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good idea or financial suicide ?
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70 years according to the estate agents. why ?0
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70 years doesn't seem very long to me. It could well have a bearing on its price and future saleability particularly in the wake of a house price crash. You may want to see if the current leaseholder can get it extended. I'm not too experienced on these things, hopefully someone else with more experience can advise you better.0
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If you're buying a home to live in, then I wouldn't worry about what the house prices are doing. If you prefer, see it as you're long-term renting from the mortgage lender.
It's what the interest rates are doing that should bother you! If I was starting out now, I'd be going straight for a 5/6% 10 year fixed rate mortgage, making sure it's portable if you want to move. That way, you can ignore the interest rates as well as the house prices.
We all have to live somewhere - why not buy instead of rent - just cover yourself from all angles and there'll be no need to fret about it.0
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