|
Post by stuart1974 on May 30, 2023 18:52:57 GMT
Stand by for more pain. Thankfully I'm near the end of our mortgage, but I'd hate to be looking at the moment. I don't even think it's the right way to sort out this inflation increase, it's not really driven by consumers this time. "Nearly 10% of UK mortgage deals have been taken off the market since last week amid concerns about how high interest rates will go, figures show. Financial data firm Moneyfacts said nearly 800 residential and buy-to-let deals had been pulled as lenders were reassessing their offers. Meanwhile, average rates on two- and five-year fixed deals have also risen. It comes after higher-than-expected inflation figures raised forecasts of how much UK interest rates will go up. Official figures last week showed the UK inflation rate - which charts rising prices - slowed in April by less than expected to 8.7%. That led to a strong reaction in the markets, with investors now predicting the Bank of England will have to raise interest rates above their current level of 4.5% to as high as 5.5% to try to slow price rises." www.bbc.co.uk/news/business-65752400
|
|
|
Post by Gassy on May 30, 2023 19:50:51 GMT
Stand by for more pain. Thankfully I'm near the end of our mortgage, but I'd hate to be looking at the moment. I don't even think it's the right way to sort out this inflation increase, it's not really driven by consumers this time. "Nearly 10% of UK mortgage deals have been taken off the market since last week amid concerns about how high interest rates will go, figures show. Financial data firm Moneyfacts said nearly 800 residential and buy-to-let deals had been pulled as lenders were reassessing their offers. Meanwhile, average rates on two- and five-year fixed deals have also risen. It comes after higher-than-expected inflation figures raised forecasts of how much UK interest rates will go up. Official figures last week showed the UK inflation rate - which charts rising prices - slowed in April by less than expected to 8.7%. That led to a strong reaction in the markets, with investors now predicting the Bank of England will have to raise interest rates above their current level of 4.5% to as high as 5.5% to try to slow price rises." www.bbc.co.uk/news/business-65752400Spending/economy is only going to get worth towards winter/next year as well. Think I read somewhere, something like 70% of mortgages will be off the fixed rate by then, thats when the real pinching will kick in, alongside the increase in energy bills again. Ours is up in March, based on a quick research about a month ago - ours will go up about £800 a month. We're fortunate that we can swallow that up, but many won't be able to. Which I guess is when properties will start to sell and drop in price?
|
|
|
Post by oldie on May 30, 2023 20:22:43 GMT
Stand by for more pain. Thankfully I'm near the end of our mortgage, but I'd hate to be looking at the moment. I don't even think it's the right way to sort out this inflation increase, it's not really driven by consumers this time. "Nearly 10% of UK mortgage deals have been taken off the market since last week amid concerns about how high interest rates will go, figures show. Financial data firm Moneyfacts said nearly 800 residential and buy-to-let deals had been pulled as lenders were reassessing their offers. Meanwhile, average rates on two- and five-year fixed deals have also risen. It comes after higher-than-expected inflation figures raised forecasts of how much UK interest rates will go up. Official figures last week showed the UK inflation rate - which charts rising prices - slowed in April by less than expected to 8.7%. That led to a strong reaction in the markets, with investors now predicting the Bank of England will have to raise interest rates above their current level of 4.5% to as high as 5.5% to try to slow price rises." www.bbc.co.uk/news/business-65752400Spending/economy is only going to get worth towards winter/next year as well. Think I read somewhere, something like 70% of mortgages will be off the fixed rate by then, thats when the real pinching will kick in, alongside the increase in energy bills again. Ours is up in March, based on a quick research about a month ago - ours will go up about £800 a month. We're fortunate that we can swallow that up, but many won't be able to. Which I guess is when properties will start to sell and drop in price? And when house prices start to fall banks will be left holding mortgages whose outstanding capital value is less the asset value of the home. Cue 2007 all over again
|
|
|
Post by yattongas on May 30, 2023 21:03:23 GMT
Spending/economy is only going to get worth towards winter/next year as well. Think I read somewhere, something like 70% of mortgages will be off the fixed rate by then, thats when the real pinching will kick in, alongside the increase in energy bills again. Ours is up in March, based on a quick research about a month ago - ours will go up about £800 a month. We're fortunate that we can swallow that up, but many won't be able to. Which I guess is when properties will start to sell and drop in price? And when house prices start to fall banks will be left holding mortgages whose outstanding capital value is less the asset value of the home. Cue 2007 all over again You really think so ? It’s a hard one to call , they’ll just cut back on the house building even more ( down to 100k a yr) and that’ll maybe keep prices relatively stable with the population growth we’re having . We’re going to end up with a truly two tiered society, kids of house owning parents inheriting their wealth to get on the property ladder. The rest will be buggered . Vote Tory 🇬🇧
|
|
|
Post by yattongas on May 31, 2023 11:33:43 GMT
|
|
|
Post by stuart1974 on Jun 1, 2023 15:14:54 GMT
Is there a reason why we can't exclude the main house from IHT? It would go a long way to reduce the criticism.
