Cost of living squeeze in 2022, 23 & 24 (Vol. 2)
Discussion
gregs656 said:
119 said:
Supermarkets recording bumper sales in the lead up to Christmas since 2019 and mortgage lenders cut rates so things are looking up for the start of 2024 hopefully!
That surprises me. I was back in the UK over Christmas and the shops seemed quiet. People all of social media posting Rambo meme pictures, getting prepared to go to Tesco for Christmas shopping
We were in Belfast 2 weeks before Christmas getting stuff. Some sports clothing for my son in JD Sports and there was a zig zag queue at the till, the kind you see at airport security.
Multi storey car park was 1 in 1 out at 10am. Absolute chaos at times.
119 said:
Supermarkets recording bumper sales in the lead up to Christmas since 2019 and mortgage lenders cut rates so things are looking up for the start of 2024 hopefully!
I don't know where the source is for them s 😔 info but at least two of the last Christmas' were cancelled by the government (COVID) and the other was more off than on so I don't see being the best since 2019 ( however that's adjusted) to be anything to shout about.Thankyou4calling said:
119 said:
Supermarkets recording bumper sales in the lead up to Christmas since 2019 and mortgage lenders cut rates so things are looking up for the start of 2024 hopefully!
I don't know where the source is for them s ?? info but at least two of the last Christmas' were cancelled by the government (COVID) and the other was more off than on so I don't see being the best since 2019 ( however that's adjusted) to be anything to shout about.https://www.bbc.co.uk/news/business-67865065
119 said:
Thankyou4calling said:
119 said:
Supermarkets recording bumper sales in the lead up to Christmas since 2019 and mortgage lenders cut rates so things are looking up for the start of 2024 hopefully!
I don't know where the source is for them s ?? info but at least two of the last Christmas' were cancelled by the government (COVID) and the other was more off than on so I don't see being the best since 2019 ( however that's adjusted) to be anything to shout about.https://www.bbc.co.uk/news/business-67865065
Digga said:
119 said:
Thankyou4calling said:
119 said:
Supermarkets recording bumper sales in the lead up to Christmas since 2019 and mortgage lenders cut rates so things are looking up for the start of 2024 hopefully!
I don't know where the source is for them s ?? info but at least two of the last Christmas' were cancelled by the government (COVID) and the other was more off than on so I don't see being the best since 2019 ( however that's adjusted) to be anything to shout about.https://www.bbc.co.uk/news/business-67865065
Louis Balfour said:
snuffy said:
scenario8 said:
I’ve seen it mentioned across several platforms that 1.5m mortgages will reach the end of their fixed term in 2024.
Mentioned in this link but no citation.
https://www.bbc.co.uk/news/business-67873017
As a large number of people are on fixed rates, and have been for a goodly number of years now, then it stands to reason that in any given time period X, Y people's fixed term mortgage will come to an end.Mentioned in this link but no citation.
https://www.bbc.co.uk/news/business-67873017
And yet, without fail, the media trot it out as if it's some kind of staggering revelation that no one has ever seen occur before.
Vanden Saab said:
Why on earth would you fix your mortgage now. It seems that rates are more or less guaranteed to fall significantly in the next two years. Are the current variable rates that much higher or is it that the cancellation costs after two years are lower overall.
All of the mortgage products I considered recently had an SVR of about 8%. Trackers available to people with an LTV or more than 60% are often 1% or more over base so you're straight in at 6.25%. The fixes currently available will win out.
So it comes down to choosing a fix term.
Hence 2-year fix is I think the most popular choice at the moment?
Vanden Saab said:
Why on earth would you fix your mortgage now. It seems that rates are more or less guaranteed to fall significantly in the next two years. Are the current variable rates that much higher or is it that the cancellation costs after two years are lower overall.
For me to stay on the variable rate with my current lender my payment would go from £737 to £1314. Going with a new lender on a variable rate is £1050 average, on a fixed rate it's £881. So over the course of the year i'd be paying out an extra £2028 if nothing changed in the hope that rates drop. fiatpower said:
Vanden Saab said:
Why on earth would you fix your mortgage now. It seems that rates are more or less guaranteed to fall significantly in the next two years. Are the current variable rates that much higher or is it that the cancellation costs after two years are lower overall.
