Interest Rates

[SpokeyDokey]

Makes it awkward buying n+1 bikes too!🤣🤣🤣

We are very tolerant of each others spending foibles. 😁

 

[Mo1959]

We are very tolerant of each others spending foibles. 😁

Thankfully the cat 🐈 doesn’t mind how much I spend! She has a new bed coming this afternoon so she better not complain.

 

[Deleted User]

Well it was a bit odd my Dad lending Mum money so they could go on holiday together

So anyone who says "mine and hers" or quote percentages seem to me to be monitoring family money rather too much.

That's where we'll have to agree to differ I'm afraid because what me and the wife earns is our own but then a portion of it goes towards the running of 'our ' home.

There's no 'monitoring ' as you call it because we have no view of each others accounts, what your saying doesn't make sense?

Surely having a joint account makes it more open to monitoring?

 

[jowwy]

Any chance we can get back to the topic of interest rates. I dont think anyone cares about whether people share accounts or not

 

[Alex321]

Where did I say it's "my/her" money? Show me that and you can call me stone age otherwise apologise. I know plenty of very forward thinking, articulate, intelligent couples who choose to operate separate bank accounts. This does not mean they don't share the financial responsibility but simply wish to run their accounts separately.

To my mind individuals who insist on all monies being in a joint account are distrustful and controlling of their partner by not allowing the partner the freedom to be involved in choosing how a contribution household finances is managed.

I genuinely cannot imagine any possibility that could cause you to think that.

In fact it is (at least in our case) the exact opposite. We have completely joint accounts because we DO trust each other. Any significant financial decisions are always taken jointly.

I think it more likely that wanting to keep separate accounts is a sign of distrust than wanting joint accounts. That doesn't mean it necessarily means that though, and I certainly agree there is nothing "Stone Age" about wanting that.

 

[Alex321]

I don't know any major wage earners/sole breadwinner (insert excuse here) that approaches 50% of the work of a family unit.

Not sure what the last bit meant?

I read it as meaning that working for a salary does not involve as much work as keeping the home up does, so when one person is sole breadwinner, the other is doing the bulk of that, then they are probably actually putting more work in.

 

[Alex321]

Any chance we can get back to the topic of interest rates. I dont think anyone cares about whether people share accounts or not

You clearly think wrong.

Otherwise there wouldn't be all these posts about it

 

[jowwy]

You clearly think wrong.

Otherwise there wouldn't be all these posts about it

You mean the same 3 members arguing over it.

 

[Bonefish Blues]

Any chance we can get back to the topic of interest rates. I dont think anyone cares about whether people share accounts or not

They've gone up more quickly than would otherwise have been the case. It's a problem. They'll go up more before they come down. It'll likely cause a house price reversal. That's about it.

There you go 😊

 

[SpokeyDokey]

They've gone up more quickly than would otherwise have been the case. It's a problem. They'll go up more before they come down. It'll likely cause a house price reversal. That's about it.

There you go 😊

And it will all be lead by the Fed Reserve and the mighty dollar.

No quick fix after whenever it peaks - they are not going to come tumbling down anytime soon.

Maybe the mortgage market will need an overhaul?

Much longer term mortgages may be the order if the day.

Would it be possible to swap equity ilo of repayments or part of the repayment - with an option to buy back when possible? Maybe the Gov' could take a stake?

^^^^ Might be a load of cobblers but in truth I haven't got many ideas on the subject.

Not an expert on mortgages but clearly many home owners who have ever known these crazy low rates will probably be in serious trouble in the not too distant future and some form of support will be required.

As an aside, somewhere along the line we need to get off of the 'home as an investment' way of life - whether it is primary owners or the BTL brigade.

 

[Chislenko]

And it will all be lead by the Fed Reserve and the mighty dollar.

No quick fix after whenever it peaks - they are not going to come tumbling down anytime soon.

Maybe the mortgage market will need an overhaul?

Much longer term mortgages may be the order if the day.

Would it be possible to swap equity ilo of repayments or part of the repayment - with an option to buy back when possible? Maybe the Gov' could take a stake?

^^^^ Might be a load of cobblers but in truth I haven't got many ideas on the subject.

Not an expert on mortgages but clearly many home owners who have ever known these crazy low rates will probably be in serious trouble in the not too distant future and some form of support will be required.

As an aside, somewhere along the line we need to get off of the 'home as an investment' way of life - whether it is primary owners or the BTL brigade.

Some will prosper as always, cash rich investors will be just waiting for the bank repossessions / fire sale.

Just looking locally it would appear to be bringing prices down already. A house that sold last year a couple of streets away for 550 is back on the market for 475.

 

[classic33]

And it will all be lead by the Fed Reserve and the mighty dollar.

No quick fix after whenever it peaks - they are not going to come tumbling down anytime soon.

Maybe the mortgage market will need an overhaul?

Much longer term mortgages may be the order if the day.

Would it be possible to swap equity ilo of repayments or part of the repayment - with an option to buy back when possible? Maybe the Gov' could take a stake?

^^^^ Might be a load of cobblers but in truth I haven't got many ideas on the subject.

Not an expert on mortgages but clearly many home owners who have ever known these crazy low rates will probably be in serious trouble in the not too distant future and some form of support will be required.

As an aside, somewhere along the line we need to get off of the 'home as an investment' way of life - whether it is primary owners or the BTL brigade.

Wasn't there a prediction, in the second half of last week, of a 20% drop in house prices.

 

[Bonefish Blues]

And it will all be lead by the Fed Reserve and the mighty dollar.

No quick fix after whenever it peaks - they are not going to come tumbling down anytime soon.

Maybe the mortgage market will need an overhaul?

Much longer term mortgages may be the order if the day.

Would it be possible to swap equity ilo of repayments or part of the repayment - with an option to buy back when possible? Maybe the Gov' could take a stake?

^^^^ Might be a load of cobblers but in truth I haven't got many ideas on the subject.

Not an expert on mortgages but clearly many home owners who have ever known these crazy low rates will probably be in serious trouble in the not too distant future and some form of support will be required.

As an aside, somewhere along the line we need to get off of the 'home as an investment' way of life - whether it is primary owners or the BTL brigade.

The same homeowners that have new cars sitting on their drives on PCP. I fear it'll be ugly. It is/was a time to batten 'em down, not p*ss money at those who have plenty - it's not an intellectual game, it's real life.

 

[Bonefish Blues]

Wasn't there a prediction, in the second half of last week, of a 20% drop in house prices.

Yep

 

[Arrowfoot]

Things have moved on significantly since the old days. Ask any banker and he will tell you that joint accounts which was a given up to 30 years ago is no longer favoured. If there is a joint account, it is usually is a secondary account for both and used for utilities and expense account.

Women are on equal terms and married surname is either no longer in vogue or they just retain their original birth surname at the workplace as they intend to have an identity of their own even when happily married.

There is also an expectation of privacy amongst established relationships in the newer generation.

The thing to do is have a decent lawyer and clear will and a copy to be exchanged between partners.