Lloyd

how true is this lol.

Christian and Beccy

iTrader: (14)

The point is that when we took our house on, which is not anything that unusual, it was well within our budget, but now, 4 years later we can barely afford it.

Christian and Beccy

iTrader: (14)

So thats the excuse is it? Because of the poorer countries we must now all suffer a little?

There is just no comparison. Countries like Africa etc are poor for many reasons, few of which are relevant to us, such as climate and so on.

Chip

iTrader: (3)

Thats what happens if when you take a mortgage on for a property, you make assumptions that the financial situation (particualy interest rates) wont get dramatically worse.

Lots of people in the 80s made the same mistake as you, and ended up in negative equity as a result, mainly due to shortsightedness or blind optimism.

Sadly, thats just life, like with most things financial values go down and up.

badnews

better get some chum in for tea christianstart now don't wait for old age or fishy kitty kat may be to your liking luurrvv a bit of salmon

RobL

money is getting tight,all our overtime has been stopped at work
kind of need the overtime to enjoy the finer things in life

Jim Galbally

was about to write what chip said re: morgage.

be it down to irresponsible lending or ignorant consumers the fact is thats this is what can happen and hashappened

and im not comparing our situation to africa. i'm making a call on the mindset, the "we should be entitled to..." attitude. the thing is that all this stuff we think we're entitled to has to come from somewhere, we dont live in a perfect world and likely never will do for at least the next few dozen generations (if ever)

carlo

iTrader: (4)

Is there any indication when the financiall state is going to get better?

Chip

iTrader: (3)

Who says it will?

Perfectly possible it will get far worse first, and may never return to how things were a few years ago.

Jim Galbally

carlo, it's not even started to get worse yet

badnews

nope it wont get any better end of storie it will only get worse as the population grows. more houseing for scroungers more tax'sto pay for it how can it get better

cabrio zo

8% is Ł13k off our house price (valued at last years prices) luckily that means it still has Ł16k equity, although its all relative, not planning on selling so does it really affect us

I've started shopping at Aldi to save a bit of money got a Ł350 Sierra to go back and forwards to work I could even walk/bike if money was that bad. J got the Capri to run to work in (although he may get company van back, which he fuels with his own money) but at least we get to keep the cosworth (Renault 5 gone, that was a luxury to keep sat on the driveway for the odd drive here and there) we're 3 years in to a great fixed mortgage rate, though may not be as lucky in two years time when need to renew, healthy joint account - but if we go for pint one or twice a week, or eat out I end up with zero in my personal account.

At the moment I say we're fairly lucky, as C&B says, not on the breadline, but careful with spend

I also I think credit has been far to easy to get, too easy to get into debt

Z

Chip

iTrader: (3)

When I fixed the deal on my last mortage, I did so over a 25 year period.
This cost me .1% more interest than taking the 3 year deal I was offered.

IMHO it was worth the extra 12 quid a month to ensure that I didnt ever have to remortage again if I didnt want to, seemed like cheap insurance against the mortgage market changing, im sure the same sort of option was available to the thread starter and the others commenting on here about worries over their next mortgage deal, if they had looked into it and given it serious consideration.

Aaroncast

The Uk Is F-----ed ----
Look Around You To See Why!!!!!!-------- -im 54 And Have A Long Memory,
The British Public Have It All To Answer For M8 We Should Have Said No To Immigation Years Ago------------ Your Now Paying The Price(and Increasing!!)
Dont Give Me That Crap Its Nothing To Do With Migrants !!-it Is<<
Boat People -africans-chinese(although Chicken Balls Are To Die For)!lol-indians (not The Apache Ones!)-asians- Turkes/etc Etc------ We Are Now A Minority In Our Own Native Country---------think Of This-you Can Put A Horse On The Moon -
But Its Still A F--------g Horse!!!!!!!!!!!!!!!!!!!!!!!!
This Is Not Intented To Be Racist But If(( You))) Look Upon Fact As Being Racist Then Its Racist-in Your Eyes--------------

