How much are your mortgage payments?
14-01-2006 | 07:29 PM
#81
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Originally Posted by Lee Reynolds
Originally Posted by * Rudey *
anybody looked into self builds? timber framed houses youd be bloody shocked at what you could build for 200k, i,ll be building my own when the times right without a doubt 
but metal frames are much better and MUCH cheaper than timber frames
14-01-2006 | 07:33 PM
#83
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From: south yorkshire
Originally Posted by XRTypeRS
Originally Posted by Westy
Anyway Im just going to keep renting until the madness ends its cheaper and no risk of negative equity, "buying" with a mortgage is just renting off the bank anyway!
Of the mortgage payment you make how much is going to paying off your debt??, if you actually work it out its a very small proportion, the rest is going straight into the banks profits, and if you have an interest only mortgage your not paying it off at all - it is just renting off the bank.
A good test is to look on a rental site and see how much rent on a place would be and then find a very similar house in quality / location and work out the interest only mortgage cost. In most cases you will find the difference is not very much. Then factor in all the costs of repairs and maintainance you have to make on your own house in a year (which, when renting the landlord will have to pay) and you will probably find that renting is a fair bit cheaper.
I'd love to buy my own place, renting doesnt feel as good for sure, but theres no way Im saddling myself with a lifetime of dept to hand the seller a 150% profit just for sitting tight for the last 5 years!.
All just IMO
but this makes compelling reading! http://www.firsttimebuyerhelp.co.uk/.../ftbbeware.pdf
On a repayment mortgage you dont pay the interest first then the actual amount borrowed, its a combined amount each month...so much pays the interest and so much the amount borrowed. so if you sell up after 5 yrs of the mortgage, you get money back from the sale of the house, you wouldnt get money of the landlord! So how can it be as good?
20 years of paying the bank (as you put it) £1500 per month for a house worth 200k now is 360000 in total(may be more or less depending on interest rate) and will probably be worth about 400k in 20 years!
To rent a 200k house is about 800 per month round here. So rent that for 20 years and thats £192000!!!
You save the £700 per month difference in a high interest acount for 20 years...that would net you probably about 130k as its taxable.
So you would have paid out 322k with rent and saving and only 130k of it is yours!!!!
I really dont see how you can compare renting to having a mortgage!
14-01-2006 | 07:34 PM
#84
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From: south yorkshire
Originally Posted by Daviet
Originally Posted by Lee Reynolds
Originally Posted by * Rudey *
anybody looked into self builds? timber framed houses youd be bloody shocked at what you could build for 200k, i,ll be building my own when the times right without a doubt
but metal frames are much better and MUCH cheaper than timber frames
I would NOT build a timber frame house in this country! They do build them but imo it isnt as good!
14-01-2006 | 07:36 PM
#87
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3 BEDROOM SEMI ,private housing estate,garage,front and back garden,utilati room,dinning room £440 a month and £138 pcm council tax,the joys of living in unpopulated scotland
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14-01-2006 | 07:37 PM
#88
Originally Posted by b19bal
westy your paying the banks rent instead 
anyway, Im off out, have a good'un mate
14-01-2006 | 07:42 PM
#89
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From: south yorkshire
Originally Posted by b19bal
Originally Posted by Lee Reynolds
Originally Posted by Oranoco
Me and the missus are hoping to buy this year and we are reckoning on £800+ a month for a two bed end of terrace 
Wasn't fussed until I worked out we had paid over £13k in rent since we moved in together
Wasn't fussed until I worked out we had paid over £13k in rent since we moved in together
13k just wasted and not even on a good time
my mortgage is something like 750ish
see lee thats what you think cause you bought a house with a 5 % deposit a few years ago prob with a endowment and now its worth 50% or more ontop of what you paied
would you get a 100% morgage and a loan to cover the last 10% to buy a palce that sooo many are allowed to do these days,,,,,,,,, imagine the interest rate your now paying based on what its gonna go up by ???
price of houses in london are stablising,,,,,that means they will do the same all over and then theres no gain apart from owning your own place
tbh i WOULD rent if i could pay less than what i pay now PURELY on the basis that i have no stress or worrys and then if i split with the missus i wouldnt have to live in rented accomdation STILL paying a morgage and have half the cash at the end
theres LOADS of things to consider people
too many just love saying what there place is worth to make em feel like they have achived stuff and when they sell they made loads of proffit
but then they all get a new place AND ANOTHER LOAN for the extra cash
you aint made shite people please remember that
how many people here can sell there place for a profit they can ACTUALLY SPEND ????
if you cant spend it then its pointless,,,,,,,,, why have 200 million in the bank if you have to shop at netto for beans
would be better off loaning 100k and putting it into investments imo for a quicker return when still renting
but dont talk to me about money as i got a low paied job and a misus whos in college and a 2 year old child and i STILL manage to own 5 cars and the only loan ive got is from when my central heating broke down
we only bought our place cause it was the only chance of getting a palce to live we could afford,,,,,,, thats all or we would GENUINLY be renting a flat
I have moved up the ladder by renovating and making money on top of the inflation!
