Thread 15. Big Dog has been rehomed but we still need a poop scooper.

[L1ttledrummergirl]

New thread.
Link to old:
www.mumsnet.com/talk/_chat/4624784-big-dog-going-going-not-quite-gone-thread-14?page=10&reply=120289662

Hopefully I've done this so it works.

Bottom line is:
▪️Fewer mortgage products
▪️Higher interest rates on the products available
▪️Much stricter lending criteria
Add to these higher food, fuel and energy prices and things look pretty bleak
The UK is the "sick man of europe" yet again.

They've run mad!
<avid placemat>

They'll drop some products and repackage others but with higher fees/rates. Presumably lending criteria will have to tighten up.
I do wonder whether there might be a bit of a dash to sell pdq.

Higher mortgages will wipe out the savings in stamp duty

And what about mortgages that are up for renewal?

Thanks @L1ttledrummergirl. These threads are sanity savers, there are some truly bonkers people posting on some of the others.

In other news

The Labour Party conference has voted to ditch the First the Past the Post electoral system and support replacing it with a “fairer proportional electoral system”

Will they have a referendum on PR ?
Clegg wanted one and was fobbed off with the AV vote. Which had a low turn out
How would this work?

That's serious for those who need to sign up to those rates.

My question more a general, how serious is that for the country as a whole, is it a few smallish mortgage lenders having a blip or a sign of something bigger I guess?

What would the need for a referendum be?
If Labour decide to run on changing the system in their manifesto, get elected then why not just get on with it?

Fair enough , but it's a big change
I just wondered how it would be implemented , but if it's part of their manifesto they could crack on.
The Lib Dems have wanted PR for years.

Thanks for the new thread @L1ttledrummergirl

Got a feeling this current turd might flush itself if things keep going like this.

@jgw1 I have to say that I haven't got a clue. If it stays small it might be ok, if not we are truly screwed.
If people can't buy and sell then the housing market is likely to crash I would think, as people struggle with higher interest rates and negative equity. It looks fubar.

I have no financial training though so I could be totally wrong, it just seems that this is the most likely scenario to me trying to put myself in the position of those struggling.

YouGov have done a snap poll

Only 2% have got a 'lot' of confidence in Truss's Government
Only 17% have 'some' confidence
27% not very much confidence
45% no confidence

Only 45% have no confidence and 2% have lots of confidence.

She is doing a better job than I was giving her credit for.

Brilliant title!!! Thanks for the new thread.

I understand the UK's shortest stint as Prime Minister was 96days.
What will it be when Truss leaves office?

It is a fab title. Not my work, @Cornettoninja takes the credit for this one.

I think the next one will make reference to us still shovelling shit!

About time. The majority of the population haven't voted tory for almost the entire last century and yet they've been lumbered with the fuckers.

Absolutely.

So they will get voted in and be able to change it if a) they get what truth about how our current system works out there well and b) people realise that snippet of information.

I hope that a good system will be put in place. Not one where we have to have extremists in coalition with others to form a government. Or governments that constantly collapse because of infighting. Governments that have a broad church is one thing. Governments that can't get anything done is another.

It would also be good if the public were more engaged because of it.

Even without the Bank of England pushing up rates today, it seems likely that the standard rate on new mortgages and refinanced mortgages will be 5% by next week. This will have a big negative effect on the volume of housing market transactions and the value of houses, which...

in turn will have a significant negative impact on the economy and our general prosperity. In other words, it is the market that is already putting the brakes on the stimulus announced on Friday by the Chancellor, even without action by Bank of England - because markets are...

twitter.com/peston/status/1574486878719709184?s=46&t=CmEHVNV5wUA-J3O3rweJog

Thank goodness we re mortgaged in february!

twitter.com/DrBeauBeaumont/status/1574288047415468033