Sorry But It Wont Get Better, From Now On Its Down Hill>>>>>>>>
And Some!!!!!!!!!!!!
45.0000 Houses To Be Repossed In The Next 12 Months???
Mega Unemployment In The Building Industry(im A Joiner)
Immigrants Working For Food!!!!!!!!!!!!! Cash!!!!!!!goverment Pays Their Rent/accomidation Etc!!--------------
Tried To Get A Mortgage Recently ???- No And You Never Will Now
Doom A Gloom !!!!!!!!!! But Reality Im Sorry To Say------

Jim Galbally

aaroncst, some great points you're raising there. i'm extremely interested to see how immigration has had a negative economic impact on this country, could you show me some facts and figures as proof please

Chip

iTrader: (3)

Of course he fucking cant, many of the migrants we have allowed into this country have made a massive positive contribution.

Its all the white trash council scum im paying for out of my taxes that I object to, not philopino nurses who come here and work hard doing a great job etc.

Big G

Its good, another 12 months at least of dropping even better IMO

Too many people bought houses to profit thus aided the market rise, now they are left with less chance of a profit they get a whinge on,
Make your house a home and be happy

MikeR

I do feel really sorry for you guys that pay taxes, my misses pays a fortune in tax each month, she got a 240 pay rise and that put her in another tax band and she lost it ouch

Mike

Jim Galbally

chip,

no, REALLY?

MikeR

The immigrants always do a good job of washing my cars,

Mike

Chip

iTrader: (3)

Thats nonsense, your accountant has done something wrong IMHO.

If you move tax band with a pay increase, its ONLY the money above the threshold that is taxed further.

So she might have had to pay 40% on the 240 quid (ie 96 quid) in taxes, but she wouldnt have had to pay anymore on the rest of her earnings, so would still be 144 quid better off.

Dicko&Vacant

iTrader: (3)

we are struggling a lot more than we used to, pretty much everything that comes in now goes back out on bills and food shopping and if it gets much worse then we wont have enough money to pay our bills putting it simply.

Hope something changes soon otherwise like many we are up shit creek without a paddle.

Im looking at getting a job on a night to try and bring extra cash in, but by the time Lee is home from work to look after kids ill find it pretty much impossible

Ginge !

you only pay tax on the extra earnings that take you over it, its things like company cars that affect the small payrises i thought or am i wrong

earn over 40k is it and pay 40% on the extra over that amount meaning she wont loose just 40% of it but she would loose 23% anyway so not that much more overall,,,,, considering its ONTOP of what she was payed

cabrio zo

I don't think I could afford to have children, because of our earnings we wouldn't get a penny in benefits, whereas if I was a single Mum who 'couldn't' work because I had a kid I'd get a council place and benefits to look after me,

Z

MikeR

In fairness she does have an accountant looking at it, l dont really follow because l dont have to worry about tax, but the more she can get back the better for me lol

Mike

Chip

iTrader: (3)

Due to tax credits you would get more money working, than you would not working.

You dont see single mums affording cars generally if they are on benefit, they get enough to live on, but not any of the luxuries many of us enjoy etc.

Its an easy way of having enough money to cope without ever having to lift a finger if people opt for benefits, but they arent wealthy.

ballin

iTrader: (1)

absolutely, really pisses me off when people say things like that!

Chip

iTrader: (3)

Indeed, just breeds the sort of ignorance that make people think the government are "ripping us off" in all sorts of ways that they arent.

