Reply With QuoteMy CFO (aka Mrs TT) receives a stupendous monthly allowance to ensure I never have to open a brown envelope. I'll know we are in trouble if the rate of incoming hats, bags and shoes slows.
I predict a riot...but in all seriousness wait till all this kicks in next winter. There will be civil unrest.
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My CFO (aka Mrs TT) receives a stupendous monthly allowance to ensure I never have to open a brown envelope. I'll know we are in trouble if the rate of incoming hats, bags and shoes slows.
My mums house went for over 50k over asking I’m not sure how many houses sell for the asking price anymore the houses in England now just seem to be sold in what effectively are auctionsOriginally Posted by Templogin
Same here - Higher end stuff is sold before the sign goes up and I don't see anything else lasting much past a week.
And just like Canada paving the way for modern day democracy, we will be labelled terrorists and have our bank accounts frozen if we so much as think of stepping out of line
I certainly have to think about my outgoings, not least because it looks like another year of no pay rises (public sector). Usual being more cautious about where and how I spend money, but the biggest hit is going to be on motorcycling. Going out for long days and having lunch etc out, will need to be curtailed a little and a lot less eating out on those days. On the plus side, I will probably end up cycling and walking more.
For those interested in historical UK mortgage rates as recommended by the Building Societies Association there's an enlightening PDF at -
https://www.bsa.org.uk/BSA/files/5c/...21c25f3cbd.pdf
A few things to note:
These are recommended rates; many societies charged more.
In the late seventies (when I took out my first mortgage) High St. banks weren't involved in mortgage lending to any great extent. It was BSs (local & national) who had 96% of mortgage lending.
It certainly wasn't easy to get a mortgage in the seventies, particularly as a first-time buyer. Many societies charged a premium for an initial mortgage.
______
Jim.
My mate had the same problems he was looking for a 4 bed detached house in Macclesfield circa 500k last year and he got outbid on 9 before he finally got one he said most had gone in a few hours before he even got to look at them
Yes, just totalled up Netflix, Prime, Spotify and Zwift. Nearly £60 a month, so I will cull down one a month, ending up with just Prime.
Smokers with a 20 per day habit could likely save c.£100 per week / £400 per month if they quit ... But how many would actually consider quitting?
dunk
"Well they would say that ... wouldn't they!"
Here's the gamble, fixing my mortgage for 3 Years will likely cost me an extra £190 per month. A 6% interest rate hike would cost around £500 per month for the length of the hike. Do I feel lucky?
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We had an offer accepted on a house 2 weeks ago, mortgage lined up but we’ve pulled out as I can see problems ahead with internet rate rises. We Can afford it and a sizeable increase but am gambling on there being a few having to rethink there financial position and sell in the next 24 months with a bit of a price drop.
I feel sorry for carers who work day in day out looking after people and are getting close to minimum wage, they’re the unsung heroes in my book that deserve a workable pay rise.
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Add in Sky and I can see a lot of people cutting back on monthly subs. Phone upgrades either being sold, or transfer to a sim-only.
Can't imagine how people who live right up to their income are going to save enough to pay the increased energy bills that are coming.
I envy people who can be bothered to budget. I'm sure I'd be a lot wealthier if I did, but probably won't do anything new in reponse to what's happening.
I just had an offer accepted on a house but there are complications with tenants in situ which is giving me cause to pause. The cost of living crisis has to bite soon and this will surely have an impact on house prices. I'm in no rush so am tempted to back off and wait for the inevitable cooling of house prices. I'm sure I'll get more for my money in a year or two.
The estate agents here seem to be struggling to get properties to sell at the moment after a mini glut only a few weeks ago.
Well......Do you punk!
Respect.
Started out with nothing. Still have most of it left.
Blimey.And just like Canada paving the way for modern day democracy, we will be labelled terrorists and have our bank accounts frozen if we so much as think of stepping out of line
Started out with nothing. Still have most of it left.
Looks like energy prices are still moving on up.
I know someone with a reasonable income in a nice house that shut off their heating and has blankets around to keep their bills down, although not so much now the spring is here, on top of that I listened to a radio show last week and some small businesses operating with a £10k per month energy bill are looking at £30k in the near future, that cost has to be passed on to the customer.
Looks like 2022 is going to get expensive for us all..
Meanwhile - some are 'swimming' in money.................
"RISHI Sunak is reportedly set to spend up to £13,000 a year heating his new swimming pool The large sum means the Chancellor could be spending up to six-and-a-half times the average energy bill for a family home after the recent price rise, The Mirror reports.
Mr Sunak’s proposal to build a 12-metre by 5-metre swimming pool, gym and tennis court beside his historic North Yorkshire home was approved by Hambleton District Council last year, despite claims the development will harm the setting of the grade II listed property."
