Register  |   Log In  |  
Sign up to our weekly newsletter    
Follow us on   
Search   
Forum Home Register for Free! Log In Moderator Tickets FAQ Users Online

RE: Mortgages..who's got one?

 
Logged in as: Guest
  Printable Version
All Forums >> [On Another Note...] >> Off Topic >> RE: Mortgages..who's got one? Page: <<   < prev  1 [2] 3 4   next >   >>
Login
Message << Older Topic   Newer Topic >>
RE: Mortgages..who's got one? - 14/6/2007 4:10:55 PM   
Felix

 

Posts: 15692
Joined: 29/9/2005
From: Brighton
quote:

ORIGINAL: captain jack harknes

I got a mortgage with my boyf last year - our flat was 120,000 and we got our 1 year mortgage statement through recently - we now owe 124,000 (didn't realsise it would go up - must have been the fees we added on!!) and we still have 39 years left to go!!!! So i'll be 62 when its paid for!

We were lucky that a lot of the furniture was free with the flat (Redrow gave us new sofas etc. as an incentive) so our initial set up costs weren't as bad as they would have been if we had to buy furniture, carpets etc. as well.  Although we're broke I'm glad we did it as I can only see it getting more expensive in the future.



You got a 40 year mortgage?! Jesus!

I dont like most of the people in this thread, our mortgage was 165,000 when we took it out. We're just coming to the end of our 3 year protected rate period, so should be interesting to see the interest payments go up.

_____________________________

[This space for rent] -

(in reply to captain jack harknes)
Post #: 31
RE: Mortgages..who's got one? - 14/6/2007 4:25:33 PM   
ilovebeerme


Posts: 4531
Joined: 30/9/2005
From: Magic Beans

30-40 year mortgages are becoming very common as people require more money at a cheaper monthly rate but for longer. It means you end up paying back an absurd amount, but it can be the leg up some folk need, and you can always reduce it later. My mortgage was taken over 35 years and the total repayment is well over double the price of the property.


_____________________________

Like food and wine? Come join the conversation at http://kitchendecanted.com/

Latest post - Chicken with Thai basil and chili

(in reply to Felix)
Post #: 32
RE: Mortgages..who's got one? - 14/6/2007 4:36:36 PM   
Felix

 

Posts: 15692
Joined: 29/9/2005
From: Brighton
We took a 25 year mortgage as we figured the first few years would be the years we had the most money. Going to have to renegociate now we've got a little one on the way.

_____________________________

[This space for rent] -

(in reply to ilovebeerme)
Post #: 33
RE: Mortgages..who's got one? - 14/6/2007 4:40:35 PM   
ilovebeerme


Posts: 4531
Joined: 30/9/2005
From: Magic Beans
Heh heh!  I figured the exact opposite and assumed the first few years would be when I had the least money due to salary increases etc.  Children eh....hmmm......not for a while



_____________________________

Like food and wine? Come join the conversation at http://kitchendecanted.com/

Latest post - Chicken with Thai basil and chili

(in reply to Felix)
Post #: 34
RE: Mortgages..who's got one? - 14/6/2007 4:40:43 PM   
Woger


Posts: 3815
Joined: 30/9/2005
In the last few years in Ireland 100% and even 120% mortgages were available.

_____________________________

Eddie: "Weve been burgaled"
Richie: You may have been, but I have never in my life. As a christian I am so tightly clenched, oh you mean burgaled
- - -
There were originally five horsemen of the apocalypse. Jack Bauer said he would travel by foot

(in reply to Felix)
Post #: 35
RE: Mortgages..who's got one? - 14/6/2007 4:42:13 PM   
Chief


Posts: 7778
Joined: 30/9/2005
From: Banshee
quote:

ORIGINAL: Felix

quote:

ORIGINAL: captain jack harknes

I got a mortgage with my boyf last year - our flat was 120,000 and we got our 1 year mortgage statement through recently - we now owe 124,000 (didn't realsise it would go up - must have been the fees we added on!!) and we still have 39 years left to go!!!! So i'll be 62 when its paid for!

We were lucky that a lot of the furniture was free with the flat (Redrow gave us new sofas etc. as an incentive) so our initial set up costs weren't as bad as they would have been if we had to buy furniture, carpets etc. as well.  Although we're broke I'm glad we did it as I can only see it getting more expensive in the future.



