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Cost Of Mortgages To Fall Below 1Pc

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Ten year fix for 2.9% oh my.

Why am I not borrowing borrowing borrowing.

I know what you mean, I'm really struggling to justify to myself my current lifestyle of having a modest house, a 12 year old hatchback, savings in the bank and my idea of being extravagant is treating myself to a takeaway once a week.

Give me one good reason why I shouldn't spend all my savings on a much nicer houses, get a flash car on pcp, buy even day to day items on a credit card, generally live beyond my means and just rely on endless money printing, zirp and debt forgiveness to bail me out.

I really think it's time I joined the party rather than being the sad loser stood outside watching everyone have a great old time of it.

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I know what you mean, I'm really struggling to justify to myself my current lifestyle of having a modest house, a 12 year old hatchback, savings in the bank and my idea of being extravagant is treating myself to a takeaway once a week.

Give me one good reason why I shouldn't spend all my savings on a much nicer houses, get a flash car on pcp, buy even day to day items on a credit card, generally live beyond my means and just rely on endless money printing, zirp and debt forgiveness to bail me out.

I really think it's time I joined the party rather than being the sad loser stood outside watching everyone have a great old time of it.

Seriously I have worried about this. If the whole thing does go pop the money I've squirrelled away in the bank and shares may well vapourise at the same time.......so I end up just as screwed as the debt junkies down the road in any event.

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Seriously I have worried about this. If the whole thing does go pop the money I've squirrelled away in the bank and shares may well vapourise at the same time.......so I end up just as screwed as the debt junkies down the road in any event.

This is what the gold is for. Even 5% of your money in the bank converted into gold would offer some insurance/hedge against the type of collapse you mention. And the gold needs to be bullion in your hand - not paper gold or gold held in a bank's vault.

You can increase the % according to taste.

Edited by Errol

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Buried right at the very end...

Headline rates are not borrowers' only consideration, however, as many of the lowest rates carry high fees or require that borrowers have substantial equity in their property - or large deposits.

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This is what the gold is for. Even 5% of your money in the bank converted into gold would offer some insurance/hedge against the type of collapse you mention. And the gold needs to be bullion in your hand - not paper gold or gold held in a bank's vault.

You can increase the % according to taste.

I take your point but there are some problems:

1. How do I get/store the gold? I'd need to have access to the actually gold if the SHTF as any "etf" style arrangement may well have gone up in smoke. I'm not sure that signing for a heavy package from "Bullion Direct" is going to go unnoticed by the local burglars.

2. How will I spend it if the SHTF - it will need to be in very small denominations.........

3. How do I convince Mrs EC that we're as poor as church mice and can't afford to decorate the spare room when's there's a box full of yellow shiny stuff under the bed (this ones a joke btw)

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If you owe me £100 its your problem, If you owe me £100bn its my problem....simples.

Buy loadsa stuff, get into bucket loads of debt but always have a base of "owned" assets held in trust (not on your name). Then when it all goes pop you had the junkie ride on credit but can never lose everything. Worst case, you end up as you are in a world where everyone else has nothing - i.e murderous gangs roam the streets and its hunt or be hunted.

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This is what the gold is for. Even 5% of your money in the bank converted into gold would offer some insurance/hedge against the type of collapse you mention. And the gold needs to be bullion in your hand - not paper gold or gold held in a bank's vault.

You can increase the % according to taste.

Amen to that.

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I know what you mean, I'm really struggling to justify to myself my current lifestyle of having a modest house, a 12 year old hatchback, savings in the bank and my idea of being extravagant is treating myself to a takeaway once a week.

Give me one good reason why I shouldn't spend all my savings on a much nicer houses, get a flash car on pcp, buy even day to day items on a credit card, generally live beyond my means and just rely on endless money printing, zirp and debt forgiveness to bail me out.

I really think it's time I joined the party rather than being the sad loser stood outside watching everyone have a great old time of it.

I could have written this exact post. The idiots are winning.

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I take your point but there are some problems:

1. How do I get/store the gold? I'd need to have access to the actually gold if the SHTF as any "etf" style arrangement may well have gone up in smoke. I'm not sure that signing for a heavy package from "Bullion Direct" is going to go unnoticed by the local burglars.

2. How will I spend it if the SHTF - it will need to be in very small denominations.........

3. How do I convince Mrs EC that we're as poor as church mice and can't afford to decorate the spare room when's there's a box full of yellow shiny stuff under the bed (this ones a joke btw)

Have your teeth taken out and replaced with gold ones.

No one will ever think to look there.

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UK house prices jumped by 2.5% in January according to Land Registry. The biggest monthly leap since June 2002.

House prices in England and Wales jumped by 2.5% in January, adding more than £4,700 to the average cost of a property, official figures show.

A fall in the number of homes coming onto the market, combined with the announcement of new stamp duty rates for investors in November’s autumn statement, boosted demand and prices.

Data from the Land Registry, based on sales registered during the month, showed the biggest monthly leap in prices since June 2002. The average cost of a home rose to £191,812, and the annual rate of price growth increased to 7.1%, from 5.5% in December.

The biggest monthly increase was recorded in Wales, where the Land Registry said prices had risen by 3.7%, to an average of £125,665.

London recorded a 2.8% increase during January, and prices are now 13.9% higher than a year ago, at an average of £530,409. The north-west and north-east of England registered monthly falls, of 0.4% and 1.6% respectively, and only small annual increases.

http://www.theguardian.com/money/2016/feb/26/house-prices-january-land-registry

Osborne and Carney haven't just overtaken Brown and King, they've smashed them into oblivion!

King-and-Carney-advert.jpg

Edited by zugzwang

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I know what you mean, I'm really struggling to justify to myself my current lifestyle of having a modest house, a 12 year old hatchback, savings in the bank and my idea of being extravagant is treating myself to a takeaway once a week.

