tzijlstra Posted June 16, 2016 Share Posted June 16, 2016 Nobody loses a house simply because interest rates rise (and there's no certitude that they will rise, either). In fact, a fall in house prices (one of the doom-mongers' forecasts) might be a good idea. Sorry Jeffrey, but you are aware that the average Brit is in debt well over 100% of their annual income? This nation thrives on credit and anything to upset the apple-cart that impacts on that is surely a bad idea, wouldn't you agree? Link to comment Share on other sites More sharing options...
Jeffrey Shaw Posted June 16, 2016 Share Posted June 16, 2016 Sorry Jeffrey, but you are aware that the average Brit is in debt well over 100% of their annual income? This nation thrives on credit and anything to upset the apple-cart that impacts on that is surely a bad idea, wouldn't you agree? Borrowing more than one year's income is commonplace- that's precisely how mortgage advances are made. As long as the income suffices to make all payments when due, there's no problem. Yes, I'd certainly agree that over-borrowing is a bad idea. But back on the thread's topic... Link to comment Share on other sites More sharing options...
Shef1985 Posted June 16, 2016 Share Posted June 16, 2016 Borrowing more than one year's income is commonplace- that's precisely how mortgage advances are made. As long as the income suffices to make all payments when due, there's no problem. Yes, I'd certainly agree that over-borrowing is a bad idea. But back on the thread's topic... The topic of this thread is the EU. Leaving the EU could raise interests rates increasing mortgage payments and create job losses. The house prices might also come down leaving the jobless no income and in negative equity. We are very much on topic. Link to comment Share on other sites More sharing options...
Jeffrey Shaw Posted June 16, 2016 Share Posted June 16, 2016 The topic of this thread is the EU. Leaving the EU could raise interests rates increasing mortgage payments and create job losses. The house prices might also come down leaving the jobless no income and in negative equity. We are very much on topic. Your interpretation embraces just about everything in the world even remotely associated with the EU (and not how people will vote)! Link to comment Share on other sites More sharing options...
foxy lady Posted June 16, 2016 Share Posted June 16, 2016 The topic of this thread is the EU. Leaving the EU could raise interests rates increasing mortgage payments and create job losses. The house prices might also come down leaving the jobless no income and in negative equity. We are very much on topic. Leaving the EU could bring down interests rates reduce mortgage payments and create jos. The house prices might also come down allowing young folk who got jobs because of Latvians going home to actually get on the housing ladder. We are very much on topic. Link to comment Share on other sites More sharing options...
Shef1985 Posted June 16, 2016 Share Posted June 16, 2016 Leaving the EU could bring down interests rates reduce mortgage payments and create jos. The house prices might also come down allowing young folk who got jobs because of Latvians going home to actually get on the housing ladder. We are very much on topic. Really? Are they the predictions being made though? You say 'folk' a lot. It's very annoying. ---------- Post added 16-06-2016 at 17:50 ---------- Your interpretation embraces just about everything in the world even remotely associated with the EU (and not how people will vote)! Ha, yes I know why a lot of people will vote. Link to comment Share on other sites More sharing options...
chalga Posted June 16, 2016 Share Posted June 16, 2016 Leaving the EU could bring down interests rates reduce mortgage payments and create jos. The house prices might also come down allowing young folk who got jobs because of Latvians going home to actually get on the housing ladder. We are very much on topic. I would love to see the young folk of the UK uprooting themselves to live a few hundred miles away from their homes to work in the chicken processing factories in Deepest Nowhere,saving money while they are doing it to get on the housing ladder.......more power to their elbows and look forward to them taking up the slack from the Latvians. Link to comment Share on other sites More sharing options...
tzijlstra Posted June 16, 2016 Share Posted June 16, 2016 Borrowing more than one year's income is commonplace- that's precisely how mortgage advances are made. As long as the income suffices to make all payments when due, there's no problem. Yes, I'd certainly agree that over-borrowing is a bad idea. But back on the thread's topic... That figure I mentioned is per person living in Britain. Sorry, not quite clear I concur. Average household debt, including mortgage is well over 58000 according to The Money Charity. The Guardian last year reported that on average every Brit has a debt (personal loans, credit cards, overdrafts) of over 10000 pounds. That is including children, pensioners, the whole lot. These are scary figures (to me anyway, I avoid debt like the plague) once you realise that most of that debt is on the shoulders of the employed people in Britain. So, to align that to the thread topic - upsetting the fragile economic state of the UK, where most economists agree the recovery was largely funded due to an increase in borrowing across the board, is a bad idea. Just the concept of the referendum is having an impact and, as you will probably know, the more it looked like Brexit was a likely outcome, the more the markets started to sell. That is here and in Europe and in the world, a Brexit creates uncertainty in all financial matters, uncertainty makes traders adjust their assessment, radically adjusted assessments lead to financial crises. So whilst the Brexit camp is happily promising the world post-Brexit, the reality is that Britain will be hit by that uncertainty, no matter George Osbourne, it is a simple deduction that holds water in every macro and meso economic analysis. Which brings me to a point I thought of earlier today - Osbourne has gone awry by bleating about exact figures (£4300 / household! 30 billion more austerity!) what he should have done was talk about the degree of certainty. If we analyse the degree of certainty that an economic impact will result from a Brexit vote it is undeniable that in almost every scenario the UK and global economy will suffer on Brexit. Link to comment Share on other sites More sharing options...
Penistone999 Posted June 16, 2016 Share Posted June 16, 2016 And I'd rather go with experts Than bunch xenophobic old men innit Whats Xenophobic about wanting to stop uncontrolled immigration from the EU ? Link to comment Share on other sites More sharing options...
Jeffrey Shaw Posted June 16, 2016 Share Posted June 16, 2016 Ha, yes I know why a lot of people will vote. Yes- because it's democratic and socially responsible. But as to for which side they'll vote (or, if postally, "have voted"), we'll know that only in just over a week's time. Link to comment Share on other sites More sharing options...
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