And thats crap too mate about why have a house worth xx if ya cant spend it! When im about 55 i will retire and more than likely sell the house at a say about 500k, and rent a nice place and live off that money till i die. Whatever is left the kids can have.
14-01-2006 | 07:44 PM
#90
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From: Im behind you
Originally Posted by Lee Reynolds
Originally Posted by XRTypeRS
Originally Posted by Westy
Anyway Im just going to keep renting until the madness ends its cheaper and no risk of negative equity, "buying" with a mortgage is just renting off the bank anyway!
Of the mortgage payment you make how much is going to paying off your debt??, if you actually work it out its a very small proportion, the rest is going straight into the banks profits, and if you have an interest only mortgage your not paying it off at all - it is just renting off the bank.
A good test is to look on a rental site and see how much rent on a place would be and then find a very similar house in quality / location and work out the interest only mortgage cost. In most cases you will find the difference is not very much. Then factor in all the costs of repairs and maintainance you have to make on your own house in a year (which, when renting the landlord will have to pay) and you will probably find that renting is a fair bit cheaper.
I'd love to buy my own place, renting doesnt feel as good for sure, but theres no way Im saddling myself with a lifetime of dept to hand the seller a 150% profit just for sitting tight for the last 5 years!.
All just IMO
but this makes compelling reading! http://www.firsttimebuyerhelp.co.uk/.../ftbbeware.pdf On a repayment mortgage you dont pay the interest first then the actual amount borrowed, its a combined amount each month...so much pays the interest and so much the amount borrowed. so if you sell up after 5 yrs of the mortgage, you get money back from the sale of the house, you wouldnt get money of the landlord! So how can it be as good?
20 years of paying the bank (as you put it) £1500 per month for a house worth 200k now is 360000 in total(may be more or less depending on interest rate) and will probably be worth about 400k in 20 years!
To rent a 200k house is about 800 per month round here. So rent that for 20 years and thats £192000!!!
You save the £700 per month difference in a high interest acount for 20 years...that would net you probably about 130k as its taxable.
So you would have paid out 322k with rent and saving and only 130k of it is yours!!!!
I really dont see how you can compare renting to having a mortgage!
the fact that if you loose your job you get housing benifit SO if theres another jobs crisis like in the 80's then you wont be made homeless,,,,,,,, what about if the misus finds another bloke ect,,,,,,, she owns half of the place and so she wants they payment for it,,,,,,,,, you either sell OR you get ANOTHER morgage to pay her,,,,,,, thats assuming she dont get the rights to live there cause she has kids and children need a stable home as they are the real victims bollox
rent a place and then she actually gains the rent bill,,,,,,, double bonus IMO
and house prices AINT gonna be that high UNLESS the wages join it,,,,,,,, and they aint gonna go that high as lots of companys are tightening there belts this year for some reason,,,,,,,,,, lack of spending as thats down,,,,,, why would that be i wonder and where does that leave us
my advice is to jump ship and invest the remaining im property OR take the cash and leave the country like alot of people are doing,,,,,,, thats helping us big time too when you all retire to spain
lets be honest if the houses where worth 100k rather that 200k the would would have MORE spending to go round,,,,,,,, thats what we need in this world not taking all of it and giving it to 1 person
14-01-2006 | 07:46 PM
#91
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From: Northants
Originally Posted by Lee Reynolds
Im sorry but thats wrong
On a repayment mortgage you dont pay the interest first then the actual amount borrowed, its a combined amount each month...so much pays the interest and so much the amount borrowed. so if you sell up after 5 yrs of the mortgage, you get money back from the sale of the house, you wouldnt get money of the landlord! So how can it be as good?
20 years of paying the bank (as you put it) £1500 per month for a house worth 200k now is 360000 in total(may be more or less depending on interest rate) and will probably be worth about 400k in 20 years!
To rent a 200k house is about 800 per month round here. So rent that for 20 years and thats £192000!!!
You save the £700 per month difference in a high interest acount for 20 years...that would net you probably about 130k as its taxable.