You got a 40 year mortgage?! Jesus!

I dont like most of the people in this thread, our mortgage was 165,000 when we took it out. We're just coming to the end of our 3 year protected rate period, so should be interesting to see the interest payments go up.


That's a bit harsh!

I've got mine over 25 years but it's coming up to the two year introductory point where we have to renegotiate and find the best lender again.

Is it best to go to the financial advisor again or try and find a better one on my own?

(in reply to Felix)
Post #: 36
RE: Mortgages..who's got one? - 14/6/2007 4:43:16 PM   
Felix

 

Posts: 15692
Joined: 29/9/2005
From: Brighton
I was only joking.

Its mainly rikkie I dont like. Grrr.

< Message edited by Felix -- 14/6/2007 4:46:43 PM >


_____________________________

[This space for rent] -

(in reply to Chief)
Post #: 37
RE: Mortgages..who's got one? - 14/6/2007 6:26:01 PM   
pedros


Posts: 1667
Joined: 20/10/2005
I'm about to get a mortgage - an offer on a house has just been accepted so the application is going through as we type.

I'm very fortunate though in that my parents are helping me out alot and investing 30k in this house - that's how much i was short despite the fact that i am borrowing 5x my salary and repaying over 35 years. It's very scary, but i can't wait till i move in.

_____________________________

I'd rather see Dave Lee Travis play Macbeth.

Hey, wha' happened???

(in reply to Felix)
Post #: 38
RE: Mortgages..who's got one? - 17/10/2009 6:52:56 PM   
JessFranco


Posts: 2523
Joined: 30/9/2005
From: London
Anyone had much experience of part-ownership arrangements? It looks like, for not that much more than i'm currently paying in rent, i might be able to afford to pay the mortgage on a 50% share in a flat as well as renting the other 50%.

Are they terrible value for money or a reasonable way of getting some equity?


_____________________________

Even the French know better than to fuck with me

http://closer-to-perfection.tumblr.com/

(in reply to pedros)
Post #: 39
RE: Mortgages..who's got one? - 17/10/2009 8:44:42 PM   
kathryn2

 

Posts: 1511
Joined: 24/4/2006
I'm about to have a mortgage - we're exchanging contracts on moday, hopefully!
*Crosses fingers and toes*

I'm buying on my own, which is even scarier. Put down a 22k deposit and got the flat for 112k, so mortgage is 91k, with fees rolled in, over 30 years, fixed for 3. I'm hoping that in a few years I'll be able to re-mortgage onto a better rate and bring down the term (or will be earning more and able to afford to pay more off the mortgage).

Fees - 1k for mortgage arrangement, about 1250 for solicitors, but got 250 back from mortgage company towards that, 325 for survey, another 200 for gas and electrical reports. The place needs approx 1500 spent to bring the electrics up to scratch and really needs the boiler replacing, so that'll be another 2-3k probably.

My new mantra whenever anyone asks me if I want to do something is 'I can't afford it'.

< Message edited by kathryn2 -- 17/10/2009 8:46:25 PM >

(in reply to JessFranco)
Post #: 40
RE: Mortgages..who's got one? - 17/10/2009 8:50:11 PM   
juanvasquez


Posts: 7626
Joined: 2/9/2006
From: The cupboard under the stairs
We are currently waiting for the mortgage to come through.

Fucking skint now though. Had the solicitors take some money for fees without even telling me which is nice!

Should hopefully be all done in the next 4-6 weeks. Hope to be moved into the new house for christmas.

_____________________________



Check out my cult games reviews and features at Horror Cult Films

(in reply to kathryn2)
Post #: 41
RE: Mortgages..who's got one? - 17/10/2009 8:54:20 PM   
Walkerboy


Posts: 3022
Joined: 30/9/2005
We bought our house 8 1/2 years ago, taking out a mortgage of 89,000.
Since then we've added to it twice to add a conservatory, do some improvements etc. so it's now at about 91k I think, coming out at 690 per month.
Can't complain for a 3 bed semi........

We took out a 2 year fixed at 5.79% in Summer of last year, just before the interest rates plummeted.  We're a bit gutted that they dropped, but in reality we know that every month our payment will be constant.  On the upside, when the 2 year ends in June we actually DROP to 4% if the standard base rate remains as it is.

