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spyguy

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  1. And Labour picked Jeremy and the loon crew. Cons won with a large majority. Lab blew up their support in the North, maybe even for a generation. Cons won an election. Labour have turned themselves into minority Political party.
  2. Pretty much this. With low low rates and money slushing around, anything looks a good investment - ex council house in the valleys, bitcoin, Italian bonds ... Raise rates and, poof!
  3. Well, the choice given was - Boris or Jeremy and his merry bands of nuts Commies. If the UK had voted for the alternative its possible wed have found ourselves on the other side of the Russian-Ukraine war - and Im being serious. Boris was the right choice, given the alternative.
  4. Yield on Italian and Spanish debt going up, bonds prices dropping. ECB raising IRs. ECBs vast stock of EU debt going under water and going bust. Italy + Spain not being able to afford higher debt costs.
  5. Neither did I, assmuning it was more like 75%. UKGOV is taking NI contributions v seriously at the mo.
  6. One thing that Ive been thinking about - a lot - is the number of mortgageable people. 80% of houses are bought by someone local - 20m or so. In my local region, sales fell away to nothing in the 90s, bumping along generational lows till the lates 90s, at which point prices doubled, then stopped dead in 2004ish, trading at those prices ever since. After 2008, transaction few even lower than the 90s. I look a the FCA which shows number of mortgages by region - Yprks n Humber in my case. A population of ~6m. The number of house buying (not remortgages) is very low. The majority of under 45s appear to be on TC/UCs doing comedy PT work with a vast tax payer sub, and in social or private rentals Once you get over 55 getting a mortgage is about as likely as running off with a 22yo Hollywood star/starlette. The majority of peope living large on TCs/UVC - and they do offer an upper 30% income if you game it - will come out and be on their arses when their youngest hits 18. Basically, they are fcked - and I see this every Sep as they bray on the DSS doors asking where is their 1500/m Anyhow, a connected interest is the new NI funded state pensions. https://www.gov.uk/new-state-pension This has just rolled out. Everyone 66 and under will be on it. You need 35 contributions to get the full pension. Less then 10 and you get fkall. So, a 16yo leaving school in 1972 - and 90% would have left at 16 - will have had 50 years of grindstone before having a well earned rest. How many people do you think got 35y of stamps (keep in mind claiming CB gives you a credit til youngest is 12). And keep in mind its just 35 years out of 50 - you could have 15 years out of work and still get your full pension. 40% That probably tallies with number of adults who could get a mortgage - people who hold down a job, year to year. I reckon the figure for the current lot of under 45s is much much lower, TCs turbo charging skiving. I reckon that the number of under 55s who can get a mortgage for the average local house 15-200k) is tiny - sub 20%. The local housing market is a upside down pyramid, with the over 55s owning and at he under 45s renting. There are enough house buyers to clear the probates.
  7. Thats probably a good 10 years out of date. After 30-40 years of stability, German rates are going nuts. ECB ZIRP wont end in a nice orderly manner.
  8. I did ask a few people doing IO mortgages, all those years ago. A lot seemed to think the bank would sort of forget about it, or let it go. The ZIRP of the last 15 years have given these idiots a false sense of security - and wealth.
  9. I vaguely know several locals whos lifestyle can only be explained by coke smuggling - or an IO mortgage. I know roughly how much the couple earn, i cann see how much they paid, i can see how they spend. Like the pensioner, theyve been blowing the 750/m that should have be going on capital repayment the last 20 years.
  10. Io mortgages have gone back to what they - specialist products. Think private bank n chunky fees. First direct used to do them - if you earned over 100k. Seems to have been pulled.
  11. I remember people saying - Noone buys an IO mortgage without knowing it needs paying off at the end..... The reality is, if you say - Endowment mortgage IO mortgage Repayment mortgage. All 80% of people hear is 'mortgage' And, as everyone knows, you need a mortgage to buy a house....
  12. Its not just older home 'owners' Its all the 100s of 1000 who started tsking out naked IO mortgages, starting in 2000 and going mental 2002-2007. David Higginson, 69, from Stockport, took out an interest-only deal that expired in November 2021. Lloyds, his lender, demanded he repay £125,000 or sell up. But his two-bedroom house was only worth £250,000 – leaving him with little left over. “I would have had to pay £1,000 per month to rent somewhere,” he said Lloyds offered him a 10-year repayment loan but accepting this would have meant his monthly repayments quadrupled from £260 to around £1,000 per month – half his monthly income. Mr Higginson was rejected by a further eight building societies because of his age. Tge BoE/FCA havebeen pulling out the stops to get IO mortgage holders onto repaynents, taking advantage of tge low rates. Or getting 55+ onto RIO mortgages. Only managed to shift half of them. The remaining ones are idiots.
  13. How old and what 'considerable assets'? Seriously, Id expect them to be paying into a pension, thats its. You are making the same daft assumption that my mother does - that theres this wall of money, rich buyers waiting to pile in. There isnt. 80% of houses are sold to someone who lives within a 20 mile radius.
  14. Id doubt Bozzas was full engaged after his hospital stay. Seriously, 1 or 2 weeks hospitalised fks you up for a good few months. Chuck in 2 babies and a new younger wife ... hell have been walking around in cloud of befuddlement.
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