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Just bought a house, wrong move?
Comments
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against my better judgement I just clicked that HPC link eurgh
*rushes off to disinfect self*
Here, let me help you with that, just pop your clothes on the chair there
*picks up soap & sponge*
"Mrs. Pench, you've won the car contest, would you like a triumph spitfire or 3000 in cash?" He smiled.
Mrs. Pench took the money. "What will you do with it all? Not that it's any of my business," he giggled.
"I think I'll become an alcoholic," said Betty.0 -
Heres a budget for you -
Income - £2500
Council - £100
Electric and gas - dont use heating or anything other then the cooker £20
Insurance - £10
Food - £300
ancils and booze - 70
sell ur cars and cycle to work
mortgage - 900
Savings - 1100 a month
Thats 13K a year, so in 5 years of doing that your loans should be at a more sustainable level
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ignore the HPC brigade mate. They're all digging nuclear shelters, buying guns and hoarding beans for when the entire world breaks down and anarchy starts. Daily Mail Diana-obsessed middle englanders the lot of em
take them all witha pinch of salt. It's a load of theoretical economics taken to the extreme by a bunch of cash hoarders in the vain hope of being able to buy a massive house for 30p when we're all bankrupt then sell it for £500,000 when the next boom comes.
Enjoy your house & just be sensible. If you find a spare 500 quid, pay it off the mortgage - don't do what a lot of people do & blow it on Nike Air & Diesel Jeans. If you get a pay rise and have spare cash, cream off the extra into your mortgage. If there's a crash you'll be in a slightly better/safer position, if not, you'll pay the mortgage off quicker anyway.0 -
I hadnt realised my Q was on another forum. Interesting read...
Slightly more harsh over there than on her...LOL
I registerd, but unable to reply to it?0 -
Guy_Montag wrote: »Why?
Transport links being improved, better local facilities, that high speed rail thingy, Red Ken building a newt farm in Stratford... etc etcErrors of opinion may be tolerated where reason is left free to combat it. - Jefferson0 -
In addition to saving,
1) Try to maximise your earnings by getting promoted, moving jobs etc
2) Don't, don't, don't, you or your partner get pregnant in the next 2 years !US housing: it's not a bubble
Moneyweek, December 20050 -
Reason,
Assuming you are not a HPC.co.uk troll...
Providing you live within your means, pay off your loan every month without fail, and don't get into anymore debt you'll be fine in the long run.
According HPC.co.uk it's always a bad time to buy. Some sold their houses in 2001 and are still waiting for the crash so don't listen to any of their nonsense.
Are there redemption penalties at the end of the two year period?0 -
HPC are speculators, never speculate gamble with your lifes work (money) you could end up at square 1.
A simple life, good quantity of budgeting will get your loans down to a level where you can start paying off the total. Never ever really on HPI to cover your back, its a false prophet making you think you have a false profit kicking your shoes to want you to loan more.
By doing this and budgetting hard in the first 5 years itll save you a fortune in interest (deadmoney) in the long run and you will appreciate what you have more when you have it. But dont think you own your house now as your bank are landlords till they are paid back!0 -
I always laugh when people take sides in forum wars. There are just as many nutters on this site as their are on HPC. Not all of us on HPC are doom merchants or want you all to go bankrupt.
Some of us are in the same boat!0
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