Because it's innevitible that the rates will eventually rise we're considering taking a 10 year fixed next summer.... means that when the 10 years is up we only have 11 to go!
It guarantees that we won't have to rebudget as rates increase.

I don't look at it being a weight on us as it's a roof over our heads, a home for our kids and will always be worth something in the future.


_____________________________

"The Internet is a communication tool used the world over where people can come together to bitch about movies and share pornography with one another."

(in reply to Felix)
Post #: 42
RE: Mortgages..who's got one? - 17/10/2009 9:14:04 PM   
homersimpson_esq


Posts: 20118
Joined: 30/9/2005
From: Springfield
Never had a mortgage, don't have a chance of getting one. Although at the moment it's a moot point cos I live in accommodation that comes rent-free with the job. Which is marvellous, really, all things considered.

_____________________________

That deep-browed Homer ruled as his demesne.


Bristol Bad Film Club
A place where movie fans can come and behold some of the most awful films ever put to celluloid.

(in reply to Walkerboy)
Post #: 43
RE: Mortgages..who's got one? - 17/10/2009 10:43:47 PM   
BishopQuaker


Posts: 4667
Joined: 29/6/2007
From: Manchester
I've got a mortgage.
I need to change it in Feb of next year so hopefully I can get a better deal.

I pay more than I need to every month in order to chop it down but I think when I get a new mortgage I'm going to set my standard payment a bit higher than I do now.

I hate oweing (sp) money so paying as much of my mortgage as quickly as I can makes me happy.

That reminds me... must check lottery numbers.

_____________________________


(in reply to homersimpson_esq)
Post #: 44
RE: Mortgages..who's got one? - 17/10/2009 11:11:53 PM   
homersimpson_esq


Posts: 20118
Joined: 30/9/2005
From: Springfield
You just disproved my theory BQ. Almost every single time people question their spelling with a "(sp?)" type thing, the spelling is correct. (And often surrounded with errors they never noticed.) In this instance your querying was valid - it's "owing". 

_____________________________

That deep-browed Homer ruled as his demesne.


Bristol Bad Film Club
A place where movie fans can come and behold some of the most awful films ever put to celluloid.

(in reply to BishopQuaker)
Post #: 45
RE: Mortgages..who's got one? - 18/10/2009 10:55:12 AM   
Badgers


Posts: 1398
Joined: 1/5/2009
quote:

ORIGINAL: JessFranco

Anyone had much experience of part-ownership arrangements? It looks like, for not that much more than i'm currently paying in rent, i might be able to afford to pay the mortgage on a 50% share in a flat as well as renting the other 50%.

Are they terrible value for money or a reasonable way of getting some equity?




I bought my place on part ownership just over half a year ago, I recommend it. Rental prices around here are crazy, around 800 and higher for a 2 bedroom apartment. The cost of my mortgage, rent and service charge combined is 550. Its also a nicer feeling to own something rather than be renting it, unless something goes wrong.

Whats with all these four figure numbers for the legal costs? Mine were about 700, I'm guessing because I wasn't subject to stamp duty.

_____________________________

Stuntcock!


quote:

ORIGINAL: Kilo_T_Mortal

Just let me know where and when.


(in reply to JessFranco)
Post #: 46
RE: Mortgages..who's got one? - 18/10/2009 10:59:02 AM   
juanvasquez


Posts: 7626
Joined: 2/9/2006
From: The cupboard under the stairs
My solicitor is quite expensive, but I'm getting a good deal as they are owned by the same person as the estate agent, so it's all done in house, and therefore things will get done a little quicker.

_____________________________



Check out my cult games reviews and features at Horror Cult Films

(in reply to Badgers)
Post #: 47
RE: Mortgages..who's got one? - 18/10/2009 11:41:06 AM   
Mr Dead


Posts: 1141
Joined: 17/5/2006
From: an express elevator to hell....going down!
Just organised my Mortgage etc on Friday. Scary stuff. the solicitors are coming in abut 800 or so along with all various arrangement fees, valuation and stuff. 

_____________________________

quote:

ORIGINAL: Harley Quinn
I don't know whether I should be in love with you Dead or afraid of you!


my sig is not quite as witty or clever as Circe's


A thinker and a fighter since day 1 of the Zombie Apocalypse


(in reply to juanvasquez)
Post #: 48
RE: Mortgages..who's got one? - 18/10/2009 12:22:55 PM   
JessFranco


Posts: 2523
Joined: 30/9/2005
From: London
quote:

ORIGINAL: Badgers

quote:

ORIGINAL: JessFranco

Anyone had much experience of part-ownership arrangements? It looks like, for not that much more than i'm currently paying in rent, i might be able to afford to pay the mortgage on a 50% share in a flat as well as renting the other 50%.

