LEAVE the Conservative Party and save your country!

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  • orraloon
    orraloon Posts: 13,230
    See that 29 year old SPaD who gets given a life peerage in recognition of services to the country Spaffer. What was the job she did, hand or blow?
  • ddraver
    ddraver Posts: 26,698
    Not make too much noise about being his daughter I think...
    We're in danger of confusing passion with incompetence
    - @ddraver
  • briantrumpet
    briantrumpet Posts: 20,387
    What was that about 'integrity', Sunak?

    WTF is he so scared of?

    https://www.facebook.com/unanglaisendiois
  • pinno
    pinno Posts: 52,330
    Oops

    https://www.youtube.com/watch?v=dwCZ-KclewY
    seanoconn - gruagach craic!
  • surrey_commuter
    surrey_commuter Posts: 18,867
    briantrumpet said:

    What was that about 'integrity', Sunak?

    WTF is he so scared of?

    Think about the Tory party membeship and I bet it is stuffed full of people like Nadine Dorries who Boris can de-knicker form 100 metres.

    Why annoy them when you can find a good excuse to make yourself scarce?
  • Jezyboy
    Jezyboy Posts: 3,608
    surrey_commuter said:

    briantrumpet said:

    What was that about 'integrity', Sunak?

    WTF is he so scared of?

    Think about the Tory party membeship and I bet it is stuffed full of people like Nadine Dorries who Boris can de-knicker form 100 metres.

    Why annoy them when you can find a good excuse to make yourself scarce?
    Because he needs to have one eye towards an election, and has been presented with an opportunity to really make a statement.
  • Jezyboy
    Jezyboy Posts: 3,608
    So there are various noises about some kind of help being extended to mortgage payments...

    Does this not just go against the intended results of the BoE rate rises?
  • rick_chasey
    rick_chasey Posts: 75,661
    Jezyboy said:

    So there are various noises about some kind of help being extended to mortgage payments...

    Does this not just go against the intended results of the BoE rate rises?

    Yes, entirely.
    _
  • rick_chasey
    rick_chasey Posts: 75,661
    Tacit recognition too that their policy of propping up property prices by restricting supply through lack of NIMBY reform and boosting demand via things like Help-to-Buy has left too many people spending too much on their property.
    _
  • pblakeney
    pblakeney Posts: 27,331
    Jezyboy said:

    So there are various noises about some kind of help being extended to mortgage payments...

    Does this not just go against the intended results of the BoE rate rises?

    Certainly goes against Tory principles.
    This is one of the most socialist governments that I can remember. Otherwise known as populist.
    The above may be fact, or fiction, I may be serious, I may be jesting.
    I am not sure. You have no chance.
    Veronese68 wrote:
    PB is the most sensible person on here.
  • rick_chasey
    rick_chasey Posts: 75,661
    edited June 2023
    It's also a desperate electoral sop because lets' be honest, your average over 50 tory voter is not worrying about the cost of their mortgage. Or if they are, retirement is not going to plan...!
    _
  • First.Aspect
    First.Aspect Posts: 17,181
    rick_chasey said:

    It's also a desperate electoral sop because lets' be honest, your average over 50 tory voter is not worrying about the cost of their mortgage. Or if they are, retirement is not going to plan...!

    You are a simpleton
  • Jezyboy
    Jezyboy Posts: 3,608
    rick_chasey said:

    It's also a desperate electoral sop because lets' be honest, your average over 50 tory voter is not worrying about the cost of their mortgage. Or if they are, retirement is not going to plan...!

    They may well be worried about the market overall though.

    As someone hoping to move to a more expensive part of the country, I think I want a mild cooling of the market...
  • Jezyboy
    Jezyboy Posts: 3,608
    rick_chasey said:

    It's also a desperate electoral sop because lets' be honest, your average over 50 tory voter is not worrying about the cost of their mortgage. Or if they are, retirement is not going to plan...!

    I'm not sure any people will be able to absorb remortgaging from 2% to 6% completely painlessly.

