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Buyingyourfirsthome.co.uk

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More VI spin.

The Firstrung team lost interest in reviewing this supposedly impartial site once we reached this section.

http://www.buyingyourfirsthome.co.uk/Default.aspx?tabid=68

What a pretty homepage. A lovely graphic of an ideal town - not much traffic, lot's of useful property based businesses, playground, football pitch, helicopter flying over, no litter, grid streets. This must be either Milton Keynes on a good day or somewhere in Canada!! :)

No other shops or Tesco to spend what little money you have left after paying the mortgage!!

Also had a look at the Halifax affordability calculator - very scary amounts can be borrowed. Seems to be that people are only budgeting for the initial monthly cost. The 25 year commitment at different rates and in unforseen circumstances are not being factored in I feel. Which is why property has got to be so expensive.

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Guest Baffled_by_it_all

Loved this from the 'Going To The Estate Agents Bit'

Think carefully about the kind of home you'd like.

Ooh, a nice terrace.

Would you prefer a garden or a view of the city?

Aah, think I'd prefer a garden

How many bedrooms would you like?

Two would be great, so I can have friends and family to stay.

Try to have a clear picture of what you are looking for and the price range you know you can afford. Then

Damn - all I can afford is a rat-infested studio in with a view of the local skip.

flash a smile and ask what they have on their books.

Or flash a smile and say you'll be back in a couple of years - if they're still in business.

Edited by Baffled_by_it_all

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More VI spin.

The Firstrung team lost interest in reviewing this supposedly impartial site once we reached this section.

http://www.buyingyourfirsthome.co.uk/Default.aspx?tabid=68

Has anyone tried the affordability caclulator?

The "how much can I afford" section states for a single applicant:

"Mortgage providers will lend around three to three and a half times your annual income."

But if you go the suggested calculator - it suggests that you can borrow far more

Put in £30000 and you can borrow £132,000 to 150,000 (3.5x multiple 105,000)

Put in £20000 and you can borrow £80, 000 to 92,000 (3.5x multiple 70,000)

These are both far more than a 3.5x multiple - is this not a bit daft? :unsure:

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These are both far more than a 3.5x multiple - is this not a bit daft? :unsure:

The calculator suggested I could borrow between 4.4 and 5 times my income.

Halifax need to be pulled up on this.

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Guest Winners and Losers

The calculator suggested I could borrow between 4.4 and 5 times my income.

Halifax need to be pulled up on this.

Nationwides calculator is the same.

Edited by Winners and Losers

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Strange - it said generally you can borrow 3 - 3.5 times your income, so I used the mortgage calculator, and it offered me 5 times my income !

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They'll 'lend me' 122k to 144k. This is a smidgeon more than 3.5 x my salary. Bluddy hell.

I shudder to think what the repayments on 144k would be.

This type of irresponsible rubbish is the reason why we are in this precarious economic position at present.

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  • 301 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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