Sod it - Im buying!

Jules100_2

I'm fed up with all the doom and gloom! Also fed up with paying someone else's mortgage, Ive got a good stable job, as has my partner and both our incomes are certain to rise (he's in armed forces and due promotions etc and Im on a steep career ladder in the NHS)
We've just made an offer, have a 85% mortgage deal in process - the repayments are only £50 a month more than our current rent. We've found a lovely 3 bed in a lovely family area and can't wait to move in. We're paying £35K less than it sold for 2 years ago. So maybe house prices will fall for a bit to come or maybe we've reached the bottom or maybe the recession will last 100 years but either way we'll have our lovely house that we can afford and after 25 years it'll be ours and certainly worth more!
And if we have to move cos of our jobs.. well we can afford to pay the mortgage and rent on a cheap place somewhere else too - not ideal but we could do it.
I just wanted to share a little of my optimism in a forum that seems very gloomy at the moment! (call me naive but I'll be naive and cosy in our new home soon)

ahusband

yaaaay go u! goodluck! im moving in on the 29th to our new house and im excited too, so excited i ordered a washing machine which is sat in my living room!

Jules100_2

Haha I found myself strolling around B&Q yesterday looking at bits for the new house too! Congrats on your new home too

suisidevw

awesome news, congrats!

pizzagirl

Jules100 wrote: »

We've just made an offer, have a 85% mortgage deal in process - the repayments are only £50 a month more than our current rent. )

Good luck. although please don't assume that interest rates will stay at 0.5% for very long and that your mortgage repayments won't rise substantially in the near future.

00ec25

I think you have made a very wise move, I bought my first house during the 1990's housing crash because I wanted to live in it, not because it was "affordable" or a good "investment". I have very happily been there 15 years now and frankly don't care what its worth, it's my home.

rs82uk

Jules100 wrote: »

I'm fed up with all the doom and gloom! Also fed up with paying someone else's mortgage, Ive got a good stable job, as has my partner and both our incomes are certain to rise (he's in armed forces and due promotions etc and Im on a steep career ladder in the NHS)
We've just made an offer, have a 85% mortgage deal in process - the repayments are only £50 a month more than our current rent. We've found a lovely 3 bed in a lovely family area and can't wait to move in. We're paying £35K less than it sold for 2 years ago. So maybe house prices will fall for a bit to come or maybe we've reached the bottom or maybe the recession will last 100 years but either way we'll have our lovely house that we can afford and after 25 years it'll be ours and certainly worth more!
And if we have to move cos of our jobs.. well we can afford to pay the mortgage and rent on a cheap place somewhere else too - not ideal but we could do it.
I just wanted to share a little of my optimism in a forum that seems very gloomy at the moment! (call me naive but I'll be naive and cosy in our new home soon)

Is the deal you are on fixed or svr?

Jules100_2

We're only really interested in fixed. Best 2 options are - fixed at 4.9% for 2 years or 5.9% for 5. Think we're going to take the 2 year one although Im tempted by the 5 year... lol me and partner both have differing views! We can repay 20% extra a month with no penalty and I think we'll do this for the whole time.

gabyjane

Ah what a joy this post was to read!! Congratulations on your new home to be, hope you will be very happy there!
We bought end of 2007 and I love our house, it is shared ownership and newbuild so gets a lot of slating on here but i really don't give a hoot! Like 00ec25 said this is our home to live in, not an investment!!

elliebobs

Thank you , Thank you , Thank you!!!!!!!! at last, someone who is not full of doom and gloom about how anyone who buys a house now is a fool. Yes, the market may fall further but unless you have a crystal ball no one knows what is going to happen. A house doesn't necessary have to be a cash cow; it can also be a home!
I hope you have many happy years in your lovely new homes regardless of when you bought them and at what price!

Kat_9Lives

I'm also delighted to see this thread! People buying houses to use as a HOME!!! So refreshing when so many people talk about property as investment or rung on the ladder etc. apparantly missing the fact you have to live in it.

I'm neither a buyer or seller so no vested interest in talking the housing market up.

I do hope all the home buyers have many happy years in their new homes though!