Mortgage Rate Rises

ci_newman said:
Parts of Norfolk (e.g Hunstanton) are lovely areas and have cheap housing - but there's absolutely naff-all to do there. Any kind of recreational activity (cinema, karting, theatres, museums) is a minimum 1hr drive away.

That's before you even look at the road infrastructure to get anywhere. A major airport to fly anywhere is 2+ hours away.

Boston is pretty much the same, no?
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Hunstanton is lovely. You can visit the sea life centre ;)
But its very much a tourist in summer dead the rest of the year round place.

Boston there are only roads out, once someone gets away they never go back ;)

But yes generally house prices are linked by accessability to travel to major cities/towns or direct access to well paid jobs.

Same for the southwest, too far from most major cities etc, not many decent jobs. Nice tourist spot for the summer/weekends so property prices held up by that.

I used to work with a guy who lived somewhere not that far from Gatwick. He said that the nice houses in Bury st edmunds (ie the old character ones) would be 3-5x as expensive where he lived.
Wages probably 1.5-2x (max)
 
ci_newman said:
Parts of Norfolk (e.g Hunstanton) are lovely areas and have cheap housing - but there's absolutely naff-all to do there. Any kind of recreational activity (cinema, karting, theatres, museums) is a minimum 1hr drive away.

That's before you even look at the road infrastructure to get anywhere. A major airport to fly anywhere is 2+ hours away.

Boston is pretty much the same, no?
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Oh I absolutely agree. Jobs that pay well is far less likely in those area's but doesn't mean it is impossible and if you can find something in your expertise then it is fantastic. There are far more opportunities in cities obviously but when the disparity between house prices is that massive it just makes you think what are your priorities. I would need an extra 50K P/A after tax to live the same life as I do here plus I would have to deal with all the burdens of living in the city. That would take me into the 120k+ club quite easily if I wanted the same quality of life here in the South.

Especially now where most people's mortgage will go to their 60's it just makes you think is it really worth it? Especially those who have super high paying jobs who have to put it into bricks and motor instead of enjoying it. It is just all bit mad at the moment.

I live in a village on the outskirts but I can get to Stansted or East Midlands airport in 90 minutes off peak. A16 all the way down to Peterborough then M1/A14/M11 to Stansted. Pretty straight forward since they expanded the A14 at cambridge. Nottingham and Lincoln are both about an hour. Peterborough 45 mins. The beach is 40 minutes away (Skegness or Hunstanton) and we get some of the best weather in the summer. (Hottest on record was 15 minutes down the road from me).

Cadwell Park (Race track), Kinema in the woods (Historic Cinema) plus plenty of Historical things to view all within 30 minutes drive.

The key difference is that although you need to travel to get to places the roads are generally less clogged so it evens out compared to a city. I have had times where it has taken me 45 minutes to go 5 miles in London before. 40 minute delays just to get through the Dartford tunnel is pretty much par for the course which obviously sucks big time if you live in the South East and want to actually go anywhere.
 
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ci_newman said:
Parts of Norfolk (e.g Hunstanton) are lovely areas and have cheap housing - but there's absolutely naff-all to do there. Any kind of recreational activity (cinema, karting, theatres, museums) is a minimum 1hr drive away.

That's before you even look at the road infrastructure to get anywhere. A major airport to fly anywhere is 2+ hours away.

Boston is pretty much the same, no?
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I know both areas.. No comment!
 
Mercenary Keyboard Warrior said:
Hunstanton is lovely. You can visit the sea life centre ;)
But its very much a tourist in summer dead the rest of the year round place.

Boston there are only roads out, once someone gets away they never go back ;)

But yes generally house prices are linked by accessability to travel to major cities/towns or direct access to well paid jobs.

Same for the southwest, too far from most major cities etc, not many decent jobs. Nice tourist spot for the summer/weekends so property prices held up by that.

I used to work with a guy who lived somewhere not that far from Gatwick. He said that the nice houses in Bury st edmunds (ie the old character ones) would be 3-5x as expensive where he lived.
Wages probably 1.5-2x (max)
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OK, I'll comment! I :D

Yeah I'd never go back to that part of Lincolnshire. It's very very cheap for where it is. But the scenery is bleak. Flat, unnatural.
Its like a grid of artificial water ways and fields with an odd tree here and there.

But if you want a big house on the south and that's all that matters, money goes a long way!

I grew up 14 miles from bury St Edmunds, then lived a few years later near Peterborough, spent too many years in the east
 
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413x said:
OK, I'll comment! I :D

Yeah I'd never go back to that part of Lincolnshire. It's very very cheap for where it is. But the scenery is bleak. Flat, unnatural.
Its like a grid of artificial water ways and fields with an odd tree here and there.

But if you want a big house on the south and that's all that matters, money goes a long way!
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Isn't it due to be underwater in 20 years time anyway? Maybe they'll rename it to "West Wash".
 
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Foghorn Leghorn said:
Dangerous game putting your bins out late at night....
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Im city central so luckily the bin store room is locked and has cctv in there now! Homeless people managed to get in there a few years ago and were going through the bins.

Im central but feel more secure than ever, there’s 20 cctv cameras in/on/around my apartment complex.

To get to my front door you go past 1 fob door, lobby, another fob door and main apartment internal locked door. Doing so you go past 6, maybe 7 cctv cameras. The area of Leeds city center im in has more cameras per square km than anywhere in Europe (apparently, not sure if thats true)
 
Guest2 said:
Im city central so luckily the bin store room is locked and has cctv in there now! Homeless people managed to get in there a few years ago and were going through the bins.

