mortgages - how

[gramps]

Don't worry about buying, they will only take it off you to pay for your care when you go ga-ga ... rent and make them pay

 

[crofter]

Don't worry about buying, they will only take it off you to pay for your care when you go ga-ga ... rent and make them pay

This is true.

 

[viv1969]

As long as Estate Agents (spit) get away with charging a percentage of the sale they'll keep pushing prices up. If it was a fixed fee "maybe" house prices wouldn't be driven so high, after all things should only sell for what the market can support...

There's getting to be more and more fixed fee EA deals springing up.

 

[boliston]

Don't worry about buying, they will only take it off you to pay for your care when you go ga-ga ... rent and make them pay

Renting does have some advantages over buying such as easier to move if you change jobs for example and does not tie up capital in the same way as putting down a hefty deposit. In many european countries renting does not seem to have the same "stigma" that it does in the uk.

 

[cambsno]

Renting does have some advantages over buying such as easier to move if you change jobs for example and does not tie up capital in the same way as putting down a hefty deposit. In many european countries renting does not seem to have the same "stigma" that it does in the uk.

But my worry would always be affording it. While I don't expect to be mortgage free till at least 60, it does mean that at 65 I can retire and not have any rent to pay. How would I afford rent then?

 

[boliston]

But my worry would always be affording it. While I don't expect to be mortgage free till at least 60, it does mean that at 65 I can retire and not have any rent to pay. How would I afford rent then?

I'd imagine that most pensioners on the basic state pension would get the full HB allowance for their area unless they have savings over a certain threshold.

 

[mrgubby]

There's getting to be more and more fixed fee EA deals springing up.

About time !

When we sold our last house the EA didn't even turn up for the viewings. I "sold" the house, all they did was advertise it .

 

[Gremlin]

when there are a lot of people who cannot afford houses at all. They need to make sure that any new development has a good proportion of affordable units rather than just loads of those awful "executive style" houses which seem to be all the rage with developers.

Round here the trend with developers seems to be to build a small percentage of the houses, hidden away at the back of the huge estates that are
handed over to the local authority run housing associations to rent out.
So you have an estate of of huge detached houses and hidden away a few small terraced and flats

 

[mrgubby]

So you have an estate of of huge detached houses and hidden away a few small terraced and flats

If the ones at the back are "affordable" are the ones at the front "unaffordable" ?


If so .....what do they do with them


*and don't start me on "Social" vs "Anti-social" housing

 

[nilagin]

Don't worry about buying, they will only take it off you to pay for your care when you go ga-ga ... rent and make them pay

Or you could live in your own home, no rent no mortgage and just pay for carers to come in 3 times a day if at all necessary and then they can't take it all off you.

 

[Marc]

Round here the trend with developers seems to be to build a small percentage of the houses, hidden away at the back of the huge estates that are
handed over to the local authority run housing associations to rent out.
So you have an estate of of huge detached houses and hidden away a few small terraced and flats

I think that, whenever they build a new developments, they have to build homes that will be set aside as "affordable" housing. I think it can take various form (rented, shared ownership etc...)

 

[viv1969]

Round here the trend with developers seems to be to build a small percentage of the houses, hidden away at the back of the huge estates that are
handed over to the local authority run housing associations to rent out.
So you have an estate of of huge detached houses and hidden away a few small terraced and flats

They have to.
If they wish to build a development of any size, they have to ensure that X% is given over to affordable / association housing or they don't get permission to develop at all.
That's why you don't see certain homebuilders building "affordable" housing (I think David Wilson are one), because their developments, even if part of a larger estate, are limited to a smaller number of properties.

Edit...Didn't see yours Marc....Same thing

 

[jakeblu]

Make some sacrifices, i'm 45 and mortgage free but the Mrs and me have worked hard and paid in well over our mortgage each month.
The only other option is churn out loads of kids and live off the social, 4 kids would get you a nice pad

I've 4 kids worked all my life and have paid off my mortgage, what a pathetic comment

 

[Gremlin]

If the ones at the back are "affordable" are the ones at the front "unaffordable" ?
If so .....what do they do with them
*and don't start me on "Social" vs "Anti-social" housing

You just acting thick
The houses that are so called "detached" less the a metre apart an often no garage and very little garden, go for around £700,000
The so called affordable are normally rented out ay around £1,000 pcm paid for on housing benefits mainly/

