I'm hoping to get a mortgage in 2024, as we should have saved 25-30% by then, but this news is scaring the life out of me, more so will I havee to go to 50%,which will set us back years.
Already priced out of London and most of the south, Gloucester or Worcester were the areas we had picked out, I will be watching t goings on very closely over the next year but becoming really fearful that things are going to get worse. Already worried that despite having 2 kids we might have to settle for a 2 bed as it is.
Trying times.
It’s in your favour if house prices do drop. Keep saving and aim higher when you do start looking
Did anyone else on here buy saga shares when they were floated a few years back,looks like they are on the brink,and our hard earned money has been lost.
I dipped in and out in late 2020/early 2021 as thought they were cheap at around £1.40 which at the time proved right as sold for a reasonable profit.
They are now just under £1 predominantly driven by their insurance arm. I don't know what you paid, but I don't see them coming back massively anytime soon, it's a bit of a failed business really and were impacted a lot by COVID.
I wouldn't be surprised to see them sell of their insurance division and stick to Holidays. I don't think they are about to go bust, and not sure what they floated at, but I wouldn't expect much of a return if you paid more than £2 anytime soon.
I paid 1.85 that is the before consolidation price so reckon around £20.00 plus.Just got all the brochures trough the door,had a bit of spare cash and dived in,I am certain thousands of us oldies have had their fingers well and truly burned,luckily i asked for more but it was over subscribed.
BoE to buy bonds. FTSE100 running back turbo on the news. £ getting ready to take another nose dive
Umm...still below 7,000...
not for much longer
Well, I've had lunch and the graph is pointing back downwards again...
But you got the sterling prediction right at least. Below 1.06 again. Thankfully I managed to move some cash earlier in the week to the safe haven known as the Czech koruna. What a time to be alive
My 7 year fixed term mortgage runs out in December. 1.99 per cent. Luckily Santander got in touch in July offering a switch to a new product and I accepted in early September. 3.5 per cent for three years. We should be able to pay it off when this one runs out.
I am just shy of my 3rd decade on this earth, and I am just curious to hear the opinions of those in this thread who might have a longer memory - Is this the worst economic impact by a government in post-war history?
The 2007/8 financial crash was largely down to the world economy crashing than Blair+Brown cocking it up from what I understand and I'm not sure if Major is generally accepted to be at fault for Black Wednesday in 1992? Or were Thatcher, Wilson and Heath's situations more dire than the current?
I might be being dramatic as it all seems pretty damn dire right now, but just curious on others views on the question.
Might be more of a question for the House of Commoners...
BoE to buy bonds. FTSE100 running back turbo on the news. £ getting ready to take another nose dive
Umm...still below 7,000...
not for much longer
Well, I've had lunch and the graph is pointing back downwards again...
But you got the sterling prediction right at least. Below 1.06 again. Thankfully I managed to move some cash earlier in the week to the safe haven known as the Czech koruna. What a time to be alive
I am just shy of my 3rd decade on this earth, and I am just curious to hear the opinions of those in this thread who might have a longer memory - Is this the worst economic impact by a government in post-war history?
The 2007/8 financial crash was largely down to the world economy crashing than Blair+Brown cocking it up from what I understand and I'm not sure if Major is generally accepted to be at fault for Black Wednesday in 1992? Or were Thatcher, Wilson and Heath's situations more dire than the current?
I might be being dramatic as it all seems pretty damn dire right now, but just curious on others views on the question.
Might be more of a question for the House of Commoners...
Black Wednesday in 1992 was interesting and forced the government into a u-turn - so the impact was short lived. This may well be the same if Truss and Kwarteng swivel but they may well try to ride it out. In reality a u-turn from them now would be 'unspinnable'.
I am just shy of my 3rd decade on this earth, and I am just curious to hear the opinions of those in this thread who might have a longer memory - Is this the worst economic impact by a government in post-war history?
The 2007/8 financial crash was largely down to the world economy crashing than Blair+Brown cocking it up from what I understand and I'm not sure if Major is generally accepted to be at fault for Black Wednesday in 1992? Or were Thatcher, Wilson and Heath's situations more dire than the current?
I might be being dramatic as it all seems pretty damn dire right now, but just curious on others views on the question.
Might be more of a question for the House of Commoners...
