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TheCountOfNowhere

Shoulda rented....

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Tell that to the woman sat near me at work that goes on constantly about her attempts to save a deposit to buy a house and the HTB scheme and HTB ISA etc etc.  it is torture...I am going to scream!  She is late 20's and driven mad with the desperation to buy a place with her boyfriend, she talks of nothing else.  Latest today is that they are planning on moving in with her boy friend's step dad so they can save money on rent and save more money for that fabled deposit.  Reportedly they have been living on bread and water for years and never go anywhere or do anything...must buy a house asap, must buy a house asap...ARGHH!

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25 minutes ago, Wayward said:

Tell that to the woman sat near me at work that goes on constantly about her attempts to save a deposit to buy a house and the HTB scheme and HTB ISA etc etc.  it is torture...I am going to scream!  She is late 20's and driven mad with the desperation to buy a place with her boyfriend, she talks of nothing else.  Latest today is that they are planning on moving in with her boy friend's step dad so they can save money on rent and save more money for that fabled deposit.  Reportedly they have been living on bread and water for years and never go anywhere or do anything...must buy a house asap, must buy a house asap...ARGHH!

LOL, I work with some that have their house valued periodically every 6-12 months for the gains checking. Must not have been good this year as i haven't been bombarded with the figures....

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28 minutes ago, Wayward said:

Tell that to the woman sat near me at work that goes on constantly about her attempts to save a deposit to buy a house and the HTB scheme and HTB ISA etc etc.  it is torture...I am going to scream!  She is late 20's and driven mad with the desperation to buy a place with her boyfriend, she talks of nothing else.  Latest today is that they are planning on moving in with her boy friend's step dad so they can save money on rent and save more money for that fabled deposit.  Reportedly they have been living on bread and water for years and never go anywhere or do anything...must buy a house asap, must buy a house asap...ARGHH!

Have you advised her that forgoing the premium coffee and iphones she could buy outright. ;) 

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7 minutes ago, longgone said:

Have you advised her that forgoing the premium coffee and iphones she could buy outright. ;) 

and durex condoms, expensive dildos, branded purses/shoes/clothes

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35 minutes ago, Wayward said:

Tell that to the woman sat near me at work that goes on constantly about her attempts to save a deposit to buy a house and the HTB scheme and HTB ISA etc etc.  it is torture...I am going to scream!  She is late 20's and driven mad with the desperation to buy a place with her boyfriend, she talks of nothing else.  Latest today is that they are planning on moving in with her boy friend's step dad so they can save money on rent and save more money for that fabled deposit.  Reportedly they have been living on bread and water for years and never go anywhere or do anything...must buy a house asap, must buy a house asap...ARGHH!

more or less my life.
Although obsessing in just plain unhealthy.

Seems like they are just adapting to the situation forced upon them. To achieve the mythical deposit you do need to smash out the savings, but you can still have a quality of life, lots of good stuff is free.

For a bloke it makes more sense than ever to meet a younger girl to give you more years of saving before almost being forced to load up on debt for a nest for the partners baby needs. These days you need a good 10 years of savings to at least get a half decent mortgage rate, if the people your talking about is doing everything she says just for a 5 or 10% deposit then shes nuts.

If shes doing it for a 30 or 50% deposit then fair play thats as sensible as you can be against the madness. 
 

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1 minute ago, suresh786 said:

and durex condoms, expensive dildos

That was the first thing to go out of my spend.  if i need those i will look on gumtree. plenty perfectly usable used ones around.  

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1 hour ago, Wayward said:

Tell that to the woman sat near me at work that goes on constantly about her attempts to save a deposit to buy a house and the HTB scheme and HTB ISA etc etc.  it is torture...I am going to scream!  She is late 20's and driven mad with the desperation to buy a place with her boyfriend, she talks of nothing else.  Latest today is that they are planning on moving in with her boy friend's step dad so they can save money on rent and save more money for that fabled deposit.  Reportedly they have been living on bread and water for years and never go anywhere or do anything...must buy a house asap, must buy a house asap...ARGHH!

Tell her she doesn't value her freedom. The banks have somehow convinced people that taking on monster debts is freedom!! 

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1 hour ago, Wayward said:

Tell that to the woman sat near me at work that goes on constantly about her attempts to save a deposit to buy a house and the HTB scheme and HTB ISA etc etc.  it is torture...I am going to scream!  She is late 20's and driven mad with the desperation to buy a place with her boyfriend, she talks of nothing else.  Latest today is that they are planning on moving in with her boy friend's step dad so they can save money on rent and save more money for that fabled deposit.  Reportedly they have been living on bread and water for years and never go anywhere or do anything...must buy a house asap, must buy a house asap...ARGHH!

I blame TV.

People really are thick and cant see how ridiculous this is.

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Quote

I have contacted estate agents to try and sell it but they told me this flat will never sell under those circumstances.

"My equity has also become negative since this debacle.

Well, you win some, you lose some.

I would default and walk away. Let the bank deal with it.

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6 minutes ago, Locke said:

Well, you win some, you lose some.

I would default and walk away. Let the bank deal with it.

I agree. It's a tough decision to make but handing the keys back would be high up on my list of options. I had been wondering whether building warranty should have covered it but I guess it was within the regs when it was built.

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30 minutes ago, LivingWithTheInlaws said:

I agree. It's a tough decision to make but handing the keys back would be high up on my list of options. I had been wondering whether building warranty should have covered it but I guess it was within the regs when it was built.

Hard to know what to do in their circumstances where you live in a flammable environment, where there could accidentally be a fire. Difficult when you are facing a massive bill, did I mention there could accidentally be a fire.

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24 minutes ago, Funn3r said:

Hard to know what to do in their circumstances where you live in a flammable environment, where there could accidentally be a fire. Difficult when you are facing a massive bill, did I mention there could accidentally be a fire.

Just make sure to coincidentally throw an off-site party for all residents at the time of that unfortunate accident. Safety first.

Edited by kibuc

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1 hour ago, kibuc said:

Just make sure to coincidentally throw an off-site party for all residents at the time of that unfortunate accident. Safety first.

I think there's a royal wedding isn't there, get everyone out in the street hanging up bunting, and perhaps a celebratory firework display. Hurrah!

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4 hours ago, Wayward said:

...must buy a house asap, must buy a house asap...ARGHH!

Instead I regularly get to hear about stretched remortgaging plans to releasing some equity for a 20% deposit to buy a cheap flat and forever leech off someone else. Seems that BTL is still seen as the only easy way out to financial freedom and early retirement :wacko:.

What about the extra stamp duty for BTL purchases? "Not bothered."
What about any voids and maintenance? "..... (silence)"
S24 tax relief changes on interest payments? "Doesn't matter (rents will just go up to cover), anyway they'll be paying my mortgage off for me and after 20 years I'll have a valuable asset paid off with a regular income... if I don't do it now..."

 

The attitude to property and people in the UK has become quite grim these days.

 

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5 hours ago, jiltedjen said:

more or less my life.
Although obsessing in just plain unhealthy.

Seems like they are just adapting to the situation forced upon them. To achieve the mythical deposit you do need to smash out the savings, but you can still have a quality of life, lots of good stuff is free.

For a bloke it makes more sense than ever to meet a younger girl to give you more years of saving before almost being forced to load up on debt for a nest for the partners baby needs. These days you need a good 10 years of savings to at least get a half decent mortgage rate, if the people your talking about is doing everything she says just for a 5 or 10% deposit then shes nuts.

If shes doing it for a 30 or 50% deposit then fair play thats as sensible as you can be against the madness. 
 

Or just keep renting whilst you have kids.

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2 minutes ago, malk said:

Or just keep renting whilst you have kids.

