front page of Saturday's FT - re house prices

ukcarper

The season ticket from Farnborough will get you about £60k on mortgage


cheapest 3 bed on rightmove Battersea
http://www.rightmove.co.uk/property-for-sale/property-43087240.html
or Farnborough
http://www.rightmove.co.uk/property-for-sale/property-43018126.html

Graham_Devon

wotsthat wrote: »

I would do if I could find someone to ask. I don't know anyone whose house has gone up in value by 40% and thinks it the worst thing that could have happened to them.

Quite.

And that's why I never put such a scenario across.

Generali

ukcarper wrote: »

The season ticket from Farnborough will get you about £60k on mortgage


cheapest 3 bed on rightmove Battersea
http://www.rightmove.co.uk/property-for-sale/property-43087240.html
or Farnborough
http://www.rightmove.co.uk/property-for-sale/property-43018126.html

That was the some sort of calculation I made to live in the Barbican. No car, no season ticket. That's a lot of money right there.

MFW_ASAP

MFW_ASAP wrote: »

So what is the difference between these people and young people just starting out?

Not responding, Devon?

michaels

Generali wrote: »

That was the some sort of calculation I made to live in the Barbican. No car, no season ticket. That's a lot of money right there.

And I think as I mentioned earler in this thread, the lower the mortgage rate the more 'leverage' than can be obtained from the cost of a season ticket put to mortgage repayment.

Slightly OT I was talking to someone recently who had some furniture in storage and was talking of buying a holiday home to keep it in on the grounds that the £300 per month that the storage was costing would pay the interest on quite a large mortgage - apologies to the putative owner occupier who is likely to be priced out as a result....

Graham_Devon

michaels wrote: »

Slightly OT I was talking to someone recently who had some furniture in storage and was talking of buying a holiday home to keep it in on the grounds that the £300 per month that the storage was costing would pay the interest on quite a large mortgage - apologies to the owner occupier who is likely to be priced out as a result....

Thats really interesting actually!

But would it work? You get more than just storage when paying for it. it's also security, insurance etc. You also know your outgoings, whereas a holiday home has possible unknown costs of repairs etc etc down the road? Would what he/she is storing be covered insurance wise if no one was using the home?

wotsthat

Graham_Devon wrote: »

But would it work? You get more than just storage when paying for it. it's also security, insurance etc. You also know your outgoings, whereas a holiday home has possible unknown costs of repairs etc etc down the road? Would what he/she is storing be covered insurance wise if no one was using the home?

If someone wanted to buy a holiday home and had £300 storage charges they could channel towards the mortgage then it could work.

Unlikely to work just as a method to save on storage costs unless there's a HPI return.

Holiday homes are expensive!

MFW_ASAP

MFW_ASAP wrote: »

Not responding, Devon?

I guess not. :rotfl:

michaels

Graham_Devon wrote: »

Thats really interesting actually!

But would it work? You get more than just storage when paying for it. it's also security, insurance etc. You also know your outgoings, whereas a holiday home has possible unknown costs of repairs etc etc down the road? Would what he/she is storing be covered insurance wise if no one was using the home?

I think they would also use it as a holiday home but would see the storage costs as offsetting a large amount of the ownership costs. (The reason for having excess furniture is returning from a expat 5 bed company rental and finding buying more than a 2 bed in London is a little expensive at the moment)

Dan:_4

If I had the time or could be a.rsed, I would go back through the archives and surface up all the posts that ridiculed and insulted me for predciting this outcome by this year.