US equity release for UK investment
Jan 4th 2006, 3:16 pm
#61
Septicity
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Posts: 23,762
Re: US equity release for UK investment
Originally Posted by rushman
The end of the inheritance of money yes, but the beginning of the inheritance of wisdom.
Never bet on the favourite, eh? Or never do an all-ways?
Jan 4th 2006, 3:50 pm
#62
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Re: US equity release for UK investment
Originally Posted by fatbrit
Never bet on the favourite, eh? Or never do an all-ways?
Jan 4th 2006, 4:11 pm
#63
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Re: US equity release for UK investment
Originally Posted by rushman
Could buy a really nice place here for that money, would have an inside loo and hot running water too i expect.
Jan 4th 2006, 4:15 pm
#64
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Re: US equity release for UK investment
Originally Posted by fatbrit
You could have bought a pretty nice place in metropolitan Phoenix for that dosh 2 years ago. But we've just had a bubbling market. Liz was sensible to stay out of it.
Just wished we'd have come over & bought a house when we got married (5 years ago), even if it just sat there, we would have made a killing by now. Oh well, hindsight's a b*tch!
Jan 4th 2006, 4:16 pm
#65
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Re: US equity release for UK investment
Originally Posted by Elvira
Who's LIz?? 
Jan 4th 2006, 4:19 pm
#66
Septicity
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Re: US equity release for UK investment
Originally Posted by Partystar
Yeah, it was mental mental chicken oriental for quite some time. Houses were never on the market long enough for an open house, most of the time the 'For Sale' sign didn't even get put up! On the market for 2 days, then sold! Crazy!
Just wished we'd have come over & bought a house when we got married (5 years ago), even if it just sat there, we would have made a killing by now. Oh well, hindsight's a b*tch!
Just wished we'd have come over & bought a house when we got married (5 years ago), even if it just sat there, we would have made a killing by now. Oh well, hindsight's a b*tch!
Jan 4th 2006, 4:26 pm
#67
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Re: US equity release for UK investment
Originally Posted by fatbrit
Not recommending anything for anyone specifically. Horses for courses!
If you require the discipline of P&I, go for it. If you like the flexibility of interest-only, go for it. If you want to take the risk of a loan with in-built negative amortization and you fully understand what you're doing and the main reason you're doing it is not kust to buy beyond your ability, go ahead.
I was saying what my favourite mortgage was; that is my best loan for my particular circumstances.
If you require the discipline of P&I, go for it. If you like the flexibility of interest-only, go for it. If you want to take the risk of a loan with in-built negative amortization and you fully understand what you're doing and the main reason you're doing it is not kust to buy beyond your ability, go ahead.
I was saying what my favourite mortgage was; that is my best loan for my particular circumstances.
If you fully understand the issues with an I only loan and don't intend to be in the house for very long I can see an argument for them, not a good one in my opinion, but beauty is in the eye of the loan holder I suppose.
Jan 4th 2006, 4:54 pm
#68
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Re: US equity release for UK investment
Originally Posted by Partystar
Couldn't I just come & live with you?!?! It would really save me some money! Let me know!
Jan 4th 2006, 4:56 pm
#69
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Re: US equity release for UK investment
Originally Posted by rushman
Could be arranged but you would have to do certain..ermmm....favours.
Jan 4th 2006, 4:58 pm
#70
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Re: US equity release for UK investment
Originally Posted by Partystar
Why of course Master, but only if you're a good boy!
Jan 4th 2006, 5:00 pm
#71
Septicity
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Posts: 23,762
Re: US equity release for UK investment
Originally Posted by nun
Didn't mean to irritate you, I just carn't like an interest only loan and I believe that most people do get them to buy beyond their means and that with house prices stagnating they are a very risky investment. I see their flexibility as a major drawback as most people don't have the discipline to make P payments,
If you fully understand the issues with an I only loan and don't intend to be in the house for very long I can see an argument for them, not a good one in my opinion, but beauty is in the eye of the loan holder I suppose.
If you fully understand the issues with an I only loan and don't intend to be in the house for very long I can see an argument for them, not a good one in my opinion, but beauty is in the eye of the loan holder I suppose.
For example, if Partystar had taken an interest-only loan 5 years ago (as she wish she had) on a 4-bedroom property in metropolitan Phoenix, she would have probably made 150k or so by now, enough to buy a new property outright say she were to relocate to Kansas. If she had played safe and had a 15 or 30 amortized, she might have had enough extra equity at closing to buy a widescreen plasma TV as well for the new house in Kansas, but she might also have starved for the last 5 years to make the payments. Was it worth paying the principal, too? Probably not.
Don't agree that a short-term loan is a necessary pre-requisite for interest only, either. For example, here in Phoenix rental prices have remained pretty static over a period when property prices have risen rapidly. If I were, for example, anxious to get into the rental market since I predict rising rents will now follow, I might be tempted to take a long-term interest-only loan solely so I could finance the purchase from the income right from the beginning and not use my capital. Later, when rents surely rise, I could, among other options, choose to pay off the principal with the increased income.
Jan 4th 2006, 5:04 pm
#72
Septicity
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Posts: 23,762
Re: US equity release for UK investment
Originally Posted by rushman
Do you really, honestly think there's the slightest chance of me being a good boy?
This should stop you...
Jan 4th 2006, 5:07 pm
#73
Powder Maggot
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Re: US equity release for UK investment
Originally Posted by fatbrit
This should stop you...
Jan 4th 2006, 5:07 pm
#74
Septicity
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Re: US equity release for UK investment
Originally Posted by AdobePinon
Seller financed?
Jan 4th 2006, 5:12 pm
#75
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Posts: 22,220
Re: US equity release for UK investment
Originally Posted by fatbrit
This should stop you...
I just noticed the little hole that the poop comes out of.....now why am i thinking of cake decorating?