Are they terrible value for money or a reasonable way of getting some equity?




I bought my place on part ownership just over half a year ago, I recommend it. Rental prices around here are crazy, around 800 and higher for a 2 bedroom apartment. The cost of my mortgage, rent and service charge combined is 550. Its also a nicer feeling to own something rather than be renting it, unless something goes wrong.

Whats with all these four figure numbers for the legal costs? Mine were about 700, I'm guessing because I wasn't subject to stamp duty.


Thanks, i'll definitely look into it,


_____________________________

Even the French know better than to fuck with me

http://closer-to-perfection.tumblr.com/

(in reply to Badgers)
Post #: 49
RE: Mortgages..who's got one? - 18/10/2009 6:42:07 PM   
kathryn2

 

Posts: 1511
Joined: 24/4/2006
quote:

ORIGINAL: Badgers
Whats with all these four figure numbers for the legal costs? Mine were about 700, I'm guessing because I wasn't subject to stamp duty.


Oh, the solitcitor's actual fee was about 600, but the total I had to pay included quite a bit of other stuff for searches and registractions and paperwork etc. Partly because I am buying a flat with a leasehold, so there's been lease stuff to sort out. Freeholds are a lot more straightforward.

I'm not paying stamp duty either.

(in reply to Badgers)
Post #: 50
RE: Mortgages..who's got one? - 18/10/2009 7:10:39 PM   
BishopQuaker


Posts: 4667
Joined: 29/6/2007
From: Manchester
quote:

ORIGINAL: homersimpson_esq

You just disproved my theory BQ. Almost every single time people question their spelling with a "(sp?)" type thing, the spelling is correct. (And often surrounded with errors they never noticed.) In this instance your querying was valid - it's "owing". 


Well I had a go... AND I had the good grace to check!

I'm currently paying 521.79 or something odd a month but I pay 600. I can pay an extra 499 every month which is pretty good.

I paid off a fair lump before I started my mortgage so hopefully I'll have it paid off by the time I'm erm... 40 maybe?
Bugger

_____________________________


(in reply to homersimpson_esq)
Post #: 51
RE: Mortgages..who's got one? - 19/10/2009 12:28:59 PM   
shool


Posts: 10086
Joined: 24/3/2006
From: In The Pipe, Five by Five.
Yay gotta love mortgages. Not!

We started out at this house with a 64k mortgage which was tiny. Now we have massively extended and improved the house and we are currently sitting at a mortgage of just under a 100k. Repayments are at 660 per month which is manageable.

The wife doesnt work so covering this on my own at the moment. However our part time business should cover this every month in the next 6 months. Yay!




_____________________________

Invisio Text for Spoilers
[ color=#F1F1F1 ] Spoiler text [ /color ] , remove spaces between square brackets

"No one knows what it means, but it's provocative... It gets the people going!"

(in reply to BishopQuaker)
Post #: 52
RE: Mortgages..who's got one? - 19/10/2009 4:07:22 PM   
Sinatra


Posts: 7857
Joined: 3/10/2005
We've got a huge mortgage, but are paying a tiny interest rate (tracking at 0.49% above base) - so it's swings and round abouts I guess. Still painful though.

(in reply to shool)
Post #: 53
RE: Mortgages..who's got one? - 20/10/2009 4:48:16 PM   
Castor Troy


Posts: 7076
Joined: 30/9/2005
From: Rocky's graveside
Just in the process of getting our first mortgage. It's a good time to buy at the moment, but we went for a 2 year tracker so we're hoping the interest rates don't go too mental for a while, which we've been told they shouldn't for at least a year. It's not really that scary - the deposit is the hard bit - we put down 15% which is about 24,750 I think but after that there's always options if it all goes tits up.

_____________________________

The individual human mind. In a child's ability to master the multiplication table, there is more holiness than all your shouted hosannas and holy holies. An idea is more important than a monument and the advancement of Man's knowledge more miraculous than all the sticks turned to snakes and the parting of the waters.

