You can not afford to buy a house if...

thriftychap_2

poppysarah wrote: »

• You have to have a gifted deposit.
• You whinge about not being able to afford stamp duty
• You extend the mortgage term over 25 years.
• You can afford it on the fixed rate but not if it went up.
• you can't save a deposit yourself
• you are looking at interest only mortgages
• you can only afford to be a % of a property

What a ridiculous and pointless post.:rotfl:

Orpheo

poppysarah wrote: »

Are you a banker?:rotfl:

Close, you need to stretch your mouth with your index fingers and say it.

Orpheo

poppysarah wrote: »

• You have to have a gifted deposit.
• You whinge about not being able to afford stamp duty
• You extend the mortgage term over 25 years.
• You can afford it on the fixed rate but not if it went up.
• you can't save a deposit yourself
• you are looking at interest only mortgages
• you can only afford to be a % of a property

Absolutely.

Gwhiz

thriftychap wrote: »

What a ridiculous and pointless post.:rotfl:

Or, to most of us, accurate!

ukcarper

Gwhiz wrote: »

Or, to most of us, accurate!

could you expand

quantic

We took a 30 year mortgage, and our mortgage payments are only about 16% of our income. Not everyone chooses a longer mortgage because they cant afford a shorter one .

mcc100

HAMISH_MCTAVISH wrote: »

Anyone that can access deposit or mortgage funding should do so soon, through whatever means possible, before prices start the inevitable next boom.

HAMISH_MCTAVISH wrote: »

You should be careful with the bad advice you're giving, it's against forum rules.

Talking to yourself again Hamish ? .........

tyllwyd

poppysarah wrote: »

• You have to have a gifted deposit.
• You whinge about not being able to afford stamp duty
• You extend the mortgage term over 25 years.
• You can afford it on the fixed rate but not if it went up.
• you can't save a deposit yourself
• you are looking at interest only mortgages
• you can only afford to be a % of a property

We would have failed on at least a couple of those points when we bought our first house in 1997.

harrup

HAMISH_MCTAVISH wrote: »

*sigh*

Prices are where they are because supply failed to keep up with demand. No other reason.

And seeing as how we're now building less houses than at any time since the late 1800's, and are about to see the biggest generation in history reach FTB age, then prices are going to be booming again soon enough.

Now stop this hpc propaganda nonsense. It's bad advice, against the forum rules, and you should know better.

Hamish, this is incorrect. Both in terms in building AND a new baby boom generation. Perhaps this is accurate for Scotland, or even parts thereof, but not for the UK at large.

Ever since Prescott declared gardens to be brown field sites people have been building like loons. Moreover they are many, MANY districts where the amount of houses have quadrupled in numbers over the last decade. There is NO shortage of houses, least of all for FTB.

I grant you, perhaps there aren't that many houses that a FTB - or any other buyer - WANTS to buy at the price demanded, but it is fallacious to state that this is due to a lack of available ones.

Gwhiz

ukcarper wrote: »

could you expand

Can't be bothered tbh. I agree with the OP.