1. The chances of losing your home are slim When somebody falls behind on mortgage payments and shows little prospect of being able to pay, a lender may seek to repossess the property. However, in the first three months of this year, there were only 750 homes and 410 buy-to-let properties that were repossessed, according to figures from banking trade body UK Finance. Banks say they do not want to repossess homes and would much rather come up with a payment plan with their customer. Everyone's tipping point from stretched borrowing to unmanageable debt is different, but the number falling over the edge so far is very low. 2. Higher house prices and savings create a buffer During the pandemic, there were two significant trends among those whose incomes were relatively unaffected by illness and lockdowns. The first was a race for space, which created high levels of demand from homebuyers. That raised house prices sharply. In turn, that means millions of homeowners have more equity in the property. In other words, the difference between the value of the home and the mortgage is greater. When homeowners come to get a new deal, that could mean the home loan is not as expensive as it might otherwise have been. The second trend was high levels of savings, as spending options such as overseas travel were diminished. Some of that money is now being used to pay down mortgages. THE RATES NOW ARE SLIGHTLY BELOW THOSE OF 2008! Still half a percent below! Now, lenders are testing applicants to see whether they can cope with interest rates of 8% or 9% - although each lender's exact requirements are commercially sensitive. Faced with a rising interest rate and more expensive repayments, existing borrowers are considering their options to mitigate the higher bills. That could include extending the term of their mortgage - although that does mean that ultimately they will pay more over a longer period of time. However, lenders are encouraging borrowers to discuss what can be done with them or a broker, rather than burying their heads in the sand. SOME BULLET POINTS FROM AN ARTICLE............. [ABOVE] My comments lenders have a system highlighted above where they process the ability of persons not at the rate they pay current to when they start but to a rate which is around 3% + higher. So even people starting a mortgage or redoing their payments in 2016 onwards would be under the 7% cap/ gap! It depends of course on the person, they may overload themselves, with treats / cars etc. I know of 2 families that are still paying off holidays from 2018 & 2019... good job we had covid! that holiday was cancelled! [ they spent circa £ 4000 plus on them and took out loans for circa half of it for 5 year terms! [ interest was so low! ] repayment is about £35 pm x 2 = £70 As I understand it they had done that for 2-4 years! before these instances! one of them there fixed rate mortgage at 3.5% ends in September! SO really not that bad yet! and a hoped for learning curve for the future
Labour needs to be "bolder" and "more ambitious", rather than "tinkering around the edges", the head of the UK's second largest union has told the BBC. Unite leader Sharon Graham warned that otherwise "apathy" would be the winner at the next general election. The union gives more money to Sir Keir Starmer's party than any other. Ms Graham saw off a bid this week by some members to end Unite's affiliation to Labour, which guarantees the party nearly £1.5m a year. She argued it would be the worst time to leave the Labour Party when it was "within touching distance of power, because that would reduce union influence". Ms Graham's membership spans public and private sectors, so what influence does she want to exercise?
Ms Graham said the party must "talk about what they can do to change Britain. People want something to vote for." She told her members this week that maintaining Unite's financial link to Labour would give her "maximum leverage" with the party.
Momentum, the left-wing campaign group set up to support Jeremy Corbyn when he was Labour leader, said fixing the "mess" left by the Conservatives "requires real ambition", "real investment in our decaying infrastructure" and "an end to the scourge of low pay". It described the two-child benefit cap as "a heinous policy" and called for it to be scrapped. Mick Lynch, head of the RMT union, which is not affiliated to Labour, said many people could not "spot the difference" between Labour and the Conservatives. "He's got to show that he's on the side of working people and progressive politics, and I don't think we're seeing that," he told Sky's Sophy Ridge on Sunday programme. other bits to note! [ above ] Momentum! [ my take on it ] The whole system around child benefit housing benefit was packaged and brought together as one whole entity[ although not as a single payment ] but worked out as a general cover of topping up. The problem that was child benefit was that benefit for more than 2 kids was an incentive ..to have more? WHEN YOU YOU DIDNT GET THE EXTRA FOR 3 4 5 6 7 8 kids the birthrate in certain groups fell back! Currently the imigration picture is one of many more men than families! so will they in the next couple of years want to be housed and then start bringing over family,? [ a lot already do especially students granted a residency?] or asylun seekers given residency ....?
The Labour Party represents working people, the unions represent the interests of workers, negotiating on their collective behalf with their employers. They also helped set up the Labour to allow working people to have a say in Parliament, and still support them financially, of course the unions would prefer a Labour government. Unions, as well as Business should be consulted by a successful government. They shouldn’t be considered “the enemy”, neither should business, ALL of society should be included.
I watched Starmer for 5 minutes this morning on LK, what a boring farce. Can't wait after Mick Lynch comments just after to see how squirming Starmer deals with reality. Train drivers on £65k a year, Doctors retiring on £65K a year, Bristol and Bath moving to the UK annually - is it any wonder we need more houses, it's bloody madness. And folk think it will be different with another party in power. And the cycle starts all over again.
