We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

Debate House Prices


In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non MoneySaving matters are no longer permitted. This includes wider debates about general house prices, the economy and politics. As a result, we have taken the decision to keep this board permanently closed, but it remains viewable for users who may find some useful information in it. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Missed the boat.

bluey890
bluey890 Posts: 1,020 Forumite
in Debate House Prices & the Economy
The availability of cheap debt is over. Which got me thinking.
How much more would my mortgage cost if I took it out post crash.

Looking at tracker mortgages, they're about two percent more expensive than when I took mine out.
The term of the mortgage is 25 years. And for arguments sakewe will call the 'average' outstanding balance half the house value.
Using crude maths 2% extra * 25years * 1/2 = 25%

It would cost me approximately a quarter more of my house to take out a mortgage now.
Wow, I am glad I didn't miss the boat. :D
Favourite hobbies: Watersports. Relaxing in Coffee Shop. Investing in stocks.
Personality type: Compassionate Male Armadillo. Sockies: None.
«1345

Comments

  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    To work all that out you must have been sat there desperately trying to convince yourself you've made the right decision.

    Did it work?
  • bluey890
    bluey890 Posts: 1,020 Forumite
    The simple maths only took a few seconds. Have trouble following them Graham? :)
    Favourite hobbies: Watersports. Relaxing in Coffee Shop. Investing in stocks.
    Personality type: Compassionate Male Armadillo. Sockies: None.
  • bo_drinker
    bo_drinker Posts: 3,924 Forumite
    Here we go again..............:naughty:
    I came in to this world with nothing and I've still got most of it left. :rolleyes:
  • Dan:_4
    Dan:_4 Posts: 3,795 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Graham_Devon wrote: »
    To work all that out you must have been sat there desperately trying to convince yourself you've made the right decision.

    Did it work?

    You need to look at the bigger picture Graham, interest rates, mortgage term, mortgage product etc. It would be very naive to only consider the ball point purchase figure.
  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Dan: wrote: »
    You need to look at the bigger picture Graham, interest rates, mortgage term, mortgage product etc. It would be very naive to only consider the ball point purchase figure.

    Huh? I didnt look at anything in the first place, apart from some !!!!!! in another window (which wasn't my fault, these nice pop ups keep popping up...honest).
  • Cleaver
    Cleaver Posts: 6,989 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Graham_Devon wrote: »
    Huh? I didnt look at anything in the first place, apart from some !!!!!! in another window (which wasn't my fault, these nice pop ups keep popping up...honest).

    I hope you don't visit that site as much as this one. You'll get RSI. Or go blind.
  • bluey890
    bluey890 Posts: 1,020 Forumite
    Graham_Devon wrote: »
    Huh? I didnt look at anything in the first place, apart from some !!!!!! in another window (which wasn't my fault, these nice pop ups keep popping up...honest).

    Out comes the chewbacca defense again. <sigh>
    http://www.urbandictionary.com/define.php?term=chewbacca+defense
    Favourite hobbies: Watersports. Relaxing in Coffee Shop. Investing in stocks.
    Personality type: Compassionate Male Armadillo. Sockies: None.
  • bluey890
    bluey890 Posts: 1,020 Forumite
    Cleaver wrote: »
    I hope you don't visit that site as much as this one. You'll get RSI. Or go blind.

    Must not report to MSE abuse...sooooo tempting...;)
    Favourite hobbies: Watersports. Relaxing in Coffee Shop. Investing in stocks.
    Personality type: Compassionate Male Armadillo. Sockies: None.
  • mewbie_2
    mewbie_2 Posts: 6,058 Forumite
    1,000 Posts Combo Breaker
    bluey890 wrote: »
    Nautical news
    I'm confused bluey. Had you down as a bear?
  • Cleaver
    Cleaver Posts: 6,989 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    mewbie wrote: »
    I'm confused bluey. Had you down as a bear?

    What would you have me down as Mewbs?

    Bit scared to ask, but hey...
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 352K Banking & Borrowing
  • 253.5K Reduce Debt & Boost Income
  • 454.2K Spending & Discounts
  • 245.1K Work, Benefits & Business
  • 600.7K Mortgages, Homes & Bills
  • 177.4K Life & Family
  • 258.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture