British Bulldog
The great escape
- Feb 6, 2006
- 10,967
The best financial advice I was ever given was "Liquidise your assets" and i've been doing it ever since! 
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Buying a Flat?
- Thread starter Bert365
- Start date
Cheeky Monkey
Well-known member
- Jul 17, 2003
- 23,646
Wages haven't tripled along with house prices over the last ten years so something's got to give. Can understand how couples can still afford to buy but if you're looking to buy on your own....
Cheeky Monkey said:
People never have been able to buy on their own. Back in the 60's prices were on average 6K for a house around Brighton and the average wage was £20 a week. Up north house were 3K which is why my ex and I moved up north when we married.
It was the same then, that you had to have two incomes to afford it.
SK1NT
Well-known member
I bought on my own and i have below ave wage. My saviour was i manged to save up 10% of the total value of the property so my wages didn't matter. For an ave 150K loan, your mortgage will be about £650 a month (start with interest only)
I know people who've been waiting for this predicted property crash to happen since 1999. And now they are very very sorry.
So my advice is Buy and Buy soon. Even if prices do fall, they will back where they started in no time at all as there will be a mass rush for whatever property is out there from all those who have been waiting for a crash.... which will mean prices will of course shoot back up.
So my advice is Buy and Buy soon. Even if prices do fall, they will back where they started in no time at all as there will be a mass rush for whatever property is out there from all those who have been waiting for a crash.... which will mean prices will of course shoot back up.
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eastlondonseagull
Well-known member
Yorkie said:
But when it did crash, it bloody crashed big time!
My brother bought a flat in the eighties for 60K, sold it during the crash for 32K. Took him years to pay off the negative equity, in fact, I think he's only recently managed it.
Fingers crossed it won't happen again.
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SK1NT
Well-known member
my dad did the same, got a 2 bed house for 40k went to sell it suring the crash and it had halved in value. He kept it and still has it to this day (rents it) and its worth 200keastlondonseagull said:
