So will interest rate rises have very little impact?

moneysaver84_3

RenovationMan wrote: »

I'm older and I'm at home!

Just been reading '50% Home Ownership Challenge!'

Looks like you are progressing well and sound planning advice too, will keep following!

olly300

benb76 wrote: »

This seems to contradict with your signature, what's the deal there?

He's had some serious trouble - leave him alone.

I know adults of all ages who live with their parents.

It makes sense when the parents are getting more feeble as if they do end up needing a lot more care, there won't be such a big shock to either party.

Percy1983

yorkshirekev wrote: »

You are definitely right there. In Yorkshire, you are considered less of a man if you still live with your parents in your twenties. Same if you don't have a car.

Most young lads will have their cars bought on finance though.

I am on the other side of the hills on the better side (Lancashire)

With that I don't know anybody who thinks badly of me still living with parents, but maybe thats down to the social circles I mix in as I am sure there is many people not to far from me who would think badly of it.

In short I don't play keeping up with the joneses any more, a friend has a faster car, but mine is paid for. Another already has a house but is in major NE as he got a 125% mortgage a back in 2008. In short I am doing what is best for me (and my beautiful fiancee) and if anybody wishes to look down on me for it then that is there problem.

Graham_Devon

Martin Ellis, Halifax, is now stating:

A prolonged period of low interest rates will also keep up the supply of affordable mortgages. “As a result, we do not expect to see a significant fall in house prices,” Ellis said.

So if it makes no difference and doesn't create price falls, howcome it bolsters the current prices up?

It's also nice to see that those arguing that interest rate rises will make no difference to house prices, have decided to ignore this thread

adr0ck

base rate will not rise for probbaly 5 years or more

therefore this thread is a bit pointless imo

RenovationMan

moneysaver84 wrote: »

Just been reading '50% Home Ownership Challenge!'

Looks like you are progressing well and sound planning advice too, will keep following!

LOL, I was beginning to think I was alone on it .

Thanks for reading. When I get a spare minute I will be putting more photos on there, especially ones of the renovation of my parents house and of my amazing Heat Bank system (looks like something off Doctor Who).

benb76

RenovationMan wrote: »

I am older and I was at home. Today I'm older and at the office.

As far as having my parents with me, they live in a one bed apartment converted from a former stable block. We're just renovating it - totally gutting it and they are currently living in my 5th bedroom (its huge, so they have set it up as a bedroom and living room).

The builders on their apartment are currently ripping up the concrete base and will be installing an insulated limecrete slab with underfloor heating. We are also putting in a new roof with roof windows and a LOT of Kingspan insulation in and under the rafters. They will also have a lime and hemp mix plaster put on the internal walls. All of this will really increase the u value of their apartment and keep them toasty warm in winter and cool in summer. Other bits to install is a new kitchen, bathroom and fitted bedroom and a heat recovery ventilation system. Its a major stress but the apartment will be lovely, very environmentally sound and very comfortable for my Mum n Dad. We're kinda overspeccing the apartment (travatine floors, high end kitchen and bathroom and quartz worktops) so that we wont have to distrupt them again over the next (hopefully) 20 years of them living there.

Sounds like a great project. I don't think I'm nitpicking on saying that your situation, whereby you're providing a temporary roof for your parents, is completely different from MS84 who's still living in his parents' house and having his tea cooked by his mum!