Mumsnet Debt Junkies

[Will!]

1 hour ago, Tulip_mania said:

People notice the weirdos, the 'beaker' one was the best/worst.

I’v never been on Mumsnet but everything I’ve read (not just on HPC) or heard about it makes it seem like a misogynist nightmare full of ghastly grasping harpies.

[PeanutButter]

1 hour ago, Will! said:

I’v never been on Mumsnet but everything I’ve read (not just on HPC) or heard about it makes it seem like a misogynist nightmare full of ghastly grasping harpies.

Spending excessive amounts of time in only one internet ecosystem will warp any individual’s compass. 

[Si1]

One debt junkie habit I've noticed is buying a new or nearly new car within a year or so of buying a house. Must be to do with low interest rates.

Edited March 9, 2019 by Si1

[disenfranchised]

14 hours ago, Tulip_mania said:

I think it's the 'freak show' mentality, there are a fair few (often not money related) threads on mumsnet that middle earning (so neither of the groups you describe) women I work with talk about with incredulity. People notice the weirdos, the 'beaker' one was the best/worst.

There's a constant battle on every part of Mumsnet between reasonable people and nutters regardless of income.

[disenfranchised]

13 hours ago, Will! said:

I’v never been on Mumsnet but everything I’ve read (not just on HPC) or heard about it makes it seem like a misogynist nightmare full of ghastly grasping harpies.

Do you mean misandrist?

[nome]

16 hours ago, Si1 said:

One debt junkie habit I've noticed is buying a new or nearly new car within a year or so of buying a house. Must be to do with low interest rates.

Not buying a new car... renting a new car (PCP'd or leased)

 

Along with effectively renting their new house off the bank courtesy of their 35 year mortgage.

Edited March 10, 2019 by nome

[winkie]

20 hours ago, Si1 said:

One debt junkie habit I've noticed is buying a new or nearly new car within a year or so of buying a house. Must be to do with low interest rates.

Got to show off the new car outside the new house, wouldn't want to let the street down......harder to get enough debt to buy a home if holding a car rental loan.....first things first.

[dougless]

In my road there are two sisters who have recently bought a house together.  Both have brand new high end cars but, according to their immediate neighbour, were mortified at the thought of having to deal with the cost of a simple household repair costing less than £200.

Edited March 10, 2019 by dougless

[Arpeggio]

On 09/03/2019 at 08:50, Tulip_mania said:

I presume that post tax must include things like tax credits and child benefit, as I drop about 10 percentiles between pre and post tax income.

Though always an interesting reminder to note that the 20% percentile is £15k and the 80th £40k, when you see stories about 'Middle Class' people on £100k/year pleading poverty, or public sector workers on £30k being described as 'low paid'

I wonder how come such difference between the gov figures of ~15k @ 20th% and statista figure of ~15k @ pushing up near 40th%.

https://www.gov.uk/government/statistics/percentile-points-from-1-to-99-for-total-income-before-and-after-tax

https://www.statista.com/statistics/416102/average-annual-gross-pay-percentiles-united-kingdom/

I wonder if the government like to exajurate a bit to keep people thinking they are lower then their piers and therefore want to make more taxable income.

33 minutes ago, dougless said:

In my road there are two sisters who have recently bought a house together.  Both have brand new high end cars but, according to their immediate neighbour, were mortified at the thought of having to deal with the cost of a simple household repair costing less than £200.

Wonder if that's due to their perspective of what a house is for. I guess you're not going to feel comfortable when something you see as a way to make HPI money starts costing you.

They "Know the cost of everything and the value of nothing" as they saying goes.

[thewig]

Do those natty little Audi a1s count as a high end car? Horrible tiny little plastic things with a few tactically placed shiny bits and the all important Audi badge slapped on all over for “premium” kudos

These things look like they won’t even last to the end of the lease, they remind me of the sort of tat you used to find inside “high end” Christmas crackers

[Will!]

1 hour ago, Arpeggio said:

I wonder how come such difference between the gov figures of ~15k @ 20th% and statista figure of ~15k @ pushing up near 40th%.

https://www.gov.uk/government/statistics/percentile-points-from-1-to-99-for-total-income-before-and-after-tax

https://www.statista.com/statistics/416102/average-annual-gross-pay-percentiles-united-kingdom/

The government data only describe individuals who have some liability to income tax.

[winkie]

Any stats on all people over the age of 18 a) working full time b) working part time ie,plus 16 hours pw....c) those left not doing a productive job to earn money, housekeepers, looking after children/caring for others, studying, sick, disabled, looking for work or those living from the income of investments such as rent income or dividends or pension income (tax payers or not)......we are all taxpayers, most of us are productive.

Edit to say some may fall into two categories......c) is only for those not doing a) or b).

 

Edited March 10, 2019 by winkie

[Arpeggio]

25 minutes ago, Will! said:

The government data only describe individuals who have some liability to income tax. 

I see. Who are the others? Are they not paying tax when they should or sumink?

[Tulip_mania]

1 hour ago, Arpeggio said:

I see. Who are the others? Are they not paying tax when they should or sumink?

