Whats your mortgage on your main property (ie counting BTL/investements)?

[sasguru]

Really DA?

[TykeMerc]

Luckily I went for a septic tank, which I pay for by licking the streets of London clean every day for 4 pence a year.

Luxury!!!

Yes I really am a Yorkshireman so I'm entitled to the response.

Following my divorce I bought a small terraced house as it was cheaper than renting. It does the job for me and if I ever want to sell it it will probably be reasonably easy to unload. I got it cheap so the chances of me losing money on it are tiny and the mortgage is a nice offset making my savings income tax free, according to my last statement the offset has represented over £1500 in interest savings since April, I doubt I could have beaten that rate of return in any interest paying account.

[El_Diablo]

All properties have been paid off

[Cyberman]

5 times as much equity as mortgage............

[TykeMerc]

5 times as much equity as mortgage............

Maybe, but if you were to put your property on the market today I would be stunned if you realised a buyer at anything like the asking price.....

[Cyberman]

Maybe, but if you were to put your property on the market today I would be stunned if you realised a buyer at anything like the asking price.....

So would I, but that's due to lack of mortgages and lack of confidence of buyers and sellers, so the answer is to wait until normality returns around 2010.

[tim123]

I have no idea

I'll have to ask the Landlord

tim

[TykeMerc]

So would I, but that's due to lack of mortgages and lack of confidence of buyers and sellers, so the answer is to wait until normality returns around 2010.

So your statement that your house represents an equity value of 5x your mortgage is utter carp and you admit it.

Even if the housing market recovers in a few years you have no idea if you have positive or negative equity at this point or what the value will represent in 5 years time.

There are so few houses actually selling any mythical values you can come up with at the moment are just so much hot air.

[TheFaQQer]

So your statement that your house represents an equity value of 5x your mortgage is utter carp and you admit it.

Even if the housing market recovers in a few years you have no idea if you have positive or negative equity at this point or what the value will represent in 5 years time.

There are so few houses actually selling any mythical values you can come up with at the moment are just so much hot air.

Shhh - don't feed the troll.

[TykeMerc]

Shhh - don't feed the troll.

I'm enjoying a battle of wits versus an unarmed opponent here, it's Friday so I've shut down my braincell since I don't need it.