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2nd home somewhere on the South coast
Comments
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squatnow IS Alan Partridge:rotfl:
see below
"I enjoy my life. I drive a convertible sports car, have a gorgeous blond GF 6 years my junior, and holiday 2-3 times a year. In fact I've racked up 12 flights in the last 12 month including business travel."I found my eutopia tee hee I live in canada yeehaa!0 -
My parents in law had a terrible time getting a mortgage in the 70s. Due to being unqualified teenage newly-weds they had to lower themselves to getting a mortgage from the council - and my mother in law has had to work part time ever since to afford their foreign holidays!
The house theyve lived in for years is a nice but modest end of terrace in a working class area. They pay £100 a month mortgage and if we wanted to buy something similar despite both being professionals in our 30s we couldnt even begin to make the repayments.
Oddly enough they were chastising us for still renting and are absolutely convinced it is no harder for us to get on the housing ladder now than it was for them 30 years ago. My wife patiently pointed out what the monthly repayments would be if we were to try and buy a 3 bed house like them to which my father in law, somewhat grumpily, shot her down with "Yes well it might seem expensive now but house prices only ever go up so it doesnt matter."
If only wages only ever went up.0 -
Try reading the thread. The original poster states they own their property outright and have savings.All that we know is that they've paid off the mortagage on their current property. That doesn't mean that they also have £180,000 saved up. I bet you that some (probably most) of the £180,000 is going to come from from MEWing.
I even linked in the post that said so.
Here it is again
http://forums.moneysavingexpert.com/...5&postcount=20
Wanna still make that bet?
Stick to facts not assumptions
What sort of comparison is this?As to the rest of your rant, it's nonsense. My parents' combined salary in the mid-80s was probably less than mine is now in real terms, and they could afford a 3-bed new build on the outskirts of Edinburgh. Such a property would cost something like 7 or 8 times my salary now.
Could your single salary now, by a property back then? This is what you are effectively saying.
How about you had a partner and had a joint income, like you are comparing with your parents joint income.
If your partner earns roughly the same as you then your 7-8 times single applicant mortgaged becomes 3 1/2 - 4 times a joint mortgage.
Now that is an equal comparison and one which you could I presume afford.:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
I would bet most people in the 70's and before had a terrible time getting mortgages.ruggedtoast wrote: »My parents in law had a terrible time getting a mortgage in the 70s. .
This is my point.
Back then and it seems now, you had to bend over backwards to prove you were credit worthy to get a mortgage.
The last 15-20 years was the abnormality where the financial institutions practically were throwing them at you.
People need to realise we have headed back to normality, where you had to save a substantial deposit and prove your credit worthiness in order to get a mortgage.
The days of easily getting credit are leaving us and you need to take ownership of your finances if you want to be a property owner.:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
IveSeenTheLight wrote: »Try reading the thread. The original poster states they own their property outright and have savings.
I even linked in the post that said so.
Here it is again
http://forums.moneysavingexpert.com/...5&postcount=20
Wanna still make that bet?
Stick to facts not assumptions
What sort of comparison is this?
Could your single salary now, by a property back then? This is what you are effectively saying.
How about you had a partner and had a joint income, like you are comparing with your parents joint income.
If your partner earns roughly the same as you then your 7-8 times single applicant mortgaged becomes 3 1/2 - 4 times a joint mortgage.
Now that is an equal comparison and one which you could I presume afford.
If it's all savings and none of its MEWed then I stand corrected. Not that it changes my opinion that it would be a risky investment in the current economic climate, especially if they have no other pension provision.
On the second point I satnd by my argument though. My current single income is probably equivalent to their joint income, so my numbers are correct (although I admit it's a rough estimate on my part). To be honest, I think your argument is weak anyway. My great-great-great-grandparents probably couldn't afford their own property, but then some of them may have had to work as children. What would happen if people just accepted child labour as inevitable because our ancestors had to go through it?0 -
IveSeenTheLight wrote: »I would bet most people in the 70's and before had a terrible time getting mortgages.
This is my point.
Back then and it seems now, you had to bend over backwards to prove you were credit worthy to get a mortgage.
The last 15-20 years was the abnormality where the financial institutions practically were throwing them at you.
