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  1. mikeyjh

    [Finance] What should the government do about the coming base rate mortgage hike time bomb?

    There are two reasons why I doubt this government (and others?) won't do that right now. 1) It would fuel inflation! Apparently we need to take the wind out of the economy's sails, hence the interest rate rises. 2) People's perception of their wealth has become inextricably linked with the...
  2. mikeyjh

    [Finance] What should the government do about the coming base rate mortgage hike time bomb?

    I don't think you're naive, I think you are correct. Buy a house if that's what you want, and can afford to do, live in it, enjoy it and if at some point in the future you need something different then worry about it then. I watch too many programmes around the housing market (Location, Homes...
  3. mikeyjh

    [Finance] What should the government do about the coming base rate mortgage hike time bomb?

    People need to rent, people will always need to rent. There is, and I know I have a bias, and always will be a need for a rental market. Not all landlords are taking advantage of people, they are providing a service. I actually don't understand your angle, you mention that 'speculators' inflate...
  4. mikeyjh

    [Finance] What should the government do about the coming base rate mortgage hike time bomb?

    They shouldn't - I've said, repeatedly, that any good landlord would avoid increasting rents for a good tenant (which most are) - It's morally grubby but also bad business, look after your tenants and they'll look after you, kind of. That said - Interest expense is a legitimate expense of...
  5. mikeyjh

    [Finance] What should the government do about the coming base rate mortgage hike time bomb?

    "I have worked in finance for 25 years, so I’m more financially “literate” than a layman. I had a contingency" Good news, you should be okay then. "I knew that we wouldn’t be struggling with payments even if the variable rates went up to 3.5 per cent or 4 per cent. The trouble is that now...
  6. mikeyjh

    [Finance] What should the government do about the coming base rate mortgage hike time bomb?

    And that's why landlords get a bad name! You're not subsidising anyone - You're, slowly, buying an asset, you're tenant is paying you rent to occupy the flat not to pay for the purchase of it. In any case, if your rental income is greater than than the interest you're paying + maintenance &...
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