Worse reaction to a Budget I've ever seen, and I'm in my mid 50's. The only other one to have an effect of sorts (but not immediately) was Nigel Lawson in 1988. A big tax giveaway but with the scrapping of MIRAS (akin to tax relief on your mortgage payments) which led to the late 80's housing boom as people were desperate to secure a mortgage before the benefit was axed (again, akin to the suspension of Stamp Duty during the pandemic).
It seems the markets get scared BEFORE a Labour Budget but then get spooked AFTER a Tory one.
BoE to buy bonds. FTSE100 running back turbo on the news. £ getting ready to take another nose dive
Umm...still below 7,000...
not for much longer
Well, I've had lunch and the graph is pointing back downwards again...
But you got the sterling prediction right at least. Below 1.06 again. Thankfully I managed to move some cash earlier in the week to the safe haven known as the Czech koruna. What a time to be alive
Had it confirmed this morning that I've finally Exchanged on my house sale, with completion set for next week.
This was the property I bought after my divorce but had to rent it out 3 years ago when the kids came to live with me after falling out with their mum. A 2 up/2 down terrace house wasn't big enough for me & 3 teenagers full time.
We should have exchanged last Friday but was delayed for some reason (Solicitors mainly) but I've been fearful the FTB'ers were going to pull out due to the ridiculous figures being bandied about on the news since the weekend. But it seems (and confirmed by the Estate Agent) that any buyers already in a chain are now feverously trying to complete asap as they have mortgage offers from the summer & wouldn't get anything like the interest rate they secured a few months ago.
Now for me I might have actually got lucky for once as we are currently in rented & not looking to buy anything for at least another year, when the youngest will either stay on at school or go to College and the middle one goes to Uni - which will determine where I buy & how many bedrooms I'll need. I never want to bring bad on people but a property "correction" that means I can buy something in 12-24 months time a bit cheaper than now would be very nice, especially as I've been through 2 periods of negative equity in my time and might at least have the market work in my favour for once.
BoE to buy bonds. FTSE100 running back turbo on the news. £ getting ready to take another nose dive
Umm...still below 7,000...
not for much longer
Well, I've had lunch and the graph is pointing back downwards again...
But you got the sterling prediction right at least. Below 1.06 again. Thankfully I managed to move some cash earlier in the week to the safe haven known as the Czech koruna. What a time to be alive
The BoE has put a floor under GILTs, which has propped up anything riskier. I think we should see a bounce now through to next week's FOMC meeting. This bear market still has a long tome to run though.
BoE to buy bonds. FTSE100 running back turbo on the news. £ getting ready to take another nose dive
Umm...still below 7,000...
not for much longer
Well, I've had lunch and the graph is pointing back downwards again...
But you got the sterling prediction right at least. Below 1.06 again. Thankfully I managed to move some cash earlier in the week to the safe haven known as the Czech koruna. What a time to be alive
About to poke it's head above 7000...
floating around the 6990-7000 level.
now above 7000.
7005. A full 0.03% up on the day. Uncork the Krug!
But don't jump up and down on that "floor". It still has two more days of KamiKwasi to endure before the weekend
BoE to buy bonds. FTSE100 running back turbo on the news. £ getting ready to take another nose dive
Umm...still below 7,000...
not for much longer
Well, I've had lunch and the graph is pointing back downwards again...
But you got the sterling prediction right at least. Below 1.06 again. Thankfully I managed to move some cash earlier in the week to the safe haven known as the Czech koruna. What a time to be alive
About to poke it's head above 7000...
floating around the 6990-7000 level.
now above 7000.
7005. A full 0.03% up on the day. Uncork the Krug!
I'm not really up on parliamentary procedure but I believe a full budget needs parliamentary approval. Does this last debacle also need to be approved? Of course, Parliament is recess at the moment so what happens? It would be interesting to know how the Sunak supporting Conservatives would vote.
BoE to buy bonds. FTSE100 running back turbo on the news. £ getting ready to take another nose dive
Umm...still below 7,000...
not for much longer
Well, I've had lunch and the graph is pointing back downwards again...
But you got the sterling prediction right at least. Below 1.06 again. Thankfully I managed to move some cash earlier in the week to the safe haven known as the Czech koruna. What a time to be alive
About to poke it's head above 7000...
floating around the 6990-7000 level.
now above 7000.
