So far, I quite like this recession... So far, I quite like this recession...
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  1. #1

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    Default So far, I quite like this recession...

    My mortgage is now at a rate of 3.65%, meaning my payments are now below £200/month

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    Wait until unemployment and new taxes on the "well off" kick in.

  3. #3

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    Quote Originally Posted by d000hg View Post
    My mortgage is now at a rate of 3.65%, meaning my payments are now below £200/month
    And if it's an average house it is losing you >£2000 a month . Does that make you feel good also. Do you have any pension/investments? What about after 6 months on the bench, no prospect of work and wifey has left you. Won't be so smug then will you.

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    It's only losing £2000 a month if you're in negative equity. And even then, it's only realised when you sell it. Recessions are usually beneficial for those who manage to stay in work.
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    Me too.

    My BTL in Glasgow has increased in value by 6% in the last quarter if I'm to believe the BBC which is also mortgaged with the abbey and since the drop in interest they've passed on the rental income is almost double the mortgage.

    I'm loven the recession

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    Quote Originally Posted by NotAllThere View Post
    It's only losing £2000 a month if you're in negative equity. And even then, it's only realised when you sell it. Recessions are usually beneficial for those who manage to stay in work.
    Well said.
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    Quote Originally Posted by Turion View Post
    And if it's an average house it is losing you >£2000 a month . Does that make you feel good also. Do you have any pension/investments? What about after 6 months on the bench, no prospect of work and wifey has left you. Won't be so smug then will you.
    - It was only worth £70K when we bought it
    - No stocks or pension to worry about
    - Not on the bench
    - Prospect of work already
    - Wife not bothered about being well off

    Someone sounds a bit bitter...

  8. #8

    More time posting than coding

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    Living in a 70k house i'd suggest she has no choice


    Quote Originally Posted by d000hg View Post
    - It was only worth £70K when we bought it
    Wife not bothered about being well off

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    Lol.

    Houses are reasonably priced up north, it would have been £400k in Guildford or some dump like that.

    value of house != earnings of those who live in it... it was bought on a modest programming salary when we got married and were skint

  10. #10

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    Quote Originally Posted by NotAllThere View Post
    It's only losing £2000 a month if you're in negative equity.
    Not it isn't. YOU might only be losing money if the value sinks below what you paid (and then you sell it), but the house loses value whatever the state of your personal finances !

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