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]
Login
Message << Older Topic   Newer Topic >>
RE: Mortgages..who's got one? - 23/10/2009 4:20:59 PM   
shool


Posts: 10158
Joined: 24/3/2006
From: In The Pipe, Five by Five.
quote:

ORIGINAL: Sinatra

quote:

ORIGINAL: shool

I know a reputable one if you want his details feel free to PM me.


It's you isn't it??


No mate. Someone who comes to the same BNI meeting to me when I'm flogging my utilities. But if i get him business, he'll be more inclined to return the favour.


_____________________________

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 Sinatra)
Post #: 91
RE: Mortgages..who's got one? - 23/10/2009 9:55:56 PM   
Twisted Kitty


Posts: 464
Joined: 3/9/2009
From: Belfast
I took out my mortgage a few years ago now on what was a great interest deal at the time of 15 years fixed term. I wanted to know exactly how much I was going to pay each month - that was important to me as working to budgets etc.  I saw the rise in interest rates and friends lose their properties which was awful.  Taking out my mortgage over such a lengthy fixed term has had its ups and downs.  When interest rates went up I was luckily ok to continue my payments and quids in however now they've come down I am losing out.  I guess you never really know how the market is going to go whenever you take out a mortgage - I just went with the advice I was given at the time which was good advice for a good few years.  Circumstances can change too.  I originally took out a joint mortgage and because my ex and me separated I took over the mortgage in my sole name and managing it on one income now.  Even though I'm losing out at the moment I still have the attitude that at least I know what I'm paying for the next few years etc.  I never went into buying my house for making money but luckily mine has doubled in value so I kind of weigh that up against what I'm losing out on now.  I dont know, I'm perhaps a bit too chilled out about it all.

I was discussing the pro's and cons of having a mortgage with my friend.  She sold her house a few years ago.  She said she loves the freedom of renting now and would never go back to having a mortgage as when she gets fed up of the place she can just 'up and go' without having to worry.  She has been lucky though as moving has been of her choice and not her landlords!   


_____________________________

"I have a terrible headache, and a sudden craving for chicken wings"

(in reply to Woger)
Post #: 92
RE: Mortgages..who's got one? - 28/10/2009 1:14:35 AM   
lulu karma


Posts: 6328
Joined: 30/9/2005
From: on the east coast of the US
I used to own a house and then divorced. I decided that I did not want the house. It was a huge thing that was more his style than mine. Four bedroom, three full bath... for two people without children. No thanks.

I have rented the last several years. I have enjoyed it. It freed things up while I was traveling and if I wanted to move, it was easy to relocate. Now, I have decided to stay in the area and have started thinking about buying in a few years. The goal is to have about $30,000 to put down and do a 25 year mortgage on about $130,000. That will buy a small cottage style house with 2 bedroom and 1 1/2 bath in this area.

Houses in the UK are outrageous compared to most of the US. I was floored at rent costs, nevermind the cost of buying!

For example... I now rent a two bedroom townhouse with most of the utilities and cable included for $600 a month. Hardwood floors, quiet neighborhood, private porch and deck, about 5 minutes from the state capitol. The same place in the UK would be insane to rent. Then again, in NYC it would probably cost around $5,000 a month for this place - in a dodgy neighborhood. The place I rented there was tiny, private bedroom and bath, shared kitchen, livingroom. $1800 a month plus all utilities. That was back in 2000-2002. I would hate to see the cost now. It was not a rent controlled building.

_____________________________

I feel like I'm Han Solo, and you're Chewie and she's Ben Kenobi and we're in that fucked-up bar.

This is the captain speaking. It appears we are going down. Now may be the time to reflect upon your life and pray to whatever deity you believe in. We know you have your choice of airlines and apparently you made the wrong one.

The eyes are the nipples of the face.

