Don’t get me wrong. For those trying to get on the property ladder especially, interest rates are always a preoccupation, but the media dialogue on the current rate is pathetic.
‘Cost of borrowing still at a 16 year high’
But people were warned time and time again that rates around the zero mark were not to be perceived as a long term norm. Yet the media is awash with glum looking people (usually ex university middle class types) complaining that their fixed term has expired and they’re now fucked. What? Fucked on a 5 percent rate that most of us would have given almost anything to have had ourselves not so long ago?
And apparently, wanting reasonable interest rates to benefit savers is ‘selfish’.
Anyway, the perpetually dismayed are asking what the government is going to do about it. Fuck all would be my guess.
Like I’ve already said. You were fucking warned.
Nominated by : Field Marshal Cuntgomery
Stupid cunts shouldn’t strap themselves up by taking out the biggest possible mortgage that their income will allow.
When I was in the UK I think that the maximum you could borrow was three and a half times your income.
House buyers used to look for properties right on their limit with no thought of how much shit they would be in if the interest rates went up.
Fuck them.
10
The modest 3 up 3 down ex council home that was good enough for multiple previous generations to bring up large families in aren’t worth wiping their arses on for most folk now.
Almost a thing of the past.
A 3 up.3 down home is just a starter home/stepping stone before moving into some practically unaffordable 6 bed new build with 2 garages and electric charging points in order to raise one or maybe two children for a lot of the cunts around here.
If there’s a major spike in interest rates then they are stuffed.
So fuck them.
20
I remember having a mortgage in 1982.
15.5% we were paying, these soft twats today haven’t a fucking clue what interest rates are..
And to piss me off even more now I’ve got a few bob saving rates are shite..
Us baby boomers have had it rough…!!!
33
Evening ZM, evening all.
Yes, I got my first mortgage in 1982 on a tiny two bed maisonette.
If the interest rate went up, I was crapping myself. We had to work our arses off to maintain payments etc.
And the soft cunts whinge today about a 0.5% increase. FFS! 🙄
5
Those happy days…
“I well remember 1979, when mortgage…: 27 Jun 2023: House of Commons debates – TheyWorkForYou” https://www.theyworkforyou.com/debates/?id=2023-06-27c.202.1#:~:text=I%20well%20remember%201979%2C%20when%20mortgage%20interest%20rates%20soared%20under,time%20knew%20all%20about%20it.
2
Good shout FM.
The daft cunts who decided that low interest rates would last forever are now in a bit of a pickle aren’t they?
It seems this applies to businesses as well as every other cunt.
Interest rates ride on the coat tails of govt policy,the BoE and international events…so banking on them being stable for any length of time is foolish.
The latest panto caused by lockdown,furlough and the ever present money printing has been a disaster and its not done yet.
Thanks again Westminster you utterly inept cunts.
15
Unkle T’s right, I know of several companies which overborrowed at bugger all interest and who are going tits up having to pay at base rate +3%.
Serves the stupid cunts right.
11
PS where’s the Magic Money Tree gone when you need it?
Has Rayner rammed it up her hoop?
Don’t the selfish cunts in govt realise lots of people who’ve made disastrous financial decisions expect them to shower them with lots of free money?
The Nanny State,fucking us over since 1997.
Oven.
15
For Sale: Mud Hut, London, SW1.
https://thumbs.dreamstime.com/z/african-boy-mud-hut-19039279.jpg
One careful owner (may be ejected on completion).
£1,000,000.00 ono.
Apply as per link.
🛖
11
One careful owner.
What about the other 20 he’s subletting it to?
9
Imagine sharing that demesne with the odd prowling black mamba,Gaboon Viper,Boomslang etc seeking a ready made arrangement ?
1
Detached thatched home set in rural surroundings with re-wilded cottage style garden
It’s all in the marketing 👍
13
Oh so true an estate agents dream for the new reality.
2
And I have never been able to work out all the ‘house prices have risen’ or ‘house prices have gone down’ malarkey.
What reference is being used to alter house prices?
How can a house be worth one price one month and then several thousands of pounds more the following month?
I think that it’s a false economy which helps very few people.
If your house has gone up in value (for no apparent reason) then any house that you may want to move to would have gone up as well.
It’s just a feel good factor that you think that you are better off when doing fuck all.
Modern day bread and circuses.
The only way you can really benefit is by selling up completely and fucking off to a country where houses are worth what you are prepared to pay for them.
A Victoria house in London which was originally sold for a few hundred pounds is now worth over a million?
No it’s not.
It’s value is whatever a lender is prepared to screw out of a debtor
16
The whole magic money tree,FIAT system is clearly approaching the wheels coming from the axle stage l think it’s fair to state ? All the indicators are in plain sight,wars a go go,bioweapon assaults masquarading as medical interventions,economic degradation.It’s how the PRICS (Predatory Ruling Internationalist Cabal) roll.
https://old.bitchute.com/video/EpytlqejiJJG/
1
My brother-in-law brought a 3 bedroom, purpose built council flat in London about 30 years ago with his mum.