People need to realise we have headed back to normality, where you had to save a substantial deposit and prove your credit worthiness in order to get a mortgage.
Agreed... it was difficult in the 70s because you had to actually prove you could afford it.
They've scrapped those rules these days because almost NO-ONE would be able to meet the requirements now... the income/house price multiples are just to big.
The fact that it's become easy to take on unmanagable debt doesn't mean it's "easy to buy a house", it means it's "easy to buy a house then lose it".
Put simply, it's EASIER to BUY a house, but it HARDER to AFFORD it.Bankruptcy isn't the worst that can happen to you. The worst that can happen is your forced to live the rest of your life in abject poverty trying to repay the debts.0 -
Aaah Haaaaa!worrypants wrote: »squatnow IS Alan Partridge:rotfl:
see below
"I enjoy my life. I drive a convertible sports car, have a gorgeous blond GF 6 years my junior, and holiday 2-3 times a year. In fact I've racked up 12 flights in the last 12 month including business travel."Been away for a while.0 -
worrypants wrote: »squatnow IS Alan Partridge:rotfl:
see below
"I enjoy my life. I drive a convertible sports car, have a gorgeous blond GF 6 years my junior, and holiday 2-3 times a year. In fact I've racked up 12 flights in the last 12 month including business travel."
and (as he said) a little chubby.........we have a small commune of dead dishy types living on the seafront in vans (with solar panels, chimneys etc)...I walk along the beach to work and ogle as one does his tai chi towards the sea...very trim and fit! Am wondering if SQNW does ACTUALLY squat..or just believes in the principle of it.......our squatters opposite have no electricity.;)0 -
Back of the net.:Dand (as he said) a little chubby.........we have a small commune of dead dishy types living on the seafront in vans (with solar panels, chimneys etc)...I walk along the beach to work and ogle as one does his thai chi towards the sea...very trim and fit! Am wondering if SQNW does ACTUALLY squat..or just believes in the principle of it.......our squatters opposite have no electricity.;)Been away for a while.0 -
Am wondering if SQNW does ACTUALLY squat..or just believes in the principle of it.......our squatters opposite have no electricity.;)
I am currently renting. This is no secret. I do not squat personally, as while my rent includes all bills, it is so low as to be little more than I would pay in bills if I rented or squatted in a similar place. (Rent for a similar flat would be 30-40% more than I currently pay, and I'de have to pay bills on top!)
The "granny-anex" I live in was very dilapedated when I moved in and needed me to replace some of the wiring to make it safe for occupation. It now a very comfortable little batchelor pad. I've rewired it, put new lights in, knocked down a wall, built 2 new walls, built a breakfast bar, refitted the kitchen, converted the attic, fitted/tiled a new shower cubical.... the list goes on. I have done a lot of modernisation and maintenance work on the main house as a whole. My landlady pays for all the materials for work on the main house and the annex, I do the work. She also has common sense... accepting that stuff wears out and offering to replace furniture/carpets that have come to end of life.
I've been there 5 years now... have a very good relationship with my landlady. I've done a lot of maintenance work that would have cost a LOT of money to get done professionally, and in exchange shes charges nominal rent. As example would be when the ball-!!!! valve on the tank in the attic in the main house seized and the tank wouldn't fill. I did a temporary fix as the shops were shut then picked up a replacement valve from B&Q (Which she paid for!) and fitted it a couple of days later. Total time and effort for me... 20 minutes max! Cost to get an emergency plumber out at 11pm? £300?
The essence of Social Squatting is the the Squatters move into dilapidated houses and make them livable, tidying them up and making them pleasent homes. The owner has someone looking afer the house for them, (and paying the council tax for them) and when the time comes for them to use it, it is in a much better state than when they left it. In exchange the squatter gets somewhere to live for a couple of years... maybe longer. It's an important point to note about social squatting that NO-ONE loses out.
Incidently, was up in the attic(s) last weekend putting in some fresh insulation, as the old stuff was 30 years old and less than an inch thick. (The current standard is about 8 inches!)Bankruptcy isn't the worst that can happen to you. The worst that can happen is your forced to live the rest of your life in abject poverty trying to repay the debts.0
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