SMAC67 Posted February 27, 2008 Share Posted February 27, 2008 Is that a bed for every other night? I have rented a number of four bed properties over the years, but that was with 3 other people. It mean't I paid about £200-£250 per month. £1600 to have your own choice of colour on the walls is also a bit steep. Quote Link to comment Share on other sites More sharing options...
since the beginning Posted February 27, 2008 Share Posted February 27, 2008 Just like the people who took out 125% NRK mortgages. Some MP's want the government to go easy on them as they supposedly took the mortgages on in 'good faith' when fixed rates where just over 5%. Surely they should have factored in the current rates of over 7%. Why should we bail them out. :angry: I love the fact they are called Fixed Rates when most people only fix them for 2 years. Practically pointless! Quote Link to comment Share on other sites More sharing options...
jimmy_joe Posted February 27, 2008 Share Posted February 27, 2008 My own mortgage reset from £256 to £205 (I think they must have miscalculated) following this month's base rate change :-) Quote Link to comment Share on other sites More sharing options...
thedebtisreal Posted February 27, 2008 Share Posted February 27, 2008 not necessarily. rents in london are quite high and a 4 bed house can easily set you back almost double that in rent Aye, sadly that's true. The yield on the property though is just 3.2%. Even if the value halved, it would still be a struggle to make any money from it. I'm not too worried about the right to paint a place. I think decorating is the job of the starving underclasses (ie. Landlords) However, in these uncertain times, flexibility is all. One months notice and I'm out and ready to move anywhere. I don't think bomberman's friend has that escape route. Quote Link to comment Share on other sites More sharing options...
Guest absolutezero Posted February 28, 2008 Share Posted February 28, 2008 A work colleague's mortgage is going to reset soon. Don't know how much her mortgage is but it's going up by £250 a month. This is on a house that she bought for £100,000. She's said she can't afford it. Looks like she's fooked.... To be honest, I'd not have given her a mortgage. When she gets paid (£2000 a month take home) she's only less overdrawn than she was before payday..... Quote Link to comment Share on other sites More sharing options...
Hector's House Posted February 28, 2008 Share Posted February 28, 2008 i believe for the same money you could stay at a pretty decent hotelin this hotel you will pay no council tax of 50 week either, that you can spend on a nice couple of dinners in this hotel you will get your own cleaner and bed linen changed you will pay no heating bills at all , thats another few nice meals a month your breakfast will be cooked for you to a nice standard there will be no repair costs and leaving is just as easy as heading to the reception this is where i balance out the benifits of owning a home, when good hotels cost less with all the extras, that realy does show how over priced they realy are. I've never thought of it that way before. I bet a few people have realised it's better then having to deal with some amateur landlord too: no upfront deposit, no fear of being turfed out after 6 months etc. Quote Link to comment Share on other sites More sharing options...
fluffy666 Posted February 28, 2008 Share Posted February 28, 2008 A work colleague's mortgage is going to reset soon.Don't know how much her mortgage is but it's going up by £250 a month. This is on a house that she bought for £100,000. She's said she can't afford it. Looks like she's fooked.... To be honest, I'd not have given her a mortgage. When she gets paid (£2000 a month take home) she's only less overdrawn than she was before payday..... How is that possible? A £100k repayment mortgage would have been circa £600 per month.. (5% interest), it would have to go up to 9% interest to increase by £250. MEW, I guess.. Quote Link to comment Share on other sites More sharing options...
Guest absolutezero Posted February 28, 2008 Share Posted February 28, 2008 How is that possible? A £100k repayment mortgage would have been circa £600 per month.. (5% interest), it would have to go up to 9% interest to increase by £250. MEW, I guess.. Given her credit history I imagine she's not exactly a prime customer. Quote Link to comment Share on other sites More sharing options...
Havoc Posted February 28, 2008 Share Posted February 28, 2008 £1600 is 5 months rent for me - including council tax. Even at his previous payment of £1200 it just shows you that people will pay anything when it comes to owning their own home. Quote Link to comment Share on other sites More sharing options...
iow2007 Posted February 28, 2008 Share Posted February 28, 2008 i've got a friend that pays 1000/month interest only. when he told be how much the mortgage was i nearly fell over laughing. i thought he was brighter than that. he put 100k down as a deposit. he'd have been a perfect str'er. Quote Link to comment Share on other sites More sharing options...
Andy Jones Posted February 28, 2008 Share Posted February 28, 2008 Hmmm, my mortgage outgoings were £2,272 a month (repayment) two years ago. But I did have 8 double bedrooms to choose from. These resets are indeed the real story in the coming crash. Many will be able to cope with the increased expenditure BUT ONLY at the expense of cutting out on the pub, the spa, the shopping sprees and the holidays. This will cause a recession in itself leading to job losses and a spiral of forced sales and repossessions. Its the forced sales and auctioned repos that force the sharp falls in house prices. We will see them this year for sure and 2009 will be horrific. I want 10 bedrooms this time. ANDY Quote Link to comment Share on other sites More sharing options...
iow2007 Posted February 28, 2008 Share Posted February 28, 2008 Hmmm, my mortgage outgoings were £2,272 a month (repayment) two years ago. But I did have 8 double bedrooms to choose from.These resets are indeed the real story in the coming crash. Many will be able to cope with the increased expenditure BUT ONLY at the expense of cutting out on the pub, the spa, the shopping sprees and the holidays. This will cause a recession in itself leading to job losses and a spiral of forced sales and repossessions. Its the forced sales and auctioned repos that force the sharp falls in house prices. We will see them this year for sure and 2009 will be horrific. I want 10 bedrooms this time. ANDY this is a repo near to here i live. it's also been reduced from 155k (if i remember correctly). still hasn't sold. theres a house on the same road on the market for 190k. http://www.rightmove.co.uk/viewdetails-184...=1&tr_t=buy Quote Link to comment Share on other sites More sharing options...
ScaredEitherWay Posted February 28, 2008 Share Posted February 28, 2008 That's somewhere to sleep, eat, wash and watch telly?£1600 a month. No ... that's for somewhere to store the stuff you bought on credit card while you go out and work overtime and/or 2nd/3rd job to try to pay for it all. Not much sleeping going on. Eating = beans. Wash ... possibly got the time Watch telly .... no, but the 50" plasma is stored there. No time to WATCH it. Quote Link to comment Share on other sites More sharing options...
ScaredEitherWay Posted February 28, 2008 Share Posted February 28, 2008 (edited) Are you sure she takes home £2000 per month? She sounds stupidddddddddddddddd.......... If your take home pay reflected intelligence, I'd be on a fortune. Unfortunately it isn't. (IQ = 163) Edited February 28, 2008 by ScaredEitherWay Quote Link to comment Share on other sites More sharing options...
iow2007 Posted February 28, 2008 Share Posted February 28, 2008 Now, see if that property was in Alverstoke or Portsmouth, that would be valued by £50 - 80k more.......... true, but you've got more chance of getting a half decent job in pompey than the IOW. goes to show though, even repos aren't selling here. Quote Link to comment Share on other sites More sharing options...
Sheer Heart Attack Posted February 28, 2008 Share Posted February 28, 2008 As stated on another thread, my mortgage has just reset from £675 to £755 at the end of my 2-year introductory offer. I'm off. Pay another £960 a year to live in the same little shoebox? No ta - mortgage moved. Quote Link to comment Share on other sites More sharing options...
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