The rising cost of living

[Genie]

10 minutes ago, Brumstopdogs said:

Yeah I know what you mean - some of these places are so expensive now.

On the British Gas half price electricity thing I believe you have to sign up to one of their initiatives called PeakSave where it sounds like the worst that can happen is you should get to hear about future discounts or potentially get a small portion of your bill discounted even if you don't actually change your existing routines.

Yeah, there was one a few months back where you got some money back if you reduced usage in a certain window. It was easy for us as we were out anyway. I think as we opted into that it opts into everything going forwards.

On the pricing thing it really pisses me off. Inflation is running at 8-9% yet still prices of food especially are going up more than double that between visits. They’re the bloody problem, not NHS staff wanting a payrise. 

[blandy]

On 30/06/2023 at 20:48, Davkaus said:

In 1998 the average house price was 69k and the average gross earnings was 17414. So the average house is about 4 times the average income.

In 2022 (the most recent year I can find like for like numbers for) the average house price is 286k and the average gross earnings was 33280. So the average house is about 8.5 times the average income

That's right, but not the whole story, because of historically low interest rates (until recently) payments were broadly as affordable (as a percentage of salary) in recent times as in '98 (say). There was the whole negative equity thing, too - where people back then couldn't afford their mortgage repayments and couldn't sell their house to end the mortgage because it was worth less than they paid for it.

I think my mortgage back then was 7.99% and the house value when I eventually sold it a few years later was the same as when I bought it 7 or 8 years earlier.

That isn't to say the situation now isn't terrible for people whose fixed low rates are ending, but it isn't quite the case that in the 90s things were much rosier - they weren't. Black Wednesday and all that - Tories stuffing stuff up. Same old same old.

[chrisp65]

I remember being sat in the bank negotiating the next 2 to 5 years of my mortgage. I realised I’d been there quite a while and it all felt ridiculously slow. Then I realised it was way past normal banking hours and I was still in there and the person doing my mortgage was in and out of the room and talking to the boss and going on the phone and then off out for another chat.

Eventually, I asked if everything was ok, as I really had to be getting home. I was told they were struggling to get credit. I said that was ridiculous my credit score was impeccable, lots of proven credit with no misses and a good long term job. No, no, they explained, not my credit, theirs. They couldn’t get the credit to offer me a mortgage. 

[Xela]

On 26/06/2023 at 23:20, Xela said:

HSBC OBS savings account is 4%  on the first £10k

They've increased the 4% to the first £50k now

They also do a 12 month fixed saver at 4.40% up to £1m if you don't mind tying it for a period of time. 

Natwest doing fixed rate savings starting at 5.55%

Edited July 2, 2023 by Xela

[Genie]

So the businesses with the least amount of  disruption and raked it in during Covid are the same ones ripping us off now

Quote

Drivers paid an extra 6p per litre for fuel last year at supermarkets because of weaker competition, a watchdog says. 

The Competition and Markets Authority (CMA) said supermarkets are usually the cheapest places to buy fuel but that big retailers had put up their margins. 

The regulator recommended a "fuel finder scheme" to help drivers find better prices online. 

Boss Sarah Cardell said competition was "not working as well as it should be and something needs to change swiftly". 

"Drivers buying fuel at supermarkets in 2022 have paid around 6 pence per litre more than they would have done otherwise, due to the four major supermarkets increasing their margins," she said.

link

Edited July 3, 2023 by Genie

[The Fun Factory]

Car insurance. Basically seems to have gone up by about 50%  year on year for us some reason.

[Genie]

Just now, The Fun Factory said:

Car insurance. Basically seems to have gone up by about 50%  year on year for us some reason.

Is that your renewal or a fresh quote?

My renewal was about 50% increase, instead I switched to another insurer for same price as before.

[trekka]

9 minutes ago, Genie said:

So the businesses with the least amount of  disruption and raked it in during Covid are the same ones ripping us off now

link

Asda used to lead the way with cheap petrol (amongst the supermarkets at least).  All change with the takeover of the Issa brothers (who are no strangers to the petrol market) propped up with hedge funds. 

[The Fun Factory]

11 minutes ago, Genie said:

Is that your renewal or a fresh quote?

My renewal was about 50% increase, instead I switched to another insurer for same price as before.

Renewal, £130 more than last year. Shopping around have found ones about £80 more.

[Demitri_C]

2 hours ago, The Fun Factory said:

Car insurance. Basically seems to have gone up by about 50%  year on year for us some reason.

Hmm mines gone down or been the same? I usually get mone and its usually up i get a online quote and call admiral tell them found cheaper and they always match or better

[Genie]

Quote

Supermarkets and other fuel retailers will be forced to publish live prices under a new scheme aimed at stopping them overcharging, the government says. 

It comes after Britons were found to have paid an extra 6p per litre for fuel at supermarkets last year as weak competition let them charge more.

Under the scheme drivers will be able to compare up-to-date prices online so they can find the cheapest option.

Driving groups say the idea, which is used elsewhere in Europe, is overdue. 

Energy Security Secretary Grant Shapps said it would change the law to force retailers to share this information.

link

[Davkaus]

I can't remember the last time this government did something I actually approve of

 

[Genie]

13 minutes ago, Davkaus said:

I can't remember the last time this government did something I actually approve of

 

I had the exact same thought!

My second thought was, how long is this going to take, if ever? 

[Chindie]

Labour will come out against it before sunrise.

[bickster]

If they are pretty much all overcharging how is publishing a list of all their overcharged prices going to solve anything

I know I keep going on about the two garages by me but no more than 300 yards up the road from one is a BP, it's 8p a litre more expensive, even being right next to be cheapest petrol station for miles and miles and miles doesn't put the price down

Publishing a list of live prices will achieve absolutely nothing.

 

[Wainy316]

How about do something about service station fuel prices?

[chrisp65]

Has anybody changed or moderated their driving style because of the price of fuel?

 

[Genie]

5 minutes ago, chrisp65 said:

Has anybody changed or moderated their driving style because of the price of fuel?

 

I work from home 95% of the time. If it was cheaper I’d go into the office (40 miles away) more often.

[Xela]

7 minutes ago, chrisp65 said:

Has anybody changed or moderated their driving style because of the price of fuel?

 

No.

I think its more down to me getting older. I'm quite happy to bimble about now like Miss Daisy. My fast and (mildly) furious days are behind me. 

[foreveryoung]

Always use Sainsburys Wolverhampton for Deisel fuel now, £130.7. Average is still around £1.40, still see lots of Essos, Shells, BPs over £1.50 though, bloody rip offs.

I'm guessing if Sainsburys Wolvo can do it at £1.30 price should be closer to that cost everywhere, Asda EG garages are not cheap anymore as someone has already mentioned, I guess it's what happens when you put another 6.8 billion onto your already insane debt.