(in reply to Newander)
Post #: 93
RE: Mortgages..who's got one? - 31/5/2011 7:27:08 PM   
Rebenectomy


Posts: 5629
Joined: 20/1/2008
From: 10-0-11-0-0 by 0-2
Been thinking about this myself recently, my sister has bought her own house, but I'm still renting. Just wondering what the general consensus is in light of the economic downturn? Is owning worth the financial burden, anyone changed their tune in the past few years?

_____________________________

Body Hair Beautiful: An Armpits for August Special
http://www.lipstogetherandblow.com/2013/07/body-beautiful.html

(in reply to lulu karma)
Post #: 94
RE: Mortgages..who's got one? - 31/5/2011 8:50:35 PM   
Ref


Posts: 7461
Joined: 5/10/2005
From: Leicester
Hopefully going to seriously look this/next year, as I'm going to buy a house with my sis. We're trying to get at least 25 000 deposit to make it a tad easier (we're nearly there). But the problem being is that I'm on a low paid admin job (12 000), whereas she's on a much high wage than me (the majority of people are). We've already agreed to have a fixed rate mortgage, so then we can budget. But it's a proper pain, and I know worse is still to come

_____________________________

Viewers of a nervous disposition may be interested to know that your television is off and I am speaking to you from inside your head...

Hugh Dennis, Mock the Week

Icon created by the talented JaD

(in reply to Rebenectomy)
Post #: 95
RE: Mortgages..who's got one? - 1/6/2011 11:34:49 AM   
shool


Posts: 10158
Joined: 24/3/2006
From: In The Pipe, Five by Five.
Got a mortgage of 135k. Bit bigger than I'd like, but I do like my house.

_____________________________

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 Ref)
Post #: 96
RE: Mortgages..who's got one? - 1/6/2011 1:49:27 PM   
great_badir


Posts: 4662
Joined: 6/10/2005
From: A breaking rope bridge in the middle of the jungle
Reb - unless you have a sizable deposit (of much more than the usual 10-15%), the arguments for buying over renting are getting weaker. Despite what the media would have you believe, "average" house (i.e. 2-3 bed terrace or semi) prices in most areas have not dropped that much, the houses are just taking a lot longer to sell. Prices of larger houses, posh flats on the outskirts of towns and bungalows have suffered, but these are out of reach for most first time buyers. Some popular areas (like Bath, where I work) prices have even been going up and desirable areas really have not been touched by the economic downturn. In fact where I live in Midsomer ("where the murders happen") Norton, prices have pretty much been the same as they were when things were going good under Labour, and the houses have always sold eventually.

There are a lot more shared ownership options these days - I think every new-build estate now has to have a portion of shared ownership as well as a portion of Council housing - which helps first time buyers, but getting a mortgage for outright ownership, especially with the rates not being particularly favourable (although we are a LONG way off the ridiculous rates of the 80s) just doesn't add up as much as it used to.

I say all this as a home owner with a mortgage. In the last 6-7 years since moving into our current home interest rates have gone up from lower-mid 3% to approaching 6% which, on a 100K mortgage, is quite tough on the average family that we are (both wife and I slightly-above-but-not-by-much average wage earners, me full-time, wife part-time, one child). On top of that we've spent nearly 3K on a new boiler, 2K having one side of the roof done and several hundreds of pounds on various improvements. If you rent and you have a problem you call your landlord and it's covered in your rent. Improvements (cosmetic or otherwise) tend to be done every few years by most half-decent landlords (of course, there are shit-holes and scummy landlords around, but I'm excluding them from my point as that's another topic). Not so long ago the average mortgage length was 20 years. When we took out our mortgage in 2004 it was 25 years. Now it's 30 to 35 years, with most lenders offering 40 years as an option. Basically a lot of people will be paying a mortgage for most, if not all, of their lives. Which is akin to renting, but without a landlord to fall back on for problems.

Of course, with renting you still have the potential temporary stop and not knowing when you're going to have to move again - unless you can get a very long lease (which is rare in this country), that will always be a problem with renting.

