Find the Nicest House for £45k...

StevieJ

PasturesNew wrote: »

I looked twice, didn't spot it was an auction. Doh. They don't make it easy do they!

So we are allowed to pick houses in Stoke, Me Duck

StevieJ

Here is a flat in Grimsby, mmmm the fish and chips are likely to be tasty at the local chippy and you have a holiday resort on your doorstep

http://www.rightmove.co.uk/property-for-sale/property-27742696.html

SandC

Blacklight wrote: »

More importantly I think you should be asking why anyone earning just above minimum wage should be allowed to borrow £45,000 to buy a house. That's the kind of money someone with a years experience at McDonald's might earn at the age of 18.

Isn't this the kind of irresponsible lending that people are jumping up and down about?

Would you lend a school leaver £45k of your money?

£15k on a 37.5 hour work is almost £7.70 per hour which is way above the min wage and in areas where there are houses for sale at £45k is more like the local average wage. Min wage is just over £11,600 for a 37.5 hour week.

LilacPixie

Blacklight wrote: »

More importantly I think you should be asking why anyone earning just above minimum wage should be allowed to borrow £45,000 to buy a house. That's the kind of money someone with a years experience at McDonald's might earn at the age of 18.

Isn't this the kind of irresponsible lending that people are jumping up and down about?

Would you lend a school leaver £45k of your money?

Well we were working on the basis of 15k a year so roughly 1k net a month. 45k over 25 years at 7% repayment is £321 a month. Add in council tax and utilities so say another 179 and we have a home owner with £500 left for food, travel to work and general living. Doesn't sound that bad for a single person TBH. If the applicant has a good credit history, can afford repayments which IMO you can on a 15k salary then I don't consider it to be irresponsible lending.

split_second

PasturesNew wrote: »

Oh dear .... a repossession "We advise that an offer has been made for the above property in the sum of £45,000" - and it sold for £86k at the peak http://www.houseprices.co.uk/e.php?q=14+Shaw+Street%2C+Bury%2C+BL9+7QD

mine was a repo, i found out there was £30k more than i bought it for owing on the mortgage :rotfl:

Oldernotwiser

PasturesNew wrote: »

That's big in my experience. You should try living in most studios, they're as small as small can be for the shower.

It's big enough if the loo and basin are on the same wall - in that house they're facing each other.

michaels

Do I win?

http://www.rightmove.co.uk/property-for-sale/property-17238300.html

5 bed in Croydon for 27.5k - sadly I suspect it may be a miss-price.

Brallaqueen

http://www.rightmove.co.uk/property-for-sale/property-17158851.html

But it IS in Corby...they are an odd lot around there.

jw2003

found one:

http://www.rightmove.co.uk/property-for-sale/property-26240848.html

miamoo

Have we had this one? LINK

And this one LINK

Both abit over budget but everyone else has cheated abit lol!