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Did you pay in cash? What about the interest repayments? have you factored in the £10k of interest you pay the bank for the right to borrow all that money and thats with historically low rates.
8b-
Still cheaper than paying rent...
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We’ve paid ~70% cash, yes. I realise that’s fairly atypical for a first time buyer but I’ve been saving for a long time and unfortunately inherited recently. Our rate is therefore fixed for the next few years at a pretty good level and I could cover the mortgage at 10% interest if it came to it.
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All costs, but rent in London is way out of whack compared to mortgages. I bought my place when I realised buying a two bed was cheaper than renting a one bed.
chrisbmx116
LukeG
aggi
Of course. I've also ignored the stamp duty in that calculation as i'm keeping things rose-tinted.
It's where we want to live and as we don't even have the keys yet, selling it looks to be a long way into the future.