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About BrandNewDay

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  1. We have a subprime mortgage with deutsch bank... my husband went bankrupt when his small business failed. Now, he has a good job and a decent salary. So, it's not that we can't pay our mortgage. It's just that we have a record of getting in over our heads and are therefore a riskier investment than someone who hasn't. Our rate is 6.95% fixed for three years. It's not that bad, really. We bought a cheap house so the whole loan is only about £53,000.
  2. I'll play! I entered in the post code + 10 miles for where we're buying - Dumbarton. As the crow flies, there are some places within ten miles that are cheap. But, cars don't fly like crows and Port Glasgow is quite a distance away. 1 bedroom flat, offers over £19,000: http://www.rightmove.co.uk/viewdetails-890...=1&tr_t=buy 2 bedroom flat, offers over £24,000 http://www.rightmove.co.uk/viewdetails-890...=1&tr_t=buy 1 bedroom flat, offers over £25,995 http://www.rightmove.co.uk/viewdetails-137...=1&tr_t=buy In the Dumbarton post code (g82): 1 bedroom flat, offers over £44,000: http://www.rightmove.co.uk/viewdetails-574...=1&tr_t=buy 1 bedroom flat, offers over £47,500: http://www.rightmove.co.uk/viewdetails-873...=1&tr_t=buy 1 bedroom flat, offers over £48,500: http://www.rightmove.co.uk/viewdetails-164...=1&tr_t=buy
  3. English people are evil. Everybody knows that. Seriously, though - by "England" I could also include Edinburgh, but I mostly mean "people from the more prosperous south who can afford second homes. " Some of them are from elsewhere, but the majority of the ones I've met have been.... English. (I'm not Scottish, by the way.)
  4. I had the same question when I read that site.... I'm not saying it's NOT true, just that there's no reason to think that it's not all fiction because there's nothing but what the guy says.
  5. What's really funny is how many of them didn't quite understand how hard it is to get somebody to clean on Saturdays. They don't understand that, yes, you're going to have to pay a lot to get somebody to clean for four hours a week. I think it actually offends some of them that it costs at least £7 an hour. "Why should some woman with no qualifications be paid so much just to scrub a toilet?!" Um, because everybody needs a cleaner on Saturdays and there are more of you than there are of us, so stump up or shut up. I get £8-£10 an hour. I don't resent them, though. I may snigger when their castles drop out of the air, but I don't think they owe me anything more than a competive rate for my labor. We've bought a house down in the Glasgow area, and are happy with the price and location.
  6. I don't think our house will be a pension at all. I do hope it will be a HOME when we're old. At least it's not very big, so we're unlikely to be overwhelmed by it - until one of us gets to rickity to climb the stairs. I'm one of those people who is pessimistic about our retirement savings. I want us to put money into savings AS WELL AS our mortgage. I don't see the house as an asset we can sell, but as something we can have paid off and will provide us shelter.
  7. Have you done any reading on what to do to get pregnant? I mean, if you're OK with just letting what happens, happen, that's cool. But, if you're more keen than that, there are definitely ways to maximize your chances. I was required to take a class on Natural Family Planning before I got married (it's a Catholic thing. ) and we used that knowlege to great effect - preggers six weeks after the wedding! Best of luck to you!
  8. I hear a lot about 1 and 2-bd flats being snapped up in cities by BTL investors, but where we live (the Western Highlands) I think the primary problem is people from England buying second homes. Some of them come up to stay during holidays, but a lot of them rent them as self-catering holiday accomodation. I am familiar with a lot of them because I do cleaning on Saturday turnovers for a couple of them and was called by a lot of people needing someone. We live on a lane with 8 semi-detached 3bdroom cottages with family baths on the ground floor. Two of them are holiday cottages. We pay £500 a month rent. I think it could go for a tad more, maybe, if it were in very nice condition. It's not a rathole, but it's not top-notch and there are some frayed carpets and wallpaper. (This suits us as we have two small children.) I believe the house next to us sold for about £140,000 but it has an extension giving it two extra reception rooms. Still only a family bath on ground floor and the heating is by coal. The top bid actually came from a retired couple in Edinburgh who wanted to use it as a second home, but they sold to a family member with children... thank God! One of the two holiday cottages was bought for about £150,000 within the past year. It has a two-story extension, giving it four bedrooms, a large dine-in kitchen, extra sitting room, and a family bath upstairs as well as ensuite off the master bed downstairs. I was talking to the owner about possibly doing some cleaning for her on Saturdays, but she says they've only gotten about 12 bookings for the whole year. She said that they can't break even without at least 20 weeks of bookings. I'm not sure how that will pan out for her, but it wouldn't surprise me if she sold. From what I hear, a lot of these places are not getting the bookings. The hardest hit seem to be those that accomodate 6 or more people. One small cottage I know (sleeps four, max) is getting almost as many bookings as previous years. My husband works in a toursim-related business and he's noticed that the spending is lower, even though footfall remains high. Another acquaintance owns a tea room and she said that people are ordering small snacks, but not full meals. I think people aren't splashing out as lavishly on holidays as in the past. I also think that so many people think that it would be easy to buy a second home in the highlands with an eye to retiring here in a few years. In the meantime, they think they can rent it out as a holiday let and get their BTL tax break, etc. I suspect that the market is now very saturated with these properties at the exact time consumers are feeling more cautious. We can't even entertain the idea of buying even a very modest home up here - there truly aren't a lot of homes to be had. There's very little even on the market. So, we're buying a small ex-council house cheap down near Glasgow. Husband's commute will be longer, but I won't have to drive at all and we'll be near all the amenities and our mortgage will be much lower than our current rent. Fingers crossed that oil prices don't rapidly sky rocket - we can weather quite a bit, but if it gets bad enough, he'll have to find a job in Glasgow.
  9. Hello! Finally posting after lurking and waiting to be approved. Let's see... I'm an American married to a Brit, living in Scotland, have lived here for less than two years. We've got two kids and are buying our first house. Currently we rent a three-bedroom semi with a loch view. We're buying a two-bedroom ex-council mid terrace with a view of, well, more terraces. It was the cheapest house listed in the Glasgow area, but at least it's in good shape. It was really only possible, though, with a gift of £10,000 from the inlaws. God bless them. We get by by living simply and not having very high expectations. Pay cash for used cars and drive them into the ground, cook most meals from scratch, buy all our clothes at Asda, Tesco, and Primark. We get by, somehow. I consider myself a Stay-At-Home Mom, but I do a bit of house cleaning and such to pick up some cash for savings. We just make do on one income, so that makes us feel more secure: if something happens, I can contribute to the household income and help us stay afloat. I think there will be a fairly hard correction of the housing market. I don't expect us to end up in negative equity - we're putting down a 15% deposit, have a repayment mortgage, and I think the cheaper/low end of the scale will probably deflate less. However, even if it does happen, we're intending to stay in that house for a long time and it will all be OK in the end. All markets go up and down and we've got our eye on the goal that matters: having a home of our own for the long term. I worry more about oil prices and my husband's job being impacted by an economic downturn. He works in an industry that is related to tourism and luxury goods. They're noticing a difference in spending this season, that's for sure.
  10. We got really lucky - two boys. Having two kids of the same sex close together in age means that we can live in a 2-bedroom house.
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