Out of interest what would you have liked, expected, Kiers stance to have been this morning? they’re effectively 2-0 up with 20 mins to go, hold your nerve, keep doing what you’ve been doing to get you to this position and don’t commit to many men forward leaving space for the opposition exploit. That was his game plan
I guess you may read the 2 or 3 reports featured various places etc's Quite interesting to see the comments from UNITE .. apparently union wishes to de affilitate to Labour party [ same as RMT already is ] and ms Graham doesnt! ...reason she does not want to lose power over the strings currently in place!? Apparently next week or so a big meeting of unite /Labour/ labour members [ not necessarily union members ] and going to discuss the "policies/ way forward! " Ms G wishes pursue a nationalization of some industries!.. [[ good or bad?? I am not sure]]. KS was very evasive with some of his answers Laura K's interview ... and back tracked a bit on some of his previous " we will..." 's. Would not commit to wage increases! I guess that is because he doesnt want to be tarred with what he would settle with! Which makes sense but arouses suspicion by not answering! as he doesnt want to upset the unions?
not far off it now! have 2 doctor friends who retired 5 years ago aged in late fifties still not on OAP! One is on 40p in £ tax ... he let it slip, clever mind Wife does a part time job and he gets her tax allowance! but still means he pays 40p in £
When Starmer comes to power he could well be on his own with his left leaning policies and anti fossil fuel agenda as the majority of European countries are definitely turning right with Spain being the latest This is what happens when governments and politicians don’t listen to what their citizens want especially when it comes to Net Zero, immigration and high taxation Even ‘open borders’ Germany whilst under Merkel are having a big rethink on their immigration policies, and under pressure from the likes of Mercedes Benz they have pushed back their own mandate and goals on electric cars by at least a further decade, while Labour insists on no new licences for North Sea oil and gas exploration at a time when Britain needs it most. But then they are being lobbied by the likes of Dale Vince and co But overall the Tories only have themselves to blame for the likely wipe out at the next election for not being conservative enough by a country mile, and having the likes of Carrie Johnson influencing our blinkered approach to net zero which is what the globalists want
In terms of Nationalised industries, it’s a tough one, no one would argue the old model of the seventies worked, however the model currently in use doesn’t either.
Didn't Starmer, R&W amongst other remainers tell us after Brexit the UK would go far right ? And would you believe it's Europe lurching right. Ironic isn't it.
Not on the fence, needs to be looked at industry by industry, ultimately they are the responsibility of the state, because if as a private business they fail, the state will step in and they know it. Take water, the water companies carry on paying their shareholders massive amount’s despite the sewers being broken, having to pump raw sewage into rivers, hose pipe bans having to put in place, whilst also being millions in debt. I have no issue with private ownership if it works and is economical. But i do have a problem with private companies ripping off tax payers, which unfortunately many do.
I don’t remember saying THAT about Brexit. Crippled, wounded, disaster, shot in the foot maybe but lurching right I don’t think so. I can only comment on Spain, but I suspect the lurch to the right in Europe IMHO will be caused by their people’s anger at the current governments - which happen to be left wing. It’s a kick against the current regime - same as here only the other way around. Times are hard and the current government will be kicked for it - whichever ‘wing’ they hail from. PS - I really hope Vox don’t get given any power in Spain - they are a very nasty group indeed. Amongst other vile policies they intend to shut the border and blockade Gibraltar into becoming part of Spain. The stupid fools don’t realise that this would only harden the people’s resolve to remain British - just as a tiny minority of then were beginning to soften because of Brexit
The unelected beaurocrats in Brussels have a lot to answer for whether you are pro or anti Brexit Personally I’m glad we’re shot of them in a lot of respects and can aid who we want when we want to. Taking the lead in the case of Ukraine Ursula Von Der Leyen is considered Germany’s worst ever defence minister but it looks likely she will get a top defence job at NATO, above Ben Wallace who is infinitely more qualified for the role and all because Biden and his muppets are pro EU and anti British. It’s all a carve up As for Sweden, Italy, France, Spain and even Germany looking to the right to address their domestic issues, who can blame them ? Hungary are already centre right and Poland may follow. All of those nations citizens are fed up with the same failings of their respective Governments, that the people who elected them didn’t ask or vote for. It will happen here too if the people in power don’t get their heads out of the sand and quick. And they can forget forcing digital IDs on us too and getting rid of cash. The WEF and co just want to control us all and dictate what we think, say, do, eat and spend our money on. It’s all very sinister
TODAY IT WAS REALLY TAME KS had a different script writer! but exchanges were less vitriolic although PM gets the last laugh. RS was pullewd up by the speaker ref the above in quotes !! A shame really as the Q deserved an answer and the Q was put in a way that RS answer was left without a fundemental point on KS strategy regarding the NHS. As far as ask a Q get an answer is concerned we will not learn anything, as KS has the choice to ignore the answer in part and just highlight a single minor point or state with a attempt at sarcasism not the answer he wants to hear! Most weeks the opposition throws up inflation ,,, surprise surprise this week it didnt down .8% enough ,aybe for BOE to not raise rate [ intention I believe was by .5% ] . Stock ,arket responding well to new rate 7.9% ..... imagine no strikes and inflation might have been running at 5% thats it for 6 weeks.