|
|
|
Post by aghast on Jun 2, 2023 17:23:05 GMT
Is there a reason why we can't exclude the main house from IHT? It would go a long way to reduce the criticism. And yet some apologists say the top earners pay an unfair share of the tax bill.
|
|
|
Post by yattongas on Jun 6, 2023 14:42:59 GMT
|
|
|
Post by francegas on Jun 6, 2023 16:22:03 GMT
Is there a reason why we can't exclude the main house from IHT? It would go a long way to reduce the criticism. Hopefully IHT will be scrapped altogether. It's a double taxation and morally wrong.
|
|
|
Post by yattongas on Jun 6, 2023 17:48:33 GMT
Is there a reason why we can't exclude the main house from IHT? It would go a long way to reduce the criticism. Hopefully IHT will be scrapped altogether. It's a double taxation and morally wrong. How does the inheritance tax work over in France 🇫🇷? Does your house automatically go to your children equally or something like that ?
|
|
|
Post by francegas on Jun 6, 2023 18:03:04 GMT
Hopefully IHT will be scrapped altogether. It's a double taxation and morally wrong. How does the inheritance tax work over in France 🇫🇷? Does your house automatically go to your children equally or something like that ? Previously you couldn't diss inherit your children (still the practice for the French). When my wife and I bought the house we were at the time not married. Had something happened to her I would have lost the house and any monies held here in France dispite investing 50% of the house purchase as my wife has children from a previous marriage. The law has now changed here for brits in that we can now have everything here under our UK will which of course we have implemented.
|
|
|
Post by yattongas on Jun 6, 2023 18:20:22 GMT
How does the inheritance tax work over in France 🇫🇷? Does your house automatically go to your children equally or something like that ? Previously you couldn't diss inherit your children (still the practice for the French). When my wife and I bought the house we were at the time not married. Had something happened to her I would have lost the house and any monies held here in France dispite investing 50% of the house purchase as my wife has children from a previous marriage. The law has now changed here for brits in that we can now have everything here under our UK will which of course we have implemented. Phew 😮💨, all your £££££ millions are safe !
|
|
|
Post by francegas on Jun 6, 2023 18:33:11 GMT
Previously you couldn't diss inherit your children (still the practice for the French). When my wife and I bought the house we were at the time not married. Had something happened to her I would have lost the house and any monies held here in France dispite investing 50% of the house purchase as my wife has children from a previous marriage. The law has now changed here for brits in that we can now have everything here under our UK will which of course we have implemented. Phew 😮💨, all your £££££ millions are safe ! Millions.... are you having a laugh? Our estate doesn't fall within an IHT liability, that doesn't mean I can't have a view on a tax that is morally wrong. I take it your happy for people who during their life have been fortunate enough to accumulate funds or bought a house, and through no fault of their own, the value has soared whilst paying tax on that money and on the house purchase to lose 40% (above the threshold) of that because they wish to pass it on to family. Why is it family have to pay IHT yet if funds are left to charities they are exempt? Also you have 6 months to pay the tax before they charge you interest (that's really fair isn't it) as some may have to sell the property to pay the tax and that could take more than 6 months during which time the value of the property could have dropped. As I say it's a tax on the dead and morally wrong.
