mortgages - important word of advice possibly

[netzerkaiser]

I fixed mortgage today, 5 year deal, little above, in fact below, current variable rate I was on.

Theres 33% chance with current printing of invisible money goin' on that there may be rampant inflation over next 3 years. So guys - it may be worth exploring the option now, if it applies to you.

[netzerkaiser]

I fixed mortgage today, 5 year deal, little above, in fact below, current variable rate I was on.

Theres 33% chance with current printing of invisible money goin' on that there may be rampant inflation over next 3 years. So guys - it may be worth exploring the option now, if it applies to you.

I'm no money man, just goin' by vibes, but would appreciate an opinion. The evidence grows daily that mega shitstorm on the way.

[gc0220]

So many charlatans said the same sort nonsense in 2008, but you can't expect a porn forum to be populated with the most intelligent or educated people on the planet.

Now let's think about something logically here for a moment. If you have some large debts, would it better or worse for you to pay those debts with a currency that is worth less in the future than when you accrued said debts?


Just remember, people like OP vote.

[netzerkaiser]

So many charlatans said the same sort nonsense in 2008, but you can't expect a porn forum to be populated with the most intelligent or educated people on the planet.

Now let's think about something logically here for a moment. If you have some large debts, would it better or worse for you to pay those debts with a currency that is worth less in the future than when you accrued said debts?


Just remember, people like OP vote.

I get your point, but I was referring to interest rates.

[netzerkaiser]

So many charlatans said the same sort nonsense in 2008, but you can't expect a porn forum to be populated with the most intelligent or educated people on the planet.

Now let's think about something logically here for a moment. If you have some large debts, would it better or worse for you to pay those debts with a currency that is worth less in the future than when you accrued said debts?


Just remember, people like OP vote.

I get your point, but I was referring to interest rates.

I don't mind being called thick either - its a badge of honour, particularly when the people I'm supposed to vote for are kind of thicker again!

https://www.youtube.com/watch?v=ZwTHVZHqSb0

[drevokocur66]

I fixed mortgage today, 5 year deal, little above, in fact below, current variable rate I was on.

Theres 33% chance with current printing of invisible money goin' on that there may be rampant inflation over next 3 years. So guys - it may be worth exploring the option now, if it applies to you.

I'm no money man, just goin' by vibes, but would appreciate an opinion. The evidence grows daily that mega shitstorm on the way.

Almost a year of many people not working, was the clue? Not to mention the evaporation of many jobs.

[gc0220]

What about interest rates? Are you suggesting that they have nowhere to go but up? Are you suggesting that sudden spike of inflation will force a spike in interest rates similar to the 1970's stagflation? At the extreme, some kind of repeat of Volker situation? Well, hopefully you locked in your lower rates and hopefully, with all the supposed inflation that is coming, you will fully pay off your mortgage by the time this happens.

[netzerkaiser]

I fixed mortgage today, 5 year deal, little above, in fact below, current variable rate I was on.

Theres 33% chance with current printing of invisible money goin' on that there may be rampant inflation over next 3 years. So guys - it may be worth exploring the option now, if it applies to you.

I'm no money man, just goin' by vibes, but would appreciate an opinion. The evidence grows daily that mega shitstorm on the way.

Almost a year of many people not working, was the clue? Not to mention the evaporation of many jobs.

Thanks. We are in unchartered territory. By fixing mortgage I stay same pretty much the same, I can budget my savings at least. If I stayed varible & rates went down I'd save 100 pounds maximum. If rates go up it could be 400 pounds extra even on 4% hike. Was just trying to be helpful. Maybe if even one person took on board what I said, then good deed done for day.

[gc0220]

I could say something more about the bigger situation Europe faces, but I think it would be far too provocative and probably not everyone will know what is being discussed.

[netzerkaiser]

I could say something more about the bigger situation Europe faces, but I think it would be far too provocative and probably not everyone will know what is being discussed.

Gotcha. Thanks - you make good points.

[gc0220]

I'm slightly confused however, are you German or British? Your name is German and you speak of Europe, but you're talking about British currency. It makes difference. Obviously Bank of England and ECB are not the same, and situation facing Europe is quite different from UK.

[netzerkaiser]

I'm slightly confused however, are you German or British? Your name is German and you speak of Europe, but you're talking about British currency. It makes difference. Obviously Bank of England and ECB are not the same, and situation facing Europe is quite different from UK.