I think that they paid around 40 grand for it.
He owns it by himself now as his mum died.
It must be worth at least 3 quarters of a million now and he has done fuck all with the place.
Ancient furniture and threadbare carpets.
The place is in a time warp.
Sell up you daft cunt!
He is the same age as me so he could retire to somewhere lovely, spend a third of what he makes on the sale of his London flat on a nice property in a nice country.
Never work again.
But no.
He wants to stay surrounded by foreign tramps and thieves.
He has to step over people sleeping rough and avoid the groups of thieves and beggars every time he goes out.
That’s no way to live, especially when you have a lot of money that you can put your hands on.
20
Well, fuck him Artful … Is he a spazzo or something? Dopey prat.
His life – let him get on with it. He will probably live to regret his current decision and will end up blaming everyone else …
2
You are right Cassandra.
There is no point in working hard for your entire life and struggling to pay off a mortgage if you are not going to do something with the equity you have built up.
London?
Fuck off!
Move somewhere, anywhere.
The job that he does (extremely well) can be done on a laptop from anywhere in the world.
Or he could just jack it in and live off the money that he has built up.
It seems that some people just want to sit and enjoy some smug satisfaction in their overpriced properties.
You only live once and if your home town has turned to shit then fuck off somewhere nice.
Pointless.
3
Can’t understand it AC, its not as if he is waiting things out for London to turn around, its gone and has been for years. He should sell before Labour issue compulsory purchase orders to give houses to migrant families.
0
The more your house is worth the more you give to.
A.. care home when you go ga ga.
B.. spouse when you get divorced.
C.. Taxman in capital gains ( soon to be increased)
D.. your offspring when you croak..
Sell it now and enjoy your baby boomer blessings..!
21
E.. The Council in Unoccupied Bedroom Surcharge.
11
F.. forced housing of an illegal immigrant.
11
G. Increased insurance.
H. Attractive to thieves
9
Definition of marriage from the male perspective.
Find someone you hate and give them a house.
12
I.. soon to be increased council tax, once Starmer has given amnesty to all the illegal immigrants awaiting permission to remain.
Social housing paid for by the taxpayer.
7
No CGT if you live in it over a year as your primary residence.
4
How about the interest rate is fixed for the duration of the loan. It’s not costing them more than when you borrowed it and in all probability the money you borrowed never existed in the first place.
Total scam.
8
Well, Inflation over 25 years would mean a net loss to the mortgagr company.
Inflation linked plus 5% is fair.
4
You’re absolutely correct btw about it being magic money that never exsisted
5
This may be TL, in which case DR. I think it makes sense, and I would expect my sanity to be questioned by lovers of monopoly capitalism everywhere. Good. That’s my opposition.
Anyone noticed that the official rate of inflation, RPI, doesn’t include house prices? And that it is officially a “good thing” when house prices rise above official inflation, year on year? Cast an eye over this:
https://www.propertyinvestmentproject.co.uk/property-statistics/house-prices-adjusted-for-inflation-graph/
Conclusion -“a typical property in 2005 Q1 would, on average, have cost £152,790 at the time. To purchase the equivalent amount of ‘retail goods’ today (based on RPI), it would require £310,932. This comparison indicates that the average property today holds less purchasing power than it did in 2005.”
That is, you’re paying more for less. Where did the lost value go? Answer, house price inflation is a crucial element in the steady and intentional devaluation of our currency, which gives an illusion of growth. More money in circulation facilitates more transactions. More transactions=official growth, regardless of the value of the transactions. And more points from which to bleed tax, loan interest and, via derivatives and hedge fund leeches, unearned profit. Here’s the McGuffin. That haemorrhage is directly derived from the fall in real value of housing…
The housing market, top to bottom, is a big fat Ponzi scheme. It is also the basis of our national accounting fraud.
7
100% correct, and it’s all gonna come crashing down.
2
Yes but no but, house prices are ridic. So paying 5% on a 500k house, which buys a shitbox, is totally unacceptable.
3
Higher, higher, higher, my meagre savings need al the help they can get
9
God help us. People will have to live between their means.
Not that you would know that.
Ever car on the road seems to be no more than 3 years old.
Everyone with a new smartphone on a ridiculous contract..
Fuck em. Get used to it.
Bacon boy millipede will take us to the abyss then over it..hold on tight..
9
Cars: Blame PCP. Used to be if you bought something, you owned it (if only eventually, on HP). Now you merely rent it and take most of the hit for depreciation as well. The financiers want to own everything, of course, and that day is coming quickly.
