The other day at work, someone came in for a bit of vehicle livery doing on their van. We have good prices and we do some really great work on liveries, so you can see why that’s nothing special. Anyway, it was a friend of Paddy‘s and they got talking, and we got talking, and eventually the whole conversation got around to the topic of mortgages.
Well he was saying how he paid something like £400 for a while on an interest-only mortgage. As you might imagine, that’s quite a good price here. Even on an average wage of say £15K/yr (we’re in an agricultural area, not exactly London wages here) that’s good. I pay about the same in rent. Yes, I know, I need to buy a house.
Then he said that he had switched to another kind of mortgage, a repayment mortgage I think, and he’s now paying over £700 a month! Bloody hell, I nearly choked! Unbelievable!
I’ve taken a look at the properties listed in the real estate agents in town and some of them are just downright crazy. So much for a downturn in property prices, let me tell you, it’s nonsense. Small farmsteads and houses out in the sticks going for half a million, Lincolnshire must be -the- place to live these days!
I’m going to seriously take a look at buying my own place though, I’ll have to get a whole load of mortgage quotes, it’s going to be a nightmare.
Tags: mortgage, mortgage quotes
