Capital? What's that like? London innit?
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What % do house prices need to fall before you are in negative equity?
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I voted 50% as that would mean my mortgage would be slighly more than the house value. Literally speaking that's confusing as I have an offset mortgage with <£8K outstanding.
As I pay higher rate tax I find offset to be better value on my savings than most other methods.Comment
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Originally posted by sasguru View PostHow are you paying off the capital?Comment
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Originally posted by Chugnut View PostInterest only monthly payments, but with occasional bulk payments?Hard Brexit now!
#prayfornodealComment
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Originally posted by DimPrawn View PostHow are you paying it off in 5 years if you have an interest only mortgage?
It'll probably be paid in 4 years really, but we wanted to account for the wedding costs this year.The pope is a tard.Comment
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Originally posted by Chugnut View PostInterest only monthly payments, but with occasional bulk payments?The pope is a tard.Comment
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Originally posted by sasguru View PostLets hope so. Of course negative equity still applies.
The thing is, I coudn't care less! I have a 6 bedroom 3 storey house in the centre of a city I love - it's never going to be "worth" less than £280k to me.
"Negative Equity" as a theory only exists if you want it to
Sal in <if a tree falls in the forrest and noone is around to hear it> modeThe pope is a tard.Comment
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Originally posted by SallyAnne View PostThe mortgage is linked to our joint account. We put £2k in each every month, with bulk payments each year.
It'll probably be paid in 4 years really, but we wanted to account for the wedding costs this year.
It's interesting - never had to think of it like that.Hard Brexit now!
#prayfornodealComment
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Originally posted by SallyAnne View Post"Negative Equity" as a theory only exists if you want it to
If you don't have to sell, it's irrelevant.Cooking doesn't get tougher than this.Comment
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Originally posted by SallyAnne View PostYeah I guess it does really. We still have to pay off £280k, even if our house plummits to being "worth" less than that. (Cause that's what we paid for it).
The thing is, I coudn't care less! I have a 6 bedroom 3 storey house in the centre of a city I love - it's never going to be "worth" less than £280k to me.
"Negative Equity" as a theory only exists if you want it to
Sal in <if a tree falls in the forrest and noone is around to hear it> mode
Although I can't get over £280K for a 6-bed town house.Hard Brexit now!
#prayfornodealComment
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