The buying a house thread

[TomPich]

I guess the only cool way of buying to let is when you have a friend/relative living there.

Sigh, guess I'll wait a couple of years until I can afford somewhere in town.

Just out of interest how would a Pro Player get a mortgage? As I doubt the bank would give u one if ur a Pro Gambler?

Although I spose most of em would be able to buy outright, no?

Just interested to know

Thanks.

[Raiser]

omg...just seen a house we both like!

rightmove link? spread the excitment! lol

[PokerWoody]

rightmove link? spread the excitment! lol

well nothing is happening yet. we haven't made an offer or anything, just that it's very exciting.

it has 2 bedrooms, 2 reception rooms, a nice kitchen a nice bathroom and a lovely garden. Plus the loft is pretty much a room already and can be easily extended to a third bedroom (2 doors down did the same thing fairly recently).

There really isn't anything on the market round where I want to buy.

[cayton]

well nothing is happening yet. we haven't made an offer or anything, just that it's very exciting.

it has 2 bedrooms, 2 reception rooms, a nice kitchen a nice bathroom and a lovely garden. Plus the loft is pretty much a room already and can be easily extended to a third bedroom (2 doors down did the same thing fairly recently).

There really isn't anything on the market round where I want to buy.

link woody were exited; links

[a1056688]

another thing to consider with mortgages is over payments. while the rate is so low i am paying extra each month (over and above mortgage payments) so the next month my mortgage owed is reduced.

I'm in a similar boat to you. My tracker rate is rock bottom (less than 1&#37 so my repayments are 60% of what they were 12 months ago with no early repayment charges and unlimited overpayments.

Are you actually better off making overpayments whilst the rate is low?

I've always thought about it but believed I'd be better off saving the money and making overpayments when the rates go up again. Never engaged my brain enough to think it through properly so can someone confirm what is best? Make overpayments when rate is low (i.e. when you are paying low anount of interest) or save and make a large overpayment or series of overpayments when rates rise again (i.e when you are paying more interest)?

[cayton]

I'm in a similar boat to you. My tracker rate is rock bottom (less than 1&#37 so my repayments are 60% of what they were 12 months ago with no early repayment charges and unlimited overpayments.

Are you actually better off making overpayments whilst the rate is low?

I've always thought about it but believed I'd be better off saving the money and making overpayments when the rates go up again. Never engaged my brain enough to think it through properly so can someone confirm what is best? Make overpayments when rate is low (i.e. when you are paying low anount of interest) or save and make a large overpayment or series of overpayments when rates rise again (i.e when you are paying more interest)?

if you have the will power to not touch the savings then with your scinario yes save it in a higher interest account then pay off when rates raise. its virtually impossible to work out the savings you would make as there are to many unknowns. in my case the tracker is acr 1.25% above base. so by the time ive messed about its not worth the hassle.
My brother got a rate of 0.02% above base rate for life of mortgage,,(jammy git) and he is saving in a isa account to do as you discribed. Time will tell if he does. cos he likes his new cars.
Another tip whilst were on the money front. People who have credit cards tend to go for one's with no interest for x amount of month's.
A better way to go (if you can afford to pay off the full amount each month) cards like the halifax 1 give cash back. so use you card for everything petrol, food shopping, ect and at the end of the month pay off the full amount. This then generates cash back
(between 1-5% depending on the card) so spend a grand a month you get £10 - £50 poker money . Also the halifax 1 if its the same as when i took mine out. give you 10 month interest free + cash back.. all the way to the bank

[PokerWoody]

link woody were exited; links

I don't want to jinx it!

[cayton]

I don't want to jinx it!

Cmon mate were here to help.. Not a cardboard box is it? + we get to know where you live for future freeby mail

[PokerWoody]

Cmon mate were here to help.. Not a cardboard box is it? + we get to know where you live for future freeby mail

I know and I really do appreciate it.

Here's a pic of the outside....



Looks boring standard doesn't it!! Well, it looks like every house around here anyway.

[cayton]

Looks sound to me. Only thing you need to do is turn it from a house into a home. Then kids. Then grey cardi. great find