disenfranchised

Labour will come roaring into power in a landslide next time despite being absolutely woeful and having consistently demanded policies that would have made the current economic environment worse (more lockdowns, more refugees, more borrowing, more green stuff, less nuclear etc...) People who support(ed) all these policy stances but hate the Tories because their mortgage went up £500 a month are absolute morons... but... they are largely the same absolute morons who will switch to the Tories next time again based on circumstances, regardless of these being the result of polices they supported at the time. Labour won't be able to pursue neoliberalism like Blair, it was a 1 time deal. So, 10 years of stagnation and unwelcome social change, Tories get to come back and re-inflate everything. Maximum warp speed to the deepest reset possible makes logical sense for their true agenda.

Lending below base rates isn't necessarily lending at a loss due to fractional reserve - for example, if the bank decides it needs to allocate 5 grand in capital for every 100 grand of new mortgage lending at a low LTV, even if the cost of liquidity on the 5k was 10% per annum, that still only comes to 500 quid, whilst interest on 100k @ 3.5% = 3500 quid, so the net interest income is still 3000 quid. Base rates going up is brilliant for the banks, they will make increasing amounts of additional profit. Watch their annual results.

Banks converting people to fixed rates has prevented a glut of forced selling from the rate spike. Average on a UK mortgage at any given point is about 2yrs fixed at the moment, so about 50% of mortgage holders will have to remortgage over a 2 year period. Banks won't be repossessing owner-occupiers much as they will use all kinds of forbearance to avoid it - I have shown this occuring already with data on another thread. People under this forbearance will be looking for a solution. Energy price rises have already turned the screw on those with poor insulation, which I can anecdotally already see impacting the mix of property coming to market at the reductions in asking price. I did a re-pricing calculation on the OH's house yesterday as electricity & gas fix expires in August. Been paying 96 quid a month combined, actual usage over 12 months is only 60 quid a month, so well in credit. Cost of actual use rises to 123 quid a month if paying the max allowed on the current caps. There is a foot of uncompressed insulation in the loft. I have improved how this is laid and the loft is like an icebox, it is incredible if you're used to older houses. Only 2 external doors. All window & door seals good. A house around the corner built by the same developer & owned by somebody we know is a 3 story "modern town house" with 2x attic rooms and no loft, and therefore with much weaker insulation. The living room & kitchen/diner are on the bottom floor, and to keep them at 20 degrees with the kids flapping the doors about and increased heat loss from the roof takes WAY more gas. We are talking over triple the energy bills - when you're suddenly paying 300-500 quid a month instead of 150, you notice a significant change in the total cost of ownership. Slap a couple of hundred quid on the mortgage renewal as well, and they've gone from comfortable to pretty broke & considering drastic action. Economically, we have a slow "boiling frog" situation for a lot of owner-occupiers with mortgages at the moment.

It is United Nations Data. Try again.

UK life expectancy: 2022 81.65, a 0.15% increase from 2021. 2021 = 81.52 years, a 0.15% increase from 2020. 2020 = 81.40 years, a 0.15% increase from 2019. ...and every wave of covid went through 'plague Island' like the clap at an army barrack brothel.

Leftist is such an inadequate word to describe the globalist corporatist culturally left elite who like big governments, small freedoms, miminal political choice and their own private wealth. Blair & Cameron are cut from the same cloth as one another and Jacinda.

Fed funds up 25bp to 4.5-4.75 GBP down from 1.24 to 1.20 US inflation still running around 6.5% Historically US rates always rise until they cross over inflation. What the Fed does matters more than what the MPC expects the UK economy to do. That subtext is always behind their thinking.

The overarching problem we have is that the metropolitan middle class lib-left simultaneously despise the UK and run it.

Thermostat for the oil fired heating is in the hallway and set to 16⁰C. Turn it down to 10⁰C when not here. Heating is off overnight Burning 10-20kg of Coal and some logs every day at the minute as well though. Lounge/Diner where I work is more like 20⁰C.

HSBC have a bullish attitude to the likely drops in the UK market. Mind you, HSBC have a bullish attitude to every downturn as their deposits increase due to being seen as a bit of a global banking safe haven - they don't need to offer good deposit interest and can offer cheap loans and still cream the difference.

Rented off AirBNB recently and it was really good - self contained flat in its own outbuilding with excellent reviews. Tend to mainly use other sites to find self contained properties, find one you like and then search it by name for the best deal.

Post away... found this solid gold on PropertyTribes earlier! "I am at a pretty low LTV following decades of prudence, 15% mortgage on over £6m in property. (£4m in BTL, £2m own home). I am now worried about paying the bills if I carry on with the existing portfolio.. My own house uses gas at £7.20 an hour. I experimented this morning. For this reason we now have a house that sits around 6 to 10 degrees. Of course my hmos are all lovely and warm. I wanted to sell things but I have some non paying house trashers in one where I gave notice almost a year ago, I now have a hearing date next year but of course that is only stage one. The s21 on that house alone has made me not want to ask anybody else to leave yet, despite being fully aware of the possible financial dangers ahead. Ask them to leave. They could stop paying for the next 18 months. That is how ridiculous being a landlord is now"

Vacant property next door went SSTC a month ago and nobody has moved in. Friends pulled out of a collapsing chain and sold to rent. Lots of sale signs up.

Telegraph reporting today that over the last 3 months... £1m+ properties taking 56 days to sell, up 68% £350k-£1m properties taking 43 days to sell, up 72% sub-£200k properties taking 29 days to sell, up 45% A rise in asking prices is going to happen if transaction velocity slows harder on higher value property - changes the balance of what is up for sale. Not how it will be spun by the MSM of course...

Effects the whole market though, not specifically this type of property