You can do a deal to move mind, all depends what is offered to you. Depends where you read and what you look its 50-50 at the moment about the rise etc, its all a risk really.Originally Posted by BellatorGero
You can do a deal to move mind, all depends what is offered to you. Depends where you read and what you look its 50-50 at the moment about the rise etc, its all a risk really.
VAT has gone up, interest has been at next to cock all for about 2yrs isnt it now? It can only go up, and what Ive been reading it will go up. Meaning me paying £730ish would go up to £1150. FOOOOOK THAD
Goes up 2.5% in 2011 to 20%
With them predicting 1million+ people will lose theyre jobs, bumping interest rates up is only going to make things worse, there will be so much debt, homeless and unemployed people it would take a life time for the economy to recover, it will go up just not any time soon.
Although ill have my hat on stand by should I need to eat it
People often (but obviously not all) lost their homes because they over-stretched themselves in the good times. Save up the biggest deposit you can and stay within your means.
Obviously if you don't want to move from a £300k home to a £140k home then you have an issue, but thats your lifestyle choice. I personally would go for the cheap home that I owned and indeed did.
I also started a long while back and bought a flat in Brighton when I was living in cheap subsidised Army accommodation which I then rented out. When I left the Army I then moved into a rented flat but kept the once I let out. I finally sold my flat in Brighton and just with the money I had made could afford to buy a house in Clitheroe when I got married but had very little cash as I was also just starting out in business.
Why dont you look at buying a small cheap place to let out ? At least you will have an asset you will be paying off. You could then look to buy something cheap in an area you may not have as your first choice to live yourself and thus keep your £300k property lifestyle ?
Last edited by Fightshop.Com; 30-06-2010 at 08:54 PM.
I duno if I would get the mortgage for a start, and for the buy to let, ya need 25% deposit. And you equally, if not more fucked if the rates go nuts arent ya?
How many ex squaddies are there on here!! I shoulda bought while I was in, and living in the block, but bit late for that now
To be honest if your worried about the risk as you are starting a business then instead of taking the plunge to buy now, start saving intensively for a big deposit. The bigger your deposit the less risk you will have. So just concentrate on that for the next few years.
I had a mortgage a few years back, sold up before the financial crisis. made decent profit (btw, I didnt know the crisis was coming, just a lucky bastard, or so I thought) looked for new bigger place, deposit wasnt big enough, then rented for a while, tried again, and in this time I got ccj for unpaid parking ticket, then bank said im best off either waiting it out a few years, or getting more deposit.. cant do more deposit, so stuck renting for now..
it isnt that bad, the place is bigger than what I would have for the same mortgage payments, and I aint got any agro of selling when I do wanna move, or move to a new area all together..
I'm a doctor in exercise the same way Dr Dre is in hip hop!
ive found it to be a lot cheaper to buy than rent, thats why im buying a flat now. i dont know whether to live in it or rent it out though, i can rent it out and make more than the mortgage costs by over £100 a month, which isnt amazing but the mortgage is only £42k in the first place. and thats with a proper repayments mortgage, not an interest only one
42k mortgage???? where on earth do you live? you cant even buy a pile of shit, flat that needs everything doing to it for that here lol
I'm a doctor in exercise the same way Dr Dre is in hip hop!
i live in this little place called the north. the flat is fully furnished too except a sofa
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