- FAQ
- Login
- Register
- Call Workpermit.com for a paid service +44 (0)344-991-9222
ESC
Welcome to immigrationboards.com!
Moderators: Casa, Amber, archigabe, batleykhan, ca.funke, ChetanOjha, EUsmileWEallsmile, JAJ, John, Obie, push, geriatrix, vinny, CR001, zimba, meself2, Administrator
HiInUkOnHsmp wrote:Hi Forum,
I have recently obtained an extension to my HSMP, and can now work in the UK till 2013.
I think now is the time to take some important decisions. The biggest one being whether I want to keep renting a house, or want to take the plunge and buy a house of my own.
I am sure other members of this forum may have sometime or the other been in the same dilemma. Can I please request members to share their views and experiences?
Also any tips on home buying in the UK would be welcome.
Looking forward to your inputs.
Regards
Exactly, people have short memories - I can distinctly remember two house price crashes, on one of which I lost a fortune!haha wrote:This is an interesting topic in this forum. I never thought "buying property" could be "immigration related". Hee hee...
I am not a financial adviser either however we have to think: are we sure the property will go up in the foreseeable future? Say you pay around £10k per year for renting a flat, how ever if you bought a house and if the house price went down by 5% within a year ... How much the loss is then?
I can share my own experience here. I am not a financial advisor either but I have had a mortgage for the last 5 years. I came to UK on work permit in June 2004 and by december 2004 I already had a mortagage and a house. I have held a stable job with one employer since then and was lucky to get ILR in MAy this year. If I had rented a house all that long, I would be paying more or less the same as my monthly repayments. TWO points - With a mortgage, you can vary repayments anytime you get into financial difficulties but with rent, the landlord could easily evict you if you are not keeping up with payments. So for me the last 5 years have been a savings through mortgage and if i sell my house today i will recoup that saving. The only downside of everything is that I will be made redundant in January 2010! Dont know what to do with the mortgage after that?InUkOnHsmp wrote:Hi Forum,
I have recently obtained an extension to my HSMP, and can now work in the UK till 2013.
I think now is the time to take some important decisions. The biggest one being whether I want to keep renting a house, or want to take the plunge and buy a house of my own.
I am sure other members of this forum may have sometime or the other been in the same dilemma. Can I please request members to share their views and experiences?
Also any tips on home buying in the UK would be welcome.
Looking forward to your inputs.
Regards
It will happen again as soon as there are enough idiots voting for Labour again!Wanderer wrote:Exactly, people have short memories - I can distinctly remember two house price crashes, on one of which I lost a fortune!haha wrote:This is an interesting topic in this forum. I never thought "buying property" could be "immigration related". Hee hee...
I am not a financial adviser either however we have to think: are we sure the property will go up in the foreseeable future? Say you pay around £10k per year for renting a flat, how ever if you bought a house and if the house price went down by 5% within a year ... How much the loss is then?
Will it happen again? I dunno but I suspect it will when all the economic migrants leave, ie Poles as they are doing now, and Asian possibly too as their own countries quality of life improves, I'm sure many will elect to return especially as it gets grimmer here. What then? Then we have a surfeit of housing like in Berlin now where you can buy a very nice flat for 30k Euro...
Why are u worried about what to do with the mortagage? If you sell the house now won't you get the profit? or the price of your house went down?munisa wrote:So for me the last 5 years have been a savings through mortgage and if i sell my house today i will recoup that saving. The only downside of everything is that I will be made redundant in January 2010! Dont know what to do with the mortgage after that?
I think the issue is paying it with no job and the prospect of repossession..lboro wrote:Why are u worried about what to do with the mortagage? If you sell the house now won't you get the profit? or the price of your house went down?munisa wrote:So for me the last 5 years have been a savings through mortgage and if i sell my house today i will recoup that saving. The only downside of everything is that I will be made redundant in January 2010! Dont know what to do with the mortgage after that?
