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!
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
First Time Buyers At 20 Year Low
Comments
-
The lack of interest only above 75% is hindering a lot of ftb in my experience.
Classic case this morning. Whilst wife on maternity and unsecured debt repayments being made it suited the couple to go for interest only for the first 2 years. Ok not ideal, but perfectly ok, I myself did this when starting out and it suits thier finances for 2 years. In any event you pay a pitifull amount of capital in the first 2 years on a C&I basis. After 2 years she's back at work on £25k and debts gone so they can pound the capital.
No lender except Halifax would do it.
I doubt if they will be "pounding the capital" with a 2 year old in full time nursery.
It cost me more than £7k in nursery fees per year per child. And this was 4 years ago in Liverpool - not the most expensive place in the world.US housing: it's not a bubble
Moneyweek, December 20050 -
And what if they want another child after 2 years? Most do. Or if - a couple of years in to the economoic downturn - the mother's job is no longer available, or pays less, or hours have been reduced. Meternity breaks only last for 1 year - after 2 years, there is no guarantee at all of having any job to go back to.
I sincerely hope, Conrad, that you used your professional discretion to point out what a foolish, risky move that mortgage would be.
Or did you just take the money and run? :eek:0 -
Perhaps the 'Hovis kid' advert should be upgraded to see the child running home with his load of bread to find an empty house and a note on the table - "Working late to pay mortgage, make yourself a sandwich".0
-
And what if they want another child after 2 years? Most do. Or if - a couple of years in to the economoic downturn - the mother's job is no longer available, or pays less, or hours have been reduced. Meternity breaks only last for 1 year - after 2 years, there is no guarantee at all of having any job to go back to.
I sincerely hope, Conrad, that you used your professional discretion to point out what a foolish, risky move that mortgage would be.
Or did you just take the money and run? :eek:
Wife on maternity, with debt problems asking for a mortgage. That's probably the reason why there were few lenders."For those who understand, no explanation is necessary. Those who don't understand, dont matter."0 -
And what if they want another child after 2 years? Most do. Or if - a couple of years in to the economoic downturn - the mother's job is no longer available, or pays less, or hours have been reduced. Meternity breaks only last for 1 year - after 2 years, there is no guarantee at all of having any job to go back to.
I sincerely hope, Conrad, that you used your professional discretion to point out what a foolish, risky move that mortgage would be.
Or did you just take the money and run? :eek:
Lifes full of 'what ifs' at some point you just get on with it.Official MR B fan club,dont go............................0 -
kennyboy66 wrote: »I doubt if they will be "pounding the capital" with a 2 year old in full time nursery.
It cost me more than £7k in nursery fees per year per child. And this was 4 years ago in Liverpool - not the most expensive place in the world.
When will people think of the children?0 -
Graham_Devon wrote: »When will people think of the children?
I believe the children are the future.
Teach them well and let them lead the way.:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
IveSeenTheLight wrote: »I believe the children are the future.
Teach them well and let them lead the way.
Show them all the beauty they possess inside
Give them a sense of pride to make it easier'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
Long live the faces of t'wunty.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.2K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.3K Spending & Discounts
- 247.2K Work, Benefits & Business
- 603.8K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards