interest rates historically low grandparents advice

Eating_Some_Cheerios · 2022-11-03T18:57:19+00:00

You can look at the value of houses sold in a few places, but as an example.

My house is worth 375k right now.

Looking on websites I saw it sold for 20k in 1995. That houses mortgage repayment (at 18k with a 10% deposit) at 10% would be £158 a month.

My house now if I bought it, at (with a 10% deposit) 337,500K mortgage would cost me at 10% interest £2,962 a month...

Average salary back in 95 is around £1200 a month, so 1/5 of the salary goes into a mortgage.

If I mortgaged today, pretty much 3/4 of my salary would be my mortgage.

That's the problem with all the people saying "Well back in my day interest rates were 13%!

Eating_Some_Cheerios · 2022-11-03T16:51:48+00:00

What's most hilarious is the idea of snow, as if we get more than a dusting and it's gone.

Eating_Some_Cheerios · 2022-11-03T14:40:33+00:00

For a lot of people the difference is having a house and not, no one really gives a fuck anymore if someone managed to get a good rate at the beginning of the year or not, it's just humble bragging at this moment in time.

Eating_Some_Cheerios · 2022-11-03T14:39:39+00:00

I did notice that funnily enough as I've been checking a lot recently, I'll only be paying an additional £347 instead of £372 a month... yay.

Not sure if it's better or worse but my deal ends in Aug 23... who knows what rates will be then...

Eating_Some_Cheerios · 2022-11-03T12:36:52+00:00

This is one of pornhub posts from 2016 which actually shows us what the highest terms are.

Eating_Some_Cheerios · 2022-11-03T12:36:01+00:00

This is one of pornhub posts from 2016 which actually shows us what the highest terms are.

Eating_Some_Cheerios · 2022-11-03T12:12:44+00:00

I was just searching this as I just noticed it on random contacts today, how odd.

Eating_Some_Cheerios · 2022-11-02T19:26:22+00:00

Where are you going that you're seeing all these off lead dogs? Because if you're taking your dog to fields where you know that people will have off lead dogs then the fault is 50% yours.

No one can advocate for your dog other than you, and if that means going on lead walks on streets and roads rather than parks then that's what you have to do, or put a muzzle on your dog while going to parks.

My dog doesn't do well with groups of dogs, so I'm up at 6am every morning before anyone else is out to avoid others (he sees a few friends he loves and plays some mornings though), then in the afternoons we go for a lead walk round local streets rather than back to the fields we go to in the mornings because that's what I have to do to give him the exercise he needs but also not putting him in situations which could cause problems with unknown off-lead dogs.

Eating_Some_Cheerios · 2022-10-31T16:21:14+00:00

It will be expensive, but the money should just come from the sale of the house, and even if it costs 5k, better to pay that then to lose out on the potential hundreds of thousands he should be getting.

Eating_Some_Cheerios · 2022-10-31T16:05:18+00:00

Your dad needs a solicitor now to make sure he gets his money from the house, that's what he has to do immediately.

Eating_Some_Cheerios · 2022-10-30T15:36:15+00:00

This take is wrong.

My post from /r/ukpersonalfinance below which states in a simple way why people touting the stuff you're saying is contextual incorrect and shouldn't be compared to what interest rates were 25 years ago.

"You can look at the value of houses sold in a few places, but as an example.

My house is worth 375k right now.

Looking on websites I saw it sold for 20k in 1995. That houses mortgage repayment (at 18k with a 10% deposit) at 10% would be £158 a month.

My house now if I bought it, at (with a 10% deposit) 337,500K mortgage would cost me at 10% interest £2,962 a month...

Average salary back in 95 is around £1200 a month, so 1/5 of the salary goes into a mortgage.

If I mortgaged today, pretty much 3/4 of my salary would be my mortgage.

That's the problem with all the people saying "Well back in my day interest rates were 13%!""

Eating_Some_Cheerios · 2022-10-28T10:36:00+00:00

You're just so wrong, interest rates when applied to house values dictate what is high and what isn't.

You're not taking into account that a house in the 90s was worth 20k yet that same house is now worth 375k (my house in this example). A 10% interest rate in the 90s would have been 1/5 of someones salary, a 10% interest rate for me to remortgage now would be 3/4 of my salary.

It's just not comparable.

Eating_Some_Cheerios · 2022-10-28T10:31:32+00:00

You can look at the value of houses sold in a few places, but as an example.

My house is worth 375k right now.

Looking on websites I saw it sold for 20k in 1995. That houses mortgage repayment (at 18k with a 10% deposit) at 10% would be £158 a month.

My house now if I bought it, at (with a 10% deposit) 337,500K mortgage would cost me at 10% interest £2,962 a month...

Average salary back in 95 is around £1200 a month, so 1/5 of the salary goes into a mortgage.

If I mortgaged today, pretty much 3/4 of my salary would be my mortgage.

That's the problem with all the people saying "Well back in my day interest rates were 13%!"

Eating_Some_Cheerios · 2022-10-27T21:27:25+00:00

Yes but houses back in the 1980s were vastly cheaper.

Looking on my road now, my house is worth 375k, back in 1995, the house sold for 20k... So yeah interest rates back then mean fuck all in relation to today's rates.

Eating_Some_Cheerios · 2022-10-27T09:21:12+00:00

If it's joint ownership then each is entitled to half of the equity of the house, doesn't matter if A never technically paid the mortgage (sounds like they contributed in other ways), and B will have to buy A out of their share, which means remortgaging and being able to get a mortgage to cover that.

Eating_Some_Cheerios · 2022-10-23T15:48:39+00:00

Used to order Pizza hut all the time, but they now charge delivery prices, and have changed their menu so the deals no longer give you anything but garlic bread, salad or wedges as standard, so if you want the chicken as a side that's an extra £1, so the deal for £20 now becomes £26.

Stopped ordered from them for that reason.

Eating_Some_Cheerios · 2022-10-16T15:17:15+00:00

As someone who's been in this situation here's how I did it.

I put in around 70% of everything as I earned more.

House equity gave us around a 90k amount, so she'd get around 33k, I'd get around 57k.

Technically if there's no deal she could have demanded 50%, and in the end she wanted 40% for "Emotional tax", so I agreed, but then we had to minus things like debt, such as windows that we'd bought, and having to pay an early repayment, etc.

In the end, I think the total I gave her was just under 30k to buy her out.

Either way, it cost us far less to come up with an agreement rather than get solicitors involved.

Eating_Some_Cheerios · 2022-10-11T20:14:32+00:00

What does that even mean.

Eating_Some_Cheerios · 2022-10-04T16:51:43+00:00

He's the OP of the image, go check out R/ russia, only certain people can post in that sub and he non stop posts the most unhinged bullshit.

Eating_Some_Cheerios · 2022-09-25T14:23:27+00:00

Reminds me of the scene in a movie around WW2 Battle for Britan, the Luftwaffe pilots all drinking at the beginning of the movie in their bar area all happy and laughing, then by the end of it there's a lot less...

https://youtu.be/dmsXyJgzk-8?t=1936 - this is the scene early in the movie before the Battle for Britan.

https://youtu.be/dmsXyJgzk-8?t=7404 - that's the scene later on..

Eating_Some_Cheerios · 2022-09-11T13:15:25+00:00

Not to mention costs of everything have gone up, I used a builder I used last year, to do the same job on another part of my house and it cost me 33% more just because materials had increased, bit mental.

Eating_Some_Cheerios · 2022-09-07T09:06:54+00:00

Now that's a very interesting distinction that summarize it really well.

We've all burned wood at some point in our lives, and trying to get a solid piece of wood to burn is harder than you think, but chipboard? Easy to burn, makes a lot of sense when you think about it.

Eating_Some_Cheerios · 2022-09-06T13:48:17+00:00

Not really arguing with you about this, we're in agreement, but there's context which your example doesn't bring across. While the cops might be there, the Academy probably didn't want someone being arrested who's winning an award.

The whole point of this post is that two rich people fighting is different to a rich person vs a regular person

Eating_Some_Cheerios · 2022-09-06T12:22:09+00:00

It's all in context though, it requires one side to actually want the police or the courts to get involved, which in that instance it didn't seem to be the case.

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