At some point, with the way prices and mortgage rates are going, I wonder if we may end up in the not too distant future as having similar options as some European and/or Asian countries - a lot of German households are long-term (20 years plus) lets and in much of Japan and built-up China people often take out 100 year plus mortgages which can then either be passed down to the next generation or two, or passed on with the house/flat when it is sold.

Personally, I do prefer the security of owning my own house and mortgage, but I'm not against renting as much as I used to be.

It all depends what suits your needs.

_____________________________

FAVE FILMS
BO BOMBS

(in reply to shool)
Post #: 97
RE: Mortgages..who's got one? - 1/6/2011 2:10:28 PM   
Beno


Posts: 8134
Joined: 15/2/2007
From: Sheffield
Being much older than most folks on here i have seen things change almost to an unrecognisable situation in the housing market over the last 25 years.
Im currently on my third property with a Mortgage having already paid off two previous ones .... but i have to say i cant see how it can be easy for anyone in the average wage bracket to even get a Mortgage these days.
It looks like renting is the way to go for a lot of folks and what i have done in the housing market without being exactly loaded cannot be done anymore ....... unless you save really well or are something akin to mega wealthy.

_____________________________

"The one about the space hairdresser and the cowboy. He's got a tinfoil pal and a pedalbin. His Father's a robot and he's fucking fucked his Sister. Lego ... They're all made of fucking Lego!!"

(in reply to great_badir)
Post #: 98
RE: Mortgages..who's got one? - 2/6/2011 12:47:23 PM   
jediwarrior


Posts: 20016
Joined: 30/9/2005
From: At home eating twiglets
Yeah I've just bought my first house. I'm now the Banks bitch

_____________________________

GAMERTAG: hothtrooper

The hate of men will pass, and dictators die, and the power they took from the people will return to the people. And so long as men die, liberty will never perish.

(in reply to Beno)
Post #: 99
RE: Mortgages..who's got one? - 3/6/2011 7:22:39 PM   
gingerdaniel


Posts: 2187
Joined: 27/5/2006
From: Usually the couch
I never spotted this thread before.

I have a joint mortgage with my girlfriend, we got a 3 bed terraced house, shit concrete garden, on the upside there's no maintenance to it! We moved in last July, nearly a whole year has passed! Flippin eck!

_____________________________

Do you run? Check THIS out

(in reply to shool)
Post #: 100
RE: Mortgages..who's got one? - 3/6/2011 8:52:49 PM   
Rebenectomy


Posts: 5629
Joined: 20/1/2008
From: 10-0-11-0-0 by 0-2
I think I'd be more inclined to stay renting if their were better houses to rent. So many rentals are student standard at best and not really practical for long term occupancy. The house we're in at the moment is okay, first time living in the burbs, but it isn't double glazed, is incredibly inefficient and has a lot of things wrong with it. The landlord is rubbish and the things he should be fixing never get done, while we're loathed to fork out ourselves on a place we don't own.

I've been reading a bit about eco houses for life and I'd rent them long term in a heartbeat if they were affordable and in a family friendly location.

_____________________________

Body Hair Beautiful: An Armpits for August Special
http://www.lipstogetherandblow.com/2013/07/body-beautiful.html

(in reply to gingerdaniel)
Post #: 101
RE: Mortgages..who's got one? - 3/6/2011 9:59:19 PM   
steffols


Posts: 7689
Joined: 3/10/2005
From: Jungleland
I am a complete and utter newbie at mortgages. Me and my other half are trying to a rent a place. We're having a bit of difficulty with estate agents and such so its been a bit more of a pain than it should be. But the prices we are looking at for renting, we thought we might as well get a mortgage as the rent payments round here are just ridiculous for the kind of place you're ending up in.

What sort of deposit do you need for a mortgage? In time we will go the bank and talk about this with them but I would just like some numbers floating around my head so that its not such a shock when we do start properly thinking about it.

_____________________________

It's midnight in Manhattan, this is no time to get cute, it's a mad dog's promenade,
So walk tall, or baby don't walk at all.