So you would have paid out 322k with rent and saving and only 130k of it is yours!!!!
I really dont see how you can compare renting to having a mortgage!
I don't disagree with you for one second
- but your assuming prices are not going to drop in the short term. I'm saying that they are currently very overvalued compared to the historic trend and I banking on them correcting over the next few years back to trend. This would be a 20-30% drop (thus nulling out 40-60% of the increase we've seen).In normal circumstances renting does not make sense at all but these are very abnormal times!.
Edited to say! good luck with getting your self build off the ground!!, i have a few mates who are doing the same, top move!
14-01-2006 | 07:51 PM
#92
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From: Im behind you
and rent a nice place and live off that money till i die. Whatever is left the kids can have
when your 55 and renting a place all you life with no cash you could have enjoyed your life and then retire with housing benifit and money to live off from a pention that you been paying TOP money into and have a cash lump sum,,,,,, my old man has jsut retired and hes work policy was for every quid you put in they give another 2 quid,,,,,,,, he was paying the max he could for the last 12 years and he retired EARLY and he got a cash pay out and hes got a a decent income and cause hes a old fart hes got fuck all he buys except arsenal season tickets each year
he also bought his place years ago but he wants to buy a nice bunglaow and he cant as they sooo expensive he may as well stay put
you idea IS a good one but you have a advantage of being a early starter,,,, those days are over as you well know in most locations so for people thinking that now is pointless
inflation is also a pointless example as if everything goes up 200% then its the same thing with new numbers
14-01-2006 | 07:53 PM
#93
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From: south yorkshire
Ginge you have lost me!
Jump ship and invest the remaining in property? WTF is buying a house if it isnt invested! Or do you mean buy a house and rent it out? While thats ok but we would still need to rent somewhere ourselves so thats not good....
XRTypeRS
Well, TBH mate, i think you banking on house prices crashing is a bigger gamble than property owners banking on them hiking!!! But we will have to see! I think it will only be shitholes where house prices drop and who would want to buy one somewhere like that!
Jump ship and invest the remaining in property?
WTF is buying a house if it isnt invested! Or do you mean buy a house and rent it out? While thats ok but we would still need to rent somewhere ourselves so thats not good....XRTypeRS
Well, TBH mate, i think you banking on house prices crashing is a bigger gamble than property owners banking on them hiking!!! But we will have to see! I think it will only be shitholes where house prices drop and who would want to buy one somewhere like that!
14-01-2006 | 07:58 PM
#94
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From: south yorkshire
Originally Posted by b19bal
and rent a nice place and live off that money till i die. Whatever is left the kids can have
when your 55 and renting a place all you life with no cash you could have enjoyed your life and then retire with housing benifit and money to live off from a pention that you been paying TOP money into and have a cash lump sum,,,,,, my old man has jsut retired and hes work policy was for every quid you put in they give another 2 quid,,,,,,,, he was paying the max he could for the last 12 years and he retired EARLY and he got a cash pay out and hes got a a decent income and cause hes a old fart hes got fuck all he buys except arsenal season tickets each year
he also bought his place years ago but he wants to buy a nice bunglaow and he cant as they sooo expensive he may as well stay put
you idea IS a good one but you have a advantage of being a early starter,,,, those days are over as you well know in most locations so for people thinking that now is pointless
inflation is also a pointless example as if everything goes up 200% then its the same thing with new numbers
).
14-01-2006 | 08:05 PM
#96
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From: Northants
Originally Posted by Lee Reynolds
Ginge you have lost me!
Jump ship and invest the remaining in property? WTF is buying a house if it isnt invested! Or do you mean buy a house and rent it out? While thats ok but we would still need to rent somewhere ourselves so thats not good....
XRTypeRS
Well, TBH mate, i think you banking on house prices crashing is a bigger gamble than property owners banking on them hiking!!! But we will have to see! I think it will only be shitholes where house prices drop and who would want to buy one somewhere like that!
Jump ship and invest the remaining in property?
WTF is buying a house if it isnt invested! Or do you mean buy a house and rent it out? While thats ok but we would still need to rent somewhere ourselves so thats not good....XRTypeRS
Well, TBH mate, i think you banking on house prices crashing is a bigger gamble than property owners banking on them hiking!!! But we will have to see! I think it will only be shitholes where house prices drop and who would want to buy one somewhere like that!
