a_j_mair
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Registered: 23rd Jan 04
Location: Scotland
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see my thread in off day
i hope so or no holidays this year 
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Daimo B
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Registered: 20th Mar 00
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quote:
Originally posted by Ojc
Is that strictly true Daimo? You also bought a house when 120% mortgages were avaliable.
Yes, why would I lie about it? IE cool points for CS?
I never got a 120% mortgage either.
We had little money, but saved hard for a while. Could have got a LOT more as well. But then we'd have had no money to live.
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Pop
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Registered: 8th May 03
Location: Reading
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Paul - I feel your pain. You pay more in rent than we do on our mortgage.
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Colin
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Registered: 4th Apr 02
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Onto the 2nd on now, managed to put 20% down from the sale of the 1st one which was 
Next move is going to be to get a one account when the fixed deals up & get it paid for as quick as possible.
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J da Silva
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Registered: 10th Apr 03
Location: The FACTory
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Colin what do you need to qualify for a one account? Faye is talking about getting one straight away but I didn't think you could.
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deano87
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Registered: 21st Oct 06
Location: Bedfordshire Drives: Ford Fiesta
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quote:
Originally posted by Paul_J
P.S. most people I know down south who are my age and have houses, have all had inheritance from dead relatives...
That's how every single one of them have got their deposit and on the ladder.
I think it's extremely hard in todays age to save up and move into a house, even more difficult if you choose to move out and rent until you can.
Northerners I'm not talking about you with your 70k houses
I agree - you nearly need £70k deposit down these parts
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Colin
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Registered: 4th Apr 02
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quote:
Originally posted by Paul_J
I think it's extremely hard in todays age to save up and move into a house, even more difficult if you choose to move out and rent until you can.
Northerners I'm not talking about you with your 70k houses
It is & it isnt. I got £21k from the sale of my flat, the other 7k we needed was saved up between us in just 5 months, so it is do-able if you try. Like you said if you saved for 2yrs or so you'd have a deposit, just most folk cant be arsed.
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deano87
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Registered: 21st Oct 06
Location: Bedfordshire Drives: Ford Fiesta
User status: Offline
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quote:
Originally posted by Colin
quote:
Originally posted by Paul_J
I think it's extremely hard in todays age to save up and move into a house, even more difficult if you choose to move out and rent until you can.
Northerners I'm not talking about you with your 70k houses
It is & it isnt. I got £21k from the sale of my flat, the other 7k we needed was saved up between us in just 5 months, so it is do-able if you try. Like you said if you saved for 2yrs or so you'd have a deposit, just most folk cant be arsed.
Or it doesn't work out like that if you earn £15k per annum. Then if you weren't leaving cheaply at the parents for that, you'd never save it.
I guess to get into the mentality of saving for a mortgage deposit, you have to save as much as it would cost to run that house i.e. mortgage, council tax, food & bills.
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Colin
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Registered: 4th Apr 02
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quote:
Originally posted by J da Silva
Colin what do you need to qualify for a one account? Faye is talking about getting one straight away but I didn't think you could.
I dont think theres any qualifying criteria except from having enough disposable income for it to be advantageous.
For example were currently pay back maybe 8-9k under normal mortgage terms, I wont be getting one until we can comfortably afford to pay 20-30k a year towards it.
Its a great product if its right for you. Theres still interest to be paid though & if your not going to be able to knock it off in 5-10yrs then I think theres better deals out there. Thats my understanding of it anyway!!
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Daimo B
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Registered: 20th Mar 00
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My mortgage per month sucks ass.....
Having seen what I've paid off in 4 years, is even worse....
Wish i'd known you mainly pay interest on the first few years. Bummer.
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Jules S
Premium Member
Registered: 24th Dec 03
User status: Offline
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quote:
Originally posted by VXR
My mortgage per month sucks ass.....
Having seen what I've paid off in 4 years, is even worse....
Wish i'd known you mainly pay interest on the first few years. Bummer.
I think it's almost 100% interest for the first few years.
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Daimo B
Member
Registered: 20th Mar 00
User status: Offline
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Not quite, but might as well be.
Needless to say, I don't bother looking at statements anymore as it winds me RIGHT up
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Half Pint
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Registered: 25th Mar 02
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i got a statement through the other day and in 4 months we've actually paid quiet a bit off, but then my interest is only .5%
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cunningham
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Registered: 25th May 05
Location: Lochore, Fife
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ive got a good few freinds that work in banking and the ammount of people with 300-400k house and BMWs and Audis sitting on the driveway cant pay any of ther bills and are in £5k overdrafts as long as your comfortable thats all that matters
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dannymccann
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Registered: 9th Aug 06
Location: Doddington, Lincolnshire
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Renting with missus after uni, her parents house was too small to live at (single bed small room ftl) and my parents are prude's so have issues with us being in the same room let alone sleeping the night together  So fuck that
Renting till we have a house deposit
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Daimo B
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Registered: 20th Mar 00
User status: Offline
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quote:
Originally posted by Half Pint
i got a statement through the other day and in 4 months we've actually paid quiet a bit off, but then my interest is only .5%
WTF, How did you muster that deal up.
