Associate
- Joined
- 19 Jan 2010
- Posts
- 328
[TW]Fox;16099664 said:They take 9% of earnings above £15k.
so for them to take £900 per annum you'd need to gross £25K (above national average) sweet!
[TW]Fox;16099664 said:They take 9% of earnings above £15k.
They take like 5% of monthly income, any more and you have to have specified it. Poster isnt happy so doubt hes specified it, so to take £200 a month he must earn £4k a month ? In which case hes rich enough to not worry about the £200 as hes paying it back quicker.
Something doesnt make sense there ?
[TW]Fox;16099870 said:To be fair though isnt that a pretty huge mortgage you've chosen to take on?
It's only a two bedroom flat bought for £180k, with £149k of that borrowed.
It's only a two bedroom flat bought for £180k, with £149k of that borrowed.
A £1000pm repayment on a 149k mortgage? Thats clearly a decision you yourself have made, as that repayment is far higher than the figures could possibly add up to over a standard period.
A £1000pm repayment on a 149k mortgage? Thats clearly a decision you yourself have made, as that repayment is far higher than the figures could possibly add up to over a standard period.
Poster isnt happy so doubt hes specified it, so to take £200 a month he must earn £4k a month ? In which case hes rich enough to not worry about the £200 as hes paying it back quicker.
Something doesnt make sense there ?
That is the standard amount for a repayment mortgage on this amount at a 5.99% interest rate over 25 years. It's something like £969 per month.
No it isn't, the interest alone is over £740pm
Forgot the mega interest rate on an 82%LTV, i pay around the same for a mortgage 3 times that size at a lower LTV. Ouch. Sucks to be him.
Yep, I saved up £35k whilst living with parents to make a deposit on my place. I could have saved for longer but I'm 24 now, earning decent money, it was time to leave the nest. I've done that with no handouts from parents ever. But it doesn't suck to be me, it sucks to be about 90% of other people my age who can't afford even what I have.
Forgot the mega interest rate on an 82%LTV, i pay around the same for a mortgage 3 times that size at a lower LTV. Ouch. Sucks to be him.
It sucks that at higher LTV's rates skyrocket as they do though. Thats a mega repayment given the current situation we are in![]()
A quick glance around reveals the the goalposts have become fairly ridiculous, 70% seems to be the threshold for some of the better deals, with 60% being ideal. I guess this allows the banks to advertise attractive rates while keeping most customers stitched up with excessive rates.At what point do you get a jump to that sort of level anyway? ...I take it the goal posts have been shifted a bit, few years ago it wasn't unusual to hear about people taking on a 90% or even 95% mortage. Albeit probably ill conceived though.
So you have a mortgage for £450k and say that is 50% LTV? Your house is worth £900k?
I am in the 85% LTV bracket, as I didn't have enough to get under the 80% LTV bracket by a couple grand, which would have reduced it by about 1% or something.
Pretty depressing you're living in a place like that for the same as what I'm paying in a place like this!
That's the issueI could keep on justifying staying at home, saving up, to get that cheaper mortgage. But I could end up doing it forever!
Then when I have a big deposit, I might think hmmm I can get a better house.... LTV increase... BANG back where I started!