Quality houses may not be as effected but the problem is if there is noone buying at the bottom any more (FTBs at nearly non existant and investors pulling out to make more returns elsewhere) theres no chain to keep the "ladder" moving. If FTBs overstretch themselves they will never be able to upgrade to the nicer places and so people higher up will not be able to sell. There will always be people who must sell due to divorce, death etc and so these will have to reduce prices to sell, hence lowering them.
Its just IMO tho mate, I only wish good luck to you, your house is your home, you not looking to make a quick buck and you're living comforably within your means
. I just worry about some people who are totally overstretching themselves now as if prices do drop and interest rates to rise they could be in a mess and no-one wants to see anyone have to go though that
14-01-2006 | 08:05 PM
#97
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From: Im behind you
lee rod bought a cheep property though and he has a very highly skilled job with big money
how many OTHER pensioners are living in a nice expensive house and living comfortably on there 100 quid a week pension
lee you got cash to enjoy live cause you started early,,,,, people now are starting with a morgage AND a loan to 110% of the amount , they struggle to get the cash and have no money,,,, theres a few on this forum im sure too, they cant afford to enjoy life cause of there bills
i think the ikea advert is a good way of explaining it,,,,, pay less, work less
thats my way of life, do a job i enjoy and get a wage thats enough to keep me happy,,,,, i could walk out of my job at any point and not worry about bills for 6 months
how many out there would have to get a job urgent or sell the cars ect to get by
that was my point,,,,,,,,, its a good thing for the lot that are there,,, its shite for the people in the last 2 years living in busy citys
lee you think you could sell your place and move to london and enjoy life,,,,,,,,,, or do you think you might struggle a little and not find the point when you got more where you are
how many OTHER pensioners are living in a nice expensive house and living comfortably on there 100 quid a week pension
lee you got cash to enjoy live cause you started early,,,,, people now are starting with a morgage AND a loan to 110% of the amount , they struggle to get the cash and have no money,,,, theres a few on this forum im sure too, they cant afford to enjoy life cause of there bills
i think the ikea advert is a good way of explaining it,,,,, pay less, work less
thats my way of life, do a job i enjoy and get a wage thats enough to keep me happy,,,,, i could walk out of my job at any point and not worry about bills for 6 months
how many out there would have to get a job urgent or sell the cars ect to get by
that was my point,,,,,,,,, its a good thing for the lot that are there,,, its shite for the people in the last 2 years living in busy citys
lee you think you could sell your place and move to london and enjoy life,,,,,,,,,, or do you think you might struggle a little and not find the point when you got more where you are
14-01-2006 | 08:15 PM
#99
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From: Im behind you
Originally Posted by Lee Reynolds
oh and im not an early starter, i bought my first house less than 3 years ago!
before i met nikki i was gonna buy a house in newton aycliffe near darlington in 2001 that was a brand new 3 bed room house with a garage for the pricey sum of guess what,,,,,,,,,,,,,,,,,,,,,,,,,,,, and the reason was cause all i needed was a 3% deposit but i had access to 10% already but i met nikki and so we never and instead we had fun ect ignoring bills
my cousin bought another house on the same grove for the same amunt and hes place is worth twice as much and he can still enjoy life on a 18k a year job
the price i was gonna buy the house for was 37k,,,,,,,,, ive just payed of 20k of debt in the last 2 years and i couldnt belive it,,,,, at that time a 1 bedroom flat was average of 80k in london and wasnt a nice new built place like was on offer for half the ammount
so the last 3 years in most locations is still good as they the ones that the prices are still going up,,,,,,,,, the poor sods like richpon ect are buying in the wrong locations but they aint got a choice
so to sumerise what i mean to say is that in yorkshire you can hearn 20k a year and have a 3 bedroom house and have a nice life,,,,,,,,,
in london you need 40k to be worse off due to all the other bills such as insurance, car tax,parking fees and the fact you still have to get a train to fucking work
thats the option for the local london residents and my hat TRUELY goes out to people like westy and pon who manage to get on the ladder by fighting for it,,,,,,,,,, when theres a better option if he spread his looking about
14-01-2006 | 08:22 PM
#100
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From: Im behind you
im not agueing at all, me and lee cant go out as we got morgages to pay so we will have to drink or stellas and type on the PC about how much better off we are
thats a very very good point,,,,, the only reason it aint happening at the moment is cause of the fact where over crowded aswell so theres a housing shortage too that helps em out ( reason why we bought)
but you got the right idea,,,,,,,,,, hope your paitent OR find other ways to invest and get a feeling for owning something,,,,,,, a holiday home in another country is always a good option for a long term gain option, houses in malta are rising bigger that over here and theres sun and cossie parts fetch more cash,,,,,,,,,,, why do i still live here
Quality houses may not be as effected but the problem is if there is noone buying at the bottom any more (FTBs at nearly non existant and investors pulling out to make more returns elsewhere) theres no chain to keep the "ladder" moving. If FTBs overstretch themselves they will never be able to upgrade to the nicer places and so people higher up will not be able to sell. There will always be people who must sell due to divorce, death etc and so these will have to reduce prices to sell, hence lowering them
thats a very very good point,,,,, the only reason it aint happening at the moment is cause of the fact where over crowded aswell so theres a housing shortage too that helps em out ( reason why we bought)
but you got the right idea,,,,,,,,,, hope your paitent OR find other ways to invest and get a feeling for owning something,,,,,,, a holiday home in another country is always a good option for a long term gain option, houses in malta are rising bigger that over here and theres sun and cossie parts fetch more cash,,,,,,,,,,, why do i still live here
14-01-2006 | 08:34 PM
#101
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From: south yorkshire
Originally Posted by XRTypeRS
Originally Posted by Lee Reynolds
Ginge you have lost me!