What really gets me is that they are planning to build another 750 houses on fields at the rear of me, won't affect me that much
but they don't take into account the infrastructure which is already at breaking point, schools brimming and a long wait
for doctors appointments, in fact you can't book them ahead now you have to ring as soon as the surgery opens to stand a chance

 

[OldCarlos]

You just acting thick
The houses that are so called "detached" less the a metre apart an often no garage and very little garden, go for around £700,000
The so called affordable are normally rented out ay around £1,000 pcm paid for on housing benefits mainly/

What really gets me is that they are planning to build another 750 houses on fields at the rear of me, won't affect me that much
but they don't take into account the infrastructure which is already at breaking point, schools brimming and a long wait
for doctors appointments, in fact you can't book them ahead now you have to ring as soon as the surgery opens to stand a chance

Exactly what most people think (best not talk openly about it though.....vote UKIP )

 

[Mr Bump]

Yorkshire or Scotland

 

[Byker28i]

I've 4 kids worked all my life and have paid off my mortgage, what a pathetic comment

3 kids, met my planned date to pay off my mortgage, now that payment goes into savings.
Always lived within our means, cheap cars ran into the ground, cheap holidays etc. Even before we had one we saved a 10% deposit. If you want a house it has to be a priority.

 

[Byker28i]

There is things to help, sites that can help you find places to buy
http://www.bbc.co.uk/news/business-23234033

The telegraph recently suggested places to buy in london
http://www.telegraph.co.uk/finance/...fordable-London-boroughs-in-which-to-buy.html

It might not be the poshest area, but it'll be affordable, plus there's odd havens. It will mean a little commute.

But then also think of further afield as suggested earlier. An hours commute could cut your house price in half. I've always commuted (hence the motorbike), about an hour is my limit.

 

[Llamaman]

Exactly what most people think (best not talk openly about it though.....vote UKIP )

Hallelujah. Hopefully my house will stop getting wrecked by all those gay floods...

 

[Byker28i]

Essex is prime commuter belt apparently for london.

http://www.thisismoney.co.uk/money/...on-named-affordable-London-commuter-base.html

 

[POAH]

Musician/ Teacher(schools and private)gigs, late finished, travel around whole London between schools.
Living in London would be beneficial as she spends air of time on public transport as it is

get a different job or suck it up and deal with the time on public transport.

 

[bastic]

get a different job or suck it up and deal with the time on public transport.

What the heck kind of reply is that??

Train to be a classical player for most of the life and your advise is to change profession ?

Find another thread in which you can troll.bye!

 

[Blank_Canvas]

London - Woolwich arsenal and we quite like Royal Arsenal where we rent at the moment

It's such a shame they built that development. A lot of early military history ruined. Ironically, it was my service in the Royal Artillery which started off at Woolwich that allowed me to but my first house and become mortgage-free by my mid 30s.

My advice to young people is get off your XBoxes, get fit, join the forces and save hard. That way you can get on the property ladder at an early age and still have plenty of life left in you for a second career.

 

[bastic]

It's such a shame they built that development. A lot of early military history ruined. Ironically, it was my service in the Royal Artillery which started off at Woolwich that allowed me to but my first house and become mortgage-free by my mid 30s.

My advice to young people is get off your XBoxes, get fit, join the forces and save hard. That way you can get on the property ladder at an early age and still have plenty of life left in you for a second career.

No xbox here
We are saving for deposit bit it is the whole amount that is a killer.

I hoped that someone on here knows more about mortgages etc...

Seems like shared ownership or moving further away are only options for some young couples that don't have a lot £ from their parents to back them up.

Still doesn't change the fact and my original question : how some can afford all those.expensive properties

 

[boyfalldown]

Seems like shared ownership or moving further away are only options for some young couples that don't have a lot £ from their parents to back them up.

Still doesn't change the fact and my original question : how some can afford all those.expensive properties

I read the other day that the sad reality is that central London is missing large nmbers of professons, such as music teachers simply beacuse they'repriced out of the market. As to how people afford those properies, unless you're on a city type salary I'm lost for how

 

[Steve Smith]

There's getting to be more and more fixed fee EA deals springing up.

So there should be. Every time I have bought and sold, I have paid the estate agent twice as much as the solicitor. It should be the other way round.


