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What do you think? Borrow more debt or not?

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    What do you think? Borrow more debt or not?

    'We've got £80,000 in student debt. Can we borrow £100,000 for our first home?' - Telegraph

    Like many former students, Aaron Sharpe and his fiancée, Rachel Smith, have a lot of debt to pay off. But they’re also trying to organise a wedding – and Mr Sharpe is about to get a new job that will leave him £10,000 a year worse off.

    The couple are wondering how best to prepare for buying their first home together, and are wary of jumping into the housing market with a large mortgage they might not be able to afford.

    Together they owe almost £80,000 in student debt. Their wedding, which will take place next month, has cost them at least £6,000, and they have yet to pay for the honeymoon, a trip to Dublin.

    The couple have saved £1,400 into a Halifax Help to Buy Isa, which pays 4pc, and have £2,000 in a NatWest instant access savings account that pays 0.4pc. They pay £200 into the Isa every month. Mr Sharpe said they should be able to put away £600 every month after the wedding.

    I wonder how many iCrap products they have and how much they spend on Sky TV and other such tulipe?

    #2
    If it's good enough for our Government, then it's good enough for the people.


    Live for today, not for tomorrow is my motto.
    What happens in General, stays in General.
    You know what they say about assumptions!

    Comment


      #3
      Originally posted by MarillionFan View Post
      If it's good enough for our Government, then it's good enough for the people.


      Live for today, not for tomorrow is my motto.
      And you followed this motto by giving £140K a year to the pension fund with almost no chance of seeing it at the other end....some might think you talk utter bollox.

      Comment


        #4
        They can ignore the 80K student debt, sounds a lot but on their salaries it'll just get written off....
        I'm alright Jack

        Comment


          #5
          Originally posted by DimPrawn View Post
          'We've got £80,000 in student debt. Can we borrow £100,000 for our first home?' - Telegraph




          I wonder how many iCrap products they have and how much they spend on Sky TV and other such tulipe?
          Hang on

          Apart from student loans the couple, who currently have combined earnings of around £46,000, have no debt.
          No debt and £3.5k in savings, they are better off than MF, why the negativity?
          Originally posted by Stevie Wonder Boy
          I can't see any way to do it can you please advise?

          I want my account deleted and all of my information removed, I want to invoke my right to be forgotten.

          Comment


            #6
            Originally posted by DimPrawn View Post
            ....some might think you talk utter bollox.
            Originally posted by Stevie Wonder Boy
            I can't see any way to do it can you please advise?

            I want my account deleted and all of my information removed, I want to invoke my right to be forgotten.

            Comment


              #7
              Had to pay 6000 for wedding, had to pay for trip to dublin , had to spend 30k for new bmw . omg we have no money.
              I dont get it, they teach us stupid geography but don't teach us managing our finances...

              Comment


                #8
                They need to do things properly. Get themselves a £600K mortgage on a starter bedsit.

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                  #9
                  Originally posted by diseasex View Post
                  Had to pay 6000 for wedding, had to pay for trip to dublin , had to spend 30k for new bmw . omg we have no money.
                  I dont get it, they teach us stupid geography but don't teach us managing our finances...
                  pls help2buy govt???? thxxxxxxxxxx xoxoxox
                  Unless you're the lead dog, the scenery never changes.

                  Currently 10+ contracts available in your area

                  Comment


                    #10
                    Why do they want to buy at all? What's wrong with renting exactly?

                    Comment

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