turvontour Posted March 28 Share Posted March 28 What's the approx annual salary for minimum wage now, assuming normal approx 35 to 40 hour week? Link to comment Share on other sites More sharing options...
sharkyvilla Posted March 28 Share Posted March 28 4 hours ago, turvontour said: What's the approx annual salary for minimum wage now, assuming normal approx 35 to 40 hour week? I think it's about £21k a year Link to comment Share on other sites More sharing options...
turvontour Posted March 28 Share Posted March 28 57 minutes ago, sharkyvilla said: I think it's about £21k a year Is it really. That's crazy how much that has caught up to a lot of jobs that used to be close to double minimum wage. Link to comment Share on other sites More sharing options...
Jonesy7211 Posted March 28 Share Posted March 28 1 hour ago, turvontour said: Is it really. That's crazy how much that has caught up to a lot of jobs that used to be close to double minimum wage. I think it says more about wage stagnation in this country in relation to rising prices. The minimum wage has had to go up, but most people's wages haven't risen anywhere near the same. I also think the minimum wage is still crap when compared to the actual cost of living. The line about wages pushing up inflation is BS too, it's all about shareholder profits. Link to comment Share on other sites More sharing options...
Xela Posted April 6 Share Posted April 6 (edited) Filled up yesterday - Shell V-power was 173.9p. While I don't keep a close eye on it, I'm sure that is up quite a bit from 2-3 weeks earlier when I last put some in. I think it was about mid 160s then? Edited April 6 by Xela Link to comment Share on other sites More sharing options...
Genie Posted April 6 Share Posted April 6 Diesel about 151p now, seems to be the new normal Link to comment Share on other sites More sharing options...
Xela Posted April 22 Share Posted April 22 On 06/04/2024 at 21:20, Xela said: Filled up yesterday - Shell V-power was 173.9p. While I don't keep a close eye on it, I'm sure that is up quite a bit from 2-3 weeks earlier when I last put some in. I think it was about mid 160s then? 175.9p yesterday. Link to comment Share on other sites More sharing options...
chrisp65 Posted Tuesday at 14:27 Share Posted Tuesday at 14:27 I see a few banks are putting up mortgage rates… because the BoE interest rate isn’t coming down. Link to comment Share on other sites More sharing options...
Genie Posted Tuesday at 14:50 Share Posted Tuesday at 14:50 19 minutes ago, chrisp65 said: I see a few banks are putting up mortgage rates… because the BoE interest rate isn’t coming down. I saw that story on the BBC talking about “homeowner pain” because several lenders are increasing their rates by 0.1%. 3% to 3.1% on £150k over 20 years is £8 a month. 1 Link to comment Share on other sites More sharing options...
Xela Posted Tuesday at 19:03 Share Posted Tuesday at 19:03 4 hours ago, Genie said: I saw that story on the BBC talking about “homeowner pain” because several lenders are increasing their rates by 0.1%. 3% to 3.1% on £150k over 20 years is £8 a month. BBC scaremongering saying its a 'hike'! I've seen bigger rises on a snooker table. 1 Link to comment Share on other sites More sharing options...
DCJonah Posted Wednesday at 18:15 Share Posted Wednesday at 18:15 My mortgage is set to go up by about £500 in September. Is it a crazy idea to remortgage with an interest only mortgage for 2 years and hope interest rates have come down when I remortgage again? Link to comment Share on other sites More sharing options...
Genie Posted Wednesday at 18:50 Share Posted Wednesday at 18:50 33 minutes ago, DCJonah said: My mortgage is set to go up by about £500 in September. Is it a crazy idea to remortgage with an interest only mortgage for 2 years and hope interest rates have come down when I remortgage again? Personally I’d think about extending the term to reduce the impact on the monthly price rather than go interest only. Is +£500 the variable rate it’ll go into at the end of the current fixed term, or is it the best deal available today? Link to comment Share on other sites More sharing options...
