Really confused about what I want :(

MFWannabe

The OPs best solution is to lower expectations and therefore budget 
There’s plenty of nice properties around at 160k or less such as this: 
https://www.rightmove.co.uk/properties/97109408#/
But I don’t think OP is willing to do this. I don’t believe he REALLY wants to buy a house. If you REALLY want it you’ll compromise and you won’t moan about interest rates etc; they are what they are 🤷‍♀️
Maybe when he finds the right property it may happen but the longer OP is unwilling to compromise the less likely it will be that he buys a property 
Possibly he’s hung up on what he previously had when he was married? as he does seem to ‘live’ in the past. 
No good ever comes from living in the past; have to live for now and focus on what you want now for YOU 

RelievedSheff

getmore4less said:

H2B might be your best option now
Could stretch your monthly budget. 
20% interest free and lower rate on the rest.

Not clear about these "mates" down the pub that you never have round, plenty of pubs in cheaper areas to get some new mates. 

The OP has previously owned a house so they won't be able to use the new help to buy scheme.

Crashy_Time

RelievedSheff said:

90% LTV mortgages are becoming available again. Accord today have launched their new range.

https://www.financialreporter.co.uk/mortgages/accord-launches-permanent-90-ltv-range.html

Not sure you can use mortgage availability as an excuse.

It won`t be 90% of what many sellers are hoping for though?

Crashy_Time

danlightbulb said:

theoretica said:
You need to make decisions on things as they are now and with and eye to how they might be in future, not looking to the past.

Yeah I get that but it has significantly moved the goal posts hasn't it. For whatever reason (and there were several), I didn't buy before and now the costs have risen substantially since then. Its not marginal changes, and its significantly altering both my ability to buy and my desire not to get fleeced.

And as more and more people are affected by this economic reality and sentiment change it gets harder and harder to keep the bubble pumped.

RelievedSheff

I'm starting to think you and Dan could be the same person!!

Crashy_Time

MFWannabe said:

danlightbulb said:

theoretica said:
You need to make decisions on things as they are now and with and eye to how they might be in future, not looking to the past.

Yeah I get that but it has significantly moved the goal posts hasn't it. For whatever reason (and there were several), I didn't buy before and now the costs have risen substantially since then. Its not marginal changes, and its significantly altering both my ability to buy and my desire not to get fleeced.

So you’d rather get fleeced by paying rent and someone else’s mortgage 
👏👏👏👏

Rent is a cost, mortgage is a debt, if your landlord`s house drops in value it is unlikely to affect you very much, if your own mortgaged house drops in value (due to buying on the cusp of the biggest recession in decades at bubble prices perhaps?) you are stuck with a debt held against the place you live in, with maybe negative equity and a very illiquid asset that is hard to sell.
Taking out a 160k mortgage debt on a house that should cost 80k isn`t going to make you happy..........playing your piano might make you happy, having enough savings/investments to cover your costs for a few years might make you happy, being happy within yourself might make you happy, but a mortgage at bubble prices with rising mortgage costs? Nah. Hopefully down-valuations and rising mortgage costs are here to stay because that is going to reduce the size of the capital hard working money savers need to borrow going forward.

RelievedSheff

Crashy_Time said:

MFWannabe said:

danlightbulb said:

theoretica said:
You need to make decisions on things as they are now and with and eye to how they might be in future, not looking to the past.

Yeah I get that but it has significantly moved the goal posts hasn't it. For whatever reason (and there were several), I didn't buy before and now the costs have risen substantially since then. Its not marginal changes, and its significantly altering both my ability to buy and my desire not to get fleeced.

So you’d rather get fleeced by paying rent and someone else’s mortgage 
👏👏👏👏

Rent is a cost, mortgage is a debt, if your landlord`s house drops in value it is unlikely to affect you very much, if your own mortgaged house drops in value (due to buying on the cusp of the biggest recession in decades at bubble prices perhaps?) you are stuck with a debt held against the place you live in, with maybe negative equity and a very illiquid asset that is hard to sell.
Taking out a 160k mortgage debt on a house that should cost 80k isn`t going to make you happy..........playing your piano might make you happy, having enough savings/investments to cover your costs for a few years might make you happy, being happy within yourself might make you happy, but a mortgage at bubble prices with rising mortgage costs? Nah. Hopefully down-valuations and rising mortgage costs are here to stay because that is going to reduce the size of the capital hard working money savers need to borrow going forward.

Mortgage is a debt that decreases and eventually becomes zero.

Rent is a rising cost that you will pay forever.

Mortgage rates are very low at the moment. When mortgage rates were in double figure people still bought and sold houses and house prices still rose. What makes you think anything will be different if rates rise again?

MFWannabe

RelievedSheff said:

Crashy_Time said:

MFWannabe said:

danlightbulb said:

theoretica said:
You need to make decisions on things as they are now and with and eye to how they might be in future, not looking to the past.

Yeah I get that but it has significantly moved the goal posts hasn't it. For whatever reason (and there were several), I didn't buy before and now the costs have risen substantially since then. Its not marginal changes, and its significantly altering both my ability to buy and my desire not to get fleeced.

So you’d rather get fleeced by paying rent and someone else’s mortgage 
👏👏👏👏

Rent is a cost, mortgage is a debt, if your landlord`s house drops in value it is unlikely to affect you very much, if your own mortgaged house drops in value (due to buying on the cusp of the biggest recession in decades at bubble prices perhaps?) you are stuck with a debt held against the place you live in, with maybe negative equity and a very illiquid asset that is hard to sell.
Taking out a 160k mortgage debt on a house that should cost 80k isn`t going to make you happy..........playing your piano might make you happy, having enough savings/investments to cover your costs for a few years might make you happy, being happy within yourself might make you happy, but a mortgage at bubble prices with rising mortgage costs? Nah. Hopefully down-valuations and rising mortgage costs are here to stay because that is going to reduce the size of the capital hard working money savers need to borrow going forward.

Mortgage is a debt that decreases and eventually becomes zero.

Rent is a rising cost that you will pay forever.

Mortgage rates are very low at the moment. When mortgage rates were in double figure people still bought and sold houses and house prices still rose. What makes you think anything will be different if rates rise again?

I think Crashys been waiting for the bubble to burst for many many years 🤔 it’s quite telling how he never answers questions directed at him; such as how much he’s wasted in rent waiting for the bubble to burst 🤷‍♀️
Mad for his comment of spending 160k on a house that should cost 80k 🤦‍♂️😂😂😂🤣🤣🤣🤣🤣 He lives on another planet 🌎 

MFWannabe

RelievedSheff said:

I'm starting to think you and Dan could be the same person!!

Must be surely? 

Salemicus

MFWannabe said:

RelievedSheff said:

I'm starting to think you and Dan could be the same person!!

Must be surely? 

No, I doubt it. Crashy is essentially a troll, Dan seems like a genuine but troubled person.

In all seriousness, threads like this are why I hate Crashy. If he wants to waste his time spouting unfalsifiable nonsense about house prices, I don't really care. But when he comes into threads like this, and gives truly terrible advice to a clearly anxious person, he's doing real damage. And that's why his refusal to make specific predictions about his "house price crash" grate so much. He's very happy to imply to Dan that he'd be overpaying by 50% on that house. But if challenged, Crashy won't predict that house prices in that (or any!) area will fall by any particular amount in any particular timeframe.

It's utterly bogus and irresponsible, and I wish he could be banned.