For me to stay on the variable rate with my current lender my payment would go from £737 to £1314. Going with a new lender on a variable rate is £1050 average, on a fixed rate it's £881. So over the course of the year i'd be paying out an extra £2028 if nothing changed in the hope that rates drop. soupdragon1 said:
??
We were in Belfast 2 weeks before Christmas getting stuff. Some sports clothing for my son in JD Sports and there was a zig zag queue at the till, the kind you see at airport security.
Multi storey car park was 1 in 1 out at 10am. Absolute chaos at times.
We have seen it in this thread many times, 'town seems packed' etc. but then you see this:We were in Belfast 2 weeks before Christmas getting stuff. Some sports clothing for my son in JD Sports and there was a zig zag queue at the till, the kind you see at airport security.
Multi storey car park was 1 in 1 out at 10am. Absolute chaos at times.
"Shares in JD Sports have plummeted by more than 20% after the sportswear seller issued an profit warning.
The company said its profits would be about £125m lower than previously predicted after a worse-than-expected festive trading period."
I think that sometimes, people just want to get out of the home and interact, especially at Christmas.
Carl_VivaEspana said:
soupdragon1 said:
??
We were in Belfast 2 weeks before Christmas getting stuff. Some sports clothing for my son in JD Sports and there was a zig zag queue at the till, the kind you see at airport security.
Multi storey car park was 1 in 1 out at 10am. Absolute chaos at times.
We have seen it in this thread many times, 'town seems packed' etc. but then you see this:We were in Belfast 2 weeks before Christmas getting stuff. Some sports clothing for my son in JD Sports and there was a zig zag queue at the till, the kind you see at airport security.
Multi storey car park was 1 in 1 out at 10am. Absolute chaos at times.
"Shares in JD Sports have plummeted by more than 20% after the sportswear seller issued an profit warning.
The company said its profits would be about £125m lower than previously predicted after a worse-than-expected festive trading period."
I think that sometimes, people just want to get out of the home and interact, especially at Christmas.
RayDonovan said:
'Next' results have been decent but I think they massively benefit from a really slick online offering - not sure any retailer combines online and physical as well as Next do.
Coincidentally, I just heard on the news that Next is warning customers that there may be delivery delays due to a lot of their product being transported through The Red Sea. Edited by cuprabob on Thursday 4th January 14:56
cuprabob said:
RayDonovan said:
'Next' results have been decent but I think they massively benefit from a really slick online offering - not sure any retailer combines online and physical as well as Next do.
Coincidentally, I just heard on the news that Next is warning customer that their may be delivery delays due to a lot of their product being transported through The Red Sea. Carl_VivaEspana said:
soupdragon1 said:
??
We were in Belfast 2 weeks before Christmas getting stuff. Some sports clothing for my son in JD Sports and there was a zig zag queue at the till, the kind you see at airport security.
Multi storey car park was 1 in 1 out at 10am. Absolute chaos at times.
We have seen it in this thread many times, 'town seems packed' etc. but then you see this:We were in Belfast 2 weeks before Christmas getting stuff. Some sports clothing for my son in JD Sports and there was a zig zag queue at the till, the kind you see at airport security.
Multi storey car park was 1 in 1 out at 10am. Absolute chaos at times.
"Shares in JD Sports have plummeted by more than 20% after the sportswear seller issued an profit warning.
The company said its profits would be about £125m lower than previously predicted after a worse-than-expected festive trading period."
I think that sometimes, people just want to get out of the home and interact, especially at Christmas.
Issue with JD Sports is I seen on a pair of Nike trainers, £140 but sports direct had them for £110 so I saved the £30. If JD had them at same price, they would have got the sale there and then as it was in their premises I seen the product I really liked for a present for my son.
RayDonovan said:
'Next' results have been decent but I think they massively benefit from a really slick online offering - not sure any retailer combines online and physical as well as Next do.
Tbh not many of the big highstreet shops are bad these days, they’re all mostly using the same tech (I’ve sold it to them in some cases). JD have been pretty advanced for a while. Suspect their audience are feeling the hit more than most.
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