The woman who owns the house we live in called in last night for the first time in a long time. I refuse to call her the ‘landlady’ because she wasn’t wearing a tied-on bonnet or carrying a large stick to shoo the children away. That and the fact that it perpetuates 400 years of land-based Irish subservience. Let her be known as WWOH!
After the pleasantries and handing over of non-redirected post (we have a good relationship to be fair) the topic of interest rates came up and how they’re going through the roof. Now Ms 73man and I hear of rising interest rates and think “go savings account!” and not “no not again!” We rent you see; we have no ‘really big loan’ – that’s what a mortgage is you know. WWOH started going on about increased costs and inadvertently ‘let slip’, i.e. told us unashamedly, that the mortgage she is paying on the house we were sat in had gone up by about €600 per month. She then mentioned a figure of €350 but seemed to throw this in casually as if she hadn’t been thinking about it at all. I said something like “we can talk about this again soon” and the subject went away.
I’m no economist but that’s a hell of an increase on a monthly repayment. And besides WWOH has two houses to repay mortgages on. Tough for her really because she also told us that her new business was really taking off and we previously knew that her partner is in a high profile (well-paid I would say) job. Why should we pay any of the increase in the mortgage, as people renting? After all, the risk is on her when she entered into the agreement with the bank to lend her the money. We didn’t even know her then and we didn’t enter into a risk-based agreement. She spent a good bit of her money (as opposed to her partner’s) renovating this old council house. She needs to get it back and rising interest rates are a pain for those who have to pay a mortgage. But one of the reasons that Ms 73man and I have not bought a house is precisely because interest rates have been rising. We consider that such a risk is too great for us to take. She hasn’t spent a great deal of cash since we moved in late last year so why should we pay for the increase in the risk she entered into? Free market my arse.
Speaking of free market: I’ve had enough of the ‘business reps’ of the west of Ireland (like you’ve suddenly discovered you have an affinity with Kerry shop keepers) mouthing off about Shannon losing its Heathrow slots with Aer Lingus. The airline’s a cnut for doing it but that’s the free market baby. The same free market that you defend when me and my friends criticise the US military’s use of the base, I mean airport and you reply “think of the US investments here!” You. Cannot. Have. It. Both. Ways.