(in reply to Rebenectomy)
Post #: 102
RE: Mortgages..who's got one? - 3/6/2011 10:06:53 PM   
matty_b


Posts: 14579
Joined: 19/10/2005
From: Outpost 31 calling McMurtle.
I'm - hopefully - on the process of finalising mine. Buying it from my father-in-law which has made things a hell of a lot easier. I can well understand it being a nightmare, so I'd recommend to anyone doing it, particularly for the first time, to go through an interim company which removes the cost of needing an estate agent.

As for deposits - it all depends on the worth of the property and what the bank want, I suppose. But be prepared for a high four-figure sum, I would say.

_____________________________

quote:

ORIGINAL: Cool Breeze
Mattyb is a shining example of what the perfect Empire Forum member is.


(in reply to steffols)
Post #: 103
RE: Mortgages..who's got one? - 3/6/2011 10:08:44 PM   
great_badir


Posts: 4662
Joined: 6/10/2005
From: A breaking rope bridge in the middle of the jungle
quote:

ORIGINAL: steffols
What sort of deposit do you need for a mortgage?


If you have an excellent credit history and can prove that you are earning enough to cover the mortgage, most lenders will take a 10% deposit - that's been the minimum standard for years now, but in the current financial climate lenders are more concerned about your credit history and ability to pay the mortgage moving forward than they are how much you have to put down (100% mortgages can still be taken out with some lenders), although having a deposit is nevertheless preferable. 

These days a 15-20% deposit is probably a safer bet - more equity in the house, which is essential if you're only planning to stay there for a few years before moving up the chain.

Basically put down as much as you can afford, the higher the percentage against the mortgage amount, the better.


_____________________________

FAVE FILMS
BO BOMBS

(in reply to steffols)
Post #: 104
RE: Mortgages..who's got one? - 4/6/2011 9:54:14 PM   
Chojin


Posts: 4859
Joined: 29/6/2007
From: Bedfordshire
I saved for 3-4 years (25,000) and was given 10,000 from my parents and got a place for 115,000 (three bed house). I'll be spending a lot of years working on the place and paying for it, but I never wanted to rent. I've been working on it since February and hopefully it will be in some kind of liveable state come September time and i'll be able to move in. I'm still saving like a motherfucker and putting aside 1,000 per month for the work on the house after expenses.

Not a great life at the moment, but it won't last forever.

If you're living at home, save save save!!! I can't see how people can piss all of their money up the wall each month. Even if I went out and got battered each weekend it would only set me back around 200 for the month.



_____________________________

http://chojin.devour.org - Mixes, Contact, Etc
XBL/PSN - Chojin22000

(in reply to ilovebeerme)
Post #: 105
RE: Mortgages..who's got one? - 15/6/2011 11:33:37 PM   
rubadub


Posts: 778
Joined: 8/6/2007
From: A wretched hive of scum and villainy
quote:

ORIGINAL: jonson

Have I got a mortgage?
You'll have to ask the wife, she deals with that and she's not in at the moment.
Let me take your number and I can call you back when you're eating your dinner.
Twat.



SNAP !

(in reply to jonson)
Post #: 106
RE: Mortgages..who's got one? - 16/9/2011 11:23:51 AM   
JIm R

 

Posts: 9185
Joined: 30/9/2005
From: Surrey
Currently renting and saving and will go for a shared ownership scheme, as a single person there is no way in god's earth I can afford a mortgage, the banks will simply laugh in my face if I asked them with the level of deposit I can manage currently, where as my deposit required for shared ownership is 4,000 which is more managable.

(in reply to rubadub)
Post #: 107
RE: Mortgages..who's got one? - 18/9/2011 2:24:46 PM   
Snake-Eyes


Posts: 9970
Joined: 1/10/2005
From: ZONE 2
Nah. Been a council tenant since I was 19 - it sorta fell into my lap after my Mother died. Seems like too much headache for all those I know who have a Mortgage and besides I don't earn enough. If I ever win the Lottery, I'll buy a place. Hey, a little wishful thinking on a Sunday Afternoon is healthy!

