Talk Morgan Forums Community The Malvern Arms The Planet of BoE

So, scarcity of vegetables has surprisingly pushed up inflation and therefore the every day folk of the BoE take money out of the economy by pushing mortgage rates to a 14year high.

I just came back from France - no scarcity of vegetables there, wonder why?

Don’t worry about people losing houses or banks folding….onward and upward for the one trick BoE pony.

There is a very obvious answer to that, but many people don't want to accept it

Its surprising that people often think of mortgages from just one angle. I am happy if mortgage rates go up to more normal levels, because it means that my savings income goes up as well. There are after all more households without mortgages than with mortgages. Not only that but mortgagees have had it good for 15 years and even now we arent back to normal interest rate levels.

The B of E has only one trick - interest rates. But worry if they donw get inflation under control - the highest previous bank rate was 17% in 1980.

I believe the veg shortages (all gone now I understand) were down to withdrawal of british supplies since we didnt subsidise their energy use, and a bad winter in Spain and N Africa. Nothing to do with Brexit

As long as you're ok then!

So why should the minority - those that have mortgages, be the ones to suffer & take the hit to bring inflation down? just so those who have no mortgage but have savings, can save even more.

How about increasing VAT on luxury goods, would be far fairer.

People that think of mortgages right now are often the young aspiring generation that have had to take on big mortgages to get anywhere near the spiralling house prices of the last 30 years. I personally wouldn’t wish this debacle on them.

“believe the veg shortages (all gone now I understand) were down to withdrawal of british supplies since we didnt subsidise their energy use, and a bad winter in Spain and N Africa. Nothing to do with Brexit”

Not strictly true, farm workers wages have been forced up by Brexit, which adds to the pressures put on farmers that are already facing energy price hikes.

Yep, a lack of seasonal migrant workers due to Brexit has led to an increase in costs.

Also energy costs:



And ease of trade:



There are several other reasons, but not much point as I imagine 'the lady's not for turming'

My last mortgage rate was 10% I have in the past had 11% and 18%, for the last 15 years I have earned nothing on my savings so I for one am glad the interest rate is going up I've done my time on high mortgage rates I'm now looking forward to getting some return on my hard earned instead of giving it to the banks.

Yep.
The world is far more connected now than ever before, we are all playing Jenga not draughts these days.

I thought we suffered drafts and have no idea what Jenga is. I have a suspicion it is some Korean side dish?

I thought we were now playing Candy Crush, Fruit Ninja, Minecraft and Fortnite these days, it's all I hear in my office.

From distant memory I hit 15.5% and thought about converting the dining room in a bedroom for a fourth lodger.