Mortgage or Rent?

[greendayrock]

we used to rent a 3 bed house privatley for 550 a month till the landlord sold the house, as of tomorrow (when we get the keys) we will be paying 312 a month from housing association on a 3 bed brand new house.

 

[sarah113]

We are in a 2 bed house at the moment and our rent is £353 a month

what???? are u serious???? or is that after HB have paid their share???

i want to pay cheap rent

we dont get HB, thats including some arrears aswell, rent is normally £65 a week

 

[rob_bangor]

As Sam says above we Mortgage our home a 2 bed terrace. if we wanted to rent it it would cost around £550 - £600, we pay..er...a lot less than that.

We have always had a mortgae and used family as garantours (sp), I would recommend this as the mortgage if the bank give you a rubbish quote because payments arent high and most people can afford a lot more than the mortgage company think they can, so then you can get a higher mortgage amount to get a bigger house! Our terms and conditions stated only 30% was liable through the guarantours which was amazing. The guarantor mortgage was only valid as long as we were in uni, so we havent got it anymore, but I think they can be used without this clause.

Finally a little story of a quote I got from one bank, I phoned this bank up and was honest to them. We we're told that we could be given a mortgae of 18,000...thats right 18k...I think they must've miss heard something...I laughed and hung up! (funnily enough it was the same bank as our mortgage is with anyway!)

 

[Xena]

We have a 3 bedroomed detatched worth £290k and we have a £60k mortgage on it over 35 years which is working out at about £450 a month inc. mortgage protection cover.

 

[Redshoes]

mummykay
We're in a 1bed flat and paying rent for it really p!sses me off seeing as its way too small anyway we don't get help with rent or council tax, and with only OH working we can't get anything decent to be able to get a mortgage I'd say go for it if you get the opportunity, maybe borrow from OH's parents? You could always ask very best wishes

 

[kellie80]

We rent a 3 bedroom house for £75 a week. I would love to buy one though, I hate living here

 

[Tillytots]

I rent a 2 bed house for £580 a month. Id love to buy but Id never get a mortgage and even with OH wages as well they'd only give us aroubd £80k which wouldnt even buy us a garage around here. Hopefully house prices will keep dropping then we'll be able to

 

[leckershell]

We rent a 2 bed house for £525 and just recently have been looking at getting a mortgage. We can get upto £175k but we wouldn't want that much. We're still undecided as to when we're going to get a house - we've spent the past 2 weeks viewing houses but probably won't get any of them unless they accept a mental offer.

 

[Becky&Willow]

we rent off the council and pay £80 a week we live on the 5th floor of a tower block and i know most people will think this is quite pikyish but i love my flat it is not on an estate or in a rough area and we have 2 massive bedrooms and big kitchen and living room, i love my flat the only thing i wish was that we had a garden for willow we do have a very big balcony with plenty of outdoor playing space but a garden would be better.

 

[cassi]

I rent a 2 bedroom flat for £775 pm

 

[Snuggle]

We have a mortgage of £141,000 and pay £970 a month We had problems getting a mortgage though as we are both in RAF which is a bad thing for some reason

 

[kirlykird]

we pay £1350 per month for our house which was helped by an £85,000 profit on my last house

Oxford is so expensive though, if A didn't have to commute into London, I would probably have moves somewhere cheaper. Although, saying that it is a lovely place to live

 

[elaine22]

We rent a fully furnished 2 bed flat for £550 pm. We're happy to rent for the next few years as neither of us want to settle down in one place just yet, plus I want to go to uni in a couple of years so can't commit to anything yet.

 

[Lola's Mummy]

We have a mortgage for 80k but we only bought our house in May prices are still quite cheap in Hull though.

Before we bought we was living with parents.

Our house is a 3 bed terrace and we have had to re-plaster all the walls. We have only finished the living room, dining room, our bedroom, Lola's room and the hall way.

It still needs a new kitchen and bathroom and the 3rd bedroom is really small so we are chaning it into a shower room after christmas

 

[Emma58]

We have a mortgage, I rented for a while a couple of years ago and it was £400 a month for a 2 bed.
What we pay now in mortgage would be the same as renting a 3 bed house.

 

[purple13]

we've got a mortgage on our 1 bed flat...

we're gonna have to move next year when trog arrives though, but we're hoping that we can do a buy-to-let mortgage on our flat and use the equity that we've gained (due to stupid London house prices) to buy a proper house.

we've got to chat to our mortgage provider about it all though, cos i'm not sure how much of a 2nd mortgage we'll be allowed with me being on maternity leave...

 

[Gem & Leland]

we rent too , and i hate it when peeps say its dead money , they've never lived in london ! we cant afford to buy the pokey 2 bed flat we live in ( 1 db 1 sg) , its worth 250k , we rent it unfurnished for 800 pcm .

1. we couldnt get a mortgage for 250k even if we wanted too

2. i wouldnt never spend 250k on a flat ! when i want to live back in ipswich and get a 3 or 4 bed for 160k !

3. im presuming a mortgage for 250k plus insurances etc u need would be more then my 800 a month ! plus anything goes wrong , inc washing machine etc its get replaced !



i wish we could own but never in a million years in london !

 

[kirlykird]

G3m, I know what you mean! Anders used to live in Putney before we moved to Oxford and it was £1100 pcm for a one bedroom studio flat to rent. We would have loved to have stayed in SW London but it was too expensive to get a 4 bedded house like the one we have in Oxford. Yes £450k is expensive for a house but it's cheaper than London!!

Whereabouts are you in Middlesex? Anders works in West Drayton and commuted daily from here, tink its about 40 miles so not too far

 

[Mum_2besoon]

Got a mortgage for 135k and pay 616 per month it's a 2 bed flat but will eventually want to sell and buy a 3 bed house.

I say it's better to rent, too much bills when you own your own property.

 

[paradysso]

our 3 bedroom semi is worth 190k and we have a mortgage of 100k which we pay £630 a month on a condition i buy life insurance but thats only £6 a month

Ive never rented, to rent my house would be about 700 a month and we find it too small as it is.

My first 1 bedroom flat i brought 7 years ago was 32k and only 120 a month i hate the way house prices have risen recently but i was lucky as i sold for 72k