i wanna house

if it wasn't for complicated family conections i would be back in the north west with a nice house and a small mortgage. But i wont be leaving my eldest son and his mother wont agree that he comes with me . If she could be persuaded to move north she would have to bring the father of her other child who would have to leave his daughter from a previous relationship... There isnt exactly cheaper options near here and its important to me that my eldest son lives near both his parents..... and we have to think about schools. Earning more is a real possibility, the broker chose to use my figures for 11-12 which are not entirely representative as i had 2 months with out working so as to be home with the new baby and help with the little one. (and my rates are about to increase ) I really havent put life on hold by living in rented accomadation as some on here love to advise . i have got on with it .. owning a house has never been a priority .. Like i said i was looking at possibilities because we really do need more space ( thats not to say the argument of painting the walls a color you like etc is not appealing)

i am sure they are ... Whatever happens regarding future house buying I wont be using that man anyway .. didn't trust him one bit.

so how long is it ? every year they are going to fall . some on here predict a slow edging down over ten years . if that's the case why would i be a greater fool , considering my situation to not buy now ?

well i am really confused now as the only rate above 5% he showed me was on a 10 year fixed rate for 22 years. 180000 came out at 0ver 1200 pm 964 was on a 33 year mortgae... I spoke to him to see what possibilities were open to me. Nothing more . We havent even looked at a single house.

indeed it does.

I am not determined to do anything . How do you figure that ? My last post was about pointing out the reality of rent where i live.

It was calculated daily .. if that helps / makes a difference. the rate was 3.49 % (?) (he showed me many option so that % might be off)

I understood it to mean that the mortgage market will be screwed .. no-one will be taking out mortgages so his industry of brokering mortgages will be bust

My ex has one very similar to the one posted. She pays 1200 pcm The LL says his last tenants were there for 2 years and the same for those before. My mate lived accross the road and has been friends with all the people who have lived there and the LL version adds up. In brighton these rents are have become the norm.

no doubt but that's what they go for and they dont hang around long. We are lucky in that our landlord lives in kent and hasn't cottoned on to the stupid rents here . if he does it might just force my hand

when are these big price drops ?

thats what he said .. well 11k

http://www.rightmove.co.uk/property-for-sale/property-33436348.html?premiumA=true http://www.rightmove.co.uk/property-to-rent/property-30664054.html

so if I pay off 10 K and now owe 170 K but the value has dropped by 20 k , i need to get a new loan of a 170 k to continue pay for a house that i paid 250k for but is now worth 230K ? Is that it ? Not sure i understand ..

well i the idea of the 33 year mortgage ( !!) ( i can honestly say i had never heard of such a thing till i spoke to this bloke ) is that as you pay it off you move products to a smaller term.

brighton

we could 'buy' one of those places and for three years be paying £964 a month plus £70 for minimum required insurances. after 3 years though i suppose its a gamble, although in our favor hopefully my partner will be able to be earning something too

no but he did suggest looking at houses priced around 270K and offering under 250

Ha Ha .. I only panic about the pension business when I think about it . I really am averse to borrowing a load of money . But i do think that owning our own house before retirement is a good idea . I do think that in the immediate future it would improve our living conditions. As for the timing ? well i dont know .. like you said it might me 50K less next year .. The baby can sleep in with us till then no problem .. but really time is not on my side

thats what he said.. brought up some figures too.

I am aware of that. Does that necessarily make it bad advice though ? I recently bought a car from a used car sales man, i think his advice as to the car we choose was pretty good. Thats not to say i didnt ask other people before buying that particular model and make.

quite probably .. have been doing so for for 5 years already. the real sticking point for me is renting a house more suitable to our needs or at least our wishes (which are pretty modest) is upwards of £1300 per month.

well yes , but the point of the thread was to discuss the advice i received and help me work out where i stand . no one is making you contribute, If you can call it that.

there is no pension plan. I would at least like to have a place to live by then.

i took it to mean the government wouldn't allow it as the consquences would be to catastrophic