Stuck in the help to buy trap.

Mickey666

If £15k would buy out the HTB thing, is selling the 'nice cars' for some cheaper runabouts an option?  Not ideal perhaps but this whole issue seems to be about priorities.

GDB2222

SophieHull said:

Tokmon... Why are you still here? I feel like there's only so many times you can call a person poor before they retaliate. So I'm going to go ahead and call you a snob.
See what I did there? That whole thing was my opinion. I came here for facts. One guy informed me of the implications tax would have and we've decided it is going to be an issue. Especially since my ex probably wouldn't declare it even if he was getting money from it.
All you've done is tell me how I should spend my money and live my life and you don't even know me! I don't regret a single thing we spent our money on because I probably won't ever get to do 90% of that stuff ever again, INCLUDING driving, due to my illness. So get off your high horse and go bother someone else. 

Hi Sophie. I'm afraid that you posted on a public forum, and unfortunately that means you have to put up with the public. 

I'm surprised that people ask questions here, to be honest, as they have to sift through an awful lot of dross for not a lot of help.  On the plus side, you are not paying anything for the 'advice', such as it is.

SophieHull

Mickey666 said:

If £15k would buy out the HTB thing, is selling the 'nice cars' for some cheaper runabouts an option?  Not ideal perhaps but this whole issue seems to be about priorities.

Unfortunately one of the cars went when I first got ill in 2017 as it was very thirsty. The one we kept is now 6 years I've had from new and is paid off. By the time we got another (potentially unreliable) car with the left over money it wouldn't be worth the hassle for what would be left. Its £20 a year in tax and cheap to run. 

SophieHull

GDB2222 said:

SophieHull said:

Tokmon... Why are you still here? I feel like there's only so many times you can call a person poor before they retaliate. So I'm going to go ahead and call you a snob.
See what I did there? That whole thing was my opinion. I came here for facts. One guy informed me of the implications tax would have and we've decided it is going to be an issue. Especially since my ex probably wouldn't declare it even if he was getting money from it.
All you've done is tell me how I should spend my money and live my life and you don't even know me! I don't regret a single thing we spent our money on because I probably won't ever get to do 90% of that stuff ever again, INCLUDING driving, due to my illness. So get off your high horse and go bother someone else. 

Hi Sophie. I'm afraid that you posted on a public forum, and unfortunately that means you have to put up with the public. 

I'm surprised that people ask questions here, to be honest, as they have to sift through an awful lot of dross for not a lot of help.  On the plus side, you are not paying anything for the 'advice', such as it is.

Haha yeah but that person was really fishing so I decided to bite they know literally nothing about me or what I've been through. On the plus side we had a viewing today and it sounds promising but we never get our hopes up. We've also contacted HTB who are looking into changing the names on the mortgage, again we won't get our hopes up but if we can go down that route we can rent it out for 2 years without borrowing any more money. Should put us back on our feet. Believe it or not we did actually have a plan, especially having sold the property for £90000 (twice in fact but both were attempting a mortgage) but this has really knocked us for 6.

Crashy_Time

Tokmon said:

Crashy_Time said:

Tokmon said:

Crashy_Time said:

Tokmon said:

SophieHull said:

GDB2222 said:

I think that renting the flat out is just kicking the can down the road, to some extent. Is there any real hope that the value will increase in say one or two years? Otherwise, are you planning to be landlords for years and years?  

There's a 1 bed house up for rent at £425 pcm nearby. I assume that your flat above a bar would go for less. Is letting really a viable proposition, anyway? 

I notice lots of really nice furniture in the current sale listing. Are you proposing to leave that there for a letting? 

Another thing I should note is that we simply don't want to live there. So renting it out is just a way out. If we did get £500pcm it would be self sustaining, breaking even with a little but extra for repairs if needed. The important thing is we won't live there anymore. We want a family and whilst it's not ideal living with parents, my parents have a 4 bedroom house so we have a living room, bedroom and spare bedroom for a child, and an in house babysitter. 

That sounds like an awful idea living with your husband at your parents house as a married couple raising a family. How does your husband and parents feel about this? Surely everyone would prefer their own space and i think it's very unfair on your parents to start a family in their home.