4
Couldn’t agree more as regards leasing motor cars Komodo. I own my car. I run it as it pleases me. Servicing and repairs I do myself or I choose which garage I use. I fit my favourite tyres and other consumables without reference to any other cunt. On that point I change my tyres at 3mm because I often drive in the wet; leasing companies run them to 2mm. I can travel as many miles as I like without running up some penalty charge if I go farther than someone else likes. When a leased car is returned charges for depreciation are often eye watering. Any chip on a wheel is priced for a new wheel at full retail price. Any paint blemish however small is charged for a respray of the whole panel as a minimum. Bumpers with tiny dings are again replaced at ridiculous cost. When my last company car was returned Lex Autolease sent a bill for £2,600! On the list amongst other things was a wing to be replaced for a dent so small I literally had never noticed it and a full respray of the roof because a bird had shat on it. I can only think people are dazzled by the prospect of getting one up on the neighbours by parking a brand new, shiny, upmarket car on the drive which they actually cannot afford to buy.
4
And there was me thinking this nom might be controversial.
I know it’s easier for some of us cunts on here. Many of us have done the debt laden part of our lives and remember interest rates that would make a millennials eyes water.
That said, I’m a selfish cunt who’s savings are earning fuck all in interest at the only time in my life that I’ve had a few bob.
Just my fucking luck.
6
“That said, I’m a selfish cunt who’s savings are earning fuck all in interest at the only time in my life that I’ve had a few bob.”
That. Also looking for a cheap flat now that the immos are taking over. I shall say to the Grim Reaper, “OK, mate, go ahead. You’re saving me a lot of hassle”
4
Abbey fucking National. Cunts. Do they even still exist?
When I bought my first house (early 90s), I went to their office to sign the various papers only to then be told I’d have to pay their indemnity insurance premium. I asked the cunt loan officer (branch manager actually) what the fuck he was talking about. In summary….Abbey National had vetted me and approved the loan on the basis I had good credit, had the deposit, earned good money and was low risk. They decided to take out additional insurance in the event I defaulted on the loan. As I pointed out, that was THEIR choice, but the kicker was I was being forced to pay for THEIR insurance policy which protected THEM.
I argued with the bastard, pointing out it wasn’t MY insurance policy and Abbey National were already satisfied I did not pose a significant financial risk to them. In other words, this was massively unfair. The cunt bastard shit stain vermin smugly said, if I didn’t pay the premium I wouldn’t get the loan. Lovely.
In the years since I understand that practice was ruled unlawful and it was effectively stopped. However, I will always hate Abbey National for pulling that shit and I hope that bastard branch manager got ebola.
12
I took out an unsecured loan with Abbey National. £7500. Filled out all the paperwork and set up the direct debit. They transferred the money and … nothing. They never took a single payment. I even told them and they never got back to me.
8
Result moggie
1
I also got sick to the back teeth of reading/hearing about “predatory lending”.
You know the thing I mean. Where some dip shit borrows more money than they should for way too much house, so when the interest rates go up and house prices fall, they end up owing more than their property is worth. Cue the government (i.e. tax payer) funded programmes to help these cunts re-finance on more attractive terms.
So let me get this straight. As a sensible and responsible borrower who borrowed within their means, made their payments and did everything right….I’m expected to bail out cunts who did everything wrong. Predatory lending my arse. No one held a gun to their heads forcing them to sign the mortgage documents. If you default, get foreclosed on and get kicked out – TOUGH FUCKING LUCK!
Why is stupidity and blatant greed and over-reach subsidised? There was some cunt in an office I used to work in who actually bragged about leveraging the government scheme at the time to re-finance. BRAGGED about it. I wanted to drop him so bad.
6
It might look good that interest rates were cut this month as inflation has fallen.
HOWEVER we have a Labour government. Massive pay rises for publish services and powerful union members combined with the inevitable economic cluster fuck for which all Labour governments have history will soon result in massively higher interest rates.
I retired 20 years ago. At the time my savings were returning 8-10% and when I last had a mortgage the rate was 17%. All under a Labour government. The snowflakes don’t have a clue.
Just remember before you complain, you voted the fuckers in. Be careful what you wish for…
12
Oh, for the good old days of Thatcher. When in 1981 interest rates hit 18.6%. Earning 15% on my savings. Us savers never had it so good! 😊
6
Very happy.
Big mortgage.
No savings..
“I well remember 1979, when mortgage…: 27 Jun 2023: House of Commons debates – TheyWorkForYou” https://www.theyworkforyou.com/debates/?id=2023-06-27c.202.1#:~:text=I%20well%20remember%201979%2C%20when%20mortgage%20interest%20rates%20soared%20under,time%20knew%20all%20about%20it.
2
I know its a parody, but how funny would it be if it was him..
https://x.com/NotFarLeftAtAll/status/1823370082459803651?t=T9neV2pR0uT8Yxr9WON8lg&s=19
3
Comedy Gold!
Actually he had me fooled until he said ‘We’ve got people flying in from all over the world’.
3
Oh my, what a cunt! Had me laughing out loud. The indignant expression and the soy boy beard perfectly complement the bollocks he is talking.
0
Gone are the days when you could get a fixed rate mortgage, over the whole term!
Yes, they did exist, as my parents got one, a 30 year mortgage @ 4% through the council, in 1953.
2