But interest rates used to be 15%, and a flat screen TV costs less than £200, youngsters don’t know how good they’ve got it.
Lol. What a silly article.
They’ve arrived at the figure but working out the deposit retirement to keep mortgage payments flat before the rate rises began.
I mean, the whole entire point of the rate rises is to cool the economy, not work out how much money you’d need to ignore them entirely.
A new low in stupid takes on the UK housing ‘market’.
Yes it’s a ridiculous situation, massively regressive and fundamentally a bad way to organise things but this wilfully ignorant take does nothing to clear things up.
What a stupid title that completely doesn’t reflect the body of article.
You will need £102 000 deposit to keep your mortgage payments the same at 6% interest rate as £30 000 deposit did a year ago at 0.5% this doesn’t mean you won’t buy a house with £30 000 deposit or even £15 000 deposit.
There are still towns in say Yorkshire or Lincolnshire where £102 000 would buy a house outright. My house is only work £175 000, 102k would be 60%+ deposit
All these articles are nonsense. Well all the headlines are nonsense and occasionally half way down the article the real situation is made clear.
Just like the one the other day where the woman had 50k saved and “couldn’t get a mortgage because of the interest rates”.
No, it’s because she was trying to get a 200k mortgage on a single salary which was vaguely described as a “well paid job”.
Half way down the article she was quoted as “my salary isn’t enough to get a mortgage of £200k”
OK so nothing to do with interest rates at all then?
Landlords : stop buying things that you can’t afford. Stop running to the banks and begging for money. Look after your money better and live within your means.
I’d much rather have low house prices and high interest rates like the 80’s and 90’s had it than high house prices and low interest rates like the 10’s had it.
Much easier to repay the capital when it’s only £45k than when it’s £250k
I’ve just put down a 10% deposit and got 4.59%, that was about 6 weeks ago. Expires 29th Feb so I sure as hell hope when they grant me an extension they let me keep that rate…
8 comments
But interest rates used to be 15%, and a flat screen TV costs less than £200, youngsters don’t know how good they’ve got it.
Lol. What a silly article.
They’ve arrived at the figure but working out the deposit retirement to keep mortgage payments flat before the rate rises began.
I mean, the whole entire point of the rate rises is to cool the economy, not work out how much money you’d need to ignore them entirely.
A new low in stupid takes on the UK housing ‘market’.
Yes it’s a ridiculous situation, massively regressive and fundamentally a bad way to organise things but this wilfully ignorant take does nothing to clear things up.
What a stupid title that completely doesn’t reflect the body of article.
You will need £102 000 deposit to keep your mortgage payments the same at 6% interest rate as £30 000 deposit did a year ago at 0.5% this doesn’t mean you won’t buy a house with £30 000 deposit or even £15 000 deposit.
There are still towns in say Yorkshire or Lincolnshire where £102 000 would buy a house outright. My house is only work £175 000, 102k would be 60%+ deposit
All these articles are nonsense. Well all the headlines are nonsense and occasionally half way down the article the real situation is made clear.
Just like the one the other day where the woman had 50k saved and “couldn’t get a mortgage because of the interest rates”.
No, it’s because she was trying to get a 200k mortgage on a single salary which was vaguely described as a “well paid job”.
Half way down the article she was quoted as “my salary isn’t enough to get a mortgage of £200k”
OK so nothing to do with interest rates at all then?
Landlords : stop buying things that you can’t afford. Stop running to the banks and begging for money. Look after your money better and live within your means.
I’d much rather have low house prices and high interest rates like the 80’s and 90’s had it than high house prices and low interest rates like the 10’s had it.
Much easier to repay the capital when it’s only £45k than when it’s £250k
I’ve just put down a 10% deposit and got 4.59%, that was about 6 weeks ago. Expires 29th Feb so I sure as hell hope when they grant me an extension they let me keep that rate…