Nationwide requiring min 25% deposits for new mortgages

kunekune

Yes, I think it is a male-female thing. I should add that after over 27 years together and a silver wedding anniversary coming, I am not going to dump my man over this.

AdrOock (is that right?): his worry, and given our history it is a fair worry, is that we get that kind of deal and then the value of the property drops massively. And then, being female, I get itchy feet ... or the uni I work at drops the degree programme I'm teaching on ... or whatever. His view is that (a) we should not have a mortgage that isn't afffordable on one income and (b) we should have a big enough deposit that we aren't in any danger of negative equity. It's not that I disagree with him in principle ... it's my heart that's the problem, not my brain.

And that's where we come back to the female thing. He has never had the slightest desire to put up black flock, change the handles in the kitchen, or do a loft conversion (though he had the appropriate reaction today when I showed him the rightmove listing for a property with a mock crazy paving feature wall in the lounge and carpeted steps leading up to the roman-style bath .... so he isn't entirely lacking in style).

Of course, if our landlord announces towards the end of the AST that it isn't going to be renewed, giving us another set of removal expenses (this house didn't even come with curtains), he might start to realise the seriousness of the problem.

Doozergirl

Can I see that rightmove listing with the feature wall?!

Nenen

kunekune wrote: »

Yes, I think it is a male-female thing. I should add that after over 27 years together and a silver wedding anniversary coming, I am not going to dump my man over this.
It's not that I disagree with him in principle ... it's my heart that's the problem, not my brain. .

Wow Kunekune! Synchronicity or what? We celebrate our 27th wedding anniversary this year and I couldn't agree more with 'my heart being the problem'! MerlinTHP and I have chatted about this several times and agreed that it is my female 'nesting instinct' that is difficult to apply logic to... however much I might *know* my dh is right about waiting to buy!

Jorgan_2

Doozergirl wrote: »

I was imaging something like a Passat, btw. :rotfl:

Thanks a bunch.

merlinthehappypig

Nenen wrote: »

Wow Kunekune! Synchronicity or what? We celebrate our 27th wedding anniversary this year and I couldn't agree more with 'my heart being the problem'! MerlinTHP and I have chatted about this several times and agreed that it is my female 'nesting instinct' that is difficult to apply logic to... however much I might *know* my dh is right about waiting to buy!

Hang on.

We are celebrating our Silver Wedding anniversary this year after being together 27 years............I think I've located the problem - it's my wife on the other PC. Kunekunes are pigs after all........

Definitely synchronicity, though unlike kunekune's OH I do like DIY. I'm quite happy replacing kitchens or bathrooms or other large projects, but loathe decorating. I simply don't have the patience to paint or, worse, wallpaper. My wife is excellent at wallpapering (that's my excuse anyway).

I have to be honest, having made an offer, I am seriously worried about the implications, both financial and personal ie. living with the in-laws. Full-on sleepless nights, the works.

It was bad enough when we had just our money in the bank to lovingly tend. Now they have sold their house we have theirs too. I've turned into a sort of modern day, electronic banking Scrooge, though I wouldn't mind it in sovereigns too, given the chance.

Even before I had to leave my job it would have taken me 20 years saving every penny I earned to have that sort of money. The interest alone is more than my income each month. It brings it home just how overpriced houses are.

I simply can't believe that we are going to give up that sort of financial security for a few walls and a roof that we can call 80% our own.

My wife can't understand how I would give up the house for the money, so something had to give, which is me, sadly.

Nenen

merlinthehappypig wrote: »

Hang on.

We are celebrating our Silver Wedding anniversary this year after being together 27 years............I think I've located the problem - it's my wife on the other PC.

:rotfl::rotfl::rotfl:Maybe we should make it a threesome!

We've been together 27 years too (dh asked me to marry him 5 weeks after we met)! Perhaps there was something in the water that year!

merlinthehappypig wrote: »

My wife can't understand how I would give up the house for the money, so something had to give, which is me, sadly.

Aww Merlin... I really do feel for you... it is soooooo difficult to compromise sometimes isn't it.... especially when you love someone and your logic clashes with their feelings or vice versa! Just remember that eventually, even if house prices do go down in the short-ish term, then in ten+ years time you will still be able to count your sovereigns... probably a lot more of them as by then you'll be able to sell up (hopfully just before the next peak) and downsize so you'll have a four lovely walls, a roof AND some money!

I'm sure we'll all come out of this OK in the end... it is just the lack of crystal ball certainty that is hard to live with (whichever way you feel about renting/buying). At the end of the day I keep telling myself... 'it is *only* money and/or bricks' ... I'd live in a tent with my dh if I had to... he and our three children mean the world to me and, when I let myself think of life without them, houses, money, renting etc pale into insignificance. Sounds as if you, Kunekune and I have something far more precious than money or mansions! Some of the wealthiest parents of children I teach are the poorest emotionally and unhappiest people I know.... mind you... I still love Generali's tag line!

kunekune

Merlin, I want to answer everyone else, but it's bedtime and it's time to give up for the night, but you need a reply sooner, LOL! In the meantime, I should say that I am NOT YOUR WIFE!!!!! So don't worry, I'm not coming back to bite you. I'm a piggy cos I like piggies and I chose a kiwi kind of piggy cos I lived in nz for a long time and feel like a kiwi ... I even have a kiwi citizenship certificate.

The rest of you, I'll reply tomorrow (fire-putting-out at work - why do they plagiarise?????? - permitting).

kunekune

Oh, btw, only 5 weeks? That's slow. I met DH and we started to go out together (or, tbh really, stay in together) and then in week 2 we moved in together (it's easy when you're students). We lived together a while, even survived my first dinner party where I served cabbage as a pudding. And have been together ever since.

Not sure what to say.

merlinthehappypig

At last somewhere where we differ. I'd known my wife for around a year before we started going out - we worked together - it took me about 10 months to get her to go out with me, but it was worth it in the end!

subjecttocontract

The Nationwide move to require a 25% deposit will mean less FTBs and more demand for rental property........I suspect rents may now start to rise quicker.