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Debate House Prices
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For babyboomers housing "has been free"
Comments
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Personanally I would rather buy cheap and deal with a few years of high rates than buy expensive with a low rate which can only go upwards.Have my first business premises (+4th business) 01/11/2017
Quit day job to run 3 businesses 08/02/2017
Started third business 25/06/2016
Son born 13/09/2015
Started a second business 03/08/2013
Officially the owner of my own business since 13/01/20120 -
Personanally I would rather buy cheap and deal with a few years of high rates than buy expensive with a low rate which can only go upwards.
I believe you had no trouble getting a 90% mortgage a year or two ago.
I think the actual amount you pay is the main thing and the high rates didn't last a few years for most of the 70s and 80s interest rates were above 9%.0 -
GeorgeHowell wrote: »As I said, it it a very broad brush and generalised statement. But average deposits as a percentage of loan values required have been higher in recent years than they used to be (typically 10%), although perhaps reducing a bit now. And although there were periods of very high interest rates by today's standards, that was not continually the case. There also used to be income tax relief on mortgage interest, which was gradually phased out.
I think it has be possible to get a 90% mortgage I believe Percy did. You can now get a 95% mortgage which wasn't available to me in the 70s. As I've poster earlier interest rates were high for most of the 70s and 80s. The time to buy was the 90s when interest rates and prices in relation to earning were lower than preceding 20 years.0 -
Well according to Hamish it was only luck I got accepted for 90%, nothing to do with realistic expectations, upping my income and a spotless credit file.Have my first business premises (+4th business) 01/11/2017
Quit day job to run 3 businesses 08/02/2017
Started third business 25/06/2016
Son born 13/09/2015
Started a second business 03/08/2013
Officially the owner of my own business since 13/01/20120 -
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mayonnaise wrote: »...and a girlfriend willing to take on large chunks of your CC debt.
When did that happen? I remember transferring some debts into her name and continuing to service the debt at a lower interest rate, likewise she transferred hers to me and got a better rate.
What a clever couple we are.Have my first business premises (+4th business) 01/11/2017
Quit day job to run 3 businesses 08/02/2017
Started third business 25/06/2016
Son born 13/09/2015
Started a second business 03/08/2013
Officially the owner of my own business since 13/01/20120
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