The Woodlock Line



Yeah, we've been on 1.6% fixed for the last 5 years. Now it's 5% ISH. Not helped by our orange friend over the pond......
He's not the main problem here. Two of my three children were buying property in the year after the pandemic, and I told them then to leave financial headroom with their mortgage arrangements as inflation was coming down the track.

Three big causes:

  • Quantative Easing by the BoE and other international banks after the credit crunch.
  • Support measures taken by our government (in common with many others) during the Pandemic/lockdowns.
  • Ukraine conflict and our reliance on imported oil and especially gas.

The current fuel price fluctuations haven't really impacted hard on the BoE decisions on domestic interest rates - may have restricted movement a little, and may have made lenders a bit jittery, but not the main cause of your hike.
 
A little trip to the garden centre on the way home from work resulted in a new hydrangea and a fatsia.... Just a simple train and a hot cat suffering in the garden shade. Excuse the grass, we dare not cut it, in case the hot weather kills it. It's now 2 months without meaningful rain up here in Pontefract.

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How come yoh have green grass?
In the back garden we put miniature clover in the grass a few years ago. It's a lot more drought tolerant, and keeps the lawn nice an thick, it's also good for the soil. That and watering it every few days. Yorkshire Water hasn't banned us yet.
 
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