Loxstock92 Posted Wednesday at 19:04 Share Posted Wednesday at 19:04 46 minutes ago, DCJonah said: My mortgage is set to go up by about £500 in September. Is it a crazy idea to remortgage with an interest only mortgage for 2 years and hope interest rates have come down when I remortgage again? How long have you got left on your term? Going onto Interest only may not be much less than what you were paying at the moment. Only concern would be that the shorter your term remaining, if rates don’t come down in 2 years, then your monthly payments will be even higher when you go back onto repayment 1 Link to comment Share on other sites More sharing options...
DCJonah Posted Wednesday at 20:14 Share Posted Wednesday at 20:14 1 hour ago, Genie said: Personally I’d think about extending the term to reduce the impact on the monthly price rather than go interest only. Is +£500 the variable rate it’ll go into at the end of the current fixed term, or is it the best deal available today? Best deal available at the moment. Link to comment Share on other sites More sharing options...
DCJonah Posted Wednesday at 20:17 Share Posted Wednesday at 20:17 1 hour ago, Loxstock92 said: How long have you got left on your term? Going onto Interest only may not be much less than what you were paying at the moment. Only concern would be that the shorter your term remaining, if rates don’t come down in 2 years, then your monthly payments will be even higher when you go back onto repayment 25 years left. The increase isn't going to kill us financially but I was just thinking of it as a short term pause with the hope that interest rates come down. Yes it will slow down the rate but at some point my wife and I will inherit money and would look to pay a lump sum then in the future. Link to comment Share on other sites More sharing options...
Genie Posted Wednesday at 20:18 Share Posted Wednesday at 20:18 2 minutes ago, DCJonah said: Best deal available at the moment. Whats the difference to the variable? Maybe it’s worth holding on as long as possible for rates to drop a bit for a better deal? Risky, but if the price isn’t much more then it might be an option 1 Link to comment Share on other sites More sharing options...
Loxstock92 Posted Wednesday at 20:22 Share Posted Wednesday at 20:22 Just now, DCJonah said: 25 years left. The increase isn't going to kill us financially but I was just thinking of it as a short term pause with the hope that interest rates come down. Yes it will slow down the rate but at some point my wife and I will inherit money and would look to pay a lump sum then in the future. Ahhh if it’s 25 years then it’s not so bad then. You can throw the numbers into a calculator and decrease the term by 2 years and see the difference assuming rates don’t change, shouldn’t be that much relative to what you were going to be paying. Just check that you meet the criteria for going onto interest only as they can be quite strict and require a low loan to value and plenty of equity depending on the lender. You can still put any extra money into the mortgage whilst on IO so stil bringing the debt down if you wanted to. if you went down the term extension route, you can apply under the mortgage charter up to retirement age without the need for any formal checks. You can switch to IO on this however it’s only for 6 months. 1 1 Link to comment Share on other sites More sharing options...
Genie Posted Thursday at 15:14 Share Posted Thursday at 15:14 A bag of haribos, was always around the £1 mark for years. Then it went to £1.25 and quickly £1.35. Just called into the shop and picked up a bag (for the children, honest)… £1.55 First the petrol and now haribos. Where wil it end??? Link to comment Share on other sites More sharing options...
ender4 Posted Thursday at 15:23 Share Posted Thursday at 15:23 8 minutes ago, Genie said: A bag of haribos, was always around the £1 mark for years. Then it went to £1.25 and quickly £1.35. Just called into the shop and picked up a bag (for the children, honest)… £1.55 First the petrol and now haribos. Where wil it end??? Freddos and Big Macs. Link to comment Share on other sites More sharing options...
ender4 Posted Thursday at 15:26 Share Posted Thursday at 15:26 On 28/03/2024 at 08:57, turvontour said: What's the approx annual salary for minimum wage now, assuming normal approx 35 to 40 hour week? Minimum wage if aged over 21 years old: 35 hour week - £20,820 37.5 hour week - £22,308 40 hour week - £23,795 Link to comment Share on other sites More sharing options...
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