_____________________________

"When you have to shoot, shoot don't talk."

http://www.expendablespremiere.com/index.html

(in reply to ilovebeerme)
Post #: 108
RE: Mortgages..who's got one? - 18/9/2011 2:50:30 PM   
superdan


Posts: 8302
Joined: 31/7/2008
The housing situation in this country is absolutely fucking crazy. My parents paid 70k for a house 13 years ago that is now 'worth' quarter of a million. All they've done to the house is put new carpet down, new wallpaper up and stuck double glazing in. In the 80's my nan was a receptionist for a small local business (nothing flash, just a stable decent job) and she was able to buy a nice 3-bedroom house and pay off the mortgage in 10 years. The is simply no way this could happen now.

Houses are simply too expensive, especially if you are single. At the end of my street, they built half a dozen tiny 1- and 2- bedroom flats which start at (bearing in mind I live in Hull) 85k. For a one bedroom pokey flat in Hull. It isn't as though renting is cheap either. It can cut out a lot of the sundry costs since you'll never have to fork out for a new boiler or whatever, but since you are at the mercy of the very people who have helped contribute to the spiralling cost of housing it's hardly a secure long-term option.

No wonder the people who can do fuck off out of here immediately.

(in reply to Snake-Eyes)
Post #: 109
RE: Mortgages..who's got one? - 18/9/2011 2:55:27 PM   
Snake-Eyes


Posts: 9970
Joined: 1/10/2005
From: ZONE 2
quote:

ORIGINAL: superdan

The housing situation in this country is absolutely fucking crazy. My parents paid 70k for a house 13 years ago that is now 'worth' quarter of a million. All they've done to the house is put new carpet down, new wallpaper up and stuck double glazing in. In the 80's my nan was a receptionist for a small local business (nothing flash, just a stable decent job) and she was able to buy a nice 3-bedroom house and pay off the mortgage in 10 years. The is simply no way this could happen now.

Houses are simply too expensive, especially if you are single. At the end of my street, they built half a dozen tiny 1- and 2- bedroom flats which start at (bearing in mind I live in Hull) 85k. For a one bedroom pokey flat in Hull. It isn't as though renting is cheap either. It can cut out a lot of the sundry costs since you'll never have to fork out for a new boiler or whatever, but since you are at the mercy of the very people who have helped contribute to the spiralling cost of housing it's hardly a secure long-term option.

No wonder the people who can do fuck off out of here immediately.



All so painfully true. And I don't wanna go off on a rant but I f**king HATE those 'Property Ladder' programmes that are constantly aired on daytime TV; I swear it's some sort of bull$**t subliminal, conspiracy-style message to remind us all of our status. Sort of "Whooo!! Look what we've got but you'll never have. Now run along to your meager-wage-paying 9 to 5!"
 
FUCKERS.
 
Anyhoo, to all who do have a Mortgage, Good Luck!

_____________________________

"When you have to shoot, shoot don't talk."

http://www.expendablespremiere.com/index.html

(in reply to superdan)
Post #: 110
RE: Mortgages..who's got one? - 18/9/2011 5:06:59 PM   
pedros


Posts: 1667
Joined: 20/10/2005
I've had a mortgage for just over 4 years now, but I don't know anything about it. I just pay 430 a month. It was all explained to me when I got it but it just went completely over my head. I don't even live there anymore, I rented the place out when I moved down to London. I haven't actually been there since I moved out two and a half years ago and have never met my tenants. I am very blase about this whole home-owning business.

_____________________________

I'd rather see Dave Lee Travis play Macbeth.

Hey, wha' happened???

(in reply to Snake-Eyes)
Post #: 111
RE: Mortgages..who's got one? - 19/9/2011 9:45:32 AM   
JIm R

 

Posts: 9185
Joined: 30/9/2005
From: Surrey
quote:

ORIGINAL: steffols

I am a complete and utter newbie at mortgages. Me and my other half are trying to a rent a place. We're having a bit of difficulty with estate agents and such so its been a bit more of a pain than it should be. But the prices we are looking at for renting, we thought we might as well get a mortgage as the rent payments round here are just ridiculous for the kind of place you're ending up in.