Jump ship and invest the remaining in property? WTF is buying a house if it isnt invested! Or do you mean buy a house and rent it out? While thats ok but we would still need to rent somewhere ourselves so thats not good....
XRTypeRS
Well, TBH mate, i think you banking on house prices crashing is a bigger gamble than property owners banking on them hiking!!! But we will have to see! I think it will only be shitholes where house prices drop and who would want to buy one somewhere like that!
Jump ship and invest the remaining in property?
WTF is buying a house if it isnt invested! Or do you mean buy a house and rent it out? While thats ok but we would still need to rent somewhere ourselves so thats not good....XRTypeRS
Well, TBH mate, i think you banking on house prices crashing is a bigger gamble than property owners banking on them hiking!!! But we will have to see! I think it will only be shitholes where house prices drop and who would want to buy one somewhere like that!
Quality houses may not be as effected but the problem is if there is noone buying at the bottom any more (FTBs at nearly non existant and investors pulling out to make more returns elsewhere) theres no chain to keep the "ladder" moving. If FTBs overstretch themselves they will never be able to upgrade to the nicer places and so people higher up will not be able to sell. There will always be people who must sell due to divorce, death etc and so these will have to reduce prices to sell, hence lowering them.
Its just IMO tho mate, I only wish good luck to you, your house is your home, you not looking to make a quick buck and you're living comforably within your means
. I just worry about some people who are totally overstretching themselves now as if prices do drop and interest rates to rise they could be in a mess and no-one wants to see anyone have to go though that But i agree it is hard for 1st time buyers now...even second! Good luck in whatever you decide!
14-01-2006 | 08:36 PM
#102
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From: south yorkshire
Originally Posted by b19bal
im not agueing at all, me and lee cant go out as we got morgages to pay so we will have to drink or stellas and type on the PC about how much better off we are
thats a very very good point,,,,, the only reason it aint happening at the moment is cause of the fact where over crowded aswell so theres a housing shortage too that helps em out ( reason why we bought)
but you got the right idea,,,,,,,,,, hope your paitent OR find other ways to invest and get a feeling for owning something,,,,,,, a holiday home in another country is always a good option for a long term gain option, houses in malta are rising bigger that over here and theres sun and cossie parts fetch more cash,,,,,,,,,,, why do i still live here
Quality houses may not be as effected but the problem is if there is noone buying at the bottom any more (FTBs at nearly non existant and investors pulling out to make more returns elsewhere) theres no chain to keep the "ladder" moving. If FTBs overstretch themselves they will never be able to upgrade to the nicer places and so people higher up will not be able to sell. There will always be people who must sell due to divorce, death etc and so these will have to reduce prices to sell, hence lowering them
thats a very very good point,,,,, the only reason it aint happening at the moment is cause of the fact where over crowded aswell so theres a housing shortage too that helps em out ( reason why we bought)
but you got the right idea,,,,,,,,,, hope your paitent OR find other ways to invest and get a feeling for owning something,,,,,,, a holiday home in another country is always a good option for a long term gain option, houses in malta are rising bigger that over here and theres sun and cossie parts fetch more cash,,,,,,,,,,, why do i still live here
14-01-2006 | 08:39 PM
#103
just finding my feet
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From: Im behind you
you been watching "I robot"
actually i aint going out as i find it more interesting chilling in the house with a beer and then go on bender when theres no work for a few days
maybe im just becoming a old fart
actually i aint going out as i find it more interesting chilling in the house with a beer and then go on bender when theres no work for a few days
maybe im just becoming a old fart
14-01-2006 | 08:41 PM
#104
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From: south yorkshire
Ginge
Your info about yorkshire isnt correct. The prices up North have gone up in vast amounts to keep up with the rest of the country over the last few years. A lot of southerners were buying up here to invest and rent out...which was one reason it started to rise!