My wife has grumbled about the increases, but still has the thermostat set to 22 degrees... it kicks in in the early hours of the morning and then the sun (sometimes) comes out at 6am meaning we wake up in something approaching a pottery kiln. I've turned it down to 20, but in fact this week I've just binned it altogether, not at all necessary.
The kids are taking some reprogramming. Bedroom and bathroom lights are left on constantly (quite often in broad daylight, because opening their blinds is evidently harder than flicking a switch)!
Luckily, they've got much better now that a light or telly left on in an empty room equals one day of no phone/tablet charger to restore the balance in the bill-payers direction. Funny that.
As far as chargers. Eugh. We usually have 4 plugged in 24 hours a day. I'm one step away from installing an exercise bike with a generator fitted. That should solve both heat and energy issues
I've read a lot about phantom energy loss - appliances left on standby, chargers plugged in with nothing charging etc. Switching off sockets can save a third of the energy bill, and apart from the fridge/freezer there's nothing in the house that needs leaving on standby. That astonishes me, why has nobody invented something with a button that just kills the power when you're off out or going to bed?
I use these for several functions around the house:My wife has grumbled about the increases, but still has the thermostat set to 22 degrees... it kicks in in the early hours of the morning and then the sun (sometimes) comes out at 6am meaning we wake up in something approaching a pottery kiln. I've turned it down to 20, but in fact this week I've just binned it altogether, not at all necessary.
The kids are taking some reprogramming. Bedroom and bathroom lights are left on constantly (quite often in broad daylight, because opening their blinds is evidently harder than flicking a switch)!
Luckily, they've got much better now that a light or telly left on in an empty room equals one day of no phone/tablet charger to restore the balance in the bill-payers direction. Funny that.
As far as chargers. Eugh. We usually have 4 plugged in 24 hours a day. I'm one step away from installing an exercise bike with a generator fitted. That should solve both heat and energy issues
I've read a lot about phantom energy loss - appliances left on standby, chargers plugged in with nothing charging etc. Switching off sockets can save a third of the energy bill, and apart from the fridge/freezer there's nothing in the house that needs leaving on standby. That astonishes me, why has nobody invented something with a button that just kills the power when you're off out or going to bed?
Plant watering, garage door motor supply, lighting and usb charging - but can equally be used to cut supplies overnight.
Work well on Wifi from anywhere in the world even via the app on your phone. Also work with Alexa and other stuff.
https://www.amazon.co.uk/Wireless-Av...NsaWNrPXRydWU=
My wife retired last month so we are both pensioners. We have no debt whatsoever, and the energy bill is fixed till next May so insulated for the next twelve months at least. We are comfortable, but still going to look at ways not to waste money, so we will be eating out occasionally and no alcohol three or four days a week. My wife worked in the food retail trade all her life and I know not of any other canny shopper.
Spent £18.73 on electricity for my Tesla to drive 712 miles. Well chuffed with that.
Have made q reql effort not to throw food away. Sad to say our household wasted far too much food and that unforgiveable particularly as we enter a period of likely food shortages.
Since lockdown we have planned the menus for the week and buy accordingly. Not sure that necessarily reduced the bill though, I think it does as we buy hardly any pre-packed meals, but it also means we minimise the waste far better.
This “vampire power” thing has been doing the rounds a bit in the press again recently. For most people with equipment made in the last couple of decades, it’s rubbish, based on old studies and some guesswork and rounding errors.
Various energy saving standards were pushed for computers, consumer electronics and appliances for a while now that have made them much more efficient in both active and standby modes.
If you are concerned - and it’s probably worth some validation if your bills are high - then you can get a cheap power meter plug to fit between suspect loads to see how much they pull, or energy companies have been rolling out in-home displays (IHDs, that combined with a CT clamp or smart meter) can show current power usage for the home. Go around turning stuff off and see the difference in readings.
Anything that generates heat will be your biggest problem by far, and if your insulation/doors/windows can’t keep that heat you’ve paid so much for, it’s money wasted.
From an acquaintance: https://shkspr.mobi/blog/2021/10/no-...andby-devices/
Edited to add: when I say “heat”, if you still have incandescent lightbulbs, they count too: get some LEDs instead. 10% or less to run, lasts for years.
Last edited by threescoops; 5th May 2022 at 00:22.
I've been a fan of low energy light bulbs for a while and, a few months ago, bought half a dozen Philips LED 100W equivalent at about £5 a time. Two have failed already. Unfortunately, got them online so returning them isn't cost-effective. Very annoyed! (100W equivalent seem impossible to come by locally, for some reason.)
News reports saying BOE likely to increase base rate again to manage inflation
Hmmmm I don’t have an economics degree but.
