Soldato
I guess I'll pay the extra £380 a month just for that.One benefit of home ownership is that it puts an end to other homeowners harping on about rent being dead money and how renters should get on the property ladder!
I guess I'll pay the extra £380 a month just for that.One benefit of home ownership is that it puts an end to other homeowners harping on about rent being dead money and how renters should get on the property ladder!
20 year mortgage?!? My rent is cheaper than a mortgage and makes sense to me.
Also a bit of a reach... Some people just have different living costs and are comfortable renting.Lay off of the bloke chaps. A lot of folks game the system and have no intention of living to the max in their later years (or any of their years frankly). They'd rather earn just under the various thresholds and get by, which is totally fine and admirable - but these folk moan about it along the way as well. Then when they are decrepit, they'll jump on the social and get us to fund their lifestyle (and cover their rent).
And some mortgages are cheaper than renting... Perhaps, rather than suggesting mortgaging for everyone not having kids is daft, you'd consider that it is better than renting for some?
It was yourself that suggested that anyone mortgaging that doesn't plan to have kids is daft. Do you stand by this for every circumstance where no kids are involved?
Also a bit of a reach... Some people just have different living costs and are comfortable renting.
No coasting about it, I will be spending considerably less money once we stop renting this year. Just the ****ed nature of the market in cities and the South. Presumably this is not the market he exists in.
I don't doubt this - being comfortable renting is fine, but I highly doubt the poster is financially secure as well. Seeing renting as "saving £380" is daft as the £380 should be going into other mechanisms to provide financial security in the future.Also a bit of a reach... Some people just have different living costs and are comfortable renting.
No coasting about it, I will be spending considerably less money once we stop renting this year. Just the ****ed nature of the market in cities and the South. Presumably this is not the market he exists in.
If they've paid into the system for 30+ years aren't they funding their own lifestyle and covering their rent when jumping on the social?Lay off of the bloke chaps. A lot of folks game the system and have no intention of living to the max in their later years (or any of their years frankly). They'd rather earn just under the various thresholds and get by, which is totally fine and admirable - but these folk moan about it along the way as well. Then when they are decrepit, they'll jump on the social and get us to fund their lifestyle (and cover their rent).
I don't doubt this - being comfortable renting is fine, but I highly doubt the poster is financially secure as well. Seeing renting as "saving £380" is daft as the £380 should be going into other mechanisms to provide financial security in the future.
My point stands then. You can't call buying daft just because you've planned on living on the social.At the moment it saves £380 I don't have.
20 year mortgage?!? My rent is cheaper than a mortgage and makes sense to me.
I'm not planning on living on the social but I don't see that as a negative.My point stands then. You can't call buying daft just because you've planned on living on the social.
Do you mean your rent is cheaper than the interest portion of a mortgage payment or the full mortgage payment?
In my area, rent payments are roughly the same as mortgage payments for a similar property. You might be paying £1000 monthly rent and somebody else in the same house next door is paying £1000 monthly for their mortgage.
But the rent payment costs you £1000 per month. The mortgage effectively costs around £300 per month because that's the interest portion and the rest of the monthly payment goes against the capital so you'll get that back when you sell the house.
BTL landlords are almost always on interest only mortgages though, so that isn't unsurprising.Sisters house is under £400 mortgage payments, my rent for one bed flat exceeds that.
All the landlords I know including my own charge more for the rent than their mortgage costs except one guy.
Although rents are very unfavourable for one bed flats as the supply and demand is horrific for them.
Sisters house is under £400 mortgage payments, my rent for one bed flat exceeds that.
All the landlords I know including my own charge more for the rent than their mortgage costs except one guy.
Although rents are very unfavourable for one bed flats as the supply and demand is horrific for them.
Despite the 175 posts so far discussing how rent is more than mortgage in most people's experience?Mortgage is rarely lower than rent these days. Equal at best.
e.g. of my upcoming mortgage V rent.
mortgage £1700/m V rent £1250/m
both houses similar size and same number of beds and 2 minutes away from each other.
£1700 presumably is a capital repayment though. Most landlords will just be servicing the debt to make a modest return (3-7%) and then taking the equity from house price growth out at some point to finance the BTL deposit on another BTL - rinse and repeat and the model pays for itself.Mortgage is rarely lower than rent these days. Equal at best.
e.g. of my upcoming mortgage V rent.
mortgage £1700/m V rent £1250/m
both houses similar size and same number of beds and 2 minutes away from each other.
Thing is, mortgage monthly payments will only ever go down as you pay it off. Renting on the other hand....