I've seen this house I want

[ChimpMaster]

It's in a good area with great local schools but it's up for £1.6m, which is several hundred thousand £ above my max budget. I would need to sell my house and then raise at least another £600k, and then take on a sizeable mortgage.

Life has various stages, in all of which I have done reasonably well. But financially speaking I have hit a wall and I just don't see how I can take the next leap upwards. I'm in a house that, to all intents and purposes, is OK for our needs but I'm not happy with the local schools for our kids, and frankly I'm a little bored and want a change.

It seems to have been fairly easy to reach this point in my life, but the next step means talking in many hundreds of thousands or £1m+ and that just seems to be an impossible task. You can't get there working for someone else or contracting even at decent rates.

Perhaps I should just be happy with my lot.

P.S. dunno why I'm telling you lot, just had to get it off my chest I guess.

[d000hg]

The only houses in the catchment of the school you want cost >£1m? Or you only like schools where all the properties are worth >£1m?

Is this a joke thread?

[Troll]

frankly I'm a little bored and want a change.

Get a mistress or a Toyota GT86

HTH

[Lockhouse]

It's in a good area with great local schools but it's up for £1.6m, which is several hundred thousand £ above my max budget. I would need to sell my house and then raise at least another £600k, and then take on a sizeable mortgage.

Life has various stages, in all of which I have done reasonably well. But financially speaking I have hit a wall and I just don't see how I can take the next leap upwards. I'm in a house that, to all intents and purposes, is OK for our needs but I'm not happy with the local schools for our kids, and frankly I'm a little bored and want a change.

It seems to have been fairly easy to reach this point in my life, but the next step means talking in many hundreds of thousands or £1m+ and that just seems to be an impossible task. You can't get there working for someone else or contracting even at decent rates.

Perhaps I should just be happy with my lot.

P.S. dunno why I'm telling you lot, just had to get it off my chest I guess.

I've seen this house I want, it's George Clooney's villa on Lake Como. I'm €10 million short and it's really depressing me......

Sheesh get a grip.

[doodab]

The only houses in the catchment of the school you want cost >£1m? Or you only like schools where all the properties are worth >£1m?

Is this a joke thread?

I suspect it's serious. I have much the same problem. There are no reasonably sized family homes in my area for less than 700 grand.

[ChimpMaster]

I've seen this house I want, it's George Clooney's villa on Lake Como. I'm €10 million short and it's really depressing me......

Sheesh get a grip.

Yes but let's get real. Firstly I'm not thinking about just myself: I want to move to get the kids into the best schools possible. And as a family man I need to have a home capable of supporting that family plus my parents if they so choose to, because I am willing for them to live with me in their old age.

Family houses in decent areas with the best schools don't come cheap. Sure yes I could buy a smaller house than the one I live in, but that wouldn't suit us and I would see it as a step backwards.

In any case the real cruz of my rambling was that it's easy enough to get to a certain level in your life, but the next step is a huge leap. And that's where I'm stuck right now.

[Lockhouse]

In any case the real cruz of my rambling was that it's easy enough to get to a certain level in your life, but the next step is a huge leap. And that's where I'm stuck right now.

As a one-man-band you can only get so far; you run up against a glass ceiling and that's what happens to most of us. We make a good living but not a great one. In order to make that leap to the next level you have to do change the model.

[Basil Fawlty]

It's in a good area with great local schools but it's up for £1.6m, which is several hundred thousand £ above my max budget. I would need to sell my house and then raise at least another £600k, and then take on a sizeable mortgage.

Life has various stages, in all of which I have done reasonably well. But financially speaking I have hit a wall and I just don't see how I can take the next leap upwards. I'm in a house that, to all intents and purposes, is OK for our needs but I'm not happy with the local schools for our kids, and frankly I'm a little bored and want a change.

It seems to have been fairly easy to reach this point in my life, but the next step means talking in many hundreds of thousands or £1m+ and that just seems to be an impossible task. You can't get there working for someone else or contracting even at decent rates.

Perhaps I should just be happy with my lot.

P.S. dunno why I'm telling you lot, just had to get it off my chest I guess.

How much is a big mortgage these days anyway ?? Recently spoke to a financial advisor who told me based upon my current rates we could borrow around 450 - 500k. Luckily for us we can get everything we'd want for 500k, but the thought of a mortgage of around £400k scares the bejesus out of me.

[DimPrawn]

Everyone is loading up on cheap debt again?

It's like the credit bubble never happened.

Boomed!

[Basil Fawlty]

Everyone is loading up on cheap debt again?

It's like the credit bubble never happened.

Boomed!

Exactly my point !

What is normal and what would be loading up cheap credit ? Is it an LTV things or is it hard cash - is 75% LTV ok if you're house is 150k, but not if it's worth 500K ?