Owning your own home

Ouchy

I’ve got some time off next week, so have booked a couple of video call quotes to compare prices.

I’ll probably then try to convince myself I should just hire a van and do it myself.

I’ll probably then try to convince myself I should just hire a van and do it myself.

Getting a company to do all the packing and moving for us made things way, way easier. Definitely don't begrudge what I paid.

We used these but not sure if they cover south London
https://www.storkremovals.co.uk/

Not gonna lie, some of the room are awesome as it is.

Thanks, will check them out.

I’m not really serious about doing it myself. Have done it once, never again.

Overpriced but B on A prices have gone nuts. Loads of Londoners cashing in innit

I concur.

A lot of space for the money but I reckon you’d have to spend a fair bit on the garden. Inside I’d neutralise it and go all white = blank canvas

More experienced home owning peoples.

Do I go for a 2 year fixed mortgage deal at 2.09% or a 5 year at 2.19%? Obviously the initial repayments are lower with the 2 year deal, but from what I understand is that we are still near the edge of the spiralling black hole of shit that the world is going into so the 5 year may be better overall?

We had a house purchase fall through when we had a mortgage deal at the mega 1% blip last year, now I feel more pissed about losing the mortgage offer than the house.

5 year. Inflation looks mad, I'd be amazed if mortgages are cheap in 2 years time. I'll be amazed if they are cheapish in 5 tbh, so get it while you can

Unless you are going to move in the next 5 years go with the 5 year fix for sure. The fees alone mean you save money.

Don’t rely on being able to port when the time comes.

0.1% premium (or 5% more interest- compounded, obvs - than the 2.09% one) for an extra 3 years' certainty seems like a no-brainer to me, provided you're not marginal on the payments.

Put it this way - do you think interest rates are going to halve, double or stay the same?

Apply for the longest term you can get away with, that way your contracted repayments are lower (but you can always overpay to what they would have been on a shorter term if you really want to).

Yep 5 year more than likely a good bet.

Honestly if rates go to 10% or something everyone who quibbled about 1.5%, 2% or 2.5% is going to feel like a lemon.

If you don't fancy playing the future-gazing game, by all means go for a tracker and your fortunes will rise and fall with the tides of the market!

Assuming your not planning on moving I'd probably go 5 year at the moment.

If you've a chance of moving into a better LTV band then the 2 year may work out better but it is a risk at the moment.

2 more years and then the rates can go sky rocket (just after I secure my final 5 year fixed).

Boomer Mk II.

Nice, thanks folks. 5 years it is, just may have to go easy on the flat whites initially!

If they go to anywhere close to 10pc in the next 5 or so years, the majority of the country , myself included, will be totally and utterly and irreversibly fucked.

Personally, I will need to remortgage in 5 years time and have budgeted paying between 2 and 3pc at that time.

If they go to anywhere close to 10pc in the next 5 or so years, the majority of the country , myself included, will be totally and utterly and irreversibly fucked

People would have said roughly the same about the average energy bill going north of £2k yet that has happened with only token policy response.

At some point the politial pendulum will swing back to the red team and the perpetual pumping of the housing market will cease? There was an interesting article in the NS the other day suggesting that public opinion is turning against rising prices, even amongst homeowners.

https://www.newstatesman.com/business/2022/04/britain-has-fallen-out-of-love-with-its-housing-market

A majority of Conservative voters would be happy if their home didn’t
rise in value if it meant others could buy, and would support the Bank
of England being given a target to keep house price inflation low and
stable

The current pumping of the housing market can’t continue much longer at the rate it’s been going on the last 4/5 years and more so in the last 18 months.

People are gonna get burnt and it’s a tough pill to swallow but might be a lesson.

You still have a mortgage? How delightfully quaint!

Not a Boomer. 100% Gen X.

People are gonna get burnt and it’s a tough pill to swallow but might be a lesson

I'm not sure what the lesson is - be born 30 years earlier? You can't opt out of the housing market unless you emigrate (and you can't go anywhere good these days - thanks Brexit). Either you get shafted by a landlord or you leverage yourself up to the tits & buy.

Not a Boomer. 100% Gen X.

That's my point. Gen X (myself included) are the next Boomers (e.g. Boomer Mk II). We've had it so much easier than anyone after us.

the majority of the country , myself included, will be totally and utterly and irreversibly fucked

Yes

Haha, I sort of knew it mean't the Bath'shire Bradford, but still, have distant childhood memories (briefly lived in Wookie hole) of visiting Bradford on Avon and going in the river and/or canal, was bright green, and I got hella sick, few days in hospital kind of sick. So yeah, not the best memories. Remember traffic being insane even in early 90's when compared to the rural areas was used to, though probably tilted view due to being sick as hell and trying to get to the hospital on a hot summers day in a micra with no AC.

Plenty of this energy knocking about

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