The What Did You Do Instead Of Getting Into Mortgage Debt Thread

[Inoperational Bumblebee]

I've never understood the attraction of newbuilds either; they are usually pretty generic looking, and all packed together so tightly! With an older house, if there's bits going wrong it'll be easier to spot IMO.

Wife bought before we met but it's only 2x joint so we've got plenty of leeway, though she's definitely come round to the HPC mindset as (unprovoked) she suggested we STR last year! The sums didn't add up unfortunately.

Only in the last few years have I managed to get a reasonably paid job but I'm socking away a good chunk every month into my S&S ISA. Still a long way from FI but that's no reason not to try as hard as I can.

We both enjoy our jobs though I'd much rather it was optional!

[SimonSays]

No,but if you have an online business,or want to retire early yes.Never Boro though,for any reason.

Isn't that the problem? Theres plenty of places in the north that I couldnt contemplate settling down in, in fact I don't know of one that passes muster. I suppose I open myself up now to accusations of snobbery but I merely am being honest about my experiences. Theres plenty of hollowed out areas on the north that haven't recovered from their loss of industry, theres a lot of benefit claimants on the fiddle, entire towns of it! As the KLF said, its grim up north.

Its not just the pervading sense of hopelessness from those left behind when their more qualified friends went down to london, its the weather, the orange spray tanned hen parties, everyone seems to have a chip on their shoulder, loutishness, drunkenness; Id never before seen people walking around with bruised faces and black eyes in the town centres before I spent some time in the north. Id never seen such young single mothers pushing prams either, or so much casual shop lifting. Theres some nice areas but the scum all come in on the weekend and ruin it. Then theres the immigrant ghettos, bradford comes to mind.

Work has taken me to the north east and north west,I was keen to move back down south every time.

[spyguy]

Isn't that the problem? Theres plenty of places in the north that I couldnt contemplate settling down in, in fact I don't know of one that passes muster. I suppose I open myself up now to accusations of snobbery but I merely am being honest about my experiences. Theres plenty of hollowed out areas on the north that haven't recovered from their loss of industry, theres a lot of benefit claimants on the fiddle, entire towns of it! As the KLF said, its grim up north.

Its not just the pervading sense of hopelessness from those left behind when their more qualified friends went down to london, its the weather, the orange spray tanned hen parties, everyone seems to have a chip on their shoulder, loutishness, drunkenness; Id never before seen people walking around with bruised faces and black eyes in the town centres before I spent some time in the north. Id never seen such young single mothers pushing prams either, or so much casual shop lifting. Theres some nice areas but the scum all come in on the weekend and ruin it. Then theres the immigrant ghettos, bradford comes to mind.

Work has taken me to the north east and north west,I was keen to move back down south every time.

North Yorkshire. Although Id be biased on that.

East Yorkshire/Wolds - outside of Hull.

Its not grim esp. when compared to most of Thames Valley. Inner M25.

[SimonSays]

How sad that the majority waste their lives on the "hamster wheel" and never get to engage with the world as much as they could without that millstone of debt around their neck.

All to "own" a box made of bricks and mortar.

There are none so enslaved as those that believe themselves to be free.

What makes me laugh is their mocking of people like those in this thread. You can see it on the money saving expert forum, such hatred and mocking of people who rent. I suppose its part of their way of coping… do they know they've only one life?

[spyguy]

Isn't that the problem? Theres plenty of places in the north that I couldnt contemplate settling down in, in fact I don't know of one that passes muster. I suppose I open myself up now to accusations of snobbery but I merely am being honest about my experiences. Theres plenty of hollowed out areas on the north that haven't recovered from their loss of industry, theres a lot of benefit claimants on the fiddle, entire towns of it! As the KLF said, its grim up north.

Its not just the pervading sense of hopelessness from those left behind when their more qualified friends went down to london, its the weather, the orange spray tanned hen parties, everyone seems to have a chip on their shoulder, loutishness, drunkenness; Id never before seen people walking around with bruised faces and black eyes in the town centres before I spent some time in the north. Id never seen such young single mothers pushing prams either, or so much casual shop lifting. Theres some nice areas but the scum all come in on the weekend and ruin it. Then theres the immigrant ghettos, bradford comes to mind.

Work has taken me to the north east and north west,I was keen to move back down south every time.

Sigh. Reading, Luton, Hastings, Every where East of Tower Bridge, everywhere West of Regents park.

I know a shithole when I one - Mboro for instance.

But most of the areas in the South are crap.

The only reason for moving South used to be the wages but they are not there anymore.

Finance is shrinking and without finance, the south has .... er?

[StainlessSteelCat]

In Northampton, a 2-bed terrace is going to cost you around £120,000 minimum e.g. http://www.rightmove.co.uk/property-for-sale/Northampton.html?sortType=1&secondaryDisplayPropertyType=terracedhouses&index=10 - so you're looking at a mortgage of around £100,000 with £20,000 deposit. And that's starting on the bottom rung of the housing ladder in Northampton. Should everyone who wants to own, but doesn't own, move to the North East? Factor in that Northampton's nothing special - just a midlands town with nothing much going for it - and then factor in the South East is far more expensive than Northampton - should millions of young people move to the North East?

