Mortgage advice - should we even bother?

skattykatty

Fair enough...thanks Simon. Not nasty at all. Totally understand where you're coming from. I know that I wouldn't bite off more than I could chew, just grates that we're paying the equivalent of monthly mortgage repayments (on the very modest house we would look for!) to a landlord...

Toughluck

Even if you were to do a sub prime self cert, at that loan to value there is not one lender in the UK present who do 80% self cert with adverse. The rate if you could get it would make you not buy anyway.

getmore4less

skattykatty wrote: »

Fair enough...thanks Simon. Not nasty at all. Totally understand where you're coming from. I know that I wouldn't bite off more than I could chew, just grates that we're paying the equivalent of monthly mortgage repayments (on the very modest house we would look for!) to a landlord...

Buying a house means renting money,

0.5% of a houses value compared to rent is about right for a very rough compairson.

So if that £175k house can be rented for less than £875 per month it is cheaper to rent.