The 25 year fixed rate mortgage returns to the UK market....

HAMISH_MCTAVISH

DpchMd wrote: »

Seems incredible to think that I could be paying nominally the exact same monthly repayment in 20 years as I am today.

Indeed.

Completely eliminates the "risk" of rates "shooting up". :rotfl:

(Of course, that risk only really exists in the heads of a small group of crashaholics)

I suggest all those board members who are (pretending to be) sitting on huge deposits while renting think long and hard about the long term benefits of taking this deal versus continuing to rent.

Well it's certainly removed one excuse for them not to buy.

I predict a rapid change of tack with their arguments though...

homelessskilledworker

DpchMd wrote: »

Seems incredible to think that I could be paying nominally the exact same monthly repayment in 20 years as I am today.

I suggest all those board members who are (pretending to be) sitting on huge deposits while renting think long and hard about the long term benefits of taking this deal versus continuing to rent.

I just love these 24/7 property rampers:)
They find it hard to believe that many of those renting are saving up good sized deposits, but yet on another ongoing thread they think any FTB earning less than £40k a failure.

I can well understand you having this thought about how the hell can anyone be saving in this climate. There are so many people out there that are just drowning in debt(many of them I am certain are posting on here including you DpchMd) that having a surplus of money is just alien to what you are feeling yourself, along with many others I might add.

There are many of us in the UK that go to bed each night not burdened by the fear of debt, believe what you want to believe pal, and I feel really sorry that you have to feel that way.

moneyinmypocket

HKW - only you know your situation however most on forums fall into these camps (so they say)

Renter - has money in bank and waiting

Homeowner - has large eq in house and not in NE

DpchMd

homelessskilledworker wrote: »

I just love these 24/7 property rampers:)

You must have mistaken me for someone else.

homelessskilledworker wrote: »

They find it hard to believe that many of those renting are saving up good sized deposits.

I find it hard to believe that the vocal minority doomsters on this forum are able to afford to buy a home. Nothing unreasonable about that. Minority is the key word here because the amount of people who can afford to buy a home but choose not to will be very very rare (probably as rare as the lowest IQ band, if you know what I mean).

homelessskilledworker wrote: »

but yet on another ongoing thread they think any FTB earning less than £40k a failure.

No idea what you're talking about.

homelessskilledworker wrote: »

I can well understand you having this thought about how the hell can anyone be saving in this climate. There are so many people out there that are just drowning in debt(many of them I am certain are posting on here including you DpchMd) that having a surplus of money is just alien to what you are feeling yourself, along with many others I might add.

My only "debt" is my mortgage.

homelessskilledworker wrote: »

There are many of us in the UK that go to bed each night not burdened by the fear of debt, believe what you want to believe pal, and I feel really sorry that you have to feel that way.

Hey, money's not everything. If you're happy to make a huge financial mistake because you have an irrational fear of "debt" then fair play.

Graham_Devon

DpchMd wrote: »

Seems incredible to think that I could be paying nominally the exact same monthly repayment in 20 years as I am today.

I suggest all those board members who are (pretending to be) sitting on huge deposits while renting think long and hard about the long term benefits of taking this deal versus continuing to rent.

I certainly would if I was sitting on the cash, though Hamish appears to believe you'd be silly to do so.

I would imagine the money for this deal will be miniscule, and you'd have to be very lucky to get it. If you can get it though, it seems all too good to be true.

What's not to like about the peace of mind this brings? Sure, you may be paying a percentage point more, but for peace of mind, that's money well spent in my view. Others still appear to see the very short term though.

Thrugelmir

DpchMd wrote: »

Minority is the key word here because the amount of people who can afford to buy a home but choose not to will be very very rare

Maybe the largest category is the people that are being trapped by paying rapidly increasing rents. Thereby restricting their ability to save.

Morgage_Confused

WOW....check out their long term fix BTL products.....great rate and low fees, they knock TMW into a cocked hat!!

DpchMd

Thrugelmir wrote: »

Maybe the largest category is the people that are being trapped by paying rapidly increasing rents. Thereby restricting their ability to save.

Quite possibly.

HAMISH_MCTAVISH

Thrugelmir wrote: »

Maybe the largest category is the people that are being trapped by paying rapidly increasing rents. Thereby restricting their ability to save.

Another inevitable consequence of mortgage rationing.

Fewer people can buy, even if prices fall.

DpchMd

HOMEOWNING_FTW wrote: »

Some people will simply never ever buy. It doesn't matter how much help, support, and incentives their boomer parents, the state and banks happily provide them. These people are essentially lifes lossers, unable to believe in themselves or their own futures to realise the dream of homeownership. It's sad and pathetic really but it essentially seperates the boys from the men.

^^Hit the spam button and it'll go away.^^