What sort of deposit do you need for a mortgage? In time we will go the bank and talk about this with them but I would just like some numbers floating around my head so that its not such a shock when we do start properly thinking about it.


Bare minimum of 10% plus fees of course. To be seriously recognised and taken 'seriously' by the bank, it's looking more like 25% these days, that's why it so hard, without a cash windfall or inherited property it's looking incredibly hard for everyone. Good luck Steffols

(in reply to steffols)
Post #: 112
RE: Mortgages..who's got one? - 11/3/2013 7:00:32 PM   
steffols


Posts: 7689
Joined: 3/10/2005
From: Jungleland
Well we went to view a house the other day which we absolutely fell in love with. Unfortunately now, I'm putting some rough numbers into mortgage calculators and it seems we probably won't be able to get a mortgage for the value of the property. Which has put a right downer on my night. We have a pretty sizeable deposit but we were hoping that we wouldn't have to use it all and maybe only use about half of it as a deposit, but for this house we looked at, the only way we could really afford it is if we put down the whole deposit on a 40 year mortgage, and with my other half being 33, I don't think thats a good way to go.

We want a decent sized house, we don't want to move again if the time comes that we need a bigger place, we just want to find the perfect home and settle there forever. Unfortunately, the prices round here are ridiculous. A three bedroom semi in the small town we've been looking are going for 160,000.

The place we looked at was a four-bedroom mid-terrace for 160,000, which we thought for the size of the place and location was pretty good. But now its looking like we won't be able to afford that at all. And I'm gutted cause its so perfect. We're going to see the Estate Agent on Wednesday but my bubble has been well and truly burst.

_____________________________

It's midnight in Manhattan, this is no time to get cute, it's a mad dog's promenade,
So walk tall, or baby don't walk at all.

(in reply to JIm R)
Post #: 113
RE: Mortgages..who's got one? - 10/4/2013 5:24:35 PM   
paulyboy


Posts: 2593
Joined: 30/9/2005

quote:

ORIGINAL: steffols

Unfortunately, the prices round here are ridiculous. A three bedroom semi in the small town we've been looking are going for 160,000.



I think that's quite modest compared to down my way currently, but it's all relative.

Me and the girlfriend finally put an offer in on a house last week and had it accepted.

The initial joy has been dampened somewhat by the full body cavity search both the bank and solictors are doing on our finances, making sure that A.) We have the deposit, B.) We can afford the mortgage and C:) We're not money laundering.

I've nothing to hide but the paranoid nutjob in me has visions of some persnickety little shit of a bean counter in a backroom somewhere pouring over my bank statements and insisting I can't afford a mortgage because of a Blu-Ray I once bought.

I won't be able to relax until those contracts are exchanged, the banks are so tight lately I'll believe I have a mortgage when the money clears, not a moment before.

_____________________________

"Pain heals, chicks dig scars, glory lasts forever!"

(in reply to steffols)
Post #: 114
RE: Mortgages..who's got one? - 10/4/2013 5:31:39 PM   
Hobbitonlass

 

Posts: 11919
Joined: 30/9/2005
From: Westeros

quote:

ORIGINAL: steffols
A three bedroom semi in the small town we've been looking are going for 160,000.


When I first saw that I thought wow, that's cheap. My one bedroom flat is worth 140,000.

I'd love to get a two bedroom house but to be able to afford it I would have to move right out of London (Surrey way) and then I was looking at properties around the 210,000 mark so still a lot of money .

_____________________________

Come join in the Photo competition http://www.empireonline.com/forum/tm.asp?m=3116407&mpage=1&key=

(in reply to steffols)
Post #: 115
Page:   <<   < prev  1 2 3 [4]
All Forums >> [On Another Note...] >> Off Topic >> RE: Mortgages..who's got one? Page: <<   < prev  1 2 3 [4]
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

0.125