|
|
|
Post by francegas on Jun 6, 2023 18:42:39 GMT
Previously you couldn't diss inherit your children (still the practice for the French). When my wife and I bought the house we were at the time not married. Had something happened to her I would have lost the house and any monies held here in France dispite investing 50% of the house purchase as my wife has children from a previous marriage. The law has now changed here for brits in that we can now have everything here under our UK will which of course we have implemented. Phew 😮💨, all your £££££ millions are safe ! Don't really understand your comment as I'm pretty sure if you were in the same situation you would safeguard yourself from losing your own house should your partner pass away. Nothing to do with safeguarding money as it now falls under our UK will and would incur an IHT liability if we had one.
|
|
|
Post by yattongas on Jun 6, 2023 18:43:06 GMT
Phew 😮💨, all your £££££ millions are safe ! Millions.... are you having a laugh? Our estate doesn't fall within an IHT liability, that doesn't mean I can't have a view on a tax that is morally wrong. I take it your happy for people who during their life have been fortunate enough to accumulate funds or bought a house, and through no fault of their own, the value has soared whilst paying tax on that money and on the house purchase to lose 40% (above the threshold) of that because they wish to pass it on to family. Why is it family have to pay IHT yet if funds are left to charities they are exempt? Also you have 6 months to pay the tax before they charge you interest (that's really fair isn't it) as some may have to sell the property to pay the tax and that could take more than 6 months during which time the value of the property could have dropped. As I say it's a tax on the dead and morally wrong. Have you had a humour bypass ?
|
|
|
Post by francegas on Jun 6, 2023 18:50:54 GMT
Millions.... are you having a laugh? Our estate doesn't fall within an IHT liability, that doesn't mean I can't have a view on a tax that is morally wrong. I take it your happy for people who during their life have been fortunate enough to accumulate funds or bought a house, and through no fault of their own, the value has soared whilst paying tax on that money and on the house purchase to lose 40% (above the threshold) of that because they wish to pass it on to family. Why is it family have to pay IHT yet if funds are left to charities they are exempt? Also you have 6 months to pay the tax before they charge you interest (that's really fair isn't it) as some may have to sell the property to pay the tax and that could take more than 6 months during which time the value of the property could have dropped. As I say it's a tax on the dead and morally wrong. Have you had a humour bypass ? Not yet!
|
|
|
Post by yattongas on Jun 7, 2023 15:45:09 GMT
|
|
|
Post by francegas on Jun 7, 2023 17:17:18 GMT
Maybe it would have been better to not have introduced the furlough scheme let millions lose their jobs and millions of businesses go down the pan.
|
|
|
Post by yattongas on Jun 7, 2023 17:31:59 GMT
Maybe it would have been better to not have introduced the furlough scheme let millions lose their jobs and millions of businesses go down the pan. Ah that’s cool then , you’re happy with 21 billion of fraud ? You would be going apoplectic if this happened under a Labour government. You right wing loons do make me laugh 😂
|
|
|
Post by Gassy on Jun 7, 2023 19:57:17 GMT
Maybe it would have been better to not have introduced the furlough scheme let millions lose their jobs and millions of businesses go down the pan. Tbh, I agree with you. $21bn is a necessary price IMO. However it begs a few questions: - Why was it that much? A more competent government would have minimised that. Your reply kind of suggests it was economy crash or $21bn which isn’t really the case, there’s an in between. - Why was the UK economy still the worst hit of the main European countries? Kinda feels like a lose lose? A genuine question for you, what are your thoughts on the government taking legal action on the covid enquiry? Although I think Boris is making a political decision, I’ll give him credit for handing (or wanting to) his messages over. Although let’s be honest he could easily handover the messages from pre-2021. Let’s be honest that’s the real stuff we’re actually after.
|
|