Mortgage also comes with added costs of compulsory building and life insurance which arent there if you rent. Plus all repair costs are down to you with a mortgage but would be land lord's responsibility if renting.Wanderer wrote:I think the issue is paying it with no job and the prospect of repossession..lboro wrote:Why are u worried about what to do with the mortagage? If you sell the house now won't you get the profit? or the price of your house went down?munisa wrote:So for me the last 5 years have been a savings through mortgage and if i sell my house today i will recoup that saving. The only downside of everything is that I will be made redundant in January 2010! Dont know what to do with the mortgage after that?
I prefer to rent, and the rent I'm paying is about half what a mortgage would be, always has been for me and I've moved around with work a lot (hence prefer to rent).
meats wrote:It will happen again as soon as there are enough idiots voting for Labour again!Wanderer wrote:Exactly, people have short memories - I can distinctly remember two house price crashes, on one of which I lost a fortune!haha wrote:This is an interesting topic in this forum. I never thought "buying property" could be "immigration related". Hee hee...
I am not a financial adviser either however we have to think: are we sure the property will go up in the foreseeable future? Say you pay around £10k per year for renting a flat, how ever if you bought a house and if the house price went down by 5% within a year ... How much the loss is then?
Will it happen again? I dunno but I suspect it will when all the economic migrants leave, ie Poles as they are doing now, and Asian possibly too as their own countries quality of life improves, I'm sure many will elect to return especially as it gets grimmer here. What then? Then we have a surfeit of housing like in Berlin now where you can buy a very nice flat for 30k Euro...
meats wrote:It will happen again as soon as there are enough idiots voting for Labour again!Wanderer wrote:Exactly, people have short memories - I can distinctly remember two house price crashes, on one of which I lost a fortune!haha wrote:This is an interesting topic in this forum. I never thought "buying property" could be "immigration related". Hee hee...
I am not a financial adviser either however we have to think: are we sure the property will go up in the foreseeable future? Say you pay around £10k per year for renting a flat, how ever if you bought a house and if the house price went down by 5% within a year ... How much the loss is then?
Will it happen again? I dunno but I suspect it will when all the economic migrants leave, ie Poles as they are doing now, and Asian possibly too as their own countries quality of life improves, I'm sure many will elect to return especially as it gets grimmer here. What then? Then we have a surfeit of housing like in Berlin now where you can buy a very nice flat for 30k Euro...
Now that really did make me laugh, you are seriously claiming that Labour understand the middle class?!?!?! LOLcamcan wrote:meats wrote:It will happen again as soon as there are enough idiots voting for Labour again!Wanderer wrote:Exactly, people have short memories - I can distinctly remember two house price crashes, on one of which I lost a fortune!haha wrote:This is an interesting topic in this forum. I never thought "buying property" could be "immigration related". Hee hee...
I am not a financial adviser either however we have to think: are we sure the property will go up in the foreseeable future? Say you pay around £10k per year for renting a flat, how ever if you bought a house and if the house price went down by 5% within a year ... How much the loss is then?
Will it happen again? I dunno but I suspect it will when all the economic migrants leave, ie Poles as they are doing now, and Asian possibly too as their own countries quality of life improves, I'm sure many will elect to return especially as it gets grimmer here. What then? Then we have a surfeit of housing like in Berlin now where you can buy a very nice flat for 30k Euro...
People should vote for labour as they are the most fair i beleive for migrants and who understand middle class you might be a snob voting for Torries
It seems that you care a lot on the economy, such as the house price. The recent recession is a global disaster. It would happen no matter which party is in charge. A good party can shorten receession period and make the economy recover quicker. Compare to the history, don't you think the recovering speed is quicker than ever?meats wrote:Depends on what you find important.haha wrote:I never vote before as I wasn't interested in it - never ever! However this discussion is interesting. What makes a good party?
Er no, far from it. The UK is the only major economy that is still in recession and that is due to the incompetence of the current government