Guest chris955 Posted March 24, 2013 Share Posted March 24, 2013 Maybe less of a deposit? The point was a £1000 a month repayment would service a mortgage close to £240,000 but the house in question was apparently £110,000 so the repayments would be closer to the £500 I mentioned which he totally dismissed. Link to comment Share on other sites More sharing options...
pablo Posted March 24, 2013 Share Posted March 24, 2013 The point was a £1000 a month repayment would service a mortgage close to £240,000 but the house in question was apparently £110,000 so the repayments would be closer to the £500 I mentioned which he totally dismissed. It would be a bit more than 500 i think,going on my mortgage anyway,650-700 maybe? Link to comment Share on other sites More sharing options...
Guest chris955 Posted March 24, 2013 Share Posted March 24, 2013 I know what the idea is,it matters to me who the money is prioritised for,its a "leg up,for those who havent got a deposit",thats how it was sold,they should be first in line But as I say as long as the number of loans to be given isnt limited there is nothing to say they wont be first in line. Link to comment Share on other sites More sharing options...
Guest chris955 Posted March 24, 2013 Share Posted March 24, 2013 It would be a bit more than 500 i think,going on my mortgage anyway,650-700 maybe? If he borrowed the whole amount without any deposit it would be £550 a month. If he had paid 10% deposit it would be £500.62p. Those figures are approximate Link to comment Share on other sites More sharing options...
Guest51810 Posted March 24, 2013 Share Posted March 24, 2013 When we went to see about a mortgage i think it was working out not much more than rent - around the £400-450. That was on a house around 90k so not exactly much compared to people who have houses in the 200k-300k region. We needed at least a 20% deposit though. They gave us leaflets about that LIFT scheme and told us to ring up about it but it was geared towards people who were on lower wages. In the end we didnt apply for it, dont feel ready for a mortgage Link to comment Share on other sites More sharing options...
pablo Posted March 24, 2013 Share Posted March 24, 2013 But as I say as long as the number of loans to be given isnt limited there is nothing to say they wont be first in line. My point is they should be prioritised tho,if there "was" a lot of speculators eating into a capped amount of money,there is a danger the pot could run dry before the first time buyers/one mortgage people are allocated their deposits,the scheme "might" work,i hope it does obviously,but it has to be administered properly Link to comment Share on other sites More sharing options...
pablo Posted March 24, 2013 Share Posted March 24, 2013 If he borrowed the whole amount without any deposit it would be £550 a month. If he had paid 10% deposit it would be £500.62p. Those figures are approximate I need to re mortgage then if those figures are correct Link to comment Share on other sites More sharing options...
Skyba Posted March 24, 2013 Share Posted March 24, 2013 It seems that some would rather it were illegal to be rich, the trouble is when some have naff all because they cannot be bothered to go out and get it they want everyone else to have naff all, it is jealousy and bitterness at work. Lol, I'm not poor and I'm not suffering as much as most I'm just not so self absorbed that I can't see and understand others suffering. And in the nhs, the problems aren't with the odd broken arm lol, we're talking about actual sick people, I have chrons and have had major open bowel surgery, I have a friend with cancer, my girlfriend works in a ward which deals with people with similar bowel problems to me. The fact that you use a physio appointment and a broken arm to discuss nhs problems shows your lack of understanding.. Link to comment Share on other sites More sharing options...
Skyba Posted March 24, 2013 Share Posted March 24, 2013 The point was a £1000 a month repayment would service a mortgage close to £240,000 but the house in question was apparently £110,000 so the repayments would be closer to the £500 I mentioned which he totally dismissed. He didn't give me his bank details unfortunately, all I know Is that he paid £110k about 5 years ago, to begin with he was paying an interest only mortgage at about £700 a month and it would rise to £1000 once the interest only period ended. and you are living in a complete dreamland if you think anyone getting a mortgage with less than 60% deposit will be paying £500 on anything other than a mud hut Link to comment Share on other sites More sharing options...
Guest chris955 Posted March 24, 2013 Share Posted March 24, 2013 I need to re mortgage then if those figures are correct Sorry I was .5 out on my interest rate, should be 575 and 527 respectively. There are some really good deals around at the moment that could knock £60 or more off that fixed until 2015. Might be worth a look Link to comment Share on other sites More sharing options...
