Scared to go from deposit saving to mortgage paying..

sinbad182

My opinion makes me someone who can spot the obvious lack of impartial advice thats going to be available from someone called 'Bullfighter'

BitterAndTwisted

Jay83: if you're uncertain now perhaps do nothing but carry on saving for the next 12-18 months then maybe consider using only part of your savings-pot as a deposit. The employment situation is rather uncertain right now and it's very, very difficult these days for people on an average salary to pay a mortgage and all the other associated costs on their own. One possible solution might be to buy a house and take in a lodger. The Revenue's Rent-A-Room scheme means you can charge a lodger about £4k per annum without having to declare it as income and pay tax on it.

Bullfighter

sinbad182 wrote: »

My opinion makes me someone who can spot the obvious lack of impartial advice thats going to be available from someone called 'Bullfighter'

Opinion is exactly that.

This guy is asking for thoughts on saving and buying.

I offered my opinion.

You have offered nothing except trying to 'out me' as a troll.

Davesnave

sinbad182 wrote: »

Davesnave, look at the above guys login name before attempting to engage him in an objective conversation on property ownership.

Thanks, but I have added my tuppenceworth and I will leave it up to the OP to decide who is obviously biased.

TBH I'm a bit surprised my post evoked such a response, as I gave an alternative view and I wasn't rubbishing it, only suggesting that investing might not work for everyone, partly because it involves more self-discipline. The OP looks to have plenty of that.

No, I'd not be in a hurry to buy ATM in the OP's position. We STR'd in late '08 & only bought because the rare 'right thing' for us came up, and because I'm no spring chicken!

The main thrust of what I said stands; people ought to have a strategy, rather than drift along, and every strategy will carry risks.

missile

Bullfighter wrote: »

Home ownership is a very secure feeling. Owing hundreds of thousands of pounds in the depths of the worst economic crisis in over 100 years* is a whole lot worse

I don't owe hundreds of thousands of pounds to anyone and I doubt the OP was planning on that either.
This is not the worst economic crisis in over 100 years *

Bullfighter

Davesnave wrote: »

Thanks, but I have added my tuppenceworth and I will leave it up to the OP to decide who is obviously biased.

TBH I'm a bit surprised my post evoked such a response, as I gave an alternative view and I wasn't rubbishing it, only suggesting that investing might not work for everyone, partly because it involves more self-discipline. The OP looks to have plenty of that.

No, I'd not be in a hurry to buy ATM in the OP's position. We STR'd in late '08 & only bought because the rare 'right thing' for us came up, and because I'm no spring chicken!

I guess you are referring to me here.

I challenged your assertion that anyone who warns against taking on debt in this environment is somehow 'not cut out for home ownership' because 'it involves more self-discipline'.

I provided my outline of why I take the position I do.

Call me a troll or biased if that makes you feel better. I'm not stopping the OP from making any decision, and frankly all of our advice is worth exactly what he paid for it.

Bullfighter

missile wrote: »

I don't owe hundreds of thousands of pounds to anyone and I doubt the OP was planning on that either.
This is not the worst economic crisis in over 100 years *

Really? Care to back that up?

sinbad182

A little something from the 30s called the great depression was kinda bad...

Bullfighter

sinbad182 wrote: »

A little something from the 30s called the great depression was kinda bad...

"kinda bad... "

hmm well with that kind of water tight analysis I should really concede the argument.

However, just for kicks, can you provide some macro economic evidence to back up your position?

sinbad182

No, I'm not going to provide evidence to prove that the worst worldwide economic disaster in modern history was a lot worse than what we're experiencing now. I suspect you're just being disingenuous by questioning it's severity, but if you actually believe there's any comparison between the GD and the current crisis then I suggest you rethink your opinions a little.