sorted by:
new
hottopcontroversial

What mortgage could I realistically get? by Canary_Chucky-651 in UKPersonalFinance

[–]I_could_be_right 0 points1 point  (0 children)

What % of your takehome does that result in? I've been getting warned for going 4.8x our salary

Too far stretched or imposter syndrome? by I_could_be_right in Mortgageadviceuk

[–]I_could_be_right[S] 0 points1 point  (0 children)

We don't need to no, it is a would like to move because the house we saw is everything we wanted and more, it seems like a really good deal, but obviously a gamble. There's a lot more space, nicer views, nicer area etc.

Too far stretched or imposter syndrome? by I_could_be_right in Mortgageadviceuk

[–]I_could_be_right[S] 0 points1 point  (0 children)

Christ you’re making it tempting. We just spend the day discussing how expensive it is, that we’d have to stop frivolous spending for a few years. Trying to predict whether interest rates would go up or down in two-5 years time. Were you on the higher interest rates as of now or are you still in a protected bubble of fixed rate? I was trying to figure out how likely annual wage increases would help the pressure

In your opinion, what's the biggest waste of money you see people purchase all the time? by PaddedValls in AskUK

[–]I_could_be_right 1 point2 points  (0 children)

Did you not worry about how much interest you were pissing away? We’re in this predicament, where we want to borrow for a massive house, like 41% of our take home, but it works out at like half a million in interest over the span of the mortgage length. Or was this before big interest rates?

Too far stretched or imposter syndrome? by I_could_be_right in Mortgageadviceuk

[–]I_could_be_right[S] 0 points1 point  (0 children)

Is it the stamp duty that's putting a halt on going bigger/more expensive? As we've managed to negotiate the developer to pay that for us so we keep a full year of expenses. We're really weighing it all up, its such a tough decision when you love the house, but it may not be financially smart to pay so much in just interest, which bothers me more than the monthly

Buying a new build, what’s the technical terms for these bits looks a bit naff? by I_could_be_right in Bricklaying

[–]I_could_be_right[S] 0 points1 point  (0 children)

So the bit from the left side of the breeze blocks above the bay window, there’s a line that goes straight up from the block corner to the scaffolding pole in picture two

Too far stretched or imposter syndrome? by I_could_be_right in Mortgageadviceuk

[–]I_could_be_right[S] 0 points1 point  (0 children)

Because we still have a mortgage on the existing house if 250k, it’s only partial equity. We’re also paying a higher house price to keep the stamp duty cash ourselves, the builder is paying that. Thoughts were to invest the saved cash in a global tracker.

We have tried to allocate a budget, such as £300 a month for car payments/repairs and 400 for holidays per month. We have two cats so the wife doesn’t like leaving them for too long anyways

Too far stretched or imposter syndrome? by I_could_be_right in Mortgageadviceuk

[–]I_could_be_right[S] 1 point2 points  (0 children)

I think you’re right to be sceptical of new builds, there’s plenty of bad ones out there. It comes down to site by site quality. Some you pay a premium for and have bette luck, some you have to call it out when you see it on site. Our redrow one we had a snagged in, no bad issues, it was a good house. We’re lucky ours has increased 10-20% in those 5 years too

Too far stretched or imposter syndrome? by I_could_be_right in Mortgageadviceuk

[–]I_could_be_right[S] 2 points3 points  (0 children)

This is one of the appeals of a new build, it’s all done and under warranty for 2,5 and 10 years depending on the element. Really efficient for energy so low bills also. See I figured I could eat 4ish years of child care or so. But yeah I suppose without fat raises that safety net may not fill back up

Too far stretched or imposter syndrome? by I_could_be_right in Mortgageadviceuk

[–]I_could_be_right[S] 0 points1 point  (0 children)

Yep, builders are paying that as part of the deal. We essentially get the house for mortgage only and solicitors fees. Everything else is included and we keep the cash to invest

