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The economic recovery increaes pace
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Wonderful.
Originally posted by BanksCan't afford to make mortgage repayments? How about we cut the repayment in half and you gamble that you'll be able to afford the full rate in 3 years? -
My first mortgage was for 56k when I earned 20k and was an interest only mortgage. It was cheap enough to get me out of my parents house and gave me enough confidence that a few years later I was comfortable with my outgoings and able to change the product and go on a beer fuelled credit spurge that spunked close to a million decade later and left me skint when the tulip hit the fan So it worked fine for me
Some people will take these and be fine others will become a cautionary tale...Comment
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Originally posted by bobspud View PostMy first mortgage was for 56k when I earned 20k and was an interest only mortgage.Comment
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Originally posted by bobspud View PostMy first mortgage was for 56k when I earned 20k
What we're now looking at are 250K mortgages against probable salaries of around 30K (taking average figures). Even if you have 2 wage earners on that (so 60K income) you're jumping from a 2.8 multiple to 4.16. That is unreasonable in my mind.
And as AtW says, that 60K is worth a lot less now than it would have been back when you bought.Comment
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Originally posted by AtW View PostHow much was pint of beer and a liter of diesel?Comment
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Originally posted by bobspud View PostBeer was probably £3 in our local bar and probably 70p a litre it was only the 90's for godsake
http://www.speedlimit.org.uk/petrolprices.html
And £3 a pint in the 90s? Were you in central London, or were you one of those s who will only ever drink Peroni... especially on my roundComment
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Originally posted by Ticktock View PostI can see absolutely nothing that could possibly go wrong with this...
We've not learned this salutory lesson about debt have we.Comment
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Originally posted by Ticktock View PostI think you may be misremembering:
http://www.speedlimit.org.uk/petrolprices.html
And £3 a pint in the 90s? Were you in central London, or were you one of those s who will only ever drink Peroni... especially on my roundComment
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Originally posted by BrilloPad View PostMcCoy: "Medical men are trained in logic."
Spock: "Trained? Judging from you, I would have guessed it was trial and error."Comment
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