Non, je ne regrette rien

[spyguy]

http://www.bbc.co.uk/news/uk-41594765

' James Lowrey-English, 26, bought a house with his wife Jessica in Bracknell in 2015.

"When we were offered the 40-year term we were overjoyed and elated to be offered anything at all."

It had been "heartbreaking" to think they might not be able to secure a mortgage, he explains.

"We now have two children and are happy with where we live. I have no regrets about taking out the mortgage.

"Our total outgoings are £1,200 a month, which is manageable."

He adds: "It's just about getting onto the ladder, we just needed to cross the line and actually secure a mortgage."

continues ...

Oh dear.

 

[spyguy]

2 years down. Only 38 left ...

 

[BearlyBegun]

It reads to me like some kind of comedy/dailymash style article... old cliches

"I hated just throwing money away on rent. You have to do anything you can to get on the housing ladder." (my bold)

[Venger]

Their choice.   Adults.  We can all see the prices, and we can all run numbers, and we all have different attitudes to risk.

The biggest dangers are the control-squad who would tell everyone what they can and can't do.

Also those who always hold up buyers as idiots and human shields against prices coming down for priced-out renters.

Quote

 

'I have no regrets'

Burnley couple
Charlie says she is happy with her "manageable" monthly payments of £480.
"It means we can afford to do nice things. We are flying to Portugal next week, which we wouldn't have been able to afford if the payments were higher.

Conor and Robyn are both first-time buyers with monthly mortgage payments of £550.
Conor says he resented renting, and a longer-term mortgage was a useful way to get a foot on the housing ladder.
"I would have happily taken a 40 or 50-year mortgage to get out of the rented sector."
"I hated just throwing money away on rent. You have to do anything you can to get on the housing ladder."

He says he wanted the mortgage term to be "as long as possible".
"The rationale was we would have the flexibility of lower monthly payments, and the option to overpay." "I understand that we will end up paying more, but I don't mind paying to have the flexibility of affordable repayments. It's worth it."
"We pay around £850 a month, and I see it as a good investment. It's not like we've racked up debt on credit cards."

 

 

They're not idiots, they're not uninformed, they just have a different market view.  Millions of different views.

[thewig]

#vileBBC pushing their vile HPI programming hard

[Fairyland]

I actually feel sad that these young people have just committed 40 years of their most productive life to pay for someone's fat profit.

Once they are done with the mortgage they would be 65+.  When/how will they enjoy life/pursue hobbies? will they then put their children through the same?

[oatbake]

What happens when interest rates rise? Will it be manageable then? I dare say they didn't bother considering whether that might happen...

[Venger]

10 minutes ago, Fairyland said:

I actually feel sad that these young people have just committed 40 years of their most productive life to pay for someone's fat profit.

Once they are done with the mortgage they would be 65+.  When/how will they enjoy life/pursue hobbies? will they then put their children through the same?

 

Tell it to the couple who have recently bought at near £270K on the outskirts of some place, and were having a big laugh that their pals were all wasting their money on booze, holidays and iphone.   How they were the greatest.

How they want to do without for homeownership.

They make their own choices.

They're not feeling sad for those they've outbid.  It's a market, not a control-squad-fest of innocence.

[GreenDevil]

45 minutes ago, spyguy said:

2 years down. Only 38 left ..

38 minutes ago, Venger said:

Their choice.   Adults.  We can all see the prices, and we can all run numbers, and we all have different attitudes to risk.

The biggest dangers are the control-squad who would tell everyone what they can and can't do.

Also those who always hold up buyers as idiots and human shields against prices coming down for priced-out renters.

 

They're not idiots

 

I disagree. 

Locking in 38 years, at 1200 a month, at 0.25% rates.

What else do you have to do to be more foolish? 

That's as stupids as it gets.

[oatbake]

3 minutes ago, GreenDevil said:

I disagree. 

Locking in 38 years, at 1200 a month, at 0.25% rates.

What else do you have to do to be more foolish? 

That's as stupids

Precisely. Just having rates increase to 1% will probably turn their £1,200 a month onto £2,400 a month... They are at best reckless and will no doubt be looking for sympathy if they come unstuck.

[Venger]

Maybe you should seek to take control of their lives then?

Mortgage calculator. 

https://www.drcalculator.com/mortgage/uk/

 

Maybe they are set to inherit.  Maybe they will refinance somewhere else.  Maybe their deal allows them to put lump sums down and overpay (as per one couple's deal in the article).