Give me one good reason why I shouldn't spend all my savings on a much nicer houses, get a flash car on pcp, buy even day to day items on a credit card, generally live beyond my means and just rely on endless money printing, zirp and debt forgiveness to bail me out.

I really think it's time I joined the party rather than being the sad loser stood outside watching everyone have a great old time of it.

The real positive in your situation is that without debts you don't have to worry. OK there is a risk you could lose your savings or some of them if there's a haircut but being in debt psychologically is a killer. Those oblivious to this fact at present may suddenly wake up in a cold sweat in the near future if they lose their job or some other personal calamity hits them.

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Just an advert piece. The lowest headline rate.......... with a £1345 fee.

Over the same 2 yr period personally i would be about £500 better off paying first directs 1.84% with no fee. But that doesnt matter, its about a headline and a bit of publicity.

Edit: Before you break even paying the fee you have to be borrowing about 7 times the UK average salary.

Edited by Caveat Mortgagor

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I take your point but there are some problems:

1. How do I get/store the gold? I'd need to have access to the actually gold if the SHTF as any "etf" style arrangement may well have gone up in smoke. I'm not sure that signing for a heavy package from "Bullion Direct" is going to go unnoticed by the local burglars.

2. How will I spend it if the SHTF - it will need to be in very small denominations.........

3. How do I convince Mrs EC that we're as poor as church mice and can't afford to decorate the spare room when's there's a box full of yellow shiny stuff under the bed (this ones a joke btw)

There are dealers (primarily in London) who will sell bullion or coins OTC. You could get a cheap Easyjet flight to Switzerland and pick some up there - when I lived there, most largish bank branches would sell small bars and coins OTC subject to stock as well as some Bureaux De Change. Also, the likes of Sovereigns are pretty small and can be easily couriered to you in small amounts from postal dealers without attracting attention.

As for storing it - you get a lot of value in a small amount of gold (it's heavy though) so storing it shouldn't be a problem and more than storing a bunch of coins and small bits of base metal would be. It's also extremely inert so you don't need to worry about it turning into papier mache or moulding like cash, or rusting like many base metals if you put it in a non-climate controlled environment.

Spending it in a SHTF environment - I suspect that gold would rapidly gain 'hard currency' status on the black market and as long as you have it in small units (like mini bars or coins) then shouldn't be too much of a problem exchanging it for goods and services.

Regarding as strategy for getting some, just switch your future savings to gold rather than accumulating more bank credit. Sovs are ideal as they are relatively affordable as well as being small and easy to store and transport.

With physical cash obviously being targeted for abolition, negative interest rates looming and more money printing highly likely, you'd be nuts not to take out some sort of 'insurance policy' for when the whole mess comes crashing down under the weight of the Central Bankersters fraud.

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As for storing it - you get a lot of value in a small amount of gold (it's heavy though) so storing it shouldn't be a problem and more than storing a bunch of coins and small bits of base metal would be. It's also extremely inert so you don't need to worry about it turning into papier mache or moulding like cash, or rusting like many base metals if you put it in a non-climate controlled environment.

Stopping people on the estate hearing about it, and then stopping them robbing it is another matter.

A lot of rich benefit claimants hide their money in gold and put it in a safe or hide it in the house.

I've seen a few people on benefit with more than 50k in gold stashed around the house.

Thats gold bars/coins not jewelry.

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Stopping people on the estate hearing about it..................

I've seen a few people on benefit with more than 50k in gold stashed around the house.

Thats gold bars/coins not jewelry.

They were obviously rubbish at keeping it a secret if you knew about it....

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They were obviously rubbish at keeping it a secret if you knew about it....

My Dads rich. He's got £10,000 in gold stashed in the shed....

Dads on benefit and loud mouthed, lippy kids go in pairs.

Im not joking - about the gold!

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My Dads rich. He's got £10,000 in gold stashed in the shed....

Dads on benefit and loud mouthed, lippy kids go in pairs.

Im not joking - about the gold!

Bragging about how much wealth you have (gold or otherwise) is NEVER a good idea.

If you are a halfway intelligent and discreet person, ie. not some scummy chav, you can accumulate and secrete a very large amount of wealth in Gold without anyone else needing to know about it.

That said, full marks to the chavs for having the sense to move into physical stores of wealth in the first place (even if it is motivated by scamming the benefits system). Puts them ahead of a lot of the population.

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Not this person but the same idea/scam.

Doh!

At least pull up a floorboard or something. Make a bit of effort at security, it's not that difficult. And be sure not to tell the girlfriend where you keep them next time :)

Edited by LC1

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Ten year fix for 2.9% oh my.

Why am I not borrowing borrowing borrowing.

2.9% for 10 years - wow. What happens when there is a run on the pound due to BREXIT or BREXIT fears - interest rates will need to go up. The sentiment appears to be that interest rate can't go up and are going negative - this suggests to me that the exact opposite is going to happen.

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I know what you mean, I'm really struggling to justify to myself my current lifestyle of having a modest house, a 12 year old hatchback, savings in the bank and my idea of being extravagant is treating myself to a takeaway once a week.

Give me one good reason why I shouldn't spend all my savings on a much nicer houses, get a flash car on pcp, buy even day to day items on a credit card, generally live beyond my means and just rely on endless money printing, zirp and debt forgiveness to bail me out.

I really think it's time I joined the party rather than being the sad loser stood outside watching everyone have a great old time of it.

You should have a credit card, go for a BA Amex that rewards you in Avios points, pay the bill off every month and by the end of the year you'll have built up enough to get yourself several flights abroad almost FOC

Return flights to Madrid for 2 cost me £70 a few days ago.

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