Mortgage

[Dell Boy]

Vaulted.

The Deficit still exists and is large enough that debt is still growing faster than GDP and while that is true then eventually there will eventually come a day where it is no longer sustainable. Our economy is dependent upon the expansion of credit, ie debt growth, and with such a structure of production there will never come a day when we can balance the books without actually destroying the sector that creates all the growth. Your 270k flats in Liverpool - that's your economy right there. That's where 40 years of monetary doctoring has got us.

Who says there has to be a day when the books are balanced? Why can the country not simply exist with debt? Of course it needs to be manageable but your argument smacks of naivety. Who is all of a sudden going to call the whole debt in? In who's interest would that be? I am not saying it's ideal or indeed good but a pragmatic route will always play out.

Look at Greece for example. The country is f*cked and in the grand scheme of things it is pretty insignificant compared to the rest of the EU economy. We've had years of the Greek crisis but the banks/the EU will keep rolling over the debt as politically they don't want to turn off the life support machine. If Greece has got away with it in the midst of these last few years - why on earth would a country like the UK have anything to worry about.

As an aside - £270k for a top-end 2 bed city centre flat is nothing compared to the rest of the UK.

 

[Dell Boy]

LOL, they haven't even stopped printing money yet, never mind started to raise rates. It will just never happen. They've boxed themselves in and there is no way out that won't collapse the economy anyway.

To quote Milton Friedman: Nothing is so permanent as a temporary government program.

So you're saying that the base rate will never rise? I believe it will start to rise in a steady manner to a point in 3-5 years where it will sit at approx. 3%.

 

[Moomin]

The whole monetary system is fcuked really. We need to create more money, ok lets create more debt.

More money = more debt

 

[john conolly]

It's a lot of money mate. Buy something more affordable and have an easier life. Trust a man who knows mate. A tiny amount of people are getting rich off the rest of us. They want you to default and if they can make enough by repossessing the property they will take your home. If not, they will leave you in it until the time suits them. Buy cheaper and go good holidays and enjoy life. Good luck pal.

 

[GrandOldTeam]

Can anyone recommend a independent mortgage advisor?

 

[Reidy's Bottle Of Grecian]

Can anyone recommend a independent mortgage advisor?

think there are some 'financial' advisors on here arent there ?

I take it they do Mortgages as well dont they ?


it's 'an' btw, you're SUPPOSED to be educated ffs.

 

[GrandOldTeam]

think there are some 'financial' advisors on here arent there ?

I take it they do Mortgages as well dont they ?


it's 'an' btw, you're SUPPOSED to be educated ffs.

I've hit a new low. Corrected by Reidy FFS.

Colloquialism exists on a football forum.

 

[Pienaar's gloves]

For the OP, I've lived in town, I've paid extortionate rent. Not worth it. The novelty wore after two weeks and I moved into a suburb two days after my lease expired. Little sense of community there too.

 

[COYBL25]

For that money you could buy a decent house in a good area with gardens and everything.

Imo, you would be daft to stump up that kind of cash for a flat in town.


....but, each to their own like. Personally I'd prefer a 3 or 4 bedroom house in Crosby, short walk to the beach etc, for that kind of money.



*have a look on sights like zoopla, rightmove etc and see what your cash can get you elsewhere. Bet the apartment is quickly forgotten about.

I knew a lad who rented a house by the Marina. Sounded great to start with, single lad close to Town and everything.
After a year he'd had enough and moved out to a terrace off Sefton Park. He had to get in the car to go and get a pint of milk as there was no shops by the Marina and it wasnt sensible to use the all night garage on Sefton Street after dark. In the Winter he never saw anyone and it was freezing cold with the wind that came off the river . In the end it just did his head in and he said he needed to be near people for his own sanity. You'll also be paying a whacking non negotiable service charge for stuff that's never done. It sounds great on paper, but as Tommye says you'd be better off renting a decent house in civilisation rather than being that far into the City Centre. It sounds great on paper, but I think the practical realities would be a bit different once you were there .