how is,or is the credit crunch affecting you?

[Graeme]

I've got a multiISA to cover my mortgage and the value of that has dropped quite considerably over the last few weeks, the last few days in particular. It's a long term investment though and my financial advisor keeps telling me not to worry, it'll recover!. Doesn't make pleasant bedtime reading at the mo though!

 

[PoppyAnna]

I've got a multiISA to cover my mortgage and the value of that has dropped quite considerably over the last few weeks, the last few days in particular. It's a long term investment though and my financial advisor keeps telling me not to worry, it'll recover!. Doesn't make pleasant bedtime reading at the mo though!

This is a very good point Graeme. My Friend had a PEP (before ISA's) mortgage in the 90's and did very well from it as he took it out when the FTSE was low and it pretty much paid for his first flat
We're in favour of stock ISA's (DH likes to avoid paying too much tax ) and yes, they have dropped, but I think your FA is correct, with this strategy, it's a marathon, not a sprint....
I'm actually thinking of buying some banking shares as they've tumbled so much

 

[Chilly]

I think the main thing for me is that I planned my wedding budget when the Pound was strong against the dollar and now its not so the cost of my wedding is creeping up.

 

[Clare D]

Like everyone else I am sick of hearing about it now, I think the press have a part to play in scare mungering (sp?). Yes house prices have dropped but investors are now cashing in and snapping up properties at a lower price.
Both DH and I work in financial services, I think we are in for a rough ride over these coming months but we will just cut our cloth accordingly.
My advice is shop around for everything at the minute from your mortgage, to all of your insurances and your weekly food shopping. The £ is better in your pocket at the minute especially until the markets pick up again.

 

[Boss Hogg]

Been a bit of a pain to say the least, but being in the mortgage broking business I guess that's no surprise! Worst thing about the CC is the lack of confidence, we're able to accommodate people's request 9 times out of 10, but people think we can't so don't go looking!

Over the last couple of months rates have actually been coming down (for mortgages and buy-to-lets at least, our speciality is commercial lending), but seems to be no interest in reporting it in the media - what a surprise Ironically, it's a great time for property investors now, I just need to find them!

Other than that, petrol prices are a pain and no doubt, strange how we're still paying 114p/118p yet oil is down below $100 a barrel

Anyway time to get down from the soapbox

 

[paulh]

Ironically, it's a great time for property investors now, I just need to find them!

get those 6 numbers this weekend will be knocking on your door
Paulh

 

[Boss Hogg]

get those 6 numbers this weekend will be knocking on your door
Paulh

Deal!!

 

[T16GEM]

With the shop it's not really affecting us, sales are up almost every week, and the biggest increase on last year was a couple of weeks ago where we were 36% up. We have noticed the petrol costs - we have had to start charging for delivery as we never used to so that does help to cover some of the rising fuel costs. Food has gone up too, and the brand of baby milk that Harley has has gone up by £4 a tin!!!

Fed up of hearing about it too. I think the media attention makes it worse too I think people panic when they start going on about it on the radio and tv.

 

[T16GEM]

With the shop it's not really affecting us, sales are up almost every week, and the biggest increase on last year was a couple of weeks ago where we were 36% up. We have noticed the petrol costs - we have had to start charging for delivery as we never used to so that does help to cover some of the rising fuel costs. Food has gone up too, and the brand of baby milk that Harley has has gone up by £4 a tin!!!

Fed up of hearing about it too. I think the media attention makes it worse too I think people panic when they start going on about it on the radio and tv.

 

[Beep]

I think the main thing for me is that I planned my wedding budget when the Pound was strong against the dollar and now its not so the cost of my wedding is creeping up.

Hey Claire, I'm with you on that one! The difference between 1.98 and 1.8 cost us £700 on our wedding budget.

We're lucky that DF started working again a couple of months ago and although it is not much above minimum wage,the job looks quite stable and he has been told he will be taken on permanently and on more money.

We've also got one of the Fairfx cards that is offering a good exchange rate and no transaction fee when you purchase things with it. I reckon it will save us over £400 in total.

We've noticed the price of food is higher but we've adjusted by buying own brand stuff and being a bit more careful with what we need/want.