Mazda MX-3 V6

[Captain Jack]

That would get my goat too (but then most things do).

What were the reasons? Maybe she was worried about the cost?

[Bailes1992]

The main bathroom which we wouldn't use because we have the en-suite is inset and has no exterior walls so it has no window. I've looked up in the loft and it would be a fairly straight forward job to fit a skylight though. But apparently this warrants not buying the house.

[Welly]

That's a shame, it has to be right for both of you and it's not easy I know. Perhaps the cost came into it moreover and the Bathroom thing was the escape route.

I chose our current house and did all the running to get it, my missus didn't like the location but I kept pressing for it. We bought the place and then she then began to appreciate how quiet the location was and enjoyed the peace - which is why I chose the location

[Bailes1992]

Our current mortgage is over 20 years and the new one would be 35 years so actually when you take everything into account it's was an extra £400/month at most. We've been putting £600/month away for the last 12 months. Cost was never an issue.

[Welly]

But on that basis you'd only be able to save £200/mth, doesn't leave a lot of scope for other things? to be fair it does sound quite a leap up in commitment. Maybe you'l find something cheaper but much better in other ways; like having a massive driveway and big garage for working on motah's....

[Captain Jack]

£400 extra a month is quite a lot to eat into your savings + extra 15 years to your sentence.

That said, it looks like you'd be getting a lot more of the house. The idea with "property ladders" is that you start in a crappy-ish property and move your way up as you gain equity paying off the mortgage along with property price rises. And different properties gain different values depending on what they are (flats seem to rise much more quickly than larger houses).

[grasmere59]

It's all o.k. as long as the interest rates don't rise.I remember back when they sky rocketed to 14 or so %,i was so glad i hadn't stretched myself with the mortgage then. Just .5% rise on a big mortgage can make a hell of a difference to you finances and it wouldn't take much too eat up that £200 spare each month.

[Welly]

It's all o.k. as long as the interest rates don't rise.I remember back when they sky rocketed to 14 or so %,i was so glad i hadn't stretched myself with the mortgage then. Just .5% rise on a big mortgage can make a hell of a difference to you finances and it wouldn't take much too eat up that £200 spare each month.

Excellent post, the interest rates won't stay this low for ever.

Says the man with a LIFETIME base rate +0.25% fixed deal

[Doggy]

.....Says the man with a LIFETIME base rate +0.25% fixed deal

Thought I was doing well with base rate +2%.
Still, just under 3 years to go.

[Welly]

I've just increased my payments voluntarily by £70.00/month and brought the remaining term down from 11 years to 7

[Captain Jack]

I still have errr.... 34 years left. Or is it 29? Can't remember..

[grasmere59]

I should have paid mine off years ago but with 2 failed relationships and 2 subsequent "buy outs"/"pay offs" i still have approx 7 years to go

[steve_earwig]

What is this morguidge of which you speak?

[grasmere59]

It is a loan devised by the devil himself.

[rwb]

19.5 years left.
About £325 of the monthly payment is interest.

Need a lottery win of £1.36m to retire today.