-
It makes no difference cos you live there. It's all fantasy money, you have a roof over your head and every payment means you own a few more bricks and tiles. It's not worth worrying about paper profits, it changes nothing till you move.
spindrift-
Yes but fantasy money (LTV) is good to get the monthly payment down/reduce what you owe right?
-
The size of that payment you make depends on the price of your house (LTV) and what's going on in the economy (interest rates + inflation for your own affordability).
-
I don't care about not getting paper profits; I just don't want negative equity.
As Dammit says - would be annoying losing £200k, especially as I wouldn't have had it in the first place.
I think the ideal outcome (for almost everyone) would be static house prices and wage inflation. No-one gets made bankrupt, but the affordability eases over time, and the next rung up the ladder doesn't keep getting further away. I can dream...
amey
christianSpaceman
andyfallsoff
All this LTV and prediction of crash talk is scaring the shit out of me.
Bought in 2015, right at peak peak but before we knew there would be a referendum (let alone the disaster outcome)