08-01-2014, 03:14 PM
(08-01-2014, 01:03 PM)C.A.R. Wrote: I'm not so obsessed with the idea of getting a mortgage and 'my own place' any more. Whilst it would be nice, it's quite restricting in that you're kind of stuck with the same place and its value could go up or down...Realistically there is now chance of house prices going down, even in the recession they didn't really drop and while our population is increasing by about a million people a year without a matching increase in the supply of housing then places are always going to be in ever greater demand.
Rent is currently £715, always looking for somewhere cheaper...
You live about as far out of london as I don in a similar commuter town and your rent is almost £100 more a month than my mortgage. I know your flat has 2 bedrooms but I've got a good sized garden, 3 parking spaces and the house next door is 2 bedroom and worth about £20k more.
Finally Ill add that (according to zoopla) my house has gone up in value over £3k in the few months I've lived here. Thinking about it thats almost as big an increase in value as I've paid into my motrgage so I've almost been living here for free.
(08-01-2014, 01:12 PM)Grant Wrote: Saving at the moment for a deposit. Its a shit time to be buying a house. Yes these 5% deposit mortgages are good, but you need to be earning enough to make up the other 95% at 3.5x.
IMO they aren't, Its nice more people can get on the ladder but the the higher your LTV rate the higher intrest rate you tend to get and considering that most of what you pay is intrest the rate changes make a big difference. I've got 90% LTV but the good interest rates don't start till 80-85% LTV.