I have to say I really do struggle to see how increasing individuals mortgage and loan repayments helps anyone already under financial pressure which lets be honest is mainly due to huge energy hikes on gas, electricity and pump prices which are things they cannot simply opt out of buying as they aren’t discretionary, and its fuel / transport costs that drive many other inflationary pressures (food)
Surely if you keep reducing peoples disposable income it will also slow down the retail economy particularly the already bludgeoned high street desperately needing to recover after 2 challenging years ?
Certainly feeling it at the back end of luxury goods, even since the Fury fight there’s been a shift and that was the topic of conversation at it
RIAC
I have a HiFi system, TV, Soundbar, Subwoofer, TV lights. All can be switched off from a voice controlled Alexa mains plug instantly, or timer.
Most lights can be controlled too from a Hue light app and detectors.
I’ve had a similar experience. I’ve changed all of our lighting to led since moving into the house nearly 7 years ago. With 6 beds over 3 stories I thought I’d see a drop on energy usage, but can’t say I’ve noticed tbh. A few fittings still have the original led bulbs I fitted 7 years ago but a lot of them have gone pop and been replaced after a couple of years. Not quite what they’re cracked up to be imho! - some that go pop are cheap Amazon basics jobs but some are expensive Philips ones
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In my experience its best to go where the professionals go for LED's. Far superior quality to supermarket / amazon. CEF or even Screwfix is better
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Not really, so far it´s been fairly gentle increases and the Gov. seem to be doing their bit...20 cent´s off a litre..about 74 euro the óther day for a full tank, leccy bill´s not unreasonable either, up a bit but not roaring away. Essentials like Beer and Wine still remain cheaper than chips. The pool is sun heated so no change there. Good luck to all.
Similarly I bought some OSRAM led bulbs and several stopped working or started flashing within a few years. Very disappointing.
I can see interest doubling to 2% + by year end which will bite some and please a few
RIAC
Inflation in March a 30 year high at 7 percent...I can see them hitting double digits before year end, agreed interest rates will 'need' to go higher yet.
Yes interest rates will go up, in fact they should have been pushed up a couple of months ago.
Inflation is a mixed blessing both here and in Spain.
I have had an apartment up for sale for over 2 years. Thanks to covid the housing market went dead and I only had one viewing in the whole time. The buyer could be fussy and screwed the price down on another apartment just down the road and good luck to him.
However the market is picking up fast and we have had 3 viewings in the last month alone. I have told the estate agent, do not entertain any price negotiations whatsoever and I may well push the price up another €20,000 as the prices of new properties are going up as fast here as they are in the UK.
Property owners always do well during periods of high inflation even with high interest rates. For the Spanish property owner, I think the tough times are over.
Chips and Rice as the late Boycie would say when he was appearing in Benidorm.
Last edited by Mick P; 5th May 2022 at 12:02.
Do you think that now it’s harder to mov to Spain that will effect prices or is it a new market of EU Types buying?
RIAC
It's no harder for the Dutch, Belgians, Germans or French to buy in Spain.
According to an estate agent I drink with in Mojacar, last month more Brits bought in Spain than those who sold.
However the Belgians are the rising stars, they are now the biggest buyers.
Spain still is the favourite holiday resort in Europe due to the sun.
Brexit has been a real PITA due to the 90 day rule but for someone like me, the logistics mean two spells of 85 days which is fine. Before we could just come and go as we pleased. This has put plenty of Brits off but to be honest, the market is rising after 15 years of total stagnation.
On the food front, my better half throws nothing out and miraculously can knock up something for a meal. She never fails to surprise me! 😁
Be interested if there's any data to back up what that estate agent told you, was that whole of Spain, by regions...does he have the sales listing on your flat, or was he after it...btw Have you thought of a listing on SC Mick, fairly well to do membership on here I'd imagine...
dont know how we are going to survive , ive had the cancel the standing order for foie gras and we are down to our last case of chateau lafayette , at this rate come winter we are going to have to start burning the servants to keep warm.
If a member of TZ wanted to buy my apartment, I would apply a 10% surcharge for all the bloody insults I have had to endure.
The estate agent was referring to the Mojacar - San Juan de Los Terreros coastal area. He does not have my listing as I keep business and friendship separate.
Pop on another jumper and consider value brands, like cava and prosecco.
Only 10 percent.
Got any pics with any agents online somewhere, we might have a gander at...
Grim news today with inflation hitting 9% and a 40 year high (March was 7%), inflation takes a long time to drop back so this could be impacting us for years, add in interests rates will probably go up to counter inflation and it doesn't look good.
Some hard decisions for many going forward..
Double digit before year's end seems nailed on/ baked in/oven ready, and the worst performer of the G7. I just hope the threat of currency speculators has been overstated.
Last edited by Passenger; 18th May 2022 at 20:27.
I guess its good news if your pension is index linked. But looks gloomy for sure
Last edited by 100thmonkey; 18th May 2022 at 20:39.
RIAC
^ Assuming not capped of course.
To the OP, No.
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