Don't have to move quite that far. Stoke-on-Trent is still cheap.

[SimonSays]

Sigh. Reading, Luton, Hastings, Every where East of Tower Bridge, everywhere West of Regents park.

I know a shithole when I one - Mboro for instance.

But most of the areas in the South are crap.

The only reason for moving South used to be the wages but they are not there anymore.

Finance is shrinking and without finance, the south has .... er?

London and the satellite towns aren't worth what they cost, but if you've got some money you'll have a pleasant time. But as for value for money as per this thread, that area is out. But for me so is the north, its cheap but too much of a compromise on everything else. My opinion, I've experienced both.

The south outside of london and londons satellite towns is better but more expensive than the north. Overall for me the better value for money is there, which still has a minimum spend Im not happy with.

Id rather rent someplace where Im happy than buy where I'll be miserable.

Edited April 11, 2016 by SimonSays

[spyguy]

London and the satellite towns aren't worth what they cost, but if you've got some money you'll have a pleasant time. But as for value for money as per this thread, that area is out. But for me so is the north, its cheap but too much of a compromise on everything else. My opinion, I've experienced both.

The south outside of london and londons satellite towns is better but more expensive than the north. Overall for me the better value for money is there, which still has a minimum spend Im not happy with.

Id rather rent someplace where Im happy than buy where I'll be miserable.

Argue on this...

Its quicker and cheaper (with advance ticket..) to travel from York to KX than its is from Reading -> Wloo - on the slow via Bracknell line.

Im Northern but Ive lived in the South.

There are some nice places inthe South - London has some nice bits but they are off the scale.

Far West - Wiltshire + further, its nice.

I really do not 'get' most of the home counties.

[SimonSays]

Argue on this...

Its quicker and cheaper (with advance ticket..) to travel from York to KX than its is from Reading -> Wloo - on the slow via Bracknell line.

Im Northern but Ive lived in the South.

There are some nice places inthe South - London has some nice bits but they are off the scale.

Far West - Wiltshire + further, its nice.

I really do not 'get' most of the home counties.

Bit off topic now but just to end, if the choice was york or reading Id choose york but thats a nice place ruined by the loutish people from the surrounding areas; you never get away from that up there. But I wouldn't commute by train into the middle of london anyway, since we're talking about the value of lifestyle.

[Economic Exile]

Divorced when my youngest child was 3. Was awarded house and paid mortgage even though there was no settlement for me only for the 3 kids. Worked 5 years as a childminder as no childcare. Took variety of jobs to keep our heads above water and also moved to a more suitable house. When I got fed up with each job I resigned and found new one. I never went on benefit inbetween jobs as I made sure I had some savings so I wasn't stuck in jobs I loathed. When children had finished higher education I downsized and freed up some csh to live off until I reached pension age. I now live in a tiny house and can live frugally on my state pension and very small private pension.

I know I was lucky to get the house in the divorce but it was a real struggle being cash poor for 20+ years and doing jobs I hated. What a relief when I stopped

Very similar to my life position. Divorced when my youngest was 4. I had to pay him some money (much less than half) to buy him out which I added to the mortgage. It was back in 1998 and was affordable for me. My family helped with childcare.

The succession of shit low paid jobs topped up with tax credits I done had to fit in with my circumstances and I hated them all. I can relate to your feelings of your circumstances being a real struggle!

I moved twice and am now in a modest, paid up two bed semi. I'm currently drawing a smallish occupational pension and have a modest nest egg so my financial situation is better. Son still at home and paying dig money. I'm also very thrifty which helps.

Alas, because of two increases to my state pension age I still have 8 years to go and will get it when I'm 66. I can't wait. It'll be a relief!

[Guest]

Divorced when my youngest child was 3. Was awarded house and paid mortgage even though there was no settlement for me only for the 3 kids. Worked 5 years as a childminder as no childcare. Took variety of jobs to keep our heads above water and also moved to a more suitable house. When I got fed up with each job I resigned and found new one. I never went on benefit inbetween jobs as I made sure I had some savings so I wasn't stuck in jobs I loathed. When children had finished higher education I downsized and freed up some csh to live off until I reached pension age. I now live in a tiny house and can live frugally on my state pension and very small private pension.

I know I was lucky to get the house in the divorce but it was a real struggle being cash poor for 20+ years and doing jobs I hated. What a relief when I stopped

Glad things turned out OK... Tiny house (as long as not a £1m studio in sw8!) is very relaxing ... We had a small campervan in Oz... All we had was a little stove and fridge, 2 days food, scrabble, few books, and plenty of wine. Bliss

[frederico]

I took out a small mortgage and saved at a higher rate than the mortgage interest.

Those days are gone now though #sadface

[winkie]

I took out a small mortgage and saved at a higher rate than the mortgage interest.

Those days are gone now though #sadface

Now you have no debt, if you have no debt you can save even more, and also have the same or similar differential in credit interest no risk rates....you also have greater freedom and greater choices.....and can move quickly when new better opportunities arise.