Its happened up here just like down there! One thing i do agree on is we get less money up here, so yeah houses are cheaper and cost of living is.
Put it this way, the house i live in now has sold for 140k, we paid 85k 2.5 years ago, and about a year before that it was worth about 40k. So in 3. to 4 years they have gone up about 3 times as much(3 times as dont forget there is profit on my house due to renovation), and that same for all around me too!!!
Your info about yorkshire isnt correct. The prices up North have gone up in vast amounts to keep up with the rest of the country over the last few years. A lot of southerners were buying up here to invest and rent out...which was one reason it started to rise!
Its happened up here just like down there! One thing i do agree on is we get less money up here, so yeah houses are cheaper and cost of living is.
Put it this way, the house i live in now has sold for 140k, we paid 85k 2.5 years ago, and about a year before that it was worth about 40k. So in 3. to 4 years they have gone up about 3 times as much(3 times as dont forget there is profit on my house due to renovation), and that same for all around me too!!!
14-01-2006 | 08:42 PM
#105
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From: south yorkshire
Originally Posted by b19bal
you been watching "I robot"
actually i aint going out as i find it more interesting chilling in the house with a beer and then go on bender when theres no work for a few days
maybe im just becoming a old fart
actually i aint going out as i find it more interesting chilling in the house with a beer and then go on bender when theres no work for a few days
maybe im just becoming a old fart
14-01-2006 | 08:51 PM
#106
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From: southampton
£795 a month one year left ov the fixed so can get it a couple lower than that didn't get much choices ov mortages as was a firts time buyer no deposit (and thats the cossies fault )
didn't get much choices ov mortages as was a firts time buyer no deposit (and thats the cossies fault )
14-01-2006 | 08:54 PM
#107
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From: Im behind you
lee hope you see the point i wa making about property though, you gained the ripple effect and when that happen was also the same time the net got really big and so you dont need to be paying silly rates for the city and not have a place for clients to park,,,,,,,,,, lots of businesses as far as halifax running smooth and the people pop into london 2 to 3 times a week,,,, in return they get a nicer standard of living with less people skimming there wages so they need more cash
we are in the process of sorting a place to live near oxford where the misus dad lives as the only reason we live here is cause its convinient and cheep,,,,,,, but we hardly spend any real cash these days and we now live of chinese and hardly leave the house and we dont need to travel far as we got a 24 hour super market owned by romanians so all there prices are cheeper than tescos
but for the sake of our litle girl we need to make a break as it aint a place to grow up in
we are in the process of sorting a place to live near oxford where the misus dad lives as the only reason we live here is cause its convinient and cheep,,,,,,, but we hardly spend any real cash these days and we now live of chinese and hardly leave the house and we dont need to travel far as we got a 24 hour super market owned by romanians so all there prices are cheeper than tescos
but for the sake of our litle girl we need to make a break as it aint a place to grow up in
14-01-2006 | 09:12 PM
#108
Professional Waffler
Joined: May 2003
Posts: 25,712
Likes: 127
From: south yorkshire
Ginge i do see where ya coming from yes!
What i dont agree on is Rent V's Buying! I still think it is dead money! Yes ill rent when im older but it wont bother me then!
ya dont know how things will pan out in life, but its good to have some kind of plan. My house is my pension. I dont have one as i think they are pathetic TBH! So while I/We are young we are going to put as much as we can into our houses(s) but not too much so we have nothing left to enjoy ourselves. At the mo, we can go out whenever we like, buy whatever we like(within sensible reason) and have good holidays!
What i dont agree on is Rent V's Buying! I still think it is dead money! Yes ill rent when im older but it wont bother me then!
ya dont know how things will pan out in life, but its good to have some kind of plan. My house is my pension. I dont have one as i think they are pathetic TBH! So while I/We are young we are going to put as much as we can into our houses(s) but not too much so we have nothing left to enjoy ourselves. At the mo, we can go out whenever we like, buy whatever we like(within sensible reason) and have good holidays!
14-01-2006 | 09:15 PM
#109
just finding my feet
Joined: May 2003
Posts: 41,052
Likes: 2
From: Im behind you
Originally Posted by Lee Reynolds
Ginge i do see where ya coming from yes!