It's all their market view.

Do you do everything perfectly (I don't), but I don't want to be bossed around by those who think they know so much more.

We have the freedom to make choices, and make mistakes.  Other people exist.  Life hands out some hard knocks, and it's up for people to try and learn from them.

I can tell you that I am sick of so many years of being told buyers are idiots/brainwashed/innocents, vs raging HPI+++++.

No one is dragging them into the banks.  Other people exist.

Yes it's cr4p any lender would offer 40 year deals, but those who take them add to my problems, when they overpay.

[ThoughtCriminal]

1 minute ago, oatbake said:

Precisely. Just having rates increase to 1% will probably turn their £1,200 a month onto £2,400 a month... They are at best reckless and will no doubt be looking for sympathy if they come unstuck.

Nail. Hit. Head.

 

"The government should do something! We don't deserve this!"

[GreenDevil]

2 minutes ago, ThoughtCriminal said:

 

"The government should do something! We don't deserve this!"

Haha.

That's unlikely.

They are stuck with a ball and chain which can only get worse.

Imagine how you will feel 20 years in, when your mate says to you 'you must be nearly paid up now mate', you reply, 'err no we have another 20 years to go...'errr I better buy you a beer'

[ARENAPUA]

This is the way I see things potentially going.  And if it starts to become mainstream and you want to own a house, better jump on board as there is no reversal from there unfortunately. 

[spyguy]

55 minutes ago, Venger said:

Their choice.   Adults.  We can all see the prices, and we can all run numbers, and we all have different attitudes to risk.

The biggest dangers are the control-squad who would tell everyone what they can and can't do.

Also those who always hold up buyers as idiots and human shields against prices coming down for priced-out renters.

 

They're not idiots, they're not uninformed, they just have a different market view.  Millions of different views.

They probably are idiots.

26.   Average UK Joe earnings peak at 32ish.

0.25%. Trying putting average uk mortgage cost over last 30 years into that.

 

[TheCountOfNowhere]

My blood is now steam

[Philby1]

25 minutes ago, GreenDevil said:

I disagree. 

Locking in 38 years, at 1200 a month, at 0.25% rates.

What else do you have to do to be more foolish? 

That's as stupids as it gets.

Even though the unashamedly disgraceful BBC are reporting paying 1200 quid a month as a great thing, I think with Corbyn/Labour beginning to challenge the narrative around house prices young people are beginning to ask questions. You'd have to be pretty mad not to look at that equation and think yeah that's alright, I'm in! 

[spyguy]

3 minutes ago, Philby1 said:

Even though the unashamedly disgraceful BBC are reporting paying 1200 quid a month as a great thing, I think with Corbyn/Labour beginning to challenge the narrative around house prices young people are beginning to ask questions. You'd have to be pretty mad not to look at that equation and think yeah that's alright, I'm in! 

Jezza also questioning state spending limits.

If jezza gets in you might find how supportive jezza is on poor, indebt young people....

[TheCountOfNowhere]

"Are longer mortgages the answer to high property prices?" NO THEY'RE F**KING NOT

 

Many young first-time buyers are opting for up to 40-year mortgages rather than traditional 25-year terms. DID THEY NOT THINK TO OFFER HALF THE F*CKING INSANE ASKING PRICE !!!!!

 

Some people explain why and talk about their experience of the property market.  BBC PRETENDING THIS IS NOT AN ADVERT

'I have no regrets' NOT F**KING YET YOU DONT.

James Lowrey-English, 26, bought a house with his wife Jessica in Bracknell in 2015.

"When we were offered the 40-year term we were overjoyed and elated to be offered anything at all."  AT THIS POINT YOU SHOULD HAVE SCREAMED ARE OU F**KING MENTAL, IT'S A SHITTY HOUSE IN BRACKNELL !!!!

It had been "heartbreaking" to think they might not be able to secure a mortgage, he explains.  YOU ARE F*CKING MENTAL.

"We now have two children and are happy with where we live. I have no regrets about taking out the mortgage. JUST AS WELL BECAUSE YOU WONT EVER BE F**KING MOVING.

"Our total outgoings are £1,200 a month, which is manageable." WOULD BE MORE MANAGEABLE IF IT WAS FOR 10 YEARS AND NOT 40.

He adds: "It's just about getting onto the ladder, we just needed to cross the line and actually secure a mortgage."..IT'S NOT A F**KING LADDER, IT'S A PYRAMID SCAM YOU F**KING MORON.

