[smudgie]

Originally Posted by Cherie

Its not the 90s either, interest on our first mortgage was 15 per cent

Aye, interest rates were really high years ago.
Thinking about it, we took out mortgage protection as well, in case anything happened, it would give us a bit of breathing space.

[user104658]

Originally Posted by smudgie

Hell no, I know it's a world of difference now TS.
We don't kid ourselves, if we were starting out now there is no way on earth we would end up where we are now in our lifetime.
Not just the ridiculous house prices but also the total lack of job security for so many people.
We had a few blips and worries on the way with the firm hubby works for being taken over three times since if was British Steel but he was fortunate enôugh to keep his job.
I really do worry for the future of our kids generation, something needs to be done re the hosing situation, and I mean a bit more thán whichever government that is in just wringing their hands and sayîng what they intend to do.

Yeah, a big part of my dilemma with work is security. I hate my job - actively despise it at times, it makes me miserable for weeks on end. The rest of the time it's just straight up mind-numbingly boring. Either way it's unchallenging and there's no scope for progression.

However, it's rock solid for decades to come (... Shudder...) unless I actively make some sort of mistake to mess it up. If I leave to pursue anything else, that might pay better or have better prospects going forward, then it adds a huge element of job insecurity. Meh. If I didn't have kids it would be a no-brainer, I'd be out of here in a heartbeat and take my chances, but with other people to consider and the potential consequences of unemployment it just becomes impossible.

[Cherie]

Originally Posted by smudgie

Aye, interest rates were really high years ago.
Thinking about it, we took out mortgage protection as well, in case anything happened, it would give us a bit of breathing space.

Sounds like you have a PPI claim Smudgie if you can lay your hands on the paperwork

[smudgie]

Originally Posted by Cherie

Sounds like you have a PPI claim Smudgie if you can lay your hands on the paperwork

I wouldn't think so, I mean, putting our hands on the paperwork.
We paid it for quite a few years until a financial advisor told us to stop.

[Cherie]

Originally Posted by Toy Soldier

Yeah, a big part of my dilemma with work is security. I hate my job - actively despise it at times, it makes me miserable for weeks on end. The rest of the time it's just straight up mind-numbingly boring. Either way it's unchallenging and there's no scope for progression.

However, it's rock solid for decades to come (... Shudder...) unless I actively make some sort of mistake to mess it up. If I leave to pursue anything else, that might pay better or have better prospects going forward, then it adds a huge element of job insecurity. Meh. If I didn't have kids it would be a no-brainer, I'd be out of here in a heartbeat and take my chances, but with other people to consider and the potential consequences of unemployment it just becomes impossible.

I know we are all different but if it were me I would want the security of my own home above all else, you could apply the same logic about moving jobs to providing food and warmth

[Cherie]

Originally Posted by smudgie

I wouldn't think so, I mean, putting our hands on the paperwork.
We paid it for quite a few years until a financial advisor told us to stop.

Damn they are only going back 6 years now without paperwork

[DemolitionRed]

Originally Posted by Toy Soldier

Based on this and just to clarify; I'm not being fussy or unwilling to work up... 2-bedroom ex council houses around here go for nearly £120,000. And I live in a small village in Scotland. It ain't the 80's any more, kids .

2 bed ex council houses go for a minimum of £half a million where we are. You can't get a tiny bedsit for less than £200k and the trouble with that is, for affordability reasons, when children fly the nest they have to move some distance away.

[DemolitionRed]

Originally Posted by Cherie

Why not? if you are buying a home rather than an investment it's a great time as buyers can take advantage of locking down a fixed rate for the next ten years, yes the value might fall but it will rise again down the road, equity in a property either positive or negative is just a figure in a home that you plan to live in for along time.

You're right about people who buy homes rather than investment properties to a point but I wouldn't be happy if I bought an apartment for 200k and five years later it was only worth £150. Yes, once we are in we can always sit it out and that's what people will do but if I was to hold my money back for now, I may well be in a position to buy at a much cheaper rate sometime soon.

[Cherie]

Originally Posted by DemolitionRed

You're right about people who buy homes rather than investment properties to a point but I wouldn't be happy if I bought an apartment for 200k and five years later it was only worth £150. Yes, once we are in we can always sit it out and that's what people will do but if I was to hold my money back for now, I may well be in a position to buy at a much cheaper rate sometime soon.

If you are a cash buyer that is sensible, if someone needs a mortgage they will never get it cheaper than now