What i dont agree on is Rent V's Buying! I still think it is dead money! Yes ill rent when im older but it wont bother me then!
ya dont know how things will pan out in life, but its good to have some kind of plan. My house is my pension. I dont have one as i think they are pathetic TBH! So while I/We are young we are going to put as much as we can into our houses(s) but not too much so we have nothing left to enjoy ourselves. At the mo, we can go out whenever we like, buy whatever we like(within sensible reason) and have good holidays!
What i dont agree on is Rent V's Buying! I still think it is dead money! Yes ill rent when im older but it wont bother me then!
ya dont know how things will pan out in life, but its good to have some kind of plan. My house is my pension. I dont have one as i think they are pathetic TBH! So while I/We are young we are going to put as much as we can into our houses(s) but not too much so we have nothing left to enjoy ourselves. At the mo, we can go out whenever we like, buy whatever we like(within sensible reason) and have good holidays!
you could rent a place for 5 years and in that time beable to invest in a business of your own and may even be better off in the future
most important thing in life is LIVING and being happy,,,,,,,,, not struggling to pay the bills and taking a packed lunch to work
14-01-2006 | 09:19 PM
#110
Professional Waffler
Joined: May 2003
Posts: 25,712
Likes: 127
From: south yorkshire
But you can buy a house for a little more than you can rent one for tho bal.
Cant agree with ya mate sorry
And TBH, if money was so tight, i would do without the nice things for a few years to buy a house and get on the ladder rather than rent! I really done like renting!
Cant agree with ya mate sorry
And TBH, if money was so tight, i would do without the nice things for a few years to buy a house and get on the ladder rather than rent! I really done like renting!
14-01-2006 | 09:57 PM
#113
Guest
Posts: n/a
Originally Posted by Lee Reynolds
Originally Posted by * Rudey *
anybody looked into self builds? timber framed houses youd be bloody shocked at what you could build for 200k, i,ll be building my own when the times right without a doubt
14-01-2006 | 11:32 PM
#114
Regular Contributor
Joined: Jun 2004
Posts: 297
Likes: 0
From: If you know me, you know!
my payments £1849 pm doh! £300k mortgage though, House worth £425,000, fixed at 4.45% fully flexible for 2 years. Good deal I know, but hey its what I do for a living!.
Rich
Rich
14-01-2006 | 11:38 PM
#115
Professional Waffler
Joined: May 2003
Posts: 25,712
Likes: 127
From: south yorkshire
Originally Posted by * Rudey *
Originally Posted by Lee Reynolds
Originally Posted by * Rudey *
anybody looked into self builds? timber framed houses youd be bloody shocked at what you could build for 200k, i,ll be building my own when the times right without a doubt
Down under
15-01-2006 | 12:00 AM
#116
PassionFord Regular
Joined: May 2003
Posts: 361
Likes: 0
From: Essex!
sorry to butt in on the debate etc....
me and the missus are lookin to buy a place around essex just outside or inside the M25 - Romford, Thurrock are our main choices, chafford hundred development being the most likely and affordable.
we are gonna need to borrow about £170 but it depends if the bank will let us borrow it
i knwo we can afford it, although its gonna be a shock to the system as at the moment we are saving for the deposit, but at the same time, we are spending the rest of our money like water!
so who has a mortgage with what company?
me and the missus are lookin to buy a place around essex just outside or inside the M25 - Romford, Thurrock are our main choices, chafford hundred development being the most likely and affordable.
we are gonna need to borrow about £170 but it depends if the bank will let us borrow it
i knwo we can afford it, although its gonna be a shock to the system as at the moment we are saving for the deposit, but at the same time, we are spending the rest of our money like water!
so who has a mortgage with what company?
15-01-2006 | 12:16 PM
#117
just finding my feet
Joined: May 2003
Posts: 41,052
Likes: 2
From: Im behind you
Originally Posted by FingerZ!
sorry to butt in on the debate etc....
me and the missus are lookin to buy a place around essex just outside or inside the M25 - Romford, Thurrock are our main choices, chafford hundred development being the most likely and affordable.
we are gonna need to borrow about £170 but it depends if the bank will let us borrow it
i knwo we can afford it, although its gonna be a shock to the system as at the moment we are saving for the deposit, but at the same time, we are spending the rest of our money like water!
so who has a mortgage with what company?
me and the missus are lookin to buy a place around essex just outside or inside the M25 - Romford, Thurrock are our main choices, chafford hundred development being the most likely and affordable.
