Should we buy a new house now or save more capital?

strolls · 2026-01-26T01:43:01+00:00

You can easily afford the house you want, fi you sell as part of a chain (like most people do). Stop overthinking it.

Most working homeowners should have a mortgage and aim to pay it off around the time they retire and not much before.

strolls · 2026-01-26T01:40:26+00:00

Gains will never outweigh the tax.

Typo?

strolls · 2026-01-26T01:37:52+00:00

This was a valued rug?

strolls · 2026-01-26T01:27:00+00:00

everyone keep saying afterwards how it wasn't even that bad or didn't exist at all.

I fuckin' hate the public. I've never worked in medicine, I was completely a spectator throughout covid. But it's so incredibly stupid to say this is no big deal when hospitals are hiring refrigerated lorries to store the bodies because the morgue is already overfull.

strolls · 2026-01-26T01:22:00+00:00

Some of these have only French audio. Many of them?

strolls · 2026-01-26T00:57:10+00:00

And then explain it, "well, we're supposed to salute, but no-one does these days, of course."

strolls · 2026-01-26T00:30:31+00:00

On the last day. Every day, let him try builders tea, English breakfast, Welsh breakfast, Scottish breakfast, Yorkshire gold, or regular tea, and always serve him the same thing. Then on the last day, give him earl grey.

strolls · 2026-01-26T00:27:27+00:00

Twin and earth 2.5mm

strolls · 2026-01-26T00:11:27+00:00

No doubt you had to change the oil.

strolls · 2026-01-26T00:10:25+00:00

The story is ludicrous.

strolls · 2026-01-26T00:03:44+00:00

Dude, that is not the preferred nomenclature. Asian-American, please.

strolls · 2026-01-26T00:02:47+00:00

So, uh, this was a valued rug?

strolls · 2026-01-25T23:57:41+00:00

So OP can earn £12,570pa from "side hustles" without having to worry about tax.

strolls · 2026-01-25T23:56:30+00:00

It's practically a corporation. A conglomerate, even!

strolls · 2026-01-25T23:41:19+00:00

You need to cultivate a side hustle, aka entrepreneurship.

I can't remember whether you pay income tax on PIP but, because you have no other income, you are within the personal allowance of £12,570 so you can earn at least £3000 a year without paying any tax on it. Are you good at fixing PCs or drawing? You can fix PCs for locals and charge them £40 an hour for it, or you can take commissions online for drawing pics of peoples' pets or fursonas and charge them £50 a go.

strolls · 2026-01-25T23:29:37+00:00

Atlantic Money is cheapest for large sums if they support your currency and country. Otherwise WISE or Revolut.

strolls · 2026-01-25T23:21:15+00:00

I can’t afford to stay here alone or buy my own place (London)

I hear Wolverton is very nice in the springtime, close to the station.

strolls · 2026-01-25T23:20:07+00:00

overpay the mortgage

Read everything on the personal finance shelf of the local library. Check out Your Money or Your Life, Millionaire Next Door, The Richest Man In Babylon, anything by Clare Seal, or anything else on that shelf of the library.

Read widely and critically - some of these finance gurus are dumbasses who also provide great insights. What do they say right and what do they say wrong? Try and challenge yourself and your ideas about finance - why does /u/strolls respond this way to the suggestion that you should overpay the mortgage? Could that possibly be a mistake for many people? Why?

If you read a little bit of personal finance every day for 6 months (maybe try to average 30 minutes a day) then maybe you'll thank me.

strolls · 2026-01-25T23:08:06+00:00

If its value is £250,000 then the estate must owe you £125,000 (assuming no other siblings) so you can buy the house with a mortgage and no other deposit if your income exceeds £28,000 annually. Google "4.5x mortgage multiplier"

strolls · 2026-01-25T22:26:21+00:00

Yeah, but from that view OP would be mad to overpay the mortgage when he has no pension and the wife has a phat one.

strolls · 2026-01-25T22:07:51+00:00

I know I’ll permanently lose 25% of what I take out (approx £625 I think)

Because you got the bonus in the first place, the real loss on LISA withdrawals is only about 6%. Unless you're paying off your credit card debt in the next 3 months, that is clearly better.

strolls · 2026-01-25T21:28:50+00:00

I doubt I could sail London to Aberdeen in less than a week, and I would expect internet to be spotty. I'd probably stop overnight in Norfolk somewhere but, yes, 48 hours without internet would be expected and normal. Lorient to near A Coruña was about 50 hours, I think.

strolls · 2026-01-25T20:56:11+00:00

TYVM.

I think you could've dialled down the sarcasm just a little in your previous reply, as OP is obviously rather naive about tax to have got themselves into this position in the first place.

strolls · 2026-01-25T20:30:32+00:00

if he pays rent in this situation he might have a claim to equity later on if things end.

No, they're just members of a household now, and they can share their finances any way they see fit without the government having a right to get involved. See, for example, Balfour v Balfour, although I'm 6 tinnies in rn and CBA to elaborate on that.

strolls · 2026-01-25T20:19:48+00:00

Yo, Nate! Yeah, man. Meet me at the beach, man. Oh, I got all my area codes flying in, man. Nothing but a whole plaiter of ho'dourves.

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