Plus you and your husband don't seem to have any money to your name if you would need to borrow money to pay off the £15k help to buy so sounds like your in a terrible position to be adding the extra expense of a child to your lives.

Sounds much better than a HTB (help the bankers) deal TBH.

Well I'm certainly not suggesting they do another HTB purchase. They need to save up and buy when they have a good amount for a deposit, like i said in the post above.

They are still way better off in the parents four bed with free babysitting and free/small rent and their own space? Just think how much they could save over getting into large mortgage debt at a very volatile time for rates and job prospects!

Yes there's nothing wrong with staying with parents for a couple years to save up enough money to be able to get their own place of a decent size. But starting a family now is a bad idea when they don't even have enough money to live independently of parents, never mind the extra costs of having a child. 

Mortgage rates are very low so the perfect time for a long fix and job prospects and job security are dependant on someone's current job and their skill set so not bad for everyone and some people it's been very good. 

Mortgage rates can spike, and long cheap fixes are dependent on credit rating and a good sized deposit?

Crashy_Time

SophieHull said:

GDB2222 said:

SophieHull said:

Tokmon... Why are you still here? I feel like there's only so many times you can call a person poor before they retaliate. So I'm going to go ahead and call you a snob.
See what I did there? That whole thing was my opinion. I came here for facts. One guy informed me of the implications tax would have and we've decided it is going to be an issue. Especially since my ex probably wouldn't declare it even if he was getting money from it.
All you've done is tell me how I should spend my money and live my life and you don't even know me! I don't regret a single thing we spent our money on because I probably won't ever get to do 90% of that stuff ever again, INCLUDING driving, due to my illness. So get off your high horse and go bother someone else. 

Hi Sophie. I'm afraid that you posted on a public forum, and unfortunately that means you have to put up with the public. 

I'm surprised that people ask questions here, to be honest, as they have to sift through an awful lot of dross for not a lot of help.  On the plus side, you are not paying anything for the 'advice', such as it is.

Haha yeah but that person was really fishing so I decided to bite they know literally nothing about me or what I've been through. On the plus side we had a viewing today and it sounds promising but we never get our hopes up. We've also contacted HTB who are looking into changing the names on the mortgage, again we won't get our hopes up but if we can go down that route we can rent it out for 2 years without borrowing any more money. Should put us back on our feet. Believe it or not we did actually have a plan, especially having sold the property for £90000 (twice in fact but both were attempting a mortgage) but this has really knocked us for 6.

So it didn`t actually sell?

SophieHull

Crashy_Time said:

SophieHull said:

GDB2222 said:

SophieHull said:

Tokmon... Why are you still here? I feel like there's only so many times you can call a person poor before they retaliate. So I'm going to go ahead and call you a snob.
See what I did there? That whole thing was my opinion. I came here for facts. One guy informed me of the implications tax would have and we've decided it is going to be an issue. Especially since my ex probably wouldn't declare it even if he was getting money from it.
All you've done is tell me how I should spend my money and live my life and you don't even know me! I don't regret a single thing we spent our money on because I probably won't ever get to do 90% of that stuff ever again, INCLUDING driving, due to my illness. So get off your high horse and go bother someone else. 

Hi Sophie. I'm afraid that you posted on a public forum, and unfortunately that means you have to put up with the public. 

I'm surprised that people ask questions here, to be honest, as they have to sift through an awful lot of dross for not a lot of help.  On the plus side, you are not paying anything for the 'advice', such as it is.

Haha yeah but that person was really fishing so I decided to bite they know literally nothing about me or what I've been through. On the plus side we had a viewing today and it sounds promising but we never get our hopes up. We've also contacted HTB who are looking into changing the names on the mortgage, again we won't get our hopes up but if we can go down that route we can rent it out for 2 years without borrowing any more money. Should put us back on our feet. Believe it or not we did actually have a plan, especially having sold the property for £90000 (twice in fact but both were attempting a mortgage) but this has really knocked us for 6.

So it didn`t actually sell?

No it didn't. They couldn't get a mortgage due to the bar underneath. At which point we realised it had to be cash only and we had to drop the price below what was realistic in terms on moving on. 

