Uber Doomed: typical homeowner is paying £135 more a month for their mortgage

[milanbenes]

'The cost of the typical home loan has soared to a seven-year high with families facing mortgage bills more than 20 per cent higher than two years ago as the effects of the credit crunch take their toll.

Bank of England figures show that the typical homeowner is paying £135 more a month for their mortgage than last year, prompting fears of a rise in home repossessions as people struggle to pay debts.'


http://www.telegraph.co.uk/news/main.../nrates107.xml


ouch 135 pound more a month than last year, 1500 quid a year not being spent on other things, ouch, feel that economy slow down


Milan.

[oracleslave]

'The cost of the typical home loan has soared to a seven-year high with families facing mortgage bills more than 20 per cent higher than two years ago as the effects of the credit crunch take their toll.

Bank of England figures show that the typical homeowner is paying £135 more a month for their mortgage than last year, prompting fears of a rise in home repossessions as people struggle to pay debts.'


http://www.telegraph.co.uk/news/main.../nrates107.xml


ouch 135 pound more a month than last year, 1500 quid a year not being spent on other things, ouch, feel that economy slow down


Milan.

£135 a month! How am I ever going to manage? Might have to take the train to Ascot on the weekend and sell the chopper.

[ChimpMaster]

Re: the recent thread where a number of people here thought that £1000 a year was not a lot of money.

It is a lot of money to much of the population. £135/month will hurt many, especially when combined with soaring inflation in energy and foodstuffs.

[BrilloPad]

house prices are a matter of opinion - debt is a matter of fact

[DimPrawn]

Re: the recent thread where a number of people here thought that £1000 a year was not a lot of money.

It is a lot of money to much of the population. £135/month will hurt many, especially when combined with soaring inflation in energy and foodstuffs.

It's not the £135/month in isolation, but this combined with double digit % rises in gas, electricity, petrol/diesel, train fares, basic food stuffs, council taxes.

Bundle this in with rising debt costs and you have a recipe for mass bankruptcy and reposessions.

But anyhow, the solution is to get into BTL.

HTH

[sasguru]

But anyhow, the solution is to get into BTL.

HTH

Aye. All these repossessed are going to have to move to rental.
Boomed!!

[BrowneIssue]

It's not the £135/month in isolation, but this combined with double digit % rises in gas, electricity, petrol/diesel, train fares, basic food stuffs, council taxes.

Bundle this in with rising debt costs and you have a recipe for mass bankruptcy and reposessions.

Phew! It's a good job that inflation is so low, otherwise things would be bad.

[ChimpMaster]

You might laugh, but with CPI being based on the price of a DVD player imported from China - this too will soon go up!

[Iron Condor]

Since when was a 200K mortgage typical?. Maybe for Telegraph readers its typical. Probably only 10% or less of mortgage holders have mortages that big...

[gingerjedi]

What’s all the fuss about? My mortgage rate was 13% in the early 90's... it's cyclical and will go up as well as down, I didn't see too many stories about how much extra cash people had when it was at a low? If people have been too greedy and overstretched themselves then they only have themselves to blame.

In real terms almost everything is cheaper than it was 10 years ago yet public opinion says things are more expensive??