OH MY, The Most Stunning Beautiful Property

LillyJ

neverdespairgirl wrote: »

We are self-employed, so it's a bit different - after chambers contributions, professional fees, etc, we are both earning about £45k pa.

But that's alot more than 60k joint, which would be your borrowing power when buying a house.

LillyJ

matt99b wrote: »

Does this sort of figure sound right to everyone else? (and sensible for a 48k income)?

Just for comparison we have joint income of £60k and our monthly repayments will be £769. I think that is quite enough for us on our salary, as I want to make sure we can carry on paying it if interest rates rise etc.

Have you done your calculations to make sure you can afford this much a month, especially if interest rates rise?

matt99b

katieowl wrote: »

...the roof doesn't look too brilliant, and also there's a lot of flat roof area. I'd want to know who's going to be responsible for that??? Flat roofing is notorious for needing repairs, and if you are effectively walking over it to get to the front door, it will wear through a lot more quickly. That sort of roofing is not designed to walk over. If you are going to have the downstairs jumping up and down to have a leak fixed, are you going to be able to react to it??

Good question! We'll ask this.

The EA told us we would privately own that roof terrace and could do what ever we wanted to it if we wanted to make it look nicer, so we were thinking about maybe putting some decking on it.

Captain_Mainwaring_2

LillyJ wrote: »

But that's alot more than 60k joint, which would be your borrowing power when buying a house.

That is quite the most ridiculous comment I have read for at least 10 minutes.

Multiples mean absolutely nothing. The guy is looking to be able to afford it.

Any idiot can borrow way over the top with a bit of creative accounting, but servicing the loan is what matters and that is what he is considering .45K will give him around £2,440.51 a month, our man wants to spend around £1200 of that on a mortgage and wonders if it is wise.

What on earth is the point in him borrowing 300K to eat out of a dustbin for the rest of his natural life?

Lakey

I have a feeling that opinions on decking will be as highly charged as the HPC Bear/Bull fight.
I think you've started such a brilliant thread!!

I love your courage to mention you are a.......

Pro Decker!!!:T

Captain_Mainwaring_2

matt99b wrote: »

Good question! We'll ask this.

The EA told us we would privately own that roof terrace and could do what ever we wanted to it if we wanted to make it look nicer, so we were thinking about maybe putting some decking on it.

As mentioned you may only have the right to walk across it (an easement)

You may also find that you need to insure the structure as more than a few leases were defective in that there was no liability for the structure between properties (up/down), I have a lease that required a once only payment to indemnify the BS as the lease was found not to have a clause as to responsibility.

I don't know how anyone can comment on the roof from the photos you posted, it looks in reasonable nick, but you need a good close look to see the state of an asphalt roof. You also need to know if it is on concrete or timber.

Captain_Mainwaring_2

Lakey wrote: »

I have a feeling that opinions on decking will be as highly charged as the HPC Bear/Bull fight.
I think you've started such a brilliant thread!!

I love your courage to mention you are a.......

Pro Decker!!!:T

It's not decking, it's called duckboarding and should ideally be teak if you can find any.

A completely different beast to that rubbish that Kirsty Alslops waffles on about.

Captain_Mainwaring_2

Lakey wrote: »

I have a feeling that opinions on decking will be as highly charged as the HPC Bear/Bull fight.
I think you've started such a brilliant thread!!

I love your courage to mention you are a.......

Pro Decker!!!:T

If he was a charred reggae singer then he would be a Blackened Dekker.

katieowl_2

Captain_Mainwaring wrote: »

If he was a charred reggae singer then he would be a Blackened Dekker.

Perhaps also his 'ears are alight'? :rotfl:

LillyJ

Captain_Mainwaring wrote: »

That is quite the most ridiculous comment I have read for at least 10 minutes.

Multiples mean absolutely nothing. The guy is looking to be able to afford it.

Any idiot can borrow way over the top with a bit of creative accounting, but servicing the loan is what matters and that is what he is considering .45K will give him around £2,440.51 a month, our man wants to spend around £1200 of that on a mortgage and wonders if it is wise.

What on earth is the point in him borrowing 300K to eat out of a dustbin for the rest of his natural life?

What??? I was was talking about neverdespairgirls income, not the OPs, in relation to his comments that anything oer £60k a year was ridiculous money. Which I was pointing out it isn't.

Multiples do mean something; I can tell you that someone on £20k a year can't afford a £300k mortgage, but that someone on £100k a year is more likely to be able to.

Anyway pleased to have won the most ridiculous post in 10 minutes award, there is a fair amount of competition.