There is no income tax payable on the first £11,800 (£12,500 from April) of taxable income, the 1st percentile line on the government table pretty much tracks the income threshold. So the government stats are percentiles of only 3/4ish of the population, their 1st percentile is roughly Statista's 25%.

 

 

[Arpeggio]

2 minutes ago, Tulip_mania said:

There is no income tax payable on the first £11,800 (£12,500 from April) of taxable income, the 1st percentile line on the government table pretty much tracks the income threshold. So the government stats are percentiles of only 3/4ish of the population, their 1st percentile is roughly Statista's 25%.

Many Thanks. I forgot about that.

[Monkey]

On 09/03/2019 at 12:59, Si1 said:

One debt junkie habit I've noticed is buying a new or nearly new car within a year or so of buying a house. Must be to do with low interest rates.

New car, new van, new tools, one of them going self employed.... seen it loads in my peer group.

It make me wonder if its tantamount to mortgage fraud, as they must have know thats what they was going to do, as its so soon after moving in that they do this, i'm talking within 2 months. If they did it before the mortgage they probably would have been refused it

Edited March 11, 2019 by Monkey

[Fromage Frais]

On 09/03/2019 at 12:59, Si1 said:

One debt junkie habit I've noticed is buying a new or nearly new car within a year or so of buying a house. Must be to do with low interest rates.

You have made it and are now enjoying a passive income due to capital appreciation.

Why not treat yourself now the hard work is over?

 

[Habeas Domus]

2 hours ago, Monkey said:

New car, new van, new tools, one of them going self employed.... seen it loads in my peer group.

It make me wonder if its tantamount to mortgage fraud, as they must have know thats what they was going to do, as its so soon after moving in that they do this, i'm talking within 2 months. If they did it before the mortgage they probably would have been refused it

It could also be that having become "responsible homeowners" they are now seen as a better bet for the loan sharks car finance companies.

[Si1]

On 10/03/2019 at 10:18, dougless said:

In my road there are two sisters who have recently bought a house together.  Both have brand new high end cars but, according to their immediate neighbour, were mortified at the thought of having to deal with the cost of a simple household repair costing less than £200.

My parents neighbour has a large tree that overhangs and shades my parents garden significantly. It has grown this way and my unofficial view is that it can't be legal and they have to have it cut back. It's severly impeding my parent's garden. Said neighbour has 200k odd mortgage (leafy suburb of South Liverpool), and two recent reg cars on the drive, one of which is a massive 4x4 station wagon thing .

 

Neighbour won't pay the £200 for a tree surgeon, because don't have the money.

Edited March 12, 2019 by Si1

[hurlerontheditch]

here is another corker 

 

https://www.mumsnet.com/Talk/property/3529392-buying-an-amazing-project-house-excited-but-scared#prettyPhoto

 

 

Quote

We're stretching ourselves massively and taking out a non- high st mortgage in order to borrow what we need, and will be interest only for at least the first couple of years, but we can do it.. there isn't much left over for renovation though.

I'm not currently working although looking with a couple of potential jobs coming up ??. So reliant on OH's salary alone at the moment, which is ok.. not amazing but reasonable for London.

AKA high interest rate

[mowlem]

Quote

Think what I mean is has anyone doubled their mortgage then totally regretted it?

If they have no savings, how are they going to find the extra money for the mortgage from their current expenditure? The drop in living standard needed to fund this will be huge. 

[dougless]

2 hours ago, Si1 said:

My parents neighbour has a large tree that overhangs and shades my parents garden significantly. It has grown this way and my unofficial view is that it can't be legal and they have to have it cut back. It's severly impeding my parent's garden. Said neighbour has 200k odd mortgage (leafy suburb of South Liverpool), and two recent reg cars on the drive, one of which is a massive 4x4 station wagon thing .

 

Neighbour won't pay the £200 for a tree surgeon, because don't have the money.

Its hard not to smile (or weep) when you hear stories like that.  It makes you wonder just how many people in the UK are in this predicament; whats the saying - one paycheck away from the street.

[hurlerontheditch]

6 minutes ago, dougless said:

Its hard not to smile (or weep) when you hear stories like that.  It makes you wonder just how many people in the UK are in this predicament; whats the saying - one paycheck away from the street.

except the banks will extend the mortgage term to reduce monthly payment etc.. got to protect the home owners at all costs

[dougless]

4 minutes ago, hurlerontheditch said:

except the banks will extend the mortgage term to reduce monthly payment etc.. got to protect the home owners at all costs

I fear you are right because 'home owners' are important and must be looked after....

[kzb]

3 hours ago, Si1 said:

My parents neighbour has a large tree that overhangs and shades my parents garden significantly. It has grown this way and my unofficial view is that it can't be legal and they have to have it cut back. It's severly impeding my parent's garden. Said neighbour has 200k odd mortgage (leafy suburb of South Liverpool), and two recent reg cars on the drive, one of which is a massive 4x4 station wagon thing .

 

Neighbour won't pay the £200 for a tree surgeon, because don't have the money.

They are legally entitled to trim back trees and bushes that overhang their property.  Any branches that come over the boundary can be pruned at that point.  I'm not sure if they could send the neighbours the bill for it though.