Contracting in a recession

[WTFH]

I was also told by my mortgage advisor that having a 40% deposit wouldn't get me a rate much better than if I had 5%

I was told by mine that getting about 65% LTV was the way to go.
It might not get you a better rate on one particular deal, but it will open up the number of options to you.

It also means you don't have as big a debt. (minor point, as many don't see a mortgage as a debt and don't treat it as such)

[GJABS]

I've just negotiated a 60% pay increase ....

Assuming that's for yourself I think that's worthy of a couple of

[d000hg]

I just checked on compare the market and to my surprise my current lender would offer the same interest rate/monthly payment for 2,3 and 5 year fixed deals. Not what I was expecting.

Hefty get-out fees?

[vetran]

Assuming that's for yourself I think that's worthy of a couple of

The power of a NMW rise!

[jamesbrown]

and if house prices fall leading to a rise in negative equity.

I would have thought the housing market must be at risk of a significant downturn over the next year or so.

You'd think, massively.

But I've thought that many more times than it actually happened.

[DealorNoDeal]

You'd think, massively.

But I've thought that many more times than it actually happened.

Me too. Even in the wake of the 2008 GFC, it wasn't that bad. The late 80s downturn seemed worse (lots of repossessions and negative equity).

[BlueSharp]

Contracting in IT:

There is a recession coming - lets invest in IT so we can cut costs

Boom times - Lets start lots of vanity projects as we have money to burn

[vetran]

Me too. Even in the wake of the 2008 GFC, it wasn't that bad. The late 80s downturn seemed worse (lots of repossessions and negative equity).

I suspect it will happen again.

[Whorty]

Assuming that's for yourself I think that's worthy of a couple of

Cheers

[Whorty]

Contracting in IT:

There is a recession coming - lets invest in IT so we can cut costs

Boom times - Lets start lots of vanity projects as we have money to burn

Exactly ... if you're in the project world you'll continue to do well. But just a bum on seat, then who knows.....