dothemaths Posted March 3, 2011 Share Posted March 3, 2011 according to property website Zoopla.co.uk Ahh, the penny drops. Thankfully its soo easy to get an interest only mortgage these days .... Quote Link to comment Share on other sites More sharing options...
Si1 Posted March 3, 2011 Share Posted March 3, 2011 Got a call from an Estate Agent yesterday, out of the blue, asking me about a property I went to view, in 2007 In Easby. Her records told her that I had rented it. I informed her the records were innacurate, and told her I was waiting for house prices to crash by over 50% so I could buy my first home. She completely agreed with me. maybe she wasn't really phoning you about the house know what i mean, nudge nudge Quote Link to comment Share on other sites More sharing options...
Van Posted March 3, 2011 Share Posted March 3, 2011 Except you ignore that even now, the opportunity cost of using your 40% deposit is actually quite high. See my post on the other thread. House over the road, buy at 335k, rent at 995pm. I can't afford to buy here however much I want to. What opportunity cost is that? The opportunity cost of watching your savings erode in real terms sitting in a savings account? As for the house, well clearly it is overpriced. OTOH the house I am buying could rent form £1300pm and I am paying £250k, and my mortgage interest payments at 80% LTV are going to be £700. Quote Link to comment Share on other sites More sharing options...
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