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Matteeboy. I can't be bothered to read your extremely long post which is obviously going to be biased towards renting because that's what YOU do.
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I love it, a debate based on what you think someone might say but you cant be arsed to read the post to confirm.
Read the small print, thats a good way of avoiding debt ! |
Originally Posted by speye91
(Post 7289415)
I owe £40 to me Dad.:lol1: :lol1: ;)
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Nothing at all - Nothing to no one - not one penny every my wife and I earn is 100% ours
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ha ha, my dad owes me ;)
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Originally Posted by StickyMicky
(Post 7290159)
ha ha, my dad owes me ;)
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Originally Posted by Matteeboy
".........Matteeboy
Some property musings from a rather astute and wealthy person I know..." "Although govt has "injected" money into market it will not help future loans much or for very long"
Originally Posted by Matteeboy
"and it can't drop interest rates much or £ will drop (really low against € now) so much that imports will be expensive etc etc...."
Originally Posted by Matteeboy
"And what made me think more than anything else was that - even if house prices do not fall directly, the impact of mortgage constraints is huge.
If some one has £5000 available for deposit (the sector he is dealing with) then they used to be able to get a 95% motgage (or 100% or 110%!) so could buy a house for £100,000 But now it is very difficult to get better than 80% LTV (?) " Would this wealthy and astute person happen to read the Daily Mail? |
I owe £243 to the credit card company
no morgage /debts and i have a very poor wage now but no stress/grief (apart from the Misses who wants a new dress ) |
Originally Posted by Matteeboy
(Post 7289165)
So say you suddenly can't work and insurance don't cough up (they often wriggle out of it) - then that house and the huge mortgage can't be paid back. Suddenly that "non debt" is one HELL of a debt and gets repossesed, losing you a fortune.
If that isn't a debt, then I really don't know what is!! Not knocking mortgages but find it interesting that people forget about them conveniently when talking about debt. Default on a mortgage and you really are in the deepest of deep merde. |
At the moment i owe £650 on a credit card and that is it. Saying that! i have no money left in savings as it's all been spent on my house this past few months. New bathroom etc etc. i hate having no money in saveings so i'm trying like made to get some put away.
My mrs on the other hand is in about 15k worth of debt from uni. |
Daz - They can repo you for 1%. Anyway - it will be interesting to see if Matteboy can justify the 'musing' of his rich friend or if he made it up and needs to leave again like he did with the fast boat and the crap car
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we sold up and moved to brisbane australia 3 months ago so nothing
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if i add up all my stuff it would be around 25/30k, and i earn 16.5k a year. and that is for me, the mrs and 6 month baby girl.
yes things are hard, but we try and do the best we can, and be happy |
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