(in reply to Sinatra)
Post #: 54
RE: Mortgages..who's got one? - 20/10/2009 4:55:38 PM   
Sinatra


Posts: 7857
Joined: 3/10/2005
Good luck mate!
I wouldn't have thought you'd have to worry about rates rising much above 2% for at least 3-4 years.
(Touch wood)

(in reply to Castor Troy)
Post #: 55
RE: Mortgages..who's got one? - 20/10/2009 8:57:29 PM   
Felix

 

Posts: 15692
Joined: 29/9/2005
From: Brighton
We'll be getting rid of our mortgage over the next couple of months, as we have the option to rent a bigger place from a family member at about half the cost of our mortgage. Luckily prices have gone up in our area since we bought so we will be able to clear our debts and still bank a nice deposit to get back on the ladder. It also means that we'll be able to afford to live off Mrs F's wages so that i can stay off and look after Little F instead of sending her to a nursery.

_____________________________

[This space for rent] -

(in reply to Sinatra)
Post #: 56
RE: Mortgages..who's got one? - 20/10/2009 11:56:52 PM   
samthemanc


Posts: 1547
Joined: 20/11/2007
From: here to eternity
I've got a mortgage and I bloody hate it - bout in with my dad and bro pretty much against my will and now i'm stuck with it. That bein said, thanks to the tracker rate we're now paying less a month than you could rent for. So it ain't all bad

_____________________________

Fashion is a form of ugliness so intolerable that we have to alter it every six months. - Oscar Wilde

From now on, ending a sentence with a preposition is something up with which I will not put. - Winston Churchill

Dying's a day worth living for - Captain Barbossa

(in reply to Felix)
Post #: 57
RE: Mortgages..who's got one? - 21/10/2009 6:57:28 AM   
Castor Troy


Posts: 7076
Joined: 30/9/2005
From: Rocky's graveside
quote:

ORIGINAL: Felix
It also means that we'll be able to afford to live off Mrs F's wages so that i can stay off and look after Little F instead of sending her to a nursery.


That's the dream right there.


_____________________________

The individual human mind. In a child's ability to master the multiplication table, there is more holiness than all your shouted hosannas and holy holies. An idea is more important than a monument and the advancement of Man's knowledge more miraculous than all the sticks turned to snakes and the parting of the waters.

(in reply to Felix)
Post #: 58
RE: Mortgages..who's got one? - 21/10/2009 10:26:57 AM   
Sinatra


Posts: 7857
Joined: 3/10/2005
quote:

ORIGINAL: Castor Troy

quote:

ORIGINAL: Felix
It also means that we'll be able to afford to live off Mrs F's wages so that i can stay off and look after Little F instead of sending her to a nursery.


That's the dream right there.



What he really means is that he'll be on here all day....!

(in reply to Castor Troy)
Post #: 59
RE: Mortgages..who's got one? - 21/10/2009 1:05:59 PM   
clownfoot


Posts: 7916
Joined: 26/9/2005
From: The ickle town of Fuck, Austria
quote:

ORIGINAL: Sinatra

quote:

ORIGINAL: Castor Troy

quote:

ORIGINAL: Felix
It also means that we'll be able to afford to live off Mrs F's wages so that i can stay off and look after Little F instead of sending her to a nursery.


That's the dream right there.



What he really means is that he'll be on here all day....!


What a loser!

_____________________________

Evil Mod 2 - Hail he who has fallen from the sky to deliver us from the terror of the Deadites!

http://www.thepixelempire.net/index.html
http://clownfootsinversemidas.blogspot.com/

(in reply to Sinatra)
Post #: 60
Page:   <<   < prev  1 [2] 3 4   next >   >>
All Forums >> [On Another Note...] >> Off Topic >> RE: Mortgages..who's got one? Page: <<   < prev  1 [2] 3 4   next >   >>
Jump to:





New Messages No New Messages
Hot Topic w/ New Messages Hot Topic w/o New Messages
Locked w/ New Messages Locked w/o New Messages
 Post New Thread
 Reply to Message
 Post New Poll
 Submit Vote
 Delete My Own Post
 Delete My Own Thread
 Rate Posts


Movie News|Empire Blog|Movie Reviews|Future Films|Features|Video Interviews|Image Gallery|Competitions|Forum|Magazine|Resources
Forum Software © ASPPlayground.NET Advanced Edition 2.4.5 ANSI

0.266