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  • My rent is £13,200 per year, eight years of renting and that is over one hundred thousand pounds that I would have given to a landlord.

    Ouch. Mines not even half of that.

  • When I was in Oz, I was in the same position. I decided I didn't like my job enough to be locked into it to pay a 25 year mortgage. I moved here and spent my deposit on booze. FTW :)

    ha ha repped!

  • If I'm renewing my mortgage or remortgaging or whatever the hell it's called when they say "minimum deposit of 35% is required". What is this calculated from? The total value of the property or the amount I want to borrow given that I've paid some of the principle off or what?

  • Value of the house, less the value that the bank paid, is your deposit.

    Less the amount you've paid off as well I would think.

    Or so I understand it.

    We need to agree a new deal in August/September, so that's when I need the work to be finished.

    Having paid 190, I am hoping to get it revalued at ~230, thus increasing the deposit side by 40K.

    This should push us over the threshold, and get us a better rate when as the loan to value ratio will have changed in our favour.

  • Loan to value.

    edit. what Neil said.

  • Dredge. What with London property being so reasonably priced at the moment I thought now can only be a good time to buy, anyone else doing the same? Looking for a mortgage is fun isn’t it?

  • 'Owning your own home' thread is probably more useful for you. It's more active with mortgage chatter.

  • You reckon? All those smug cunts chat about is new flooring and boiler replacements

  • There's 2,104 mentions of 'mortgage' in that thread compared to 27 here so, yeah.

    Smug cunts = people with 30 years of debt? Maybe. Depends how you view things.

  • Fair point

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Posted by Avatar for Timmy2wheels @Timmy2wheels