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Cost of Living

lemonjelly said:
https://www.bbc.co.uk/news/uk-67378808


Millions being priced out of the rental sector. I struggle to understand how some families are coping with these costs.
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It’s heartbreaking. The housing situation in this country is so broken. All the focus seems to be about building news homes but honestly, it’s impossible to ‘build’ our way out of this situation.

As a little insight from the other side, landlords are offloading properties by the bucketload. Yes that should in theory create more opportunity for purchasers but it is crippling the rental market. The well intentioned removal of section 21 evictions is having catastrophic affects. Many will probably be unaware but the June 2023 deadline for landlord licensing ( called “selective licensing” ) which (for example) Birmingham City Council is charging £700 for, is another nail in the coffin for landlords trying to offer well maintained property against the odds who are hanging in there when their peers have long since opted out.

This has been decades in the making and there is much misery with few winners, it’s particularly painful that those with the ability to stay the course will clean up while for everyone else it’s about how you manage the decline.

I’m not sure where we go going forward but it’s a desperate situation for sure.
 
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Ofgem planning a levy of £1.33 per month for all bill payers to help energy suppliers recover the £3bn in energy debts that's sat on their ledgers.

I know it's fuck all to bill payers in the scheme of things, but how about fuck off?! I know the real money is going to the providers rather than the retailers, but there's been tens of BILLIONS of energy profits creamed off the back of the war, how about you claw some of that back you robbing fucks? Fuck you.
 
lemonjelly said:
https://www.bbc.co.uk/news/articles/cxe60y11522o.amp

Looking like my c tax increase next year is going to hurt.
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A bit of the good, the bad and the ugly re: Birmingham City Council.

They applied to The Department for Levelling Up, Housing and Communities, to establish licensing for landlords and properties. The Landlord’s application is essentially a ‘fit and proper person’s’ test with the property aspect requiring some fairly stringent criteria to be met. 25 of the 69 wards were permitted to join the scheme (I don’t know why the other 44 weren’t included either) so the status is referred to as ‘Selective Leasing’.

June 23rd was the deadline day for landlords to be registered. Unsurprisingly, BCC were unable to meet the deadline due to the level of applications and so properties were allowed to be let on the basis landlords had applied for the SL licence and an application reference number was available. 50% of the £700 fee to be taken at point of application, balance upon licence being granted. 6 months later, there is no change.

Thoughts in retrospect on this is the concept is excellent but typically the success lies in the administration and enforcement. Both the Landlord and Property sections are fairly robust, although I suspect rogue operators will still find ways of slipping through the net. Can’t really see how each application can be given the scrutiny it deserves and suspect licences will granted where they shouldn’t, with the applications revisited in the event of complaints or legal action.

Not off to a great start unfortunately but overall definitely moves in the right direction.
 
NatWest Chairman in a conversation about first time buyers:

I don’t think it’s that difficult at the moment [to buy a house]. You have to save, and that’s the way it always used to be…
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Clueless fucking bellend. You're looking at 8.5 times the average salary vs average house price. Just cancel Netflix and it'll be fiiiinnnee
 
I wonder if the situation around the red sea risks being the next inflationary pressure? Some companies saying it's going to have an impact.
 
It'll definitely have an impact on costs but I think it'll be too short term a shock for it to impact prices in store. It's not like the blockage where everything was delayed and rerouted, this time only about 20% of the traffic is going the long way round
 
Del Woppio said:
NatWest Chairman in a conversation about first time buyers:



Clueless fucking bellend. You're looking at 8.5 times the average salary vs average house price. Just cancel Netflix and it'll be fiiiinnnee
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It's a fucking outrage, when we bought our house in 1985, salary/average house price was about 3-3.5 times. I was earning 8500 (missus had a small part time income) and our mortgage was 20,000, we lived frugally and still struggled to keep up the payments. I simply don't know ow how people manage now.
 
Starting to destroy Town Centre here in MD.
Losing shop after shop and now one of the main restuarants is going.

When I moved here the first year or so the high Street was making a fight back from Covid...all starting to crumble now.
 
lemonjelly said:
I wonder if the situation around the red sea risks being the next inflationary pressure? Some companies saying it's going to have an impact.
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Supply chain issues in the automotive industry have vessels navigating past the cape of good hope instead of the red sea. This will add 20+ days delivery times especially to us here in the US
I received an email from several Indian based suppliers I have stating prices for components will also increase because of the conflict
 
Mumbled something about competitive tax rates boosting growth. If he's talking personal finances we're paying the highest amount of tax per income in decades and if he's taking business, Corporation tax has recently gone up from 19% to 25%. He/they'll spout any sort of crap to hoodwink the public.
 
Something which might help that i've only just heard about is the concept of 'stoozing'.

Only works if you don't have a credit card or not much of an existing balance.

Principle being you take out a card with 0% interest for 12-18 months (usually available to new customers), spend on it as you would normally up to the credit limit. Take the money you would spend on paying the CC off each month and put it into a savings account.

Pay off the minimum balance each month and then pay off out of your savings account when the 0% ends (or Balance Transfer to another card and repeat)

You get the interest from the savings as a reward for this.

There are more detailed guides on the intranet but it can net you some extra dosh. It does negatively impact your credit rating though and you have to be extremely diligent to ensure you don't miss dates etc.
 
Are there any easy access savings accounts with an interest rate that would make that worth it though?
 
BillyDee said:
Are there any easy access savings accounts with an interest rate that would make that worth it though?
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I'm actually interested in this atm, will soon have a 'small' amount of money that I'd like to put in a savings account, I'm looking for the best interest rate, don't mind having to give a short length of notice to withdraw cash.
 
sycophantia said:
I'm actually interested in this atm, will soon have a 'small' amount of money that I'd like to put in a savings account, I'm looking for the best interest rate, don't mind having to give a short length of notice to withdraw cash.
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Used to be my game many, many years ago:

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Realistically you're never earning that much. Keeping your ISA allowance at the peak level is your best bet.

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Loads of these firms look unfamiliar but they'll be "white label" and realistically run by and underwritten by a mainstream bank mostly.
 
5.25% instant access account that I'm using with Santander at the moment.

Edit - looks like they've close this for new applicants :rolleyes:
 
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