Do you own your house
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  1. #21
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    We moved into our flat in 2003 when I was 21. We have remortgaged and changed terms and now have 17 years left to pay. We hoped to move again before I had ds2 but couldn't afford to so have been stuck here longer than we hoped. Next year our fixed rate is up and I will have 4 years of self employed income to go towards mortgage so we are hoping to be able to move then. However I live In a very expensive area so not sure if we will have to move away to do so.

  2. #22
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    Hi
    We finish paying our mortgage in 2021 so 7 years to go. Then we can concentrate on pensions!

    Deb
    Children are born with wings we help them to fly.

  3. #23
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    I bought my first house in 1992 when I was 21 with my partner at the time - 3 years later I left and handed him the house.(negative equity anyway). Rented for a year, then moved back in with parents for 2 to save. I then bought a house in my own name in a cheaper area (50 miles away). We have moved again to a bigger house in a cheaper area (200 miles away!). I not afford to rent!

  4. #24
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    Dh and I brought our house 18 yrs ago for £52.000, we 'borrowed' another £50.000 7 years ago to build our extension. I think myself fortunate, many of my friends pay a similar amount of rent, as we do Mortgage approx £680 pcm

    Ive no idea when the mortgage will be fully paid, will have to ask Dh
    Mandy
    Anyone got any Chocolate Buttons?

  5. #25
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    Bought my house in 1995 for the grand sum of £28,000! Took out a bigger mortgage to pay for the renovations. Then when my ex h left he left me with massive debts so I had to remortgage.

    Mortgage has 10 years to go and is at just under £40,000 and the house is worth a lot more.

    We couldn't afford our house now if we were looking again though.

    Wibble the skint xxx
    The bats have left the bell tower.....

  6. #26
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    Bought my first flat when I was 19. Have moved twice since then. Now with 4 kids + daughters partner with are in a 5 bed and still there isn't enough room. Lol

    Sent from my iPhone using Childminding Forum
    Mandy xx

  7. #27
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    Quote Originally Posted by TooEarlyForGin? View Post

    Kerry, do you have a legal agreement set up? If you are paying all of the mortgage, but you ex is still on the mortgage and deeds, when you come to sell, he could claim "his" half, it happened to my DH with his ex.
    No legal agreement but a solicitor told me as i have our daughter living with me then he is entitled to about 1% . Anyway if i sold the house at the moment i would just get enough to clear the mortgage. Dont want to sell anyway. Each case is different tho from lots of different stories ive been told. One day......

  8. #28
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    We bought a shared ownership house 7 years ago, when I was 32, DH 37. We have always rented, although we did own land and were building a house in Africa before we sold up and immigrated here.

    We bought a 50% share. Our mortgage is 450 a month whilst the rental is 150 a month. Probably sitting in negative equity and we want to move in 2015.

  9. #29
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    we are still paying off our mortgage. however, the value of our house now - no way could we ever buy it if we were looking now and it still needs loads of work to it - old kitchen, old bathroom, needing painting everywhere. We got it cheap at the time because it hadn't been decoated since the 70's and needed new windows all through. It's purely because of our age - we bought years ago in our late 20's when prices were literally £200k lower than now. So we were just lucky.

    If we were looking to buy now, on our salaries we'd be lucky to afford a 1 bed studio flat. I dread to think what our children will face


    hon, don't put yourself into too much debt buying. If a bargain doer upper comes along fine but life is too short.
    if you do what you've always done, you'll get what you've always got

  10. #30
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    Thanks for all the replys

    To be honest we weren't looking to buy but wen we seen this house it was too good to pass up

    We live in Yarm where the average house price just for a 2 bed flat is around 120,000

    The house we are looking at is a 3 bed semi with 2 reception rooms and garden room, new central heating system just been done and double glazed and the asking price is 125000 which we offered and he accepted but so did another couple who needs to sell their house before they have the funds - so now we just need to get a mortgage sorted my dad agreed to be on the mortgage but I can't be because of my credit score and not sure about my partner until he speaks to his accountant on Monday if that falls through it looks like we will be renting for a while yet

    Lol I didn't know attempting to buy a house is so stressful

    the house we rent at the mo is a 3 bed detached with 2 reception rooms it's a nice house and we only pay 625 a month rent but it needs a lot doing to it (double glazing throughout, new central heating system, hole in the ceiling lol the list goes on) we were really happy here and even landscaped the garden last year at our own cost then the owner put it up for sale the landlord is rubbish to say the least everything done in the house (we have decorated and recarpeted throughout) has been at our expense
    The landlord came a few months ago - the first time we have seen her we have lived here for 4 years and complained about the garden it wasn't to her Tate's and the decoration wasn't to her taste

    It just doesn't feel like my house anymore I just can't wait to move so if we can't buy we will be looking to rent else where after Christmas

  11. #31
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    Quote Originally Posted by adele1985 View Post
    Thanks for all the replys

    To be honest we weren't looking to buy but wen we seen this house it was too good to pass up

    We live in Yarm where the average house price just for a 2 bed flat is around 120,000

    The house we are looking at is a 3 bed semi with 2 reception rooms and garden room, new central heating system just been done and double glazed and the asking price is 125000 which we offered and he accepted but so did another couple who needs to sell their house before they have the funds - so now we just need to get a mortgage sorted my dad agreed to be on the mortgage but I can't be because of my credit score and not sure about my partner until he speaks to his accountant on Monday if that falls through it looks like we will be renting for a while yet

    Lol I didn't know attempting to buy a house is so stressful

    the house we rent at the mo is a 3 bed detached with 2 reception rooms it's a nice house and we only pay 625 a month rent but it needs a lot doing to it (double glazing throughout, new central heating system, hole in the ceiling lol the list goes on) we were really happy here and even landscaped the garden last year at our own cost then the owner put it up for sale the landlord is rubbish to say the least everything done in the house (we have decorated and recarpeted throughout) has been at our expense
    The landlord came a few months ago - the first time we have seen her we have lived here for 4 years and complained about the garden it wasn't to her Tate's and the decoration wasn't to her taste

    It just doesn't feel like my house anymore I just can't wait to move so if we can't buy we will be looking to rent else where after Christmas

    wow that is a good price. I would go for it
    if you do what you've always done, you'll get what you've always got

  12. #32
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    Hopefully that's the plan

    There only option left to us is if my oh makes enough to be on the mortgage with my dad (he's meeting with his account tomorrow so fingers crossed)

    The mortgage advisor says he needs to declare earnings of 5000 or over to have a chance

    My oh pays the rent (625) and council tax (160) on this house every moth but I'm not sure if he counts that in his tax return as a profit or not I've got a feeling in the past years he hasn't

    Up until this year his mum has done his accounts he's decided to get an accountant this year

    Dose that make sense

  13. #33
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    Quote Originally Posted by CLL View Post
    In fairness though a BTL mortgage is so much more expensive. We have a rental property and the APR is much more than on our residential mortgage.
    Yes that right! I had BTL and also a normal( much cheaper) mortgage, but for me and the BTL mortgage I had, the rent did cover all the expense of renting, up keep, mortgage etc. I did have to pay taxes once I sold the house but I was lucky and bought when property in my area was very low and sold when it went sky high. Can't really complain with the BTL mortgage rates and taxes, still made lots and paid not a penny towards the BLM!

 

 
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