Getting worse
Grab a chair, kick off your shoes, chill and chat.-
DaveW
- Posts: 740
- Joined: Mon Jul 12, 2021 5:52 pm
- Location: Alpes Maritimes 06
Getting worse
He will have been knighted by then and tasked with turning the Christmas lights on - Get Christmas Done.
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MAD87
- Posts: 2497
- Joined: Tue Jul 13, 2021 7:53 am
- Location: 87520 Oradour s/Glane
- Contact:
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Bayleaf
- Posts: 3490
- Joined: Thu Sep 02, 2021 7:22 am
- Location: NE Dordogne
Getting worse
Love this graphic! 
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rabbit
- Posts: 706
- Joined: Thu Sep 02, 2021 5:38 pm
- Location: 56 Morbihan
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niemeyjt
- Posts: 4920
- Joined: Mon Jul 12, 2021 6:34 pm
Getting worse
Pound will fall below parity ‘with both dollar and euro’ – Summers
Former US Treasury Secretary Larry Summers has predicted that the magnitude of Britain’s trade current account deficit could push sterling below parity with both the dollar and euro.
source: https://www.thelondoneconomic.com/polit ... rs-335918/
Former US Treasury Secretary Larry Summers has predicted that the magnitude of Britain’s trade current account deficit could push sterling below parity with both the dollar and euro.
source: https://www.thelondoneconomic.com/polit ... rs-335918/
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niemeyjt
- Posts: 4920
- Joined: Mon Jul 12, 2021 6:34 pm
Getting worse
All of a sudden, people are going to be able to afford less . . .
Banks will cut mortgage offers by £90,000 as interest rates soar
Home buyers face severe restrictions on the amount they can borrow, as rocketing interest rates force banks to limit mortgage offers.
In some cases customers could be able to borrow £90,000 less than previously expected.
source: https://www.telegraph.co.uk/personal-ba ... ates-soar/
Banks will cut mortgage offers by £90,000 as interest rates soar
Home buyers face severe restrictions on the amount they can borrow, as rocketing interest rates force banks to limit mortgage offers.
In some cases customers could be able to borrow £90,000 less than previously expected.
source: https://www.telegraph.co.uk/personal-ba ... ates-soar/
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Doug
- Posts: 2053
- Joined: Mon Jul 12, 2021 6:22 pm
- Location: Nouvelle Aquitaine
Getting worse
All of this talk of people not being able to pay mortgages when they havn't lived.
My first property council mortgage back in 1961 was 6.5 %.
Then I remember the early seventies when I started my building business, prices doubled then doubled again but we all survived it.
Mami's 1990 mortgage when she parted from her first husband was 12% and she is still alive and kicking.
Problem is these days that the youngsters want it all at once.
I'll shut up again now after my rave.
My first property council mortgage back in 1961 was 6.5 %.
Then I remember the early seventies when I started my building business, prices doubled then doubled again but we all survived it.
Mami's 1990 mortgage when she parted from her first husband was 12% and she is still alive and kicking.
Problem is these days that the youngsters want it all at once.
I'll shut up again now after my rave.
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niemeyjt
- Posts: 4920
- Joined: Mon Jul 12, 2021 6:34 pm
Getting worse
I think though as interest rates have been so low, people have borrowed more that the 2.5x (+ 1) salary of my era.
Then interest rates rising from 0.5% to 6% is a 12-fold increase on top of repaying the amount borrowed
Then interest rates rising from 0.5% to 6% is a 12-fold increase on top of repaying the amount borrowed
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MAD87
- Posts: 2497
- Joined: Tue Jul 13, 2021 7:53 am
- Location: 87520 Oradour s/Glane
- Contact:
Getting worse
One of my sons is buying his first property with his fiancée, with no deposit to put down and a new central heating system necessary + a few other things beside. He's getting a fixed rate mortgage, even though his broker told him it would be a variable rate, but son is a friend of the bank's regional director...
I've warned him about overreaching themselves financially and only to do what's essential at the moment, despite the French system of lending no more than 35% of your income can support in repayments (that's also getroundable).
I've warned him about overreaching themselves financially and only to do what's essential at the moment, despite the French system of lending no more than 35% of your income can support in repayments (that's also getroundable).