Isn't there an argument to be made for renting instead of going interest only for a few years? After all interest only for a few years means that you're not actually buying any equity in the property and you have additional costs (e.g. interest and mortgage protection life assurance) that you won't have while renting. Of course the gamble here might be on capital appreciation making it worthwhile? Just something to consider though...Would interest only be an option for you for the first few years I wonder? I'm farily sure EBS would do it on a PDH.
I wouldn't intend on moving out of it at all unless my circumstances change, ie get married or something (not likely any time soon!)..
Isn't there an argument to be made for renting instead of going interest only for a few years? After all interest only for a few years means that you're not actually buying any equity in the property and you have additional costs (e.g. interest and mortgage protection life assurance) that you won't have while renting. Of course the gamble here might be on capital appreciation making it worthwhile? Just something to consider though...
Some people seem to assume that owning a property at any cost is a no brainer. Without getting into house price speculation territory or anything like that I don't believe that this is necessarily the case. In some situations it may make more sense to buy within a more realistic budget (with others if necessary) or even to rent and wait.
Some people seem to assume that owning a property at any cost is a no brainer. Without getting into house price speculation territory or anything like that I don't believe that this is necessarily the case. In some situations it may make more sense to buy within a more realistic budget (with others if necessary) or even to rent and wait.
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