Jump to content
House Price Crash Forum
Sign in to follow this  
Its time to buy

Very Personal Poll- How Big Is Your Mortgage?

Recommended Posts

Only trouble here is you are going to have renters filling in 'do not have a mortgage' for all three, a 'home owner mortgage free' option would have made it more interesting.

Share this post


Link to post
Share on other sites
Only trouble here is you are going to have renters filling in 'do not have a mortgage' for all three, a 'home owner mortgage free' option would have made it more interesting.

yep. am one of those dastardly renters. do not have a mortgage. do not want a mortgage. do not have any savings to stress about either. be free. spend don't save. rent don't buy.

Edited by Ellie

Share this post


Link to post
Share on other sites
yep. am one of those dastardly renters. do not have a mortgage. do not want a mortgage. do not have any savings to stress about either. be free. spend don't save. rent don't buy.

this will be seen as words of wisdom in months/years to come - if all else fails the taxpayer will underwrite you anyway - be free - enjoy - you could be dead tommorrow http://www.jr2.ox.ac.uk/bandolier/band150/b150-5.html

Share this post


Link to post
Share on other sites
this will be seen as words of wisdom in months/years to come - if all else fails the taxpayer will underwrite you anyway - be free - enjoy - you could be dead tommorrow http://www.jr2.ox.ac.uk/bandolier/band150/b150-5.html

Is true that members of my family have a habit of dropping dead in their early sixties. So I thought - why save for a tomorrow that will probably never arrive!

Share this post


Link to post
Share on other sites

Less depressing than having relatives who lurch determinedly into their late 90s leaving a trail of debt, angst and guilt behind. O for a swift death in one's sixties! (Until one gets to 59, that is.)

Share this post


Link to post
Share on other sites

I find your break points on size of mortgage a little strange.

The suggestion is that a mortgage of under £100k is a small one. With average earnings around £25k it still sounds pretty big to me!

My mortgage is £22k

That's not because I'm clever. It's because I'm 47!

Share this post


Link to post
Share on other sites
I find your break points on size of mortgage a little strange.

The suggestion is that a mortgage of under £100k is a small one. With average earnings around £25k it still sounds pretty big to me!

Sounds small to me.

Share this post


Link to post
Share on other sites
Only trouble here is you are going to have renters filling in 'do not have a mortgage' for all three, a 'home owner mortgage free' option would have made it more interesting.
I find your break points on size of mortgage a little strange.

The suggestion is that a mortgage of under £100k is a small one. With average earnings around £25k it still sounds pretty big to me!

My mortgage is £22k

That's not because I'm clever. It's because I'm 47!

Fair points - I ll treat this as pilot poll - I ll start another next weekend.

Interesting so far. A few of you have mortgages under £100K - Cant buy anthing much in todays money.

Edited by notanewmember

Share this post


Link to post
Share on other sites
I find your break points on size of mortgage a little strange.

The suggestion is that a mortgage of under £100k is a small one. With average earnings around £25k it still sounds pretty big to me!

My mortgage is £22k

That's not because I'm clever. It's because I'm 47!

Like you, my mortgage was for about £40K, but I only owe about £10K now. When I think of mortgages > £70K it makes me wonder how/why people take on such a debt (obvioulsy with current property prices, most people have no choice but to take on large mortgages). When I look at my outstanding mortgage balance, I still see it as a fairly large debt, yet it is tiny compared to what I would have to borrow if I were a FTB`er. Frightening.

Share this post


Link to post
Share on other sites
Like you, my mortgage was for about £40K, but I only owe about £10K now. When I think of mortgages > £70K it makes me wonder how/why people take on such a debt (obvioulsy with current property prices, most people have no choice but to take on large mortgages). When I look at my outstanding mortgage balance, I still see it as a fairly large debt, yet it is tiny compared to what I would have to borrow if I were a FTB`er. Frightening.

Agreed. I did some research for a thread on Brighton and Hove last night and was absolutely shocked at the mediocrity and prices, £350K for what I would have called a starter home. How people afford these large mortgages is beyond me. It's one thing to put yourself in hock for your dream home but people are doing it to own a tiny little flat :blink: I realised things are a lot worse than I had originally thought.

Share this post


Link to post
Share on other sites
I posted a reply to this thread earlier today saying that not only was this a very personal poll, but that there was no anonymity either - despite the appearance of such. Was it removed????

??? I didnt see it. ??? The poll is as anonymous as your personal details on your HPC account.

Share this post


Link to post
Share on other sites

I agree that a mortgage just shy of £100,000 is not a small one. Mine is just over £40,000 with 15 years to go and I still think of that as fairly substantial. Those of us who bought more than a decade ago probably have a very different outlook to those who didn't - and I imagine most of us would happily give up our 'equity' to have house prices back to something like normality.

Share this post


Link to post
Share on other sites

FTB, 90% LTV, repayment, just under £100K, just outside Manchester City Centre. Like it or not, £100K is a small mortgage for a genuine FTB today.

My current situation doesn't worry me. Being able to upgrade and the consequent bigger mortgage on only 1.5 incomes is the worrying thing and precisely why the madness must stop.

Share this post


Link to post
Share on other sites
Guest The_Oldie
I posted a reply to this thread earlier today saying that not only was this a very personal poll, but that there was no anonymity either - despite the appearance of such. Was it removed????

You must be mistaken, admin logs do no show any removed posts in this thread.

Share this post


Link to post
Share on other sites

I have a mortgage of £555k but could if I want pay it off but its the capital gain on the disposal of those assets I need to sell that stops me from doing it just now.

So I carry on paying the interest but certainly as tappering relief on capital gains increases will be looking to realise some assets in the next two to three years

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 351 The Prime Minister stated that there were three Brexit options available to the UK:

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.