Re: RFD: Proposed new newsgroup

Mick Whittingham <Mick@xxxxxxxxxxxxxxxxxxxxxxxxxxx> writes:

In article <m2eiz734zp.fsf@xxxxxxxxxxxxxxxxx>, Timo Geusch
<tnewsSPAMMENOT@xxxxxxxxxxxxxxxxx> writes
Ace <b.rogers@xxxxxxxxxxx> writes:

On Mon, 12 Jan 2009 18:23:54 +0000, Snowleopard
<wintersnowfox@xxxxxxxxxxxxxx> wrote:

On Sun, 11 Jan 2009 23:29:25 +0100, Ace <b.rogers@xxxxxxxxxxx> said

But if you're moving abroad what's wrong with that? buying somewhere
new, if yo uwanted to buy, would put you in no worse a position,
possibly much better, than you are at present.

Erm, what do I buy with?

A mortgage, same as you did in the UK.

Not that I'm saying that you should, but the house/mortgage issue as
an excuse is a non-starter.

That might be true for you, but it's not for me.

Go on then - explain exactly why your current mortgage is a problem.
Or if you prefer, show me which of the following sequence of events
would not work for you, cos you've got me puzzled now.

1. Sell house, pay off mortgage, put any equity in the bank.
2a. Move abroad, renting accomodation.
2b. Move abroad, find a house to buy, get a mortgage, buy house, using
banked equity as deposit.
3a. At some possible future point, move back to UK, buy house, using
banked equity as deposit.
3b. At some possible future point, sell house, bank any equity, move
back to UK, buy house, using banked equity as deposit.

I think what Snowy is trying to say is "what is this equity you speak
of?", which is not exactly an uncommon situation for those of us who
bought a place here in the UK in the last few years.



Although I would agree whole heartedly with Ace's proposal I don't
think he is aware of the state of the housing market in England.

The thought crossed my mind.

Ref 1. Any one who had purchased a house in the last two or three
years with a large mortgage or one of the 110% ones is probably in
negative equity.

Yep. And it's unlike to get better any soon.

But going with the theme of get up and go, try renting your house out
to cover all or part of your mortgage.

That's kind of my plan if/when I move somewhere else unless it's a
temporary short-term contract. Mind you, I'll have to do a little work
on the house before I can do that, but I was planning to do that anyway.

But do go for it "Failure is never quite so frightening as regret".

*ding*

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