Im central but feel more secure than ever, there’s 20 cctv cameras in/on/around my apartment complex.

To get to my front door you go past 1 fob door, lobby, another fob door and main apartment internal locked door. Doing so you go past 6, maybe 7 cctv cameras. The area of Leeds city center im in has more cameras per square km than anywhere in Europe (apparently, not sure if thats true)
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Sounds lovely...
:p
 
SixTwoSix said:
Lol, I know you have a gorgeous house ;) , just wondered what level of top revenue earner you need to be for a bank to give close to 4k repayments
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The thing is it depends how long the mortgage is over. People often think about mortgage payments being over a 20-30 year term but if the term is 10 years then they will naturally be higher repayments.
The last time we remortgaged we lowered the term to 7 years which meant our monthly payments might have seemed 'high' but we hadn't actually borrowed a huge amount and hence didn't need monster salaries.
 
HangTime said:
The thing is it depends how long the mortgage is over. People often think about mortgage payments being over a 20-30 year term but if the term is 10 years then they will naturally be higher repayments.
The last time we remortgaged we lowered the term to 7 years which meant our monthly payments might have seemed 'high' but we hadn't actually borrowed a huge amount and hence didn't need monster salaries.
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Surely regardless, your income/expenditure is going to dictate the monthly rate, regardless of duration?
 
Guest2 said:
Im city central so luckily the bin store room is locked and has cctv in there now! Homeless people managed to get in there a few years ago and were going through the bins.

Im central but feel more secure than ever, there’s 20 cctv cameras in/on/around my apartment complex.

To get to my front door you go past 1 fob door, lobby, another fob door and main apartment internal locked door. Doing so you go past 6, maybe 7 cctv cameras. The area of Leeds city center im in has more cameras per square km than anywhere in Europe (apparently, not sure if thats true)
Click to expand...
Jesus! This is a thing?
 
413x said:
OK, I'll comment! I :D

Yeah I'd never go back to that part of Lincolnshire. It's very very cheap for where it is. But the scenery is bleak. Flat, unnatural.
Its like a grid of artificial water ways and fields with an odd tree here and there.

But if you want a big house on the south and that's all that matters, money goes a long way!

I grew up 14 miles from bury St Edmunds, then lived a few years later near Peterborough, spent too many years in the east
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That is what is great about humans in that we all like different things. I haven't been far into Wales really. Welshpool and Wrexham is about the furthest I have gone but being surrounded by valleys and narrow roads almost gets me claustrophobic. I guess spending a huge chunk of my life in the East midlands has given me that. My father was a career soldier so have lived and travelled many places. I was actually born in Huntingdon but my father retired at 50 and we moved to Lincolnshire at a young age. I guess I will be a yellow belly for life now. I think I would enjoy living in Holland or Ukraine as that is equally as flat.


CapitalOne said:
Isn't it due to be underwater in 20 years time anyway? Maybe they'll rename it to "West Wash".
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It was but they have just spent 100 million on a tidal barrier which is now complete and in operation. Protection for the next 100 years.


The area is far too valuable to go under water. It supplies 20% of the uk's food and processes something silly like 70% of fish. The rest of the country would starve and go into chaos.
 
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Guest2 said:
Im city central so luckily the bin store room is locked and has cctv in there now! Homeless people managed to get in there a few years ago and were going through the bins.

Im central but feel more secure than ever, there’s 20 cctv cameras in/on/around my apartment complex.

To get to my front door you go past 1 fob door, lobby, another fob door and main apartment internal locked door. Doing so you go past 6, maybe 7 cctv cameras. The area of Leeds city center im in has more cameras per square km than anywhere in Europe (apparently, not sure if thats true)
Click to expand...

I regularly forget to lock the doors at night and on several occasions I've woken up to find I'd left the back door wide open overnight*.

Admittedly the fox cub in the utility room was a bit of a surprise.....




*Don't tell Mrs F whatever your do :D
 
adam cool dude said:
That is what is great about humans in that we all like different things. I haven't been far into Wales really. Welshpool and Wrexham is about the furthest I have gone but being surrounded by valleys and narrow roads almost gets me claustrophobic. I guess spending a huge chunk of my life in the East midlands has given me that. My father was a career soldier so have lived and travelled many places. I was actually born in Huntingdon but my father retired at 50 and we moved to Lincolnshire at a young age. I guess I will be a yellow belly for life now. I think I would enjoy living in Holland or Ukraine as that is equally as flat.




It was but they have just spent 100 million on a tidal barrier which is now complete and in operation. Protection for the next 100 years.


The area is far too valuable to go under water. It supplies 20% of the uk's food and processes something silly like 70% of fish. The rest of the country would starve and go into chaos.
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Totally! If we all liked the same stuff life would be boring and houses would be ridiculous!

Fortunately, although we both like different things, we both live outside the expensive areas!

More people who like city life the better.


I lived in Alconbury for a couple of years as well as Peterborough.

Mid Suffolk > Sheffield > Alconbury > Peterborough > Stamford > East Cardiff
 
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Foghorn Leghorn said:
I regularly forget to lock the doors at night and on several occasions I've woken up to find I'd left the back door wide open overnight*.

Admittedly the fox cub in the utility room was a bit of a surprise.....




*Don't tell Mrs F whatever your do :D
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Where I grew up, we didn't have keys. Never ever was the door locked. Caused much bother at uni as housemates kept telling me off for leaving door open.
 
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