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jammo

Mortgage Window

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The average age of a first time buyer is 37. This article I just spotted declares that getting a mortgage over 40 is going to be a struggle!

So the window for getting a mortgage in terms of age range is 3 years :lol: I'm sure I'll be prepared by then, but damn if it isn't tight! Any thoughts?

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Check out this numptie's comment:

'I am 54 and just got my first mortgage for 20 years with Nationwide Building Society without a problem at all. I moved into my new home last Saturday and it feels good to have my own home and the security it brings with it. Nationwide gave me an almost instant decision within 24 hours.'

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The average age of a first time buyer is 37. This article I just spotted declares that getting a mortgage over 40 is going to be a struggle!

So the window for getting a mortgage in terms of age range is 3 years :lol: I'm sure I'll be prepared by then, but damn if it isn't tight! Any thoughts?

When I first joined here after realising the property market was in a bubble I was 37. Now I'm 43 :(

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The average age of a first time buyer is 37. This article I just spotted declares that getting a mortgage over 40 is going to be a struggle!

So the window for getting a mortgage in terms of age range is 3 years :lol: I'm sure I'll be prepared by then, but damn if it isn't tight! Any thoughts?

As I've said before, the property ladder at the moment is broken.

To work you need FTB's to be mid twenties, moving up in their thirties and one last time in their 40's. Instead you've got mid thirty year olds stretching themselves to the limit to get on the first rung; 5-10 years hence they're still going to have minimal equity in their home and zero chance of moving up the ladder.

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As I've said before, the property ladder at the moment is broken.

To work you need FTB's to be mid twenties, moving up in their thirties and one last time in their 40's. Instead you've got mid thirty year olds stretching themselves to the limit to get on the first rung; 5-10 years hence they're still going to have minimal equity in their home and zero chance of moving up the ladder.

Did it in my mid twenties but that's why I stepped off the ladder in my early thirties. Its not broken, its ******ed.

see my sig

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As I've said before, the property ladder at the moment is broken.

To work you need FTB's to be mid twenties, moving up in their thirties and one last time in their 40's. Instead you've got mid thirty year olds stretching themselves to the limit to get on the first rung; 5-10 years hence they're still going to have minimal equity in their home and zero chance of moving up the ladder.

Exactly. How can there be a "property ladder" if there is no good footing? Granted people are living longer and the upper limit is not written in stone by any means. There simply needs to be new blood in the market, the lower limit needs reducing by a massive reduction in prices across the board. Further, the type of house being built recently is inadequate. You've all seen them - "townhouses" where the streets are jam packed with cars as the builders forgot that households have at least one car, often more. No front garden, a prison feel generally pervading a sense of intense indebtedness makes for a bad feeling for what should be the most exciting and progressive part of your life. I do hope this nonsense is corrected one way or another very soon. I feel a sense of tragedy for those who bought in the boom, but also a disassociation, in that I could never have chosen to live like that. The pressure of this mortgage window as I see it is an evil which makes people live in how they see as being the lesser evil option.

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The average age of a first time buyer is 37. This article I just spotted declares that getting a mortgage over 40 is going to be a struggle!

So the window for getting a mortgage in terms of age range is 3 years :lol: I'm sure I'll be prepared by then, but damn if it isn't tight! Any thoughts?

I've posted previously on here my tfh theory that this is the reason the pension age is being pushed up... :)

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When I first joined here after realising the property market was in a bubble I was 37. Now I'm 43 :(

Take heart that you are not in negative equity, that (hopefully) soon the options of being a FTBer will be more fortuitous for those who waited and were not imprudent :)

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A colleague in their early 20s has taken on a shared ownership house with a 40 year mortgage. I couldn't believe it.

Shared ownership has got to be the ultimate socialist dream hasn't it? Bound to turn sour after less than 2 years :lol:

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When I first joined here after realising the property market was in a bubble I was 37. Now I'm 43 :(

About the same length of time for me and just a couple of years younger but from having only a small percentage deposit I'll be able to move with at least 50% (for the amount I'm willing to pay for the type of house I want) and am looking at 10 year terms. With that in mind my total repayable will be very much less and secure a far better rate. Just need those moron PTB to stop playing with the market, let it correct and I'll divest myself of some assets for a nice house and the market can get moving again.

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IMO if you have reached 37 as a FTB you have to be very realistic whether or not you actually want to immerse yourself in property. My own financial fitness test would be 'could I pay off the mortgage before i'm 55 years old' i.e. keep to an 18 year term, if the answer is no then I'd continue to rent and hope the market corrects itself all the time putting aside the 'capital repayment' equivalent aside on top of paying my rent so you are aligned with those of all colours to buy should the opportunity arise.

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A colleague in their early 20s has taken on a shared ownership house with a 40 year mortgage. I couldn't believe it.

I`ve got some genuine moon rocks I`m trying to shift, one of them signed by Peter Pan himself, think they would be interested?

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  • 311 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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