sort of Global like.
What's your solution?
Keith wrote:Also have to remember that the renewable energy companies are creaming it too. The cost of wind hasn't increased!
Keith wrote:Also have to remember that the renewable energy companies are creaming it too. The cost of wind hasn't increased!
dazza wrote:Keith wrote:Also have to remember that the renewable energy companies are creaming it too. The cost of wind hasn't increased!
thats not necessarily correct.... if you listened to the owner of octopus last night
there is licensing fees they have to pay to use renewables ... also sun light is not chargeable
therefore solar and battery storage is the way forward ,,, dont try sell back to the grid totally pointless
however battery storage is the future
Keith wrote:
Hopefully, by mid 2023, I'll be living in a property which is self-sufficient ('Passive House' standards, lots of solar)
Sakhalin Shrimp wrote:Keith wrote:
Hopefully, by mid 2023, I'll be living in a property which is self-sufficient ('Passive House' standards, lots of solar)
TT fortnight housewarming then?
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