FTB expectations too high?

mbga9pgf

Cheapest mortgage I am looking at is 10 year fix with the brit BS @ 4.8something.

SandC

mbga9pgf wrote: »

Cheapest mortgage I am looking at is 10 year fix with the brit BS @ 4.8something.

If you can afford to have only a 10 year mortgage then you can afford to buy.

Really2

mbga9pgf wrote: »

Because I have already told you, I pay 450 per month for my quarter.

You live at home then or somthing subsidized then? (sorry not having a dig)

Found in interesting table to who lives in what.
http://news.bbc.co.uk/1/shared/spl/hi/guides/456900/456991/html/nn3page1.stm

So around 23m homes.

Single people occupy 34%

So 16% of the population live in 34% of the homes.
Sorry I think there is a shortage of "family homes" and over time unless sombody builds some more it is going to get worse and worse.

mbga9pgf

No, 10 year fixed, 20 year term.

mbga9pgf

Really2 wrote: »

You live at home then or somthing subsidized then? (sorry not having a dig)

Found in interesting table to who lives in what.
http://news.bbc.co.uk/1/shared/spl/hi/guides/456900/456991/html/nn3page1.stm

So around 23m homes.

Single people occupy 34%

So 16% of the population live in 34% of the homes.
Sorry I think there is a shortage of "family homes" and over time unless sombody builds some more it is going to get worse and worse.

How many single people live in 4 bed detatched homes?

flaw in your argument old chum!

The number of family homes has not decreased. The major increase in demand is from singlies living in flats. Not singlies living in 4 bed detached homes.

IveSeenTheLight

mbga9pgf wrote: »

ITs ok, my mortgage Interest on 150K at typical rates is still well in excess of the rent. I am putting away evey penny I can so in effect I am paying off double the capital every month I wait without taking into account of price drops.

But thanks for the advice.

Seem like your figures back up your decisions.
In other areas rent is higher than the mortgage interest.

I bought a 2 bed BTL in Jan 07 and the rent intake is almost double the mortgage interest even though the interest on this property is fixed at 5.5%

Really2

mbga9pgf wrote: »

How many single people live in 4 bed detatched homes?

flaw in your argument old chum!

With 16% (22% BY 2016 By the way) of the population over 65. I make that it could make up for 6.5M housolds(based on 1.5 in 2 surviving) with only 1 or 2 people living in them. (I would say a lot still live in 3 bed plus houses)

You are making it worse for FTB's;)

mbga9pgf

With 16% of the population over 65.

Not that much longer to wait then!! :rotfl::rotfl::rotfl:

The rest of them are MEW'd up on Stanna stairlifts and saga holidays!!!

IveSeenTheLight

mbga9pgf wrote: »

How many single people live in 4 bed detatched homes?

flaw in your argument old chum!

The number of family homes has not decreased. The major increase in demand is from singlies living in flats. Not singlies living in 4 bed detached homes.

Where did he say single people were living in 4 bed detached?
When I lived in the UK, there was my wife and I in a 4 bed for what it is worth.

Also interesting from the same link, the UK spends the lowest amount on housing (including maintenance and utility bills) than the other 4 major European Countries

Really2

mbga9pgf wrote: »

Not that much longer to wait then!! :rotfl::rotfl::rotfl:

In all seriousness I know their is a portral of plenty of property (espetialy amongst HPC)but as you said family homes are stagnent.
Old people have a habbit if staying in a house untill they are carried out. So I do think in the future an older population is going to store more housing problems for the next gen of home makers.