Steve.

 

[Byker28i]

No xbox here
We are saving for deposit bit it is the whole amount that is a killer.

I hoped that someone on here knows more about mortgages etc...

Seems like shared ownership or moving further away are only options for some young couples that don't have a lot £ from their parents to back them up.

Still doesn't change the fact and my original question : how some can afford all those.expensive properties

21 year old starting in the city on £60-80K probably. However Londons always been expensive for property.

 

[bastic]

21 year old starting in the city on £60-80K probably. However Londons always been expensive for property.

Must be plenty of them buying flats in Woolwich then

 

[Byker28i]

Yeah, a friends son started in the city after uni, bought one of those for cash with his saved up bonuses etc

 

[srichards]

You can buy a shared ownership flat in Woolwich for £99k. It's 30%. You rent the rest at £529 a month. You can buy a bigger share to reduce the rent on the other bit. It depends on the cost of the mortgage vs the extra rent. You might find it is much cheaper to keep a small share or or it doesn't make much difference and works out the same regardless. If you can get a 50% share then it puts you on a better footing.

If you get a decision in principle with a mortgage lender and make sure you know exactly what kind of things they lend and don't lend on eg flats above shops, what's the minimum lease time remaining then you are armed with enough information to go after a few things. This will also tell you the maximum value of anything you can chase as well.

Repossessions and failed to sell in Auction properties are good ones to go after but you have to move fast and don't dither. There was a flat where the top bid was £134k. Reasonable looking building. The Bexley heath borough seemed to contain reasonable priced places. There are quite a few in that search that are priced at 150k but have been for sale for months. Property Bee plugin for firefox is a great help.

 

[dejongj]

When we bought this house, it cost about 3.5 times my salary, 15 years and 2 promotions later and it's worth about 7x my current salary. And I live in the commuter belt as Doncaster to Kings Cross is an hour and a half.

Snap. Mine was 3x solely my income. Now it is more like 8x if I had to buy it again. Absolute madness, I couldn't afford my own home. Whilst on paper it is great, in practise it doesn't mean anything.

 

[POAH]

What the heck kind of reply is that??

Train to be a classical player for most of the life and your advise is to change profession ?

Find another thread in which you can troll.bye!

I didn't say change profession, I said change job.

 

[POAH]

Still doesn't change the fact and my original question : how some can afford all those.expensive properties

They have better paying jobs, they have rich parents, they have inherited wealth.

 

[andya700]

There's getting to be more and more fixed fee EA deals springing up.

Added to which many more people do not use EA's at all and simply advertise the house themselves.

 

[akr]

My brother did the shared ownership thing. Many years later he is now selling that to buy somewhere with his girlfriend - he would not have been able to had he not got on the ladder as such. It's almost worth buying somewhere just to stay in line with the price rises (no guarentee of course).

You could consider to continue renting and trying to buy to let somewhere else with a view to getting the capital value out of that in a good few years time, always the concern of course if your tenants do not pay the rent \ you can't rent it out.

In terms of London, I would look along the proposed Bakerloo extension line, maybe Catford etc. I moved to SE London from West 10 years or so ago as it was the only place we could afford, and since the Overground came in with connections to Canary Warf and Shoreditch \ Liv street prices have literally doubled. You'll probably get a good bounce in some of the areas with no tube the Bakerloo line will be extended to, and they will be a lot cheaper than the rest of London if your budget can stretch to that.

edit- annd I meant to add compromise. Where I live, most houses are nice period ones on quiet roads. We are on a main road, 1960s build small house, needed lots of work doing - we didn't have a fully working kitchen for 4 years! But it's worth it now for us as we've managed to get the work done on the house and are now happy and if sold would do ok out of it.

Good luck

Al

 

[onomatopoeia]

Musician/ Teacher(schools and private)gigs, late finished, travel around whole London between schools.
Living in London would be beneficial as she spends air of time on public transport as it is

So how about Ickenham / Uxbridge way? Tube station which makes London accessible and according to the signs at Ickenham station when I was there on Friday, they are going to be running them 24h soon. I came back from the Royal College of Music after a concert Friday evening and the tube was still running - I certainly wasn't on the last train.

Basic problem with London is too many people want to live there and not enough room for houses, which drives up prices and is why people commute from Swindon, Bristol, Taunton and even Exeter every day.