British. And you're so right. The Euro project is so damned unstable, like castles in sand sadly. You're spot on. They should've stuck with EEC IMHO.

[stevehappy339]

One thing I would like to tell is interest and inflation go hand in hand
Meaning if inflation +Interest is a positive number then value of your money has grown
If it’s negative then it means you actually lost money

[netzerkaiser]

One thing I would like to tell is interest and inflation go hand in hand
Meaning if inflation +Interest is a positive number then value of your money has grown
If it’s negative then it means you actually lost money

Guys, thanks. I really value all your intelligent & thoughtful inputs. I've a little saved, just purely to protect mortgage if I'm 18 months or so out of work. Signing off, on night shift, so to you all, thank you. Cheers.

[netzerkaiser]

Copy & paste job before I go:

Mortgages and inflation
As inflation increases, interest rates will rise to combat it, meaning higher rates on variable rate mortgages (and all other types of loans). Therefore, depending on the timeframe of your project and your risk profile, securing a fixed rate mortgage today could be a wise move.

[avanfurwet]

The mortgage issue has been put to bed neatly by Netzer.

It may be worth remembering the many charlatans a.k.a. financial advisors who said in 2008 there couldn't possibly be a sub-prime mortgage implosion or a global financial crisis.

These things come round in cycles with unpredictable trigger events. One day the Cassandras will accidentally be right. Every broken clock is correct twice a day.

[drevokocur66]

Debt is what makes the world go round.

[avanfurwet]

Debt is what makes the world go round.

I'm almost certain that the world was going round quite happily before some rich genius invented debts for poor people and became the first bankster

[drevokocur66]

Debt is what makes the world go round.

I'm almost certain that the world was going round quite happily before some rich genius invented debts for poor people and became the first bankster

Apologies, I meant the financial universe.

[avanfurwet]

Debt is what makes the world go round.

I'm almost certain that the world was going round quite happily before some rich genius invented debts for poor people and became the first bankster

Apologies, I meant the financial universe.

It's OK. I was being a smartass. The financial world is certainly spinning like a top, fueled by easy credit.

[gc0220]

You can't look at only one side of the ledger and think that's the whole world. Someone's debt is another person's asset. Someone's spending is another person's income. National debt is also just another form of savings.

[jackswallows]

Corrupted System and Corrupted People....
If all humans are equal why there is a financial inequality.?
Why a few always live in there heaven while majority living in their hell..? Everyone has the right to have a good life.
Big Change is coming, a new world without possessions, a world where everything is equal & everything is free, my dream, his will... very soon, someone is always watching, he hates injustices.

[gc0220]

Corrupted System and Corrupted People....
If all humans are equal why there is a financial inequality.?
Why a few always live in there heaven while majority living in their hell..? Everyone has the right to have a good life.
Big Change is coming, a new world without possessions, a world where everything is equal & everything is free, my dream, his will... very soon, someone is always watching, he hates injustices.

I thought communists didn't believe in god?

[jackswallows]

Causality, the principle that everything has a cause

[gc0220]

Causality, the principle that everything has a cause

I promise you, not all people are equal. Nor should they be.

[drevokocur66]

Everyone has the right to have a good life.

No they do not. Everything is earned. Just ask evolution.

[jackswallows]

Causality, the principle that everything has a cause

I promise you, not all people are equal. Nor should they be.

Yes, primates like you won't change, I know very well, killed all those lizards in one day, to create humans, he knows very well what to do to save humans from themselves...

[jackswallows]

Everyone has the right to have a good life.

No they do not. Everything is earned. Just ask evolution.

You are teaching me evolution..? You are saying the famous Physics theory "Theory of Causality' is wrong? I said he, but never said God.

[netzerkaiser]

I think the lot of us could learn, just to be respectful of anothers opinion, where he's coming from in that point of time in his life, & not go all superior, myself included.

That'd be a start.

[avanfurwet]

I think the lot of us could learn, just to be respectful of anothers opinion, where he's coming from in that point of time in his life, & not go all superior, myself included.

That'd be a start.

Good point.

[netzerkaiser]

I think the lot of us could learn, just to be respectful of anothers opinion, where he's coming from in that point of time in his life, & not go all superior, myself included.

That'd be a start.

Good point.

I'm learning from you.

[avanfurwet]

I think the lot of us could learn, just to be respectful of anothers opinion, where he's coming from in that point of time in his life, & not go all superior, myself included.

That'd be a start.

Good point.

I'm learning from you.

Likewise.