Huge Debt and First Time Buyer ADVICE PLEASE

herbiesjp

Maggie30 wrote: »

Oh..............well thats a shame. Seems like the debt is too big to be included in a 125% mortgage. But at least I know this now, or at least am a bit more informed now with regards to the options for my partner. Thanks all so far.

But as was stated previoulsy, you do not have to consolidate the whole amount, or consolidate any of it.

It all depends on the purchase prices you are looking at, and whether your income can support all your commitments

HTH

Mr_helpful

Mortgage Mamma 1 Kenshaz 0

Kenshaz you have missed point as MM says. Wealth is not about the number of 0's onyour bank account. its about the ability to create a lifestyle for youself and others that is emotionaly and finacialy rewarding. You cannot in my book be wealthy if you are not happy. Its easy though to be rich and unhappy. Unfortunantely military personnel tend to be very narrow minded as a result of being brainwashed into the idea that there is only one way ie the military way. This explains why we won the military war in Iraq and lost more soldiers after the war was over. Dont think you have been brainwashed read this by one of my mentors and world experts on the subject. http://www.dicksutphen.com/html/battlemind.html

Herbie 1 Wardlaw 0

Herbies got it right here but then he read the above posts and has echoed my words.
OP you can easily buy a house with other halfs earnings but it will be smaller than you could have bought if he had no debt.

herbiesjp

Mr_helpful wrote: »

Herbie 1 Wardlaw 0

Herbies got it right here but then he read the above posts and has echoed my words.
OP you can easily buy a house with other halfs earnings but it will be smaller than you could have bought if he had no debt.

Thanks for the compliment, but I was just repeating my post number 5:beer:

We must be on the same wavelength

kenshaz

MortgageMamma wrote: »

Can money buy you love though? Helpful was referring to his wealth in a context other than pure materialism

I'm going to start saving up for Daniel Craig because I want him

You will never suss helpful as you are both on different levels. When you see something that he writes and automatically take it at face value, stop, read it again and think how else it could apply - perhaps this quote from Oliver Wendell Holmes, one of my favorite will sum it up

"A word is not a crystal transparent and unchanged, it is the skin of living thought, and may vary greatly in colour and content according to the context in which it is used"

No Money cannot buy you love ,ask Paul Mc Cartney.

Melissa177

Yant1 wrote: »

I never called you a mad hatter just said that some banks are. I simply call it mad cos I wouldnt what every penny ive got to go in pure interest (pure profit for someone else).

I disagree with this. This is not a zero sum game - debt on an appreciating asset (such as a property) is not a bad thing - it's a win-win situation for you and the bank. You get a property to live in, and the increase in capital, and the bank gets the interest on the loan. Everyone has to live somewhere, so both of you are winning. Debt is not necessarily a bad thing, and banks making an honest profit* certainly isn't either.

A dishonest profit is another thing entirely...

Melissa177

Oh and money can't buy you happiness, but having it stops you from being miserable

kenshaz

Mr Helpful I will give you credit for trying to generalise ,but I am a free thinking person,I am actually anti establishment and anti nanny state.
Please do not assume that because of my career choices I am unable to exhibit original thought .
Mr Helpful I would like to make the point that I was never a soldier.

kenshaz

Melissa177 wrote: »

Oh and money can't buy you happiness, but having it stops you from being miserable

So very wrong,your state of mind stops you being miserable not money.

MortgageMamma

Money causes more problems than it solves. It distracts people from the things that are truly important in life. You will always be unhappy if you always want more and are discontent with your lot. People may scoff and say thats rich coming from someone with money, which is amusing because I don't understand why everyone thinks us mortgage brokers make loads of money, some of us have quite modest earnings, but I am a rich woman in many ways.

kenshaz

MM but you tell us that you are wealthy, one of your posts mentioned that you the value of your house and your salary,not only you Mr Helpful describes his life style and you tell us about the car he drives ,what else are we supposed to believe.
But I know that you have a heart,and you speak from the heart.
Your post echoes my signature .The secret of happiness is contentment.
I can never compete with Mr Helpful,he is far wealthier than I ,but is he really and am I really 55 .