Skyba Posted March 24, 2013 Share Posted March 24, 2013 When we went to see about a mortgage i think it was working out not much more than rent - around the £400-450. That was on a house around 90k so not exactly much compared to people who have houses in the 200k-300k region. We needed at least a 20% deposit though. They gave us leaflets about that LIFT scheme and told us to ring up about it but it was geared towards people who were on lower wages. In the end we didnt apply for it, dont feel ready for a mortgage Thats the thing, you live in Scotland am I right?? I grew up in Cornwall where the average house price is around the 200- 250k mark amongst the highest in the country whilst the wage is amongst the lowest, and why, because of second home owners which this new scheme will help out which in turn will disadvantage the poor I'm areas like this because house prices will keep rising because billy big wallet wants another holiday home. For 90k in Bristol or in Cornwall you wouldn't get a thing, maybe a 1 bedroom flat in Bristol in St. Paul's if you're lucky, well not so lucky because I wouldn't live there if you paid me, i don't fancy being mugged on a daily basis. Link to comment Share on other sites More sharing options...
wakeboard1980 Posted March 24, 2013 Share Posted March 24, 2013 I know what the idea is,it matters to me who the money is prioritised for,its a "leg up,for those who havent got a deposit",thats how it was sold,they should be first in line Agree Link to comment Share on other sites More sharing options...
pablo Posted March 24, 2013 Share Posted March 24, 2013 Thats the thing, you live in Scotland am I right?? I grew up in Cornwall where the average house price is around the 200- 250k mark amongst the highest in the country whilst the wage is amongst the lowest, and why, because of second home owners which this new scheme will help out which in turn will disadvantage the poor I'm areas like this because house prices will keep rising because billy big wallet wants another holiday home. For 90k in Bristol or in Cornwall you wouldn't get a thing, maybe a 1 bedroom flat in Bristol in St. Paul's if you're lucky, well not so lucky because I wouldn't live there if you paid me, i don't fancy being mugged on a daily basis. The scheme might work if it prioritises first time buyers or those with only one mortgage,im no tory,i cant abide them,but if theres anything to help the economy we have to embrace it and hope it works,i agree it "could" be abused tho,hence i stress first time buyers/one mortgage people. I used to stay in St Pauls,Armoury square,didnt think it was too bad tbh,but i like Bristol to be fair Link to comment Share on other sites More sharing options...
pablo Posted March 24, 2013 Share Posted March 24, 2013 Agree Whats the date...................... Link to comment Share on other sites More sharing options...
wakeboard1980 Posted March 24, 2013 Share Posted March 24, 2013 Whats the date...................... ??? Link to comment Share on other sites More sharing options...
pablo Posted March 24, 2013 Share Posted March 24, 2013 ??? So i can put it in my diary,san fairy ann...... Link to comment Share on other sites More sharing options...
wakeboard1980 Posted March 24, 2013 Share Posted March 24, 2013 You've lost me now Link to comment Share on other sites More sharing options...
Guest chris955 Posted March 24, 2013 Share Posted March 24, 2013 Thank goodness it wasnt just me Link to comment Share on other sites More sharing options...
pablo Posted March 24, 2013 Share Posted March 24, 2013 You've lost me now We agreed on something=im putting it in my diary,didnt think it was that hard tbh,but anyway Link to comment Share on other sites More sharing options...
Guest chris955 Posted March 24, 2013 Share Posted March 24, 2013 We agreed on something=im putting it in my diary,didnt think it was that hard tbh,but anyway Ah yes, I may need to do the same after the last couple of days but most havent disappointed Link to comment Share on other sites More sharing options...
Guest51810 Posted March 24, 2013 Share Posted March 24, 2013 Yeah im in scotland, I couldnt ever afford to stay somewhere like cornwall - not even renting. Thats why i get a bit annoyed when people say why do you live somewhere that maybe doesnt have the best employment rate - well if i moved somewhere like Cambridge just so i could get a job somewhere like tesco then it still wouldnt make sense! The houses cost a lot more. Anyway im rambling now. The scheme i was talking about is only for first time buyers - you cant already have a house. The government lend you the deposit and then you pay them it back. I didnt look into it any further though so i dont know the ins and outs of it Link to comment Share on other sites More sharing options...
pablo Posted March 24, 2013 Share Posted March 24, 2013 Ah yes, I may need to do the same after the last couple of days but most havent disappointed Well that was a first for me i think,i wont agree on very much with the tories,thats just the way it is,doesnt bother me,all good fun as long as yer dont get a titty lip isnt it? Link to comment Share on other sites More sharing options...
Guest chris955 Posted March 24, 2013 Share Posted March 24, 2013 Well that was a first for me i think,i wont agree on very much with the tories,thats just the way it is,doesnt bother me,all good fun as long as yer dont get a titty lip isnt it? Its why I dont follow any party tbh. Labour types do seem very sensitive though Link to comment Share on other sites More sharing options...
pablo Posted March 24, 2013 Share Posted March 24, 2013 Its why I dont follow any party tbh. Labour types do seem very sensitive though Yeah ok Chris....................... Link to comment Share on other sites More sharing options...
wakeboard1980 Posted March 24, 2013 Share Posted March 24, 2013 We agreed on something=im putting it in my diary,didnt think it was that hard tbh,but anyway Its not that often that we do disagree though. Link to comment Share on other sites More sharing options...
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