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mspL4

Well, That's All Folks

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Hey HPC-ers!

Just thought I'd let you all know that after being a keen spectator and sometimes contributor to this site for the past 6 years I've finally bitten the bullet and bought a place.

I'd like to Thank You all for keeping me sane and preventing me from buying into an overpriced bubble whilst saddling myself with crippling debt for a large part of my life and paying off a Bank that's happy to lend me someone elses money so long as they can charge 100% interest for themselves for doing nothing.

After a long wait and several viewings myself and my other half have purchased a 3 bedroom victorian terrace a couple of miles from where we've been living for the past 11 years, (1 bedroom council flat). I'd managed to save up 50% of the value over the past 4 years and my folks were in the position to lend me the other 50% which we intend to pay back over 5 years.

I've never been interested in owning a house as an investment, but just somewhere to live and to call home, thanks to the vigiliance on here I'm closer to achieving that and all the while not owing a penny to the Banksters!

HPC I Salute You!

mspL4

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Hey HPC-ers!

Just thought I'd let you all know that after being a keen spectator and sometimes contributor to this site for the past 6 years I've finally bitten the bullet and bought a place.

I'd like to Thank You all for keeping me sane and preventing me from buying into an overpriced bubble whilst saddling myself with crippling debt for a large part of my life and paying off a Bank that's happy to lend me someone elses money so long as they can charge 100% interest for themselves for doing nothing.

After a long wait and several viewings myself and my other half have purchased a 3 bedroom victorian terrace a couple of miles from where we've been living for the past 11 years, (1 bedroom council flat). I'd managed to save up 50% of the value over the past 4 years and my folks were in the position to lend me the other 50% which we intend to pay back over 5 years.

I've never been interested in owning a house as an investment, but just somewhere to live and to call home, thanks to the vigiliance on here I'm closer to achieving that and all the while not owing a penny to the Banksters!

HPC I Salute You!

mspL4

Shouldn`t you just hold your money and wait? In London you will still just be subsidizing someones probably massive debt?

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Shouldn`t you just hold your money and wait? In London you will still just be subsidizing someones probably massive debt?

I aint based in London...

mspL4

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sounds good, especially as you will have paid for it all within eight years. Thats how it should be!

It should all be paid for in 5 years, depending on whether or not either of us still has a job then...

mspL4

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Shouldn`t you just hold your money and wait? In London you will still just be subsidizing someones probably massive debt?

I wouldn't have bought now, but if he's not going to protect/invest) the cash in precious metals, then he was probably better off sinking it into a property, especially as he is borrowing the balance from relatives and not the bank, so can't be repossessed.

Better than waiting it out, only to see Merv destroy the value of your savings while propping up house prices with his printing and ZIRP.

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Excellent play, well done. Having no, or minimal mortgage, makes so much sense...

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Good luck with it as it sounds like you have a decent margin and have let prices fall. Do you know by how much they have fallen in your area since the peak?

The property sold in 2007 for 33% more than I just paid for it. It actually changed hands twice in 2007, 4 months apart. Obviously someone flipped it as there was a 25k increase in the price from the initial purchase to when it sold again 4 months later. Incidentally, the price I paid for it is still considerably less than the initial sale price in 2007 pre-flip.

mspL4

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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