'I like feeling stable'  SUBLIMINAL MESSAGE TO RENTERS, BUYING IS STABLE, RENTING IS S**T

Charlie Crompton, 26, bought her first house in Burnley last year with her boyfriend Craig. They chose a 35-year mortgage term.  IF YOU NEED A F**KING 35 YEAR MORTGAGE TO BUY A HOUSE IN F**KING BURNLEY SOMETHING IS REALLY REALLY WRONG.

 

Charlie says she is happy with her "manageable" monthly payments of £480. WITH IRs at 0,.25% YOU F**KING MORON

"It means we can afford to do nice things. We are flying to Portugal next week, which we wouldn't have been able to afford if the payments were higher. WITH IRs at 0,.25% YOU F**KING MORON

"I also really like feeling stable. We have a house rabbit that is a bit destructive, and I was always worried she would chew things in our rented place. Now we own a house she has free run." WITH IRs at 0,.25% YOU F**KING MORON

Her brother has a 25-year mortgage "and couldn't believe that we'd taken a 35 year one" YOU MIGHT BE SURPRISED TO FIND OUT, NOR CAN I.  YOU LIVE IN F**KING BURNLEY.

"I had no idea that 35 years was considered long-term," she says. IT'S CONSIDERED SLAVERY YOU F**KING MORON.

"I don't want to have a mortgage in 35 years; the sooner you're mortgage free, the sooner you can retire."  YOU WILL NEVER RETIRE.

'Throwing money away'  ANOTHER SUBLIMINAL MESSAGE.

Conor Doherty, 26, is just about to complete on a one-bedroom flat in central Glasgow, with a 30-year mortgage term, DID THE STAB VEST COME AS EXTRA ?

Conor and Robyn are both first-time buyers with monthly mortgage payments of £550 WITH IRs at 0,.25% YOU F**KING MORON

Conor says he resented renting, and a longer-term mortgage was a useful way to get a foot on the housing ladder, AGAIN, IT'S A F**KING PYRMIAD SCAM.

"I would have happily taken a 40 or 50-year mortgage to get out of the rented sector.", HOW CAN THE BBC PUBLUISH THIS SH*T ????

"I hated just throwing money away on rent. You have to do anything you can to get on the housing ladder." READ AS.  MY PARENTS MADE A FORTUNE OUT OF HOUSING SO THEY'VE ENCOURAGE ME TO GET INTO DENT TO SUPPORT THEM.

"Obviously, I am slightly nervous about taking on so much debt but young people are used to being in huge debt because of the cost of being a student." BANKERS LENDING TO D**KING STUDENTS !!!! ARREST THOSE EVIL C**Ts.

'It's worth it'  WITH IRs at 0,.25% YOU F**KING MORON, NO IT'S NOT.

Casper Holm, 29, went for a 35-year term mortgage when he bought a three-bedroom house in Cardiff in 2016, with his fiancé Cara, DIVORCED !!!!

 

He says he wanted the mortgage term to be "as long as possible". THANK F*CK I AM LEAVING.

"The rationale was we would have the flexibility of lower monthly payments, and the option to overpay." WITH IRs at 0,.25% YOU F**KING MORON

"The reality is it is hard to make yourself overpay, and we haven't." BECAUSE YOU'RE A F**KING MORON

"I understand that we will end up paying more, but I don't mind paying to have the flexibility of affordable repayments. It's worth it.", MORE, YO&U';lL BE F**KING BANKRUPT IN 2 YEARS.

"We pay around £850 a month, and I see it as a good investment. It's not like we've racked up debt on credit cards.", WHO ARE THESE F**KING LUNATICS ?

 

[Venger]

So many of the BTLers and HPIers think those on HPC who have been renting for years vs HPI+++++++++ are idiots.

And they have a good point, vs their housing positions over all the years, even just since 2009.  Even from 2014.

On 11/10/2017 at 1:35 PM, Mr Banks said:

So you mean to tell me the HPC everyone has been saying has been going on since 2009 outside of the south east hasn't really happened or at least is well over. Year on year i hear (mainly from the count who has me blocked) that house prices are at a peak and on their way down or It's madness to buy now. I have argued (sometime halfheartedly) that this is a political issue and the UK economy cant function without increasing prices because we cannot run a decent economy here in the UK.

