Mortgage for a new borrower significantly below LT averages

michaels

What is the definiton of 'disposable' income?

What are the mortgage payments, IO or repayment?

Percy1983

Thankyou for posting it back up, so in fact I posted the same badly worded question 3 times (from memory) as you wouldn't answer the question. So I infect made that statement once (and repeated it)

The context is actually clearer when you look at the question it full form, instantly you can see I used the term mummies boy which I don't agree with too.

So the actual point of the question is:

As you believe people are either stupid for paying somebody elses mortgage or a mummys boy for living at home they lose either way in your mind. What should they do?

As mentioned before the question was badly worded and I can see how context could be confused, to which I do apolgise if I caused any offense.

So I will go back to repeating questions, but this one the context is perfectly clear.

When did my mummy help me out?

+ I will add a question:

Why are you so bitter?

Mr._Pricklepants

Stop squirming Percy.

Don't know about mummy, but didn't your girlfriend bail you out?
Or did you turn that 28K debt into a house buying position with deposit saved and all that in just 3 years just by hard work at 17K gross per year?

Conrad

nollag2006 wrote: »

So the real issue is not affordability - it is availability of credit to homebuyers. Houses are perfectly affordable.

As soon as mortgage rationing ends (some way off yet) house prices across the country will rocket,

What I've said for some time, affordability is not an issue in much of Britian. It's about what you term rationing, but what is in fact a lot to do with over regulation of what was in fact an ordered market with a low delinquency ratio.

One day people will realise this.

IveSeenTheLight

Guys, seriously.
To re-emphasize Generali's post

Generali wrote: »

drop this crap. It's bullying and it's boring.

If you have something to add to the conversation then add it. This petty sniping is pathetic IMO.

I'm already putting money away for my childrens future.
It's not about them being a mummy or daddy's boy / girl, it's about good old fashioned family traits and about wanting to provide as best as we can.
It's about preparing them for the future and how to deal with it.

I genuinely feel sorry if the youth are forced or choose to stay at home for longer, but it sure as hell is a better choice than running up debts you can't afford.

My kids will be "taxed 20%" for all their income.
When they buy their own place, they'll be surprised to receive their "tax" back as a nice starter for their life.

I'm sure they'll be surprised how much will be put away over the years.

Graham_Devon

nollag2006 wrote: »

And your evidence for this wild assertion?

Do I actually need evidence?

It's all around you, though I do agree, if you look at the figures you have posted in the way you wish to look at them, you may well miss the evidence around you stating otherwise.

The bit you have posted suggests for those buying, and those moving home, repayments are at a low level.

This will be true. If payments were not at a low level at 0.5% interest rates compared to a norm of around 5%, there would be something rather weird going on.

It also states that people who have BOUGHT and therefore, can, by definition, afford to buy, find it affordable.

You cannot deduct from that that houses are therefore affordable. They are affordable to those who have bought.

However, I personally believe you, and others, WANT to believe that because the data from a specific dataset looking at only those who can afford to buy....houses are affordable for all.

I can't help you with what you wish to believe. All I can do is look at the data for what it is. It's been said many many times before, just because bentley owners can afford a bentley, it doesn't mean bentleys are affordable for all. If you wish to believe that they are, theres not really much any of us lot can do.

Percy1983

IveSeenTheLight wrote: »

Guys, seriously.
To re-emphasize Generali's post


I'm already putting money away for my childrens future.
It's not about them being a mummy or daddy's boy / girl, it's about good old fashioned family traits and about wanting to provide as best as we can.
It's about preparing them for the future and how to deal with it.

I genuinely feel sorry if the youth are forced or choose to stay at home for longer, but it sure as hell is a better choice than running up debts you can't afford.

My kids will be "taxed 20%" for all their income.
When they buy their own place, they'll be surprised to receive their "tax" back as a nice starter for their life.

I'm sure they'll be surprised how much will be put away over the years.

Sorry I do feel the need to correct things when incorrect things are posted about me.

As it is I wish I was as fortunate as that, I got nothing, I still got there in the end.

PaulF81

We are paying 29 pc single salary, 20 pc joint.

ess0two

Graham_Devon wrote: »

Do I actually need evidence?

It's all around you, though I do agree, if you look at the figures you have posted in the way you wish to look at them, you may well miss the evidence around you stating otherwise.

The bit you have posted suggests for those buying, and those moving home, repayments are at a low level.

This will be true. If payments were not at a low level at 0.5% interest rates compared to a norm of around 5%, there would be something rather weird going on.

It also states that people who have BOUGHT and therefore, can, by definition, afford to buy, find it affordable.

You cannot deduct from that that houses are therefore affordable. They are affordable to those who have bought.

However, I personally believe you, and others, WANT to believe that because the data from a specific dataset looking at only those who can afford to buy....houses are affordable for all.

I can't help you with what you wish to believe. All I can do is look at the data for what it is. It's been said many many times before, just because bentley owners can afford a bentley, it doesn't mean bentleys are affordable for all. If you wish to believe that they are, theres not really much any of us lot can do.

I'd love to have a mortgage rate of 0.5%.

Graham_Devon

Percy, do us a favour mate, and stop replying.

Asking Nollag has got everyone no where.