Uberbear Challenge

chewmylegoff

MrDT wrote: »

If I purchased for 10k less it'd save me maybe fifty quid a month over 25 years?

£50 a month would not see the stupid buyers in a "world of pain". Sorry, you didn't read the question properly, I have no choice but to disqualify you

Where's dopester? If anyone can win this challenge surely he's the man!

how dare you disqualify me. i hope when you move in your find that your neighbours got their identical house for £50k less a month ago!

lostinrates

Mr DT,

do you like the house?

do you think it offers you something special that will see you happy if others around drop in price? Is it a 'lifer?'

does the mortgage allow you to over pay, could you take it over a shorter term and be MF in a short time?



What do you want from life?

MrDT

Really2 wrote: »

I know my EA family member is selling repos at £60K from £130K peak.:eek:

View is repos have bottomed as they are selling like hot cakes. (people are compating for them)

Hmm, so the repo market could heavily undercut this non-repo (afaik) house.

Maybe if we waited for a repo we could buy for 50k. I would be kicking myself even harder. However, I wouldn't be in a world of pain.

Oh, and sorry Really2, I have to disqualify you, you're not even a bear, nevermind an uberbear... So far you have put across the best bear argument, but are still being disqualified. My thread, my rules :cool:

MrDT

chewmylegoff wrote: »

how dare you disqualify me. i hope when you move in your find that your neighbours got their identical house for £50k less a month ago!

Please see my previous post re: thread/rules/:cool:

MrDT

lostinrates wrote: »

Mr DT,

do you like the house?

do you think it offers you something special that will see you happy if others around drop in price? Is it a 'lifer?'

does the mortgage allow you to over pay, could you take it over a shorter term and be MF in a short time?



What do you want from life?

It hasn't wowed me, it's "ok".

Is it a lifetime house? Probably not, but if it had to be it could be.

Could I be mortgage free in a shorter time? Yes, by the time the fix came to an end we should have the option to repay the loan in full from savings (all being well).

Sorry to have to point this out LIR, but you've not presented any "world of pain" scenarios, you're dangerously close to a disqualification here. If NDG was still around she'd have raised an "objection" by now, it's alright though, I'd "overule" and give you a second chance. You seem like a decent sort, I give you the benefit of the doubt and pray you don't re-offend.

lostinrates

MrDT wrote: »

It hasn't wowed me, it's "ok".

Is it a lifetime house? Probably not, but if it had to be it could be.
The world of pain could then be the mental breakdown you have when the house you could have had as your dream house drops into affordabilty and you could have had it, but noone wants yours and your partner is screaming, and screaming that you made her(?) buy this crummy semi, even though you knew the market was still falling, you idiot.


Could I be mortgage free in a shorter time? Yes, by the time the fix came to an end we should have the option to repay the loan in full from savings (all being well). No world of pain

Sorry to have to point this out LIR, but you've not presented any "world of pain" scenarios, you're dangerously close to a disqualification here. If NDG was still around she'd have raised an "objection" by now, it's alright though, I'd "overule" and give you a second chance. You seem like a decent sort, I give you the benefit of the doubt and pray you don't re-offend.

I don't think I have oneTBH. If I were not motivated by a desire of anything other than a sturdy roof over my head I'd probably buy it.

I have to caveat that with saying I want to buy some thing I love and feel passionate about, and so its hard for me to consider buying something 'fine' and so if I were buying 'fine' I'd really want a fine at reposession bargain sort of money to reconcile me to that. In fact, for me, though I expect not for you, it would be a world of pain to not do so. Thats why for me this purchase would not make sense, but for you it sounds like it might.

You have to disqualify me anyway.

Although some people are convinced I'm a bear because I'm currently bearish, I'm neither and some of the purchases I've considered are more bullish than those that allign with the bulls. I do what is sensible for me at the time. For me that potentially includes higher than bearish salary multiples. I have to say though, I do have a moral objection to what appears to be systemic fraud in recent times with mortgage borrowing and some poor practice in some developers/btls.


ETA: you didn't answer last question. That would really be the answer to whether this is the sensible purchase...financially and otherwise..or your ''world of pain''

Cleaver

purch wrote: »

What if you are Candlestick Maker ??

What would you do for work ?

You could be a self employed Candlestick Consultant. Work with groups of Candlestick Makers on their attitudes, behaviours and wax techniques. Rent out a conference room at the local Holiday Inn, £350 per delegate per day, jobs a goodun.

chewmylegoff

Am I the only one who is deeply angered by Mr DT's inconsistent approach to the disqualification criteria. I feel that the lack of transparency is extremely unfair. I also feel the failure to properly define the term "world of pain" up front has created unnecessary confusion. Frankly I feel that Mr DT should resign.

lostinrates

chewmylegoff wrote: »

Am I the only one who is deeply angered by Mr DT's inconsistent approach to the disqualification criteria. I feel that the lack of transparency is extremely unfair. I also feel the failure to properly define the term "world of pain" up front has created unnecessary confusion. Frankly I feel that Mr DT should resign.

No, I've benefitted from it...so far. Mr DT is always quite sweet actually.

MrDT

Sorry, no time to post deserving replies, I have to literally get on my bike - and I'm burning daylight!

With a bit of luck I'll be home in an hour and this thread won't have descended into namecalling. Mods, don't delete please - genuine thread about a genuine FTB quandry.

Ok, so you know that bit on who wants to be a millionaire? The bit where the new guy has just got up to the £500 question, and suddenly they're out of time already? Nothing exciting has happened yet and you have to wait until tomorrow until things start getting good? That time is now. Except, it'll be an hour, not tomorrow. And the audience can fling custard pies at each other whilst Tarrant is cycling home.