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This means nothing i’m afraid. All this means is that they will debate it in the house of commons. It has not been agreed or debated.
most of the large appliance repairers are still offering calls ,
https://www.hotpointservice.co.uk/covid19-updateBit of a kick-off on the way as the “loans” that government are offering are through the banks. Effectively HMG pays the interest for a year to give interest-free for a year.
Problems with this abound.
Firstly the banks are treating it as an overdraft application and some banks are looking for personal guarantees for it. So if you don’t know, that means if the company folds the bank can come after you for the money, repossess your house, car, van etc. This is not cool, not cool at all.
Next, we looked at the banks and they’d sneaky ******* as we found one or two have bumped the interest rates up since this began, for example, I think Santander has gone from 5.7{e5d1b7155a01ef1f3b9c9968eaba33524ee81600d00d4be2b4d93ac2e58cec2d} to over 10{e5d1b7155a01ef1f3b9c9968eaba33524ee81600d00d4be2b4d93ac2e58cec2d} so if you go beyond the 12 months (if you can get it or want to) then you get humped at the backend.
This is the highlights of what we found looking and then, this morning, I see the BBC reporting this and that a good many ain’t at all happy about this.
https://www.bbc.co.uk/news/business-52043896
Just so you all know as, if you thought this was a lifeline then it might not be what it seems and the risk to HMG appears to have been almost completely mitigated.
K.
80{e5d1b7155a01ef1f3b9c9968eaba33524ee81600d00d4be2b4d93ac2e58cec2d} of profit up to £2.5K, I didn’t expect that!
Well done Rishi, I never doubted you
We’ve just got to scratch through until June when we get the payment process going!! I too just have this horrible feeling in my gut that somehow, when it comes down to it, I won’t be eligible anymore. Fingers crossed in that.
Its going to be a long hard few months ahead.
I thought about going down that route about 10 years ago and did a U turn at the last minute. I’m so glad I did now.
so quiet out there.
had two jobs to fit parts today, both customers cancelled as there too scared for me to come into their homes.
Roll on June until we can claim 80{e5d1b7155a01ef1f3b9c9968eaba33524ee81600d00d4be2b4d93ac2e58cec2d}.
Been thinking about claiming the 80{e5d1b7155a01ef1f3b9c9968eaba33524ee81600d00d4be2b4d93ac2e58cec2d}, I wonder if it will be like Universal Credit and Council Tax Support where you only qualify if you can demonstrate hardship by having savings under £16,000?That’s what I meant with the comment before, the devil is in the detail and as yet, not much detail.
Sounds great, like the “loans” but in reality, is it what it appears to be from the announcement?
K.
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