truman Posted September 25, 2013 Share Posted September 25, 2013 It won't too long before the country is divided into the haves and have-nots, similar to the situation before the war. Those who do and those who don't have property ownership. Maybe it will be the start of a new class. I'm confused as to what you mean with the post I've quoted.As you've seen on this thread it's a choice people make.. just 'cos someone rents it doesn't mean they are poor in the same way that buying a house doesn't mean they're rich... Link to comment Share on other sites More sharing options...
Cyclone Posted September 25, 2013 Share Posted September 25, 2013 When they loose their job and have no saving. 'Free' so long as it's really pretty cheap in the first place. Not free if it's above the HB limit, which most private rents are. ---------- Post added 25-09-2013 at 15:52 ---------- It's different strokes for different folks ,or at least it should be. Agreed, I don't think there's a single 'right' answer as to what everyone should do. Link to comment Share on other sites More sharing options...
poppet2 Posted September 25, 2013 Author Share Posted September 25, 2013 I'm confused as to what you mean with the post I've quoted.As you've seen on this thread it's a choice people make.. just 'cos someone rents it doesn't mean they are poor in the same way that buying a house doesn't mean they're rich... Buying property for many people is not a choice if they can't afford a deposit or get a mortgage these days. It is not like in the 80s when banks were giving away 110% mortgages without even checking your annual income. Link to comment Share on other sites More sharing options...
Cyclone Posted September 26, 2013 Share Posted September 26, 2013 I think you mean the early naughties. In the 80's I doubt you could get anything more than 95% or possibly even 90%. And the old standard of 3 or 3.5 times income still applied, no self cert (liars) mortgages then. Link to comment Share on other sites More sharing options...
truman Posted September 26, 2013 Share Posted September 26, 2013 I think you mean the early naughties. In the 80's I doubt you could get anything more than 95% or possibly even 90%. And the old standard of 3 or 3.5 times income still applied, no self cert (liars) mortgages then. We bought our first house in 1980.we had to find a 10% deposit and have saved with the building society for a year before they'd even look at us.... Link to comment Share on other sites More sharing options...
alchresearch Posted September 26, 2013 Share Posted September 26, 2013 It won't too long before the country is divided into the haves and have-nots, similar to the situation before the war. Those who do and those who don't have property ownership. Maybe it will be the start of a new class. But will it? I had a mortgage years ago and am now happy renting. I can easily afford a deposit and mortgage on a decent semi but don't want the hassle of a house. I can't be alone in such reasoning? Link to comment Share on other sites More sharing options...
truman Posted September 26, 2013 Share Posted September 26, 2013 But will it? I had a mortgage years ago and am now happy renting. I can easily afford a deposit and mortgage on a decent semi but don't want the hassle of a house. I can't be alone in such reasoning? Exactly my point in #72 Link to comment Share on other sites More sharing options...
Danny_Boy Posted September 26, 2013 Share Posted September 26, 2013 But will it? I had a mortgage years ago and am now happy renting. I can easily afford a deposit and mortgage on a decent semi but don't want the hassle of a house. I can't be alone in such reasoning? you're not alone, I will probably one day buy again, but me and my girlfriend wanted to rent for a year before committing to buy to make sure we could live with each other before being tied to a mortgage. I am sure there are other people out there who do similar and some people just don't want to buy for whatever reason. I will buy eventually because I think there's a lot to be said about reaching say 50/55 and paying your mortgage off so living technically rent free. Link to comment Share on other sites More sharing options...
poppet2 Posted September 28, 2013 Author Share Posted September 28, 2013 I would rather enjoy my life now and spend a bit. There's more to life than owning your own home. ---------- Post added 24-09-2013 at 19:49 ---------- Just hope dementia don't kick in. Unless you have family willing to care for you. £600 a month (at least) care bill will soon put a big dent in your assets. You might be better off buying a small caring home rather than foot the weekly bill of £600 pw. Link to comment Share on other sites More sharing options...
alchresearch Posted October 10, 2013 Share Posted October 10, 2013 There's an interesting utility on the Beeb's website in light of the new government scheme to get people on the housing ladder: Where can I afford to live? http://www.bbc.co.uk/news/business-23234033 I've tried it and it says I can't afford to live anywhere unless I stump up £10,000 for a deposit. Yet I know this isn't true. Link to comment Share on other sites More sharing options...
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