Land Registry Prediction

geneer

ukcarper wrote: »

The way I understand it Percy wants to buy a house that he will stay in so the mortgage he pays on that will be all his housing costs so if he rents for a couple of years that will be additional spending. He might be lucky and house prices might fall more that the rent he pays but then again he might not.

You don't seem to be able to grasp what a "deposit" is Carper.
Or how you would normally go about aquiring the same.

Pimperne1

geneer wrote: »

Why don't you? Oh yeah I forgot. You're the only person from the UK forum to be banned. :rotfl:

Again, you are 100% wrong.

But why don't you post it?

ukcarper

geneer wrote: »

You don't seem to be able to grasp what a "deposit" is Carper.
Or how you would normally go about aquiring the same.

I wish you would talk sense. I have already said that it makes sense for Percy to stay at home with his parents and save.

Percy1983

It certainly does make sense for me to stay put and save and that is the plan, I understand the idea of saving longer and getting a bigger deposit but to be honest there is more to life than saving money on my mortgage.

The end of the day I (and my better half) are both coming up to 28 and we still have a wedding and 2 kids to get out of the way so paying a little more on the mortgage doesn't worry me, as said the intention is to overpay and maybe move onto an offset mortgage later.

In short I am just going to look at the monthly payments and the effects of interest rate rises on said payments and go from there.

As it is we plan to start looking at houses when we have 10% (of the type of house we are looking at), but with the rate of saving we wil have we will probably slip into 15% anyway.

As I say I just want a home with my wife to be so we can get on with the rest of our lives.

ukcarper

Percy1983 wrote: »

It certainly does make sense for me to stay put and save and that is the plan, I understand the idea of saving longer and getting a bigger deposit but to be honest there is more to life than saving money on my mortgage.

The end of the day I (and my better half) are both coming up to 28 and we still have a wedding and 2 kids to get out of the way so paying a little more on the mortgage doesn't worry me, as said the intention is to overpay and maybe move onto an offset mortgage later.

In short I am just going to look at the monthly payments and the effects of interest rate rises on said payments and go from there.

As it is we plan to start looking at houses when we have 10% (of the type of house we are looking at), but with the rate of saving we wil have we will probably slip into 15% anyway.

As I say I just want a home with my wife to be so we can get on with the rest of our lives.

That all sounds very sensible to me I know that this is a money saving site but there is more to life than trying buy your house at the optimum price.

geneer

Pimperne1 wrote: »

Again, you are 100% wrong.

But why don't you post it?

Am I?
Correct me if i'm wrong, but I'm pretty sure PG asked for it.

geneer

ukcarper wrote: »

I wish you would talk sense. I have already said that it makes sense for Percy to stay at home with his parents and save.

Equally, it would make sense to rent whilst saving a deposit too.

robmatic

geneer wrote: »

I'm confused. A few posts ago you were suggesting interest rates were going to be increasing, now you're telling us they will be exceptionally low long term.

Even if prices remain unchanged it will also make perfect sense to carry on saving that deposit.

Equally, it would also make sense to buy as soon as you have the deposit in place if that was the case.

MFW_10YRS_4

geneer wrote: »

Equally, it would make sense to rent whilst saving a deposit too.

Not if it costs you more to 'rent and save' than it would cost to 'buy and save', which is unlikely if you rent a room from parents.

geneer

robmatic wrote: »

Equally, it would also make sense to buy as soon as you have the deposit in place if that was the case.

Provided you knew interest rates would not rise, house prices would not fall, and that your interest payments are less than your rent would be.

Either way, you still need the deposit.