Mortgages and Interest Rate Rises

[TWGL1]

Interest rates historically have always hovered around 5% havent they? Seem to remember much higher in the mid 80’s like 15%?
Best feeling ever to get mortgage free……

I’ve managed to pay off two mortgages, it’s hard though and takes commitment but worth it.

For those struggling, perhaps they could consider a cheaper area or location ?

[OurManFlint II]

I’ve managed to pay off two mortgages, it’s hard though and takes commitment but worth it.

For those struggling, perhaps they could consider a cheaper area or location ?

Or pull up their boot straps! Why aren't working family's rich, lazy ****ers!

[TWGL1]

Or pull up their boot straps! Why aren't working family's rich, lazy ****ers!

Huh, it was just a suggestion, and I know a few who have done it , or downsized and it’s the best thing they have done.

Each to their own though of course , and I’d be very careful to judge somebody’s background on a messageboard post if that’s what you’re implying..

[goats]

I’ve managed to pay off two mortgages, it’s hard though and takes commitment but worth it.

For those struggling, perhaps they could consider a cheaper area or location ?

I guess it’s much harder these days. I bought a house in Heath for 52k in 1998, think I was earning about 23/25k then, one of the lowest in the IT office I worked in. Had a 10 yr mortgage but paid it off a bit earlier….house twice salary.

[North Cardiff Blue]

If you doubled the payments of a 25 year mortgage in the 90's you were able to repay it in 7 years, mad but even then not many people could afford to double the mortgage payments.

[Pedro de la Rosa]

I’ve managed to pay off two mortgages, it’s hard though and takes commitment but worth it.

For those struggling, perhaps they could consider a cheaper area or location ?

In the last year alone, house prices have risen by 14% while earnings have FALLEN by 1%.

It is incredibly hard to get onto the housing ladder. The average house price in the UK is 294k. The average salary is around £26k. It has got insane but it's OK, because young people just need to work harder

[HiVis]

In the last year alone, house prices have risen by 14% while earnings have FALLEN by 1%.

It is incredibly hard to get onto the housing ladder. The average house price in the UK is 294k. The average salary is around £26k. It has got insane but it's OK, because young people just need to work harder

the average salary is more than £26k.

But yes, your point is valid. There is a disconnect between average house prices and average earnings.