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Comments

  • AdrianC
    AdrianC Posts: 42,189 Forumite
    Eighth Anniversary 10,000 Posts Name Dropper
    £550k FTB... in MK?

    This just gets sillier.
  • Asl77c
    Asl77c Posts: 87 Forumite
    Deleting the comment about paying cash doesn!!!8217;t make the fact go away about it being tax evasion
  • Georgedunn
    Georgedunn Posts: 27 Forumite
    AdrianC wrote: »
    £550k FTB... in MK?

    This just gets sillier.

    What's silly about this?
  • LilElvis
    LilElvis Posts: 5,835 Forumite
    Sixth Anniversary 1,000 Posts Name Dropper
    AdrianC wrote: »
    £550k FTB... in MK?

    This just gets sillier.

    Quite a lot of houses in MK are £550 and above. This house neighbours mine http://www.rightmove.co.uk/property-for-sale/property-53695404.html
  • Aylesbury_Duck
    Aylesbury_Duck Posts: 15,977 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Going back to the original numbers, what's the problem?

    You earn around £170k p.a. and are worried about paying off a mortgage on a £550k house? What on earth are you spending the money on at the moment?
  • Georgedunn
    Georgedunn Posts: 27 Forumite
    Aylesbury_Duck wrote: »
    Going back to the original numbers, what's the problem?

    You earn around £170k p.a. and are worried about paying off a mortgage on a £550k house? What on earth are you spending the money on at the moment?

    I have 2 cars with a combined HP payment of £2k a month and £7k pa on insurance.

    I will get rid of one when I move in, but this expenditure is high at the moment.
  • A_Nice_Englishman
    A_Nice_Englishman Posts: 2,301 Forumite
    Part of the Furniture 1,000 Posts Mortgage-free Glee!
    Asl77c wrote: »
    You do realise that you have posted on a public forum, with your full name and job, and now are essentially saying you are going to take part in tax evasion by your mates paying cash? That!!!8217;s the impression I get from this. Not the best idea.........

    The address of the property he's buying too.....
  • letitbe90
    letitbe90 Posts: 345 Forumite
    Aylesbury_Duck wrote: »
    Going back to the original numbers, what's the problem?

    You earn around £170k p.a. and are worried about paying off a mortgage on a £550k house? What on earth are you spending the money on at the moment?
    From my experience, as my salary grew, so did my expenditure, be it unneccesary expenditure..

    5 years ago if you asked me what I'd do with a 6 figure salary (when i was earning circa £20k) - i'd tell you I wouldn't know how to spend that money. Nowadays, now that I am on £540 a day, it never feels enough.
  • Aylesbury_Duck
    Aylesbury_Duck Posts: 15,977 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    I have 2 cars with a combined HP payment of £2k a month and £7k pa on insurance.

    I will get rid of one when I move in, but this expenditure is high at the moment.

    Why not get rid of one now? You can only drive one at a time.

    In your shoes with the upcoming commitment you've made, I'd be eliminating all unnecessary expenditure now and saving like mad so I could overpay the mortgage from the start. £1300 saved per month by ditching one car - think what that will save in compounded interest over a 25 year mortgage.
  • Georgedunn
    Georgedunn Posts: 27 Forumite
    Aylesbury_Duck wrote: »
    Why not get rid of one now? You can only drive one at a time.

    In your shoes with the upcoming commitment you've made, I'd be eliminating all unnecessary expenditure now and saving like mad so I could overpay the mortgage from the start. £1300 saved per month by ditching one car - think what that will save in compounded interest over a 25 year mortgage.

    Completely agree, just a case of finding a suitable buyer at the right price which may take a bit of time.
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