None of these advisors seem to think that borrowing 5x your salary is anything other than completely advisable so long as they get on the property ladder.
There is no mention whatsoever of what happens after you've purchased, ie. how much outgoings you will have after the mortgage payments.
*It is not necessary to understand things in order to argue about them. -- Pierre De Beaumarchais
Yes ,very interesting thanks. One point though, I thought everyone had to pay council tax regardless of whether your flat is rented or lease/freehold, yet look at the copy/paste below - Whilst Im on, if youre buying leasehold, does the service charge quoted usually include the insurance and standard repairs to common areas ---or what?
Jeremy Leaf: The choice to buy depends on your lifestyle......
Many first time purchasers do not adequately take into account the expenses involved when buying a property, such as stamp duty and legal fees as well as those involved in owning a property such as maintenance, service charges and council tax.
Originally posted by Cypriana: Yes ,very interesting thanks. One point though, I thought everyone had to pay council tax regardless of whether your flat is rented or lease/freehold, yet look at the copy/paste below - Whilst Im on, if youre buying leasehold, does the service charge quoted usually include the insurance and standard repairs to common areas ---or what?
Jeremy Leaf: The choice to buy depends on your lifestyle......
Many first time purchasers do not adequately take into account the expenses involved when buying a property, such as stamp duty and legal fees as well as those involved in owning a property such as maintenance, service charges and council tax.
That is a bit odd, almost as odd as people thinking that people only rent flats that are furnished.
