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Debate House Prices
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UKs biggest lender ends IO mortgages without evidence.
Comments
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Sorry. I forgot that interest payments aren't a measurable expense in bull land.
Sorry, I forgot that bears can't read past the first bit of the post.
Here's the second bit again for you.HAMISH_MCTAVISH wrote: »6% rental yield for these houses, versus 2.5% average mortgage interest paid since then.
That's around 14% ahead for the buyer in just 4 years...... Plus HPI of course.....
Call it the best part of £50,000 ahead, versus renting, on a 200K house.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
Very childish I know, but it'll be a cold day in hell when I don't laugh at a good old 'your mum' gag.
Better put masking tape rounds your ribs then before you read this one:
http://www.creditcrunch.co.uk/forum/topic/8143-an-irish-pimperne1/page__st__250 -
Better put masking tape rounds your ribs then before you read this one:
http://www.creditcrunch.co.uk/forum/topic/8143-an-irish-pimperne1/page__st__25
That did make me chuckle.
More importantly though, do you lot actually have the same usernames and go around having exactly the same arguments on a number of other forums?! For f*ck's sake people, let's gain some perspective here! Get out in to the sunshine and let it go, it's just house prices. Holy sh*t, the mind boggles. Am I the only one who only posts here and still manages to almost cry at the wasted time I seem to spend here against my better judgement?!0 -
That did make me chuckle.
More importantly though, do you lot actually have the same usernames and go around having exactly the same arguments on a number of other forums?! For f*ck's sake people, let's gain some perspective here! Get out in to the sunshine and let it go, it's just house prices. Holy sh*t, the mind boggles. Am I the only one who only posts here and still manages to almost cry at the wasted time I seem to spend here against my better judgement?!
Is that the voice of a man who has posted over 5k times?!0 -
RenovationMan wrote: »I would say that it makes no real difference whether I have an interest only mortgage or repayment one when rates start to rise. Strip out the repayment part of the mortgage and both will cost the same amount.
Really ?
I think you are wrong again, but I'll change my mind if you prove otherwise.
I've just added "again" after the word "wrong".30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
Is that the voice of a man who has posted over 5k times?!
Touche. Over three years though, and I genuinely only ever post on this forum. So that's less than 5 posts a day. I kinda see this forum a bit like when I smoked: I know it's bad for me, and know that one day I'll quit. But if I can keep it to five a day then it's not too bad. And I secretly really enjoy it, in a weird 'not sure why' kinda way.
I wasn't really meaning to belittle anyone, I just found it genuinely surprising that people have the time or inclination to have exactly the same arguments, with exactly the same people, on multiple forums.0 -
Touche. Over three years though, and I genuinely only ever post on this forum. So that's less than 5 posts a day. I kinda see this forum a bit like when I smoked: I know it's bad for me, and know that one day I'll quit. But if I can keep it to five a day then it's not too bad. And I secretly really enjoy it, in a weird 'not sure why' kinda way.
I wasn't really meaning to belittle anyone, I just found it genuinely surprising that people have the time or inclination to have exactly the same arguments, with exactly the same people, on multiple forums.
To be honest, most of us were banned in the early days from HPC when being a bull was not tolerated (much more likely to survive nowadays). The other forum CreditCrunch doesn't have much participation any more - indeed the most action it gets is when the anti establishment cadre manage to find something to complain about. Geneer is a bit of a hero on there and myself and some of the others on here are the villains. There are actually a couple of posters on there whose stuff is worth reading and I suppose that's why we pop back now and again.0 -
RenovationMan wrote: »Dare I answer this without then getting accused of 'seeking reassurance' because I reply honestly to direct questions on a discussion forum?
To direct this conversation back to interest only mortgages and reply to your question at the same time, I would say that it makes no real difference whether I have an interest only mortgage or repayment one when rates start to rise. Strip out the repayment part of the mortgage and both will cost the same amount.
So would you be able to afford a repayment mortgage on your rather large project at say 5%?0 -
Every single person i know who took out an interest only mortgage did so because they couldnt afford a repayment mortgage, every single one of them.
Not true for me - I know lots of people who have I/O mortgages, because lots of my mates are barristers, and therefore self-employed. It makes sense to have a fixed lower payment, to help cash-flow the months where you get £350 in cheques coming in, and then pay a chunk off when you get a nice cheque in....much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
HAMISH_MCTAVISH wrote: »I'm sure you missed an "in my opinion" there.
I suspect the numbers that couldn't afford a repayment mortgage were vanishingly small.
Have a quick look at the mortgages / house buying etc boards here. You'll see a lot of 'em about.
For example:
We asked questions like what happens after the fixed rate and she reassured us 'just fix it again' or get a better deal, we did ask about a repayment mortgage but she said it would be to tough!
When we took out the mortgage of course our aim was to own the house and provide security for our children but we were advised to get on the ladder starting with interest only and was advised against repayment to start!
https://forums.moneysavingexpert.com/discussion/3173102...much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0
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