Owning your own home

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NickCJ in reply to @stevo_com

5% deposit is pretty scary though - not Northern Rock-type scary, but still scary.

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stevo_com in reply to @NickCJ

So long as you can afford the repayments and then some (for increase in interest rates or unexpected periods of unemployment), it is still preferable to renting.

I could pay the mortgage and bills (albeit just) on my salary alone.

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NickCJ in reply to @stevo_com

It's effectively renting cheaply with a leveraged option on the property at 95% strike. OK unless / until prices come down 10% and you have to relocate for job / family reasons. Then you can't rent the place out because you probably can't get consent to let (rent coverage covenants).

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