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.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. 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!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
We're aware that some users are currently experiencing slow loading times and errors on the Forum. Our tech team is working to resolve the issue. Thanks for your patience.
opinions please, which is better?
Comments
-
Manual_Reversion wrote: »
I'd echo princeof pounds' sentiment with regard your mortgage rate. It's eye-watering; nearly 7% above base rate.
I'd be extremeley wary of purchasing anything at the moment, particularly an ex-local authority flat, unless you can see yourself happily living there for five years or so as we go through this painful transition, and have enough cash (20% with good credit rating) to secure a decent mortgage rate.
No apologies needed, your response was great. I know I'm taking a bit of a risk but it's swings and roundabouts - decent mortgage ranges come with higher house prices, at least this way I can afford something for the future. I have rented, a room at £300 inclusive, and a similar flat would be 425-450ish. I might have overstated the case with moving in three years, I am further out than I would like but nothing awful. An extra two years would make little difference overallEmergency savings: 4600
0% Credit card: 1965.000
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.4K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604.1K Mortgages, Homes & Bills
- 178.5K Life & Family
- 261.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards