Residential Mooring advice needed!

[Southern Star]

 

Now that house prices are rising again, that might make more sense than renting for another five or six years. Assuming your mortgage was no more expensive than your rent, you'd be able to keep saving at the same rate but you'd also be likely to make a profit when you sold the house.

 

 

IMO, they are only rising due to unsustainable manipulation, HTB, artificially low interest rates etc, to try to create some feel-good factor ahead of the 2015 General Election. When interest rates start rising, this will be more down to what the Federal Reserve decides than anything else and they won't give two hoots about British mortgagors, then the slump in property values will resume.

 

Anyway, I'm surprised to read that residential moorings are hard to obtain, I see plenty advertised in WW and on the internet?

[magictime]

Assuming your mortgage was no more expensive than your rent, you'd be able to keep saving at the same rate but you'd also be likely to make a profit when you sold the house.

 

 

Correction - if you went down this route, you'd almost certainly be better off overpaying on your mortgage rather than saving. Otherwise you'd effectively be borrowing money at 5%-ish to save it at 3%-ish, which would be silly.

 

(If I'm going to play at amateur financial adviser I should at least correct my own mistakes...)

[muddywaters]

Sorry to tell you this.....

 

but....

 

You'll probably go looking at boats.

 

and you'll walk the towpaths talking to boaters.

 

and you'll probably take the plunge before Dec 2014.

 

 

that's how it works.

The bug doesnt wait 6 yrs.

 

That's my plan