Or live at home until your say 35 and the buy outright and have kids with your 30 year old wife.
Work part time from that point onwards as mortgage is done. Spend quality time with kids. 

Thats more or less my 10 year plan, and im 5 years into it. 
Yes its sacrifices, but a lot of the best things in life are free. And i value my freedom a lot.
Sod the housing crisis and debt, can out-save price rises if your away from the south east. 

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4 minutes ago, jiltedjen said:

Or live at home until your say 35 and the buy outright and have kids with your 30 year old wife.
Work part time from that point onwards as mortgage is done. Spend quality time with kids. 

Thats more or less my 10 year plan, and im 5 years into it. 
Yes its sacrifices, but a lot of the best things in life are free. And i value my freedom a lot.
Sod the housing crisis and debt, can out-save price rises if your away from the south east. 

[I hope this doesn't come across as antagonistic, certainly not intended that way.]

It's an interesting concept of freedom where you're essentially constrained into picking a partner that's younger than you and also living with your parents until 35. I don't have a problem with anyone taking this decision given the background situation but it surely doesn't describe freedom?

I've lived in London for nearly a decade and am now 35 with a second kid on the way. We've lived in rented accommodation the whole time and saving hasn't been simple, particularly as I wasn't willing to forgo a large part of my youth living in austerity. So I've pissed a load of brass away on booze, been skiing most years, took a three week holiday on the other side of the world before the first bairn came. Does that mean I'm further away from buying a house? Sure but I wouldn't change given my time again.

I've also had lots of coffees from Pret. I have fewer now having bought a very nice vacuum cup from Klean Kanteen but still, meh.

We'll keep renting, having fun and waiting for prices to come back to some level of normality. If they don't come back to normality I'll sharpen a pitchfork and join the revolution. The houses are there, in the long term there's an easy way or a hard way for the people to use them. Which is which is for others to decide.

I remember that my Dad bought his first house, a three-bed mid terrace in the town he grew up in, on the single income of a 23-year-old electrician. He worked a good few extra shifts but went on the lash a lot too. Most of his friends didn't work as many extra shifts and bought their first houses with partners or a few years later.  That'd be nice.

Pitchfork solution aside, we're moving away from the South East in the not too distant future. We'll end up in a nice market town with good schools and buy a terraced house on a nice street. We'll then pay it off in 5-10 years depending on how much we work and how much quality time we spend with and without the kids.

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so you say im not free yet you will be 40 or 45 before your free.
I will be mortgage free by 35. So 10 years of slightly awkward living instead of 15-20 years of rent or mortgage like you.
Its your life, your choices, we shouldn't have to make hard choices, its not our fault the housing crisis is like this.
But we can adapt, not get involved with women who are in a rush to have kids, not have kids before mortgage is sorted.
I never wanted to have to spend the few short years we have on this planet making someones else's life all happy days, when with a bit of planning i could be very happy and set for life with a bit of foresight. 
Also with interest on mortgage your actually working a lot longer and paying a lot more of your life to banks and boomers, by taking on debt. It's possible to be debt free and buy a house for say £180k instead of the same house for £260k once interest is applied.

massive financial crisis, need to adapt. 

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5 hours ago, Funn3r said:

Hard to know what to do in their circumstances where you live in a flammable environment, where there could accidentally be a fire. Difficult when you are facing a massive bill, did I mention there could accidentally be a fire.

 

5 hours ago, kibuc said:

Just make sure to coincidentally throw an off-site party for all residents at the time of that unfortunate accident. Safety first.

 

3 hours ago, Funn3r said:

I think there's a royal wedding isn't there, get everyone out in the street hanging up bunting, and perhaps a celebratory firework display. Hurrah!

LMFAO

 

This is the sort of property advice you'll never see in the mainstream media 

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8 minutes ago, chronyx said:

 

 

LMFAO

 

This is the sort of property advice you'll never see in the mainstream media 

More's the pity!!! ?

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  • 406 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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