news & politics:discussion

[Neil]

13 hours ago, Neil said:

More affordable housing is lower quality hpusing and lower wages for builders. 

It does unless you think you can buck the market tory pound crashing style. 

[Neil]

just seen sturgeon complaining that the uk is taking renewable power from Scotland, when the uk paid for those renewable facilities(she 'forgot' that part),.

[Neil]

shes just claimed "we have a child payment in Scotland which no one else has", is she sending child benefit back to westminster?

[steviewevie]

Sturgeon for president.

[fraybentos1]

19 hours ago, Barry Fish said:

 I don't think you really get the realities of house ownership. 

For every generation before mine, the reality of home ownership was buying a house for an alright price, living in it, watch it balloon up to an astronomical price due to nothing more than luck.

 

19 hours ago, Barry Fish said:

its going to be awful for the entire economy.

So it long term inflation. It’s the only thing they can do to get it under control. They will have to follow the US 

 

19 hours ago, Barry Fish said:

Will make a bet you won't be a house owner in the next 5 years if you are not already. 

I will be, I’m fairly sure of it 

 

19 hours ago, Barry Fish said:

actually think house prices won't nesscary drop anyway as supply drives price mostly

They already are. They’re also already dropping in Australia and NZ, USA. Also supply isn’t the main issue. The reason prices have risen so much is access to cheap money

[Guest]

Looks like Starmer supports workers rights to strike. 

[hodgey123]

This may be a bit of a stupid question, but if interest rates by the BoE are set at say 2% over the coming weeks, why does that then mean that banks offer mortgages with rates of say 6%? To keep their profit margin?

[steviewevie]

Braverman wants to make cannabis a class A drug.

She is so stupid.

[steviewevie]

2 minutes ago, hodgey123 said:

This may be a bit of a stupid question, but if interest rates by the BoE are set at say 2% over the coming weeks, why does that then mean that banks offer mortgages with rates of say 6%? To keep their profit margin?

Aren't they forecast to get close to 6% next year? Maybe that's it.

[Crazyfool01]

5 minutes ago, steviewevie said:

Braverman wants to make cannabis a class A drug.

She is so stupid.

Police and courts can’t cope as it is … meanwhile Biden has gone the opposite way 

[Guest]

5 minutes ago, hodgey123 said:

This may be a bit of a stupid question, but if interest rates by the BoE are set at say 2% over the coming weeks, why does that then mean that banks offer mortgages with rates of say 6%? To keep their profit margin?

It’s essentially a way of protecting themselves in the event that the loan won’t be repaid and also to maximise profits.

[fraybentos1]

42 minutes ago, hodgey123 said:

This may be a bit of a stupid question, but if interest rates by the BoE are set at say 2% over the coming weeks, why does that then mean that banks offer mortgages with rates of say 6%? To keep their profit margin?

Cause they expect them to go higher soon and the lifetime of the mortgage is minimum 2 years so they wouldn't want to be making a loss.

[clarkete]

4 hours ago, hodgey123 said:

This may be a bit of a stupid question, but if interest rates by the BoE are set at say 2% over the coming weeks, why does that then mean that banks offer mortgages with rates of say 6%? To keep their profit margin?

They're fixed rates aren't they and the pound took a tumble, hence they want to ensure they make dosh, but with less risk (indeed in the current market they won't offer anything to riskier buyers)

https://www.bbc.co.uk/news/business-63119047

[steviewevie]

apparently Truss is going to keep benefits in line with inflation after all.

[Guest]

Another u turn. 

[steviewevie]

6 minutes ago, Ozanne said:

Another u turn. 

yes, looks like it...although was it ever official policy?

[Guest]

1 hour ago, steviewevie said:

yes, looks like it...although was it ever official policy?

I’m not sure. It looks like it was Truss’ position though. 

[Guest]

Labour policies. 

[steviewevie]

8 hours ago, Ozanne said:

Labour policies. 

if they get in they likely won't have any money to do jack shit.

[steviewevie]

Russia are bombing Kyiv (and other cities).

[Neil]

16 hours ago, hodgey123 said:

This may be a bit of a stupid question, but if interest rates by the BoE are set at say 2% over the coming weeks, why does that then mean that banks offer mortgages with rates of say 6%? To keep their profit margin?

Yeah you're right the banks profit is the gap between the price they borrow at and the price they lend at. 

Edited October 10, 2022 by Neil

[Guest]

1 hour ago, steviewevie said:

if they get in they likely won't have any money to do jack shit.

They will, all their policies are/will be fully costed. 

[Neil]

9 minutes ago, Ozanne said:

They will, all their policies are/will be fully costed. 

numbers written on paper is 'costed', that doesnt mean the money is really available.

[Guest]

6 minutes ago, Neil said:

numbers written on paper is 'costed', that doesnt mean the money is really available.

Yes it does and yes the money is available. 

[Neil]

6 minutes ago, Ozanne said:

Yes it does and yes the money is available. 

you've never heard that accounts can be fiddled?

you need to expand your knowledge before commenting.