Cable prices going up. Anywhere to buy in bulk?

[Gavin John Hyde]

Think of it on these terms inflation is going up and by next spring could be anything around 6 or 7 % upwards.
The bank of england have to counter this by raising interest rates. It wont jump from current levels to say 5% overnight but within 2 years it will go up a few percent.
The effect will be tracker mortgages will go upwards.
New mortgages will have this factored in by the lenders.
All those who have stretched themselves to the limit on mortgages, especially help to buy are in for a rude awakening. Reposessions will go up. Property will correct itself on prices as at present levels they are not sustainable.
I personally look forward to it as i have a nice tidy deposit sitting there for the right.property.
I do believe mortgage lenders are meant to stress test you for rates at 5% when deciding affordability... Not sure if this is still done?

 

[nicebutdim]

Fact is that government borrowing has shot through the roof, during the last 18 months, with a significant increase in national debt. If we don't get our act together then we're likely to see the UK's credit rating downgraded, which means higher interest on borrowing. The current national debt has to be reduced, that's a simple fact, and this can be done off the back of a bouyant economy, reduced spending or increased taxation. All the while there needs to be a lid kept on inflation or the economy will start to shrink as consumer spending reduces. I don't want interest rates to increase as it's not in my interest for them to do so, but the reality is that they will - what is in doubt is by how much they'll rise and when?

 

[westward10]

This is somewhat drifting from @HappyHippyDad question.

 

[nicebutdim]

Indeed, although it's similar speculation on a slightly grander scale.

 

[LukeD]

Seriously ????

I know many that struggled to keep their homes at 14% years ago.

 

[123]

When disagreeing with the idea of interest rates at 5-6%, it's worth remembering that such levels are well below average for the last half century.

I'd started on a reply, then the kids took over.

No I don't see us getting anywhere close to 5% interest rate in next few years, whats happened in the past is exactly that - its in the past. The approach appears different now.

 

[nicebutdim]

I'd started on a reply, then the kids took over.

No I don't see us getting anywhere close to 5% interest rate in next few years, whats happened in the past is exactly that - its in the past. The approach appears different now.

I hope you're right and I'd happy to be proven wrong.

 

[OnlQQker]

From last Sunday when I read it... Bank official warns of early interest rate rise as Kraft Heinz puts up prices - https://www.theguardian.com/business/2021/oct/10/bank-of-england-michael-saunders-warns-potential-early-interest-rate-rise

 

[mattg4321]

I'd started on a reply, then the kids took over.

No I don't see us getting anywhere close to 5% interest rate in next few years, whats happened in the past is exactly that - its in the past. The approach appears different now.

Totally agree. No government will want to preside over high levels of repo’s.

Interest will be allowed to run higher than pre 2008 as it did around 10 years ago. Benefit for the government is that it inflates away the national debt to some extent.

House prices have only got so ridiculous partly because of low rates meaning people can borrow more. If they pull the rug now then most people with a mortgage will struggle. Including those buy to let mortgages which will push rents up. The BoE and it’s members on the monetary policy committee are not stupid people. They will pick the least worst option. Inflation.

Imo and at a guess rates will rise a bit, but the base rate probably won’t go above 2-3% in the next 10-20 years.

 

[HappyHippyDad]

This is somewhat drifting from @HappyHippyDad question.

I fear everyone is still ignoring your gentle push ?.
Q "Hi, where can I buy bulk cable?"
A "Get a tracker mortgage"
??

 

[westward10]

I fear everyone is still ignoring your gentle push ?.
Q "Hi, where can I buy bulk cable?"
A "Get a tracker mortgage"
??

Unfortunately there are some people on here who could bore the arse off a corpse.

 

[SJD]

Personally I try not to have too much stock of cable, unless buying for a specific job, maybe 1 spare reel of common sizes in addition to the reel in use. Prices can go down as well as up. And I'd be wary of having a large stock somewhere waiting to be lifted by some low life.

So I buy one or two reels at a time, from whoever has the best price at the time, which right now seems to vary a lot, sometimes a wholesaler, sometimes Screwfix or Toolstation.

 

[Risteard]

Oddly my local CEF are hard to beat on price for T&E. Better than screwfix every time.

I took a punt that cable prices would be going high and staying high earlier in the year (to be fair, it looked an easy and obvious bet based on what way it was going), and bought a heck of a lot of it. 2.5 was £45+VAT, 1.5 was £29.50+VAT and 1.0 was £23+VAT. The savings are countered by the storage space taken up (and the risk if it comes down in price I'm stuck with more expensive cable). When I've exhausted this stock, I'll not be doing it again. I'm on a long term sabbatical from new builds or rewires (lifetime ban on occupied rewires), the amount of cable used on kitchens, refurbs, bathrooms isn't too epic in the scheme of things. Costs will just be passed on to customers.

I always find CEF best for cable too.

 

[Zerax]

I do believe mortgage lenders are meant to stress test you for rates at 5% when deciding affordability... Not sure if this is still done?

They currently use 5.5% for Buy-to-let mortgages.

 

[littlespark]

I’ll second Screwfix for good prices. 2 weeks ago I bought a drum of 1.5 t&e, 1.5 3 core and 2.5 t&e when I didn’t really need it… just as spare drums for the van…

Last weekend there was a 10% off everything offer, so I got another 6 drums, on top of a load of fittings for a job specced by the customer which I won’t need for about a month.

 

[Dustydazzler]

Bank of England governor hints at November rate rise

Andrew Bailey has given his clearest hint yet that the Bank of England is about to raise interest rates in an attempt to combat a jump in inflation.

uk.yahoo.com

 

[pc1966]

I would not bulk-buy "just in case" as you might lose out or get it stolen. However, if you have a big job costed and very likely to come up then advance-buying the cable at the prices you quoted is one option.

For projects / products that use a lot of copper, etc, it is not uncommon to give a quote based on the London Metal Exchange price being in a certain range of the value on the day the quote was done.

For smaller projects you might want to add a comment on the cable costs so the customer knows the basis of your pricing so any changes are fair. For example if you quote your price with cable separate (say using Screwfix T&E costs they can check up on) separately from labour, then you can let them know the labour is fixed but cable might change if it takes them weeks/months to decide.

 

[123]

If looking to bulk buy may want to get on with it soon, as looks like another price hike in cable isn't far off...price of copper per tonne is jumping up

 

[Dustydazzler]

Sod mable prices , this is far more alarming news...?

Price of pint to increase by 30p as supply shortages drive up costs

£6 pint set to become the norm in London, industry leaders say

uk.finance.yahoo.com

 

[LukeD]

I would not bulk-buy "just in case" as you might lose out or get it stolen. However, if you have a big job costed and very likely to come up then advance-buying the cable at the prices you quoted is one option.

For projects / products that use a lot of copper, etc, it is not uncommon to give a quote based on the London Metal Exchange price being in a certain range of the value on the day the quote was done.

For smaller projects you might want to add a comment on the cable costs so the customer knows the basis of your pricing so any changes are fair. For example if you quote your price with cable separate (say using Screwfix T&E costs they can check up on) separately from labour, then you can let them know the labour is fixed but cable might change if it takes them weeks/months to decide.

THis ..... Since the beginning of this global farce .I have put in quotes that all materials that need to be provided will only be estimated and the actual cost will be made clear at each stage of purchase .Not only that but the extra time to source them needs to be mentioned . I know a few guys doing a refurb that got treated terribly by a client who insisted they kept the quote price despite it been national news that plaster etc was like gold dust . They ended up binning the job and went to work for more reasonable customers