Buying a house (and renting for the proles)

Preezy wrote:My mortgage is £826 p/m, the house next door (identical to ours) is £1,500p/m to rent.

This makes me feel smug

My mortgage is £435 :nod:

PostRe: Buying a house by **kommissarboris** » Wed Sep 20, 2017 5:50 pm

Green Gecko wrote:Just never grow up in middle class coastal England where there are "good schools" that dress you like nazis. It's OK if you're willing to exile yourself but fam and stuff.

Having said that my brother is better off in Kyoto. In fact you're probably better off anywhere than here where they still speak English, or some mangled form of it.

ha yeah.

I grew up in a working class area, council estate gooseberry fool hole, but according to the government bands I'm now middle class due to my PC and salary, who knew, I think I should start reading broadsheets and drinking gin.

To rent my house is double the mortgage, I rented this pace for a year before buying, it was £600 a month.

Hexx wrote:
Preezy wrote:My mortgage is £826 p/m, the house next door (identical to ours) is £1,500p/m to rent.

This makes me feel smug

My mortgage is £435

Try £220.00 a month :toot:

I do live up north though :dread:

£1350 a month here.

And we're still renting when the renovation work is being done in our new place :dread:

Preezy wrote:My mortgage is £826 p/m, the house next door (identical to ours) is £1,500p/m to rent.

This makes me feel smug

I know the feeling houses round my road I've seen rent for 3 or 4 times what I pay for smaller places than mine.

€1070 a month, 20yr mortgage, just 19years left :dread:

House price has gone up €60k in a year tho. :datass:

Last edited by Squinty on Thu Sep 21, 2017 9:51 am, edited 1 time in total.

£269. It's pretty nice, I can still save if I'm careful with money.

Not sure what the value of the place is. I think the mortgage is 25 years. I hope to get it paid off well before that if things go well.

Photek wrote:€1070 a month, 20yr mortgage, just 19years left

House price has gone up €60k in a year tho.

Got 33 years left on mine :dread:

You're only young I presume I'm 40! I'll be 60 when the house is paid off, which isn't bad really. Could have gotten 30 year one but I want to enjoy some retirement!

You will likely pay it off quicker. The first 2 years are always like "strawberry float how will I ever afford this" and then the value goes up, the loan goes down and you get your breathing room.

I'll be 50 when mortgage paid off at current rates - but try to make maximum over payments each year.

I love alone though so it's only an ickle £180-200k (right now) jobby.

Hexx wrote:
I love alone though

Dual wrote:
Hexx wrote:
I love alone though

...

Photek wrote:You're only young I presume I'm 40! I'll be 60 when the house is paid off, which isn't bad really. Could have gotten 30 year one but I want to enjoy some retirement!

I'd like to get a house so I think I'll need to go for (what I believe to be is) Japanese style mortgaging where I can hand over my mortgage for my children to pay off when I die. I need to get a job, save up around £200k as a deposit for a two-bed house in London and then start making some kids but, hey, I'm sure it'll all pan out soon.

£432 a month, 18 years left.

Before we had the baby I was overpaying £100 a month to gain more equity, but that’s been cutback to £10 a month since he was born. :lol:

Photek wrote:You're only young I presume I'm 40! I'll be 60 when the house is paid off, which isn't bad really. Could have gotten 30 year one but I want to enjoy some retirement!

Yeah am 30 next year, was able to get a 40 year when we took it out due to age.

Mine's £494/month. I've been overpaying by £500/month for about three and a half years I think, so I've been making good progress on getting the term reduced, but it's still something like 22 years.

The five year fix is up in June next year and I'm planning on moving into a house afterwards. Just gotta hope the BoE doesn't increase interest rates until after I lock in to another fix, especially as I've been stuck on 3.89% throughout this entire period of record-breaking low interest rates!

YouTube

We now have 3 probate valuations coming in. Really hope this viewing on Sunday is as good as hoped because this doesn't look good at all.

I mean who gets 3 valuations on a rental property and doesn't think about selling it and getting it over with?

God I hate moving every 2/3 years.. although some people buy that often. :lol:

Green Gecko wrote:We now have 3 probate valuations coming in. Really hope this viewing on Sunday is as good as hoped because this doesn't look good at all.

I mean who gets 3 valuations on a rental property and doesn't think about selling it and getting it over with?

God I hate moving every 2/3 years.. although some people buy that often.

Absolutely. You have the obvious hassle of moving all your stuff but buying and selling is just the worst. Now it's over I'm so glad we used help to buy as it allowed us to jump a notch on the ladder and forego the horrendous process again for some time.

Errkal wrote:
Photek wrote:You're only young I presume I'm 40! I'll be 60 when the house is paid off, which isn't bad really. Could have gotten 30 year one but I want to enjoy some retirement!

Yeah am 30 next year, was able to get a 40 year when we took it out due to age.

Didn't know you could get 40year mortgages, actually not sure you can over here.

Buying a house (and renting for the proles)

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