Its better to focus on the true ways instead

MikeR

I am very very sorry if l have upset you, it really was not my intention

Mike

Ginge !

are we REALLY struggling though,, honestly ?

i used to get by on 12k a year a few years ago, that was sort of tight but do able,,,, and i live in central london not in the highlands

i earn a little more now and still seem to be almost the same but i seem to waste cash more than before on shite i wouldnt bother with usually

im about to take a paycut on a new job but will be able to get by i hope ( really hope)

people with morgages i dont see why your complaining as you can ALWAYS sell up and rent private,,,,, no wait that WORSE than the morgage aint it !


tighten belts or get another job is the option i guess, this aint just sneeked up on us, we been told about it for 2 years atleast,,,,, my old boss warned me when i started work about getting loans out as in 2 years its gonna hit the fan,,, fuck me was he right but everyone on here was going on about " people will always buy houses" ect ect ect

my old man worked 60 hours a week till he was retired due to ill health and had fuck all to show for it apart from hes pension hes got now but back in the 86 i rememeber my old man having the house reposessed, car taken away and folding hes business

you guys aint got a clue what "hardship" is till your 7 years old watching you old man crying and saying sorry whilst trying to get you to sleep,,, or even worse waiting in the DHSS for money JUST to get food for hes family even though hes employed 30 people in the area since he started hes business there in the early 70's

people moaning about not being able to get a fucking pint or go to the cinema,,,, just thing what some of your parents went through in the REAL recession that WASNT caused my borrowing money/lying on you income to get a morgage you cant really afford

Big G

Know lass who's just dropped her 2nd, and openly admitted before it would be a daft move financially for her to go working as she would be worse off, as it stands her house, council tax etc are paid for plus whatever else she gets in benefit, If she went working it would be bye bye to most of that.

Porkie

iTrader: (1)

get a job that pays better or get a smaller house or find another way to decrease your outgoings.

Grates on me when people moan about all this stuff...

Move country, move to a smaller house or change jobs or get another.... you have all those options available.

So you bought a house, interest rates change and now you are struggling to afford it? er and? thats the risk you take surely?

You and your family have your health and have options and choices. Some people will kill to be as fortunate as that!

Lifes got a bit tougher? boohoo!

Wake up mate! Its still super doooper compared with most of the world!

dunketh

The only thing you can do if your house drops into negative equity is sit tight!
The flat I bought with my ex 10 years ago cost us 24k and it was HUGE.
The guy downstairs paid 80k for his years ealier and had regretted it ever since.
However, when the wife and I were looking this time around (2 years ago), the same flats are going for 110-115k.

My old neighbour may have been stuck there 10/20 years but he sold it in the end.
Of course you've still got to find the extra money each month for mortgage increases, and if you live in a 1 bed shoebox and suddenly have triplets - you're fucked.

Porkie

iTrader: (1)

OMFG!!! just read what Ginge wrote... and I actually agree with most of it!!

Wow!

I agree with Ginge and I am gutted Ima has left! WTF happened there then

Ginge !

BOLLOX,,,, why do people claim this shite i dont know,, the government give WORKING FAMILY TAX CREDIT, i get a extra 200ish quid a month i think for having 1 child,, im the ONLY one who works in my house from when my little one was born and i managed to get by YET my little ones mate at schools single parent mum PROPER scrapes a living to get by and im FAR from well paied

infact people on low incomes WITHOUT kids also get working tax credits to bump there wages up so theres NO reason NOT to be at work

the only issue ive got now is the missus has been offered a job but we are struggling for child care to take our little one from7am to school then to collect from school and look after till 5pm when the missus would get back,,,, that aint covered for some reason by the goverment otherwise MORE parents would be able to work !!

Chip

iTrader: (3)

Nonsense, she would be barely any better off, but she would be better off.

People just dont look into enough of their entitlements when they make statements like that.

Best bet though, is work cash in hand and still claim the lot and also pay no tax at all, thats where the smart option is, lol

Big G

Cant do that, drop down a peg or 2, what will the neighbours think

MikeR

But that is not morally right is it Chipster ??

Mike

Big G

Just going off what she says, I know she got a high rent house but dunno if its being paid for 100% as I dont know the allowances.

Cash in hand is good, but gotta watch what you say as there is always some cunt who will grass you up