we are gonna need to borrow about £170 but it depends if the bank will let us borrow it
i knwo we can afford it, although its gonna be a shock to the system as at the moment we are saving for the deposit, but at the same time, we are spending the rest of our money like water!
so who has a mortgage with what company?
if you cant save for a deposit then how in all honesty can you buy a place an pay a morgage and still pay for repairs ect if there was any,,,,,,, not to mention actually furnishing the place
not a dig at you but from a real point of veiw if you cant spend 1 year saving a 10k deposit then how do you think you will cope when you buy a place
all that happens is alot of people buy a place, strugle foa year or so and then get so stressed and on some ocasions they stray from the nest as they balme the other half for the being tied in and wanna move home and ejoy life like they used to and then the house goes for sale,,,,,, they sell up and at the moment they manage to clear the debts with the extra they make of the place,,,,,,,,,,,, but they actually loose money just like renting and then when they are more stable they buy a place when they are actually bored of the clubbing ect and actuall enjoy going for a meal once a month rather than clubbing
also when you get older you wage gets beter ect
just think what could happen if you ever had a kid on the way too,,,,,, thats ment to be a happy time not a " oh fuck your prenant,,,, should we keep it" time
i know im negative but theres soo much stress in house buying that i dont think its worth in round london UNLESS you are financially secure
15-01-2006 | 01:05 PM
#119
I've found that life I needed.. It's HERE!!
Joined: May 2003
Posts: 1,067
Likes: 0
From: Manchester
Originally Posted by b19bal
Originally Posted by FingerZ!
sorry to butt in on the debate etc....
me and the missus are lookin to buy a place around essex just outside or inside the M25 - Romford, Thurrock are our main choices, chafford hundred development being the most likely and affordable.
we are gonna need to borrow about £170 but it depends if the bank will let us borrow it
i knwo we can afford it, although its gonna be a shock to the system as at the moment we are saving for the deposit, but at the same time, we are spending the rest of our money like water!
so who has a mortgage with what company?
me and the missus are lookin to buy a place around essex just outside or inside the M25 - Romford, Thurrock are our main choices, chafford hundred development being the most likely and affordable.
we are gonna need to borrow about £170 but it depends if the bank will let us borrow it
i knwo we can afford it, although its gonna be a shock to the system as at the moment we are saving for the deposit, but at the same time, we are spending the rest of our money like water!
so who has a mortgage with what company?
if you cant save for a deposit then how in all honesty can you buy a place an pay a morgage and still pay for repairs ect if there was any,,,,,,, not to mention actually furnishing the place
15-01-2006 | 01:14 PM
#120
just finding my feet
Joined: May 2003
Posts: 41,052
Likes: 2
From: Im behind you
simon you dont just decide to move out 1 day
how many young buyers actually STILL have there first place,,,,,,,, i know i dont have mine
look at the payment times and cash for a 10% and a no deposit morgage
also how can you honestly go from no debt to a 170k debt and not strugle with the concept of what the money is like IF YOU HAVE NEVER BEEN ABLE TO SAVE ????
its not bollox mate its a fact and tbh 10% SHOULD be a bare minimum then if people DO split up or just decide they RUSHED into it then they dont just pay back or walk out with nothing but stress for months
seriously think about it,,,,,,,, dont think of what there gonna be worth BUT the actual payments on a 170k morgage for a first time buyer
mines over 25 years and we got given a deposit as we couldnt afford the morgage as i was working at halfords on 14k a year at the time and the misus wasnt working
our place was around the 60k mark in total and 1 thing we DONT stress about is bills and tbh thats the only good thing i can say i have done
i would HATE to imagine what a 170k morgage payment is, then the council tax and then then general bills and furnishing
how many young buyers actually STILL have there first place,,,,,,,, i know i dont have mine
look at the payment times and cash for a 10% and a no deposit morgage
also how can you honestly go from no debt to a 170k debt and not strugle with the concept of what the money is like IF YOU HAVE NEVER BEEN ABLE TO SAVE ????
its not bollox mate its a fact and tbh 10% SHOULD be a bare minimum then if people DO split up or just decide they RUSHED into it then they dont just pay back or walk out with nothing but stress for months
seriously think about it,,,,,,,, dont think of what there gonna be worth BUT the actual payments on a 170k morgage for a first time buyer
mines over 25 years and we got given a deposit as we couldnt afford the morgage as i was working at halfords on 14k a year at the time and the misus wasnt working
our place was around the 60k mark in total and 1 thing we DONT stress about is bills and tbh thats the only good thing i can say i have done
i would HATE to imagine what a 170k morgage payment is, then the council tax and then then general bills and furnishing