Saturday, April 7, 2012

Halifax trying to tell us – everything is just fine

Cost of running a house hits £10,000 a year despite slump in mortgage repayments

Martin Ellis from the Halifax said, "In 2008, the average annual repayments bill was £4,521. Today it is £3,485 – a drop of more than £1,000. However, this fall has been more than offset by the increase in other bills." So this assumes the mortgage is interest only, so of course it is cheaper as you may never pay back the loan.

Posted by will @ 09:49 AM (1877 views)
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3 thoughts on “Halifax trying to tell us – everything is just fine

  • Figures for mortgage repayments are nonsense, skewed downwards by those who have no mortgage or the interest element is missing or something similar. Problem with using averages, when medians would be more appropriate

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  • Running a house doesn’t include broadband, so most of us shouldn’t be able to read Martin Ellis’ deliberations online. He also forgot to factor in Bic razors.

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  • Oh, and interest rates will never ever ever ever ever go up ever ever ever again!

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