Im at like 4.75%, its actually gone down by about £80pm, but not enough to make a difference.
Jealousy... Mind you, all that spare cash for a nice new bike???
PS, you going this weekend to the show at all?
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Half Pint
Member
Registered: 25th Mar 02
User status: Offline
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Got the day off on Friday.... tickets are all booked and sorting travel arrangements.
i actually need another daily helmet for the scooter but got a good deal on an Arai Astro Race in Aluminium = £160 delivered....
so will be going for a perv and to look at bikes, been looking around but cant decide what would be a good tourer?
oh and the .5% was @ staff rate i am yet to be fucked in the arse by the tax man!
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Daimo B
Member
Registered: 20th Mar 00
User status: Offline
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Bummer. Marry me and let me share your rate?
PM you about biking goodness.... 
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Ojc
Member
Registered: 14th Nov 00
Location: Reading: Drives : Clio 197
User status: Offline
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quote:
Originally posted by Colin
Onto the 2nd on now, managed to put 20% down from the sale of the 1st one which was
Next move is going to be to get a one account when the fixed deals up & get it paid for as quick as possible.
How did you save for your first flat? I know you didn't pay that much for it, something like 38k wasn't it
Again that's the major difference you are forgetting, you bought that flat when you could get 100% mortgages and made 20k in a short space of time meaning your jump up the ladder was quite significant, having that as a starting block for savings makes a massive difference. If you hadn't made that money think how long you would have been saving to move to your current house.
Even if you needed to save 10% to purchase your first flat it would have only been £3,800 deposit I think most people have that floating around.
It's all relative here.
[Edited on 02-02-2010 by Ojc]
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Colin
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Registered: 4th Apr 02
User status: Offline
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quote:
Originally posted by Ojc
quote:
Originally posted by Colin
Onto the 2nd on now, managed to put 20% down from the sale of the 1st one which was
Next move is going to be to get a one account when the fixed deals up & get it paid for as quick as possible.
How did you save for your first flat? I know you didn't pay that much for it, something like 38k wasn't it
Again that's the major difference you are forgetting, you bought that flat when you could get 100% mortgages and made 20k in a short space of time meaning your jump up the ladder was quite significant, having that as a starting block for savings makes a massive difference. If you hadn't made that money think how long you would have been saving to move to your current house.
Even if you needed to save 10% to purchase your first flat it would have only been £3,800 deposit I think most people have that floating around.
It's all relative here.
[Edited on 02-02-2010 by Ojc]
Deposit on the 1st one was 5% of something silly cheap. £36k or something, so yeah £1800-ish deposit.
What your saying is correct, however so many people will turn their nose up at having to 'make do' living in a council scheme next door to barry nae job for a few years, just to be able to get the growth from it to make the next move possible. I put up with the slum's & im laughing now about it!!
[Edited on 02-02-2010 by Colin]
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Ojc
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Registered: 14th Nov 00
Location: Reading: Drives : Clio 197
User status: Offline
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It's not a fact of turning your nose up, but imagine moving out to your first house surrounded by ethnic minoritys with no where to park and you being annoyed 24/7 just so you could move out?
I'd rather live at home than be stressed all the time wondering when I'll be getting a fatwa on my head.
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Half Pint
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Registered: 25th Mar 02
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both of you have valid points, colin you had to pay whilst surrounded by people who were supported by the state and put up with poor surroundings but to finanical gain.
Ollie... again why should you have to put up with such behavour when you are the person paying and working.
it all depends on what you want, what you expect and what you are willing to put up with?
some points you will need to trade off others, its all difficult balance as you'll have to make concessions somewhere!
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Daimo B
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Registered: 20th Mar 00
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The only thing I do wish though, is that i'd got on the market a decade earlier.
Say bought a house instead of doing up my car....
But meh, never mind, we live, learn, and I still had fun spending money I hardly had
Oh wait, nothings changed then
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Ojc
Member
Registered: 14th Nov 00
Location: Reading: Drives : Clio 197
User status: Offline
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This country is over crowded, period.
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mwg
Member
Registered: 19th Feb 04
Location: South Lakes
User status: Offline
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Another thing is I discount a small one bed flat immediately. You are screwed with regards to future planning be it either extension or starting a family and none of them have parking. And no one wants 1 bed flats round here so you'd never sell it. Yet some people are there saying to me I should buy something like that. Not a chance in hell. Just screwing myself over in the long run if I did.
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