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Should i worry about mortgatge affordability?
Weles100
Posts: 9 Forumite
I have recently bought a house on a 5 year fixed term mortgage (8 months ago)? I bought the house at circa 220k with a 15% deposit? Is it likely i will be in negative equity or something else due to coronavirus?
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Comments
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I have a 30 year term and the payments are 700 a monthWeles100 said:I have recently bought a house on a 5 year fixed term mortgage (8 months ago)? I bought the house at circa 220k with a 15% deposit? Is it likely i will be in negative equity or something else due to coronavirus?0 -
As long as you can afford the monthly repayments there's no need to worry about the value of the property. You've bought a home not an investment. Once the mortgage is finally cleared you can live rent free.
At the current time it's the security of your job / income that matters the most. The virus will eventually pass.2
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