I am still surprised that people see an imminent end to HPI, I'm not seeing it except in some parts of Cambridge and London. People look at the props and government policy and even the coalition could throw the market under the bus in 2010 and blame it on labour. They didn't because they knew its affect on the economy and their wealth. So if people expect to have a HPC to occur now willingly after the government passed it over then i think they will be disappointed.

It could be argued you should be more impressed with the acumen of the people who brought in 2014 who recognised the political will and freely set their position in the market exiting with a profit whereas the renter savers also freely decided not to buy and now have their cash and interest over those 3 years.

Nobody knows with certainly whether then new neighbours have made a good decision until they come to sell so I would be mindful about giving them an earful when the counts general viewpoint over the last few years has been a bit off in terms of direction of house prices (see are the shires crashing thread). Everyone makes free choices don't feel bitter about somebody elses success just reflect whether the decision not to buy/not to buy was indeed the correct one and use this data to improve ones decision making next time.

Anyway count this should be in the anecdotal section it is one sale (unless you apply different rules to my posts about a single sale).

 

How many times have we had the threads of buyers being idiots and uninformed, over the past 9 years?

We can't have a housing market where there is no downside to paying too much, to taking on too much debt, or from "I regret nothing" very long mortgages which means some (not those who inherit in future and pay it down) pay a lot more over the longer term.

Spyguy, you even suggest this guy may have been clueless about what he was doing, with 20+ properties bought down 20+ years.  Loaded with, until recently (S24), not much care in the world with all those properties bought down the decades and renters kicking up rent.   And he thinks S24 will be reversed anyway.  Adult man. 

People have agency for their own individual market decisions.  We can all see asking prices.  We can all run numbers.  No one has perfect reading of the market, but we call all practice caution.  We make choices.  It's true your choices spyguy, may have put you in a very solid financial position; I remember some of the numbers you told about size of your SIPP/Pension !  And to get in that position you may have worked hard (accountant's mind) and saved and invested wisely.  It's a market.

Some people choose to buy because they think it's best for them, others refuse to buy and rent, others have no option but to rent and have to rent or live in vans etc.

I'm on the side of those who refuse to overpay, and those who have no option but to rent.  Not telling the buyers (over all these years) they are innocents/victims.

 

If the idiot-callers were so right, there would be far many more sellers trying to cash in on the value of their homes at these prices levels.  Millions of people think these prices are stable and solid, and indeed many people think they're set to double again.  Market.

[GreenDevil]

And have we have to pay a licence fee fee to listen to this shit peddled by the #vilebbc.

[TheCountOfNowhere]

Complaint title

http://www.bbc.co.uk/complaints/complain-online/

 

Encouraging people to take on a lifetime of debt

Complaint description

I've seen some disgraceful reporting from the BBC on house prices but this article takes the biscuit. It is encouraging young people to take on massive debt for 40 years when house prices are at extreme levels and look set to collapse. How many properties does the person responsible for this article own ? How much have they profited from encouraging BBC license fee payers to prop up their own house price(s). Subliminal messages on how buying is better than renting. There is no balance in this report. The BBC should be exposing the bankers for the crimes, not helping them commit more. They should be telling young people not to take on 40 years of debt but to offer 50% under insanely high asking prices. I will not use the BBC or pay a license fee again after reading this, it is a national disgrace. I will be contacting the police to make a formal complaint also as I feel a fraud is being committed.

 

 

f**King disgraceful.  I'l be f**ked if I am giving those c**ts another penny.

Edited October 12, 2017 by TheCountOfNowhere

[oatbake]

Haha Burnley is just down the road from here. Until quite recently, it was the last place in England (maybe even the UK) where you could buy a house for under 10 grand!

Edited October 12, 2017 by oatbake
Missed a bit...

[GreenDevil]

1 minute ago, oatbake said:

Haha Burnley is just down the road from here. Until quite recently, it was the last place you could buy a house for under 10 grand!

I think that crown is worn now by Durham according to Barnard Marcus.

[durhamborn]

44 minutes ago, GreenDevil said:

I disagree. 

Locking in 38 years, at 1200 a month, at 0.25% rates.

What else do you have to do to be more foolish? 

That's as stupids as it gets.

Its incredible timing.Right at the end of a 35 year interest rate cycle.When they say outgoings of £1200 i think they must mean including all bills though.These people have around 5 years to get those mortgages down before interest rates go over 5%.Trapped,working until 65,or bankrupt.They really do seem to think mortgage rates will remain around the 2% level.They wont.