• Same boat. My better half is really, really anxious - and feels silly for buying at the top of the market (and probably overpaying) before a period of economic uncertainty.

    I'm not quite as worried (although not exactly happy). We have a 5yr fixed that is less than we'd pay renting (assuming we can make it there long enough to eat the SDLT). We had 25% deposit, not 5%. Interest rates are still a million miles from what my parents had to pay. Also our reason for buying the house we bought was to have somewhere we'd be able to to live for life if we needed to.

    I guess the real problem comes if we loose our jobs and can't afford our mortgage, etc.

  • With our current incomes we could scrape by with interest rate up t0 ~8% but as you say, the bigger threat is maintaining your income. Its not exactly panic stations but it has been a long time since either of us have had worries like this.

  • Interest rates going up in the short term seem highly unlikely.

    In the worst case scenario you could probably cover your mortgage via AirBnB.

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