Originally Posted by
Fudgey
rab, i thought the interest rates had dropped slightly or something and mortages were now becoming a bit more affordable? ie £25 a month cheaper (big fucking deal eh..)
Thats not really the problem mate, the problem is that no-one is getting accepted for a mortgage without a massive deposit right now. And the one thing First time buyers are lacking is a huge deposit.
My mrotgage bloke is saying, that now, you need 25k just to get a mortgage. Unlike last year when you could have got one with 5k in the bank
And thats just for an average 150k house.
If I was you mate, I'd weather this little storm until 2010 ish, when things will pick up.
But I completely get what you mean about needing a bigger house.