  • focuszing723
    focuszing723 Posts: 8,151
    I kept stressing people shouldn't become comfortable with historically low IR rates and people shouldn't have been sold that version of reality.

    I don't see the difference between that and the QE PPI handout scheme to pump money back into the system.
  • focuszing723
    focuszing723 Posts: 8,151

  • rick_chasey
    rick_chasey Posts: 75,661
    First.Aspect said:

    rick_chasey said:

    It's also a desperate electoral sop because lets' be honest, your average over 50 tory voter is not worrying about the cost of their mortgage. Or if they are, retirement is not going to plan...!

    You are a simpleton
    Well yes that's a given but why in this specific instance?
    _
  • focuszing723
    focuszing723 Posts: 8,151
    pinno said:

    Oops

    https://www.youtube.com/watch?v=dwCZ-KclewY

    It's completely indefensible and should be forgotten given the context at that time.
  • rjsterry
    rjsterry Posts: 29,574
    rick_chasey said:

    It's also a desperate electoral sop because lets' be honest, your average over 50 tory voter is not worrying about the cost of their mortgage. Or if they are, retirement is not going to plan...!

    Did you not see the example in the Telegraph?

    Owner of a startup bought a £7m house in January and now his repayments will jump from ~£9k to £20k per month. He was having to consider pulling the three children out of their schools.




    Can totally relate 🤣
    1985 Mercian King of Mercia - work in progress (Hah! Who am I kidding?)
    Pinnacle Monzonite

    Part of the anti-growth coalition
  • Dorset_Boy
    Dorset_Boy Posts: 7,567
    edited June 2023
    Jezyboy said:

    rick_chasey said:

    It's also a desperate electoral sop because lets' be honest, your average over 50 tory voter is not worrying about the cost of their mortgage. Or if they are, retirement is not going to plan...!

    I'm not sure any people will be able to absorb remortgaging from 2% to 6% completely painlessly.

    When they applied for their mortgage there was (supposedly) an added affordability test - could they still afford the repayments if there was a 3% increase in the interest rate.
    F'wit Bailey did away with that in September last year.

    But I do totally agree with your point, it will not be painless when coupled with everything else (their PCP costs going from 3% to 8%, food inflation etc), but perhaps there needs to be another property market correction. Think the last was 1990-1992.
  • kingstongraham
    kingstongraham Posts: 28,154
    Was a previous Conservative chancellor who said "if it isn't hurting, it isn't working". If interest rate rises are supposed to influence inflation then it can't be painless.
  • TheBigBean
    TheBigBean Posts: 21,921
    In case it is useful, this is an annuity as a percentage of initial 25 year mortgage for different interest rates. So, at 7% payments are slightly less than double those at 1%.

    1.00% 4.54%
    2.00% 5.12%
    3.00% 5.74%
    4.00% 6.40%
    5.00% 7.10%
    6.00% 7.82%
    7.00% 8.58%
    8.00% 9.37%
    9.00% 10.18%
  • Jezyboy
    Jezyboy Posts: 3,608
    Dorset_Boy said:

    Jezyboy said:

    rick_chasey said:

    It's also a desperate electoral sop because lets' be honest, your average over 50 tory voter is not worrying about the cost of their mortgage. Or if they are, retirement is not going to plan...!

    I'm not sure any people will be able to absorb remortgaging from 2% to 6% completely painlessly.

    When they applied for their mortgage there was (supposedly) an added affordability test - could they still afford the repayments if there was a 3% increase in the interest rate.
    F'wit Bailey did away with that in September last year.

    But I do totally agree with your point, it will not be painless when coupled with everything else (their PCP costs going from 3% to 8%, food inflation etc), but perhaps there needs to be another property market correction. Think the last was 1990-1992.
    Sure, and there's different levels of pain. Forgoing a skiing holiday, downsizing to keep your kids in private school, only eating out twice a month aren't likely to elicit a lot of sympathy!