Tokmon

SophieHull said:

Tokmon... Why are you still here? I feel like there's only so many times you can call a person poor before they retaliate. So I'm going to go ahead and call you a snob.
See what I did there? That whole thing was my opinion. I came here for facts. One guy informed me of the implications tax would have and we've decided it is going to be an issue. Especially since my ex probably wouldn't declare it even if he was getting money from it.
All you've done is tell me how I should spend my money and live my life and you don't even know me! I don't regret a single thing we spent our money on because I probably won't ever get to do 90% of that stuff ever again, INCLUDING driving, due to my illness. So get off your high horse and go bother someone else. 

I'm here because people are replying to me and I'm replying back that's how a discussion forum works. 

Almost every post on here contains some kind of opinion and there are always going to be people who you disagree with you, but that's just life and you just need to accept that. I don't understand why your so offended by what I'm saying considering you disagree with all of it.

I'm telling you my opinion based on the information you have posted so far because that's the only information i have to hand. You may think I'm a "snob" but do you actually know even 1 married couple who have chosen to live with parents and start a family while living there?. I just can't imagine anyone thinking that was a good idea so that's why i suggested you rethink and get back on your feet financially first. 

Crashy_Time said:

Tokmon said:

Crashy_Time said:

Tokmon said:

Crashy_Time said:

Tokmon said:

SophieHull said:

GDB2222 said:

I think that renting the flat out is just kicking the can down the road, to some extent. Is there any real hope that the value will increase in say one or two years? Otherwise, are you planning to be landlords for years and years?  

There's a 1 bed house up for rent at £425 pcm nearby. I assume that your flat above a bar would go for less. Is letting really a viable proposition, anyway? 

I notice lots of really nice furniture in the current sale listing. Are you proposing to leave that there for a letting? 

Another thing I should note is that we simply don't want to live there. So renting it out is just a way out. If we did get £500pcm it would be self sustaining, breaking even with a little but extra for repairs if needed. The important thing is we won't live there anymore. We want a family and whilst it's not ideal living with parents, my parents have a 4 bedroom house so we have a living room, bedroom and spare bedroom for a child, and an in house babysitter. 

That sounds like an awful idea living with your husband at your parents house as a married couple raising a family. How does your husband and parents feel about this? Surely everyone would prefer their own space and i think it's very unfair on your parents to start a family in their home.

Plus you and your husband don't seem to have any money to your name if you would need to borrow money to pay off the £15k help to buy so sounds like your in a terrible position to be adding the extra expense of a child to your lives.

Sounds much better than a HTB (help the bankers) deal TBH.

Well I'm certainly not suggesting they do another HTB purchase. They need to save up and buy when they have a good amount for a deposit, like i said in the post above.

They are still way better off in the parents four bed with free babysitting and free/small rent and their own space? Just think how much they could save over getting into large mortgage debt at a very volatile time for rates and job prospects!

Yes there's nothing wrong with staying with parents for a couple years to save up enough money to be able to get their own place of a decent size. But starting a family now is a bad idea when they don't even have enough money to live independently of parents, never mind the extra costs of having a child. 

Mortgage rates are very low so the perfect time for a long fix and job prospects and job security are dependant on someone's current job and their skill set so not bad for everyone and some people it's been very good. 

Mortgage rates can spike, and long cheap fixes are dependent on credit rating and a good sized deposit?

Using that logic then nobody should ever get a mortgage because rates are always likely to change. But in reality now is a good time to buy with how low rates are and they can be fixed for a period. Someone with an average credit history* and only a 10% deposit can get a fix less than 3% pretty easily which is still very low when you look at what interest rates have been in the past. 

newsgroupmonkey_

Tokmon said:

Crashy_Time said:

Mortgage rates can spike, and long cheap fixes are dependent on credit rating and a good sized deposit?

Using that logic then nobody should ever get a mortgage because rates are always likely to change. But in reality now is a good time to buy with how low rates are and they can be fixed for a period. Someone with an average credit history* and only a 10% deposit can get a fix less than 3% pretty easily which is still very low when you look at what interest rates have been in the past. 

This is trollception - when one troll trolls another

Crashy_Time

Saying mortgage rates could rise on a property forum isn`t really trolling though is it? LOL.