7005. A full 0.03% up on the day. Uncork the Krug!
But don't jump up and down on that "floor". It still has two more days of KamiKwasi to endure before the weekend
And a 2% swing in price over the day. Momentum is back with the bulls for the next few days.
BoE to buy bonds. FTSE100 running back turbo on the news. £ getting ready to take another nose dive
Umm...still below 7,000...
not for much longer
Well, I've had lunch and the graph is pointing back downwards again...
But you got the sterling prediction right at least. Below 1.06 again. Thankfully I managed to move some cash earlier in the week to the safe haven known as the Czech koruna. What a time to be alive
About to poke it's head above 7000...
floating around the 6990-7000 level.
now above 7000.
7005. A full 0.03% up on the day. Uncork the Krug!
But don't jump up and down on that "floor". It still has two more days of KamiKwasi to endure before the weekend
And a 2% swing in price over the day. Momentum is back with the bulls for the next few days.
Most of my investments are in funds (within an Isa) so I'm just seeing mini yo-yo's really over the past year. Daily and weekly pricing do not really mean that much to me as it indices panic.
Had it confirmed this morning that I've finally Exchanged on my house sale, with completion set for next week.
This was the property I bought after my divorce but had to rent it out 3 years ago when the kids came to live with me after falling out with their mum. A 2 up/2 down terrace house wasn't big enough for me & 3 teenagers full time.
We should have exchanged last Friday but was delayed for some reason (Solicitors mainly) but I've been fearful the FTB'ers were going to pull out due to the ridiculous figures being bandied about on the news since the weekend. But it seems (and confirmed by the Estate Agent) that any buyers already in a chain are now feverously trying to complete asap as they have mortgage offers from the summer & wouldn't get anything like the interest rate they secured a few months ago.
Now for me I might have actually got lucky for once as we are currently in rented & not looking to buy anything for at least another year, when the youngest will either stay on at school or go to College and the middle one goes to Uni - which will determine where I buy & how many bedrooms I'll need. I never want to bring bad on people but a property "correction" that means I can buy something in 12-24 months time a bit cheaper than now would be very nice, especially as I've been through 2 periods of negative equity in my time and might at least have the market work in my favour for once.
Whereas I hope that the worst it does is stagnate for a while. When we move we need to downsize and raise funds to see us through old age especially with the hit my pension funds have taken the last week or two.
Comments
But you got the sterling prediction right at least. Below 1.06 again. Thankfully I managed to move some cash earlier in the week to the safe haven known as the Czech koruna. What a time to be alive
The 2007/8 financial crash was largely down to the world economy crashing than Blair+Brown cocking it up from what I understand and I'm not sure if Major is generally accepted to be at fault for Black Wednesday in 1992? Or were Thatcher, Wilson and Heath's situations more dire than the current?
I might be being dramatic as it all seems pretty damn dire right now, but just curious on others views on the question.
Might be more of a question for the House of Commoners...
It seems the markets get scared BEFORE a Labour Budget but then get spooked AFTER a Tory one.
This was the property I bought after my divorce but had to rent it out 3 years ago when the kids came to live with me after falling out with their mum. A 2 up/2 down terrace house wasn't big enough for me & 3 teenagers full time.
We should have exchanged last Friday but was delayed for some reason (Solicitors mainly) but I've been fearful the FTB'ers were going to pull out due to the ridiculous figures being bandied about on the news since the weekend. But it seems (and confirmed by the Estate Agent) that any buyers already in a chain are now feverously trying to complete asap as they have mortgage offers from the summer & wouldn't get anything like the interest rate they secured a few months ago.
Now for me I might have actually got lucky for once as we are currently in rented & not looking to buy anything for at least another year, when the youngest will either stay on at school or go to College and the middle one goes to Uni - which will determine where I buy & how many bedrooms I'll need. I never want to bring bad on people but a property "correction" that means I can buy something in 12-24 months time a bit cheaper than now would be very nice, especially as I've been through 2 periods of negative equity in my time and might at least have the market work in my favour for once.
But don't jump up and down on that "floor". It still has two more days of KamiKwasi to endure before the weekend
I've got some Pomagne somewhere - any good?
What do you invest in @kentaddick?