  • First.Aspect
    First.Aspect Posts: 17,181
    rick_chasey said:

    First.Aspect said:

    rick_chasey said:

    It's also a desperate electoral sop because lets' be honest, your average over 50 tory voter is not worrying about the cost of their mortgage. Or if they are, retirement is not going to plan...!

    You are a simpleton
    Well yes that's a given but why in this specific instance?
    No everyone plans their life and career with a fantastic chart like you RC. And you don't know what you don't know, and in your case that's your future.
  • First.Aspect
    First.Aspect Posts: 17,181
    edited June 2023
    focuszing723 said:

    I kept stressing people shouldn't become comfortable with historically low IR rates and people shouldn't have been sold that version of reality.

    I don't see the difference between that and the QE PPI handout scheme to pump money back into the system.

    Only that's exactly what people were being advised. Okay, not thst interest rates would stay at <1%, but that they were unlikely to go up past 2-3%.

    Unless you predicted a confluence of Brexit, a pandemic and a war in Europe, you are just being a smug Captain Hindsight. And we all know how irritating those adverts were.....

    All that said, when I hear people on the radio bleeting about being homeless because their mortgage repayments will be £4k I can only assume that the term, 'homeless' includes having to move to a smaller home. Because anyone who could previously have afforded a £2.5k pm mortgage can still afford a home.
  • rick_chasey
    rick_chasey Posts: 75,661
    First.Aspect said:

    rick_chasey said:

    First.Aspect said:

    rick_chasey said:

    It's also a desperate electoral sop because lets' be honest, your average over 50 tory voter is not worrying about the cost of their mortgage. Or if they are, retirement is not going to plan...!

    You are a simpleton
    Well yes that's a given but why in this specific instance?
    No everyone plans their life and career with a fantastic chart like you RC. And you don't know what you don't know, and in your case that's your future.
    I was under the impression the vast majority of pensioners were without a mortgage.

    Is that wrong?
    _
  • MidlandsGrimpeur2
    MidlandsGrimpeur2 Posts: 2,115
    There will be people who have a far better understanding of economics, and housing/mortgages than I do, but surely the low interest rates we have had for a number of years has always had the potential to end up in the impending crisis people are now facing?

    It seems low interest rates have also encouraged people to buy houses beyond their means, and also perhaps accounts for a lot of the inflated prices we have seen in the housing market as people have overpaid in order to secure a property, and benefitted from low mortgage repayments.

    I have also been staggered by the price increases on many properties I have viewed over the last 12 months. Houses going on the market that the current owners purchased within the last three years going up anywhere from 45-65% is pretty standard. The whole market has been unsustainable for some time surely?

  • photonic69
    photonic69 Posts: 2,809
    Tory Party Party - it gets worse!

    https://www.bbc.co.uk/news/uk-politics-65952298


    Sometimes. Maybe. Possibly.

  • Jezyboy
    Jezyboy Posts: 3,608
    MidlandsGrimpeur2 said:

    There will be people who have a far better understanding of economics, and housing/mortgages than I do, but surely the low interest rates we have had for a number of years has always had the potential to end up in the impending crisis people are now facing?

    It seems low interest rates have also encouraged people to buy houses beyond their means, and also perhaps accounts for a lot of the inflated prices we have seen in the housing market as people have overpaid in order to secure a property, and benefitted from low mortgage repayments.

    I have also been staggered by the price increases on many properties I have viewed over the last 12 months. Houses going on the market that the current owners purchased within the last three years going up anywhere from 45-65% is pretty standard. The whole market has been unsustainable for some time surely?

    On the final point, assuming your username isn't just for fun, parts of the Midlands seem to have seen some shocking rises since COVID, that don't seem to (quite) be reflected further south. I blame this on WfH encouraging people to live further out than they previously would.

  • kingstongraham
    kingstongraham Posts: 28,154
    photonic69 said:

    Tory Party Party - it gets worse!

    https://www.bbc.co.uk/news/uk-politics-65952298

    Doesn't it depend when that was sent out whether it's an issue or not? The regulations were changing all the time then. Obviously the party happening was a disgrace.

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