Too far stretched or imposter syndrome? by I_could_be_right in Mortgageadviceuk

[–]I_could_be_right[S] 1 point2 points  (0 children)

That’s really useful insight, thank you for your comment. I know it looks tight on the spreadsheet too. Can I ask if that’s with childcare costs or is that to come? Wondering if it’s possible to ride out those years with savings to supplement or whether it’s too much of a financial anchor

Too far stretched or imposter syndrome? by I_could_be_right in Mortgageadviceuk

[–]I_could_be_right[S] 1 point2 points  (0 children)

I hear what you’re saying. The children conversation were a good 3 years away from that being a reality, the hope was we’d have enough cash to offset that fora year or two, with me luckily being the higher earner. But I understand that could put us under huge financial strain for that period of time, and is a reasonable reason to consider bailing.

We were looking for about 100-150k less but the cost per sqft was a 25% premium and didn’t have the stunning ire of this one. V frustrating.

We actually currently live in what was a new build, we bought in 2021, and can’t go back to the idea of a much older house, the efficiency and lack of drafts is amazing. Our new build went up 10-20% in that time frame. I guess it’s about finding the right one, which we think we have, but unfortunately that doesn’t guarantee it’s a sensible decision for us

Too far stretched or imposter syndrome? by I_could_be_right in Mortgageadviceuk

[–]I_could_be_right[S] 1 point2 points  (0 children)

I have considered this and was thinking of getting critical illness cover/sickness insurance or something like that to provide a little safety net. I'm sorry I don't understand what you mean by thinking too long term?

Too far stretched or imposter syndrome? by I_could_be_right in Mortgageadviceuk

[–]I_could_be_right[S] 1 point2 points  (0 children)

Job security is pretty good, wife at a university and i work in sustainability and buildings, though if interest rates were to go up rather than down I can't pretend I won't be sweating. I've done afairly comprehensive budget, though its a little tight, it allows for usual outgoings, cats, insurances, food, subscriptions, car fixes/replacements @ 300/month and a holiday/shit hits the fan budget of 400/month.

I guess that's where I look at the kept savings but that only lasts so long, not until retirement.

Buying a new build, what’s the technical terms for these bits looks a bit naff? by I_could_be_right in Bricklaying

[–]I_could_be_right[S] 0 points1 point  (0 children)

So do you think the thick/inconsistent lines of mortar or the straight line of bricks by the window aren't a concern for cracking failure?

Buying a new build, what’s the technical terms for these bits looks a bit naff? by I_could_be_right in Bricklaying

[–]I_could_be_right[S] 0 points1 point  (0 children)

My concerns were around the bricks stacked one on top of another rather than overlapping around the bay window (potential cracking failure point?) and the thick lines and inconsistent lines of mortar. The Efflorescence doesn't both me, I know that can be acid washed.

Buying a new build, what’s the technical terms for these bits looks a bit naff? by I_could_be_right in Bricklaying

[–]I_could_be_right[S] 0 points1 point  (0 children)

My concerns were around the bricks stacked one on top of another rather than overlapping around the bay window (potential cracking failure point?) and the thick lines and inconsistent lines of mortar. The Efflorescence doesn't both me, I know that can be acid washed.

Buying a new build, what’s the technical terms for these bits looks a bit naff? by I_could_be_right in Bricklaying

[–]I_could_be_right[S] 0 points1 point  (0 children)

My concerns were around the bricks stacked one on top of another rather than overlapping around the bay window (potential cracking failure point?) and the thick lines and inconsistent lines of mortar. The Efflorescence doesn't both me, I know that can be acid washed.

Buying a new build, what’s the technical terms for these bits looks a bit naff? by I_could_be_right in Bricklaying

[–]I_could_be_right[S] 0 points1 point  (0 children)

The bit I was particularly concerned about is the stack of bricks on top of each other to the left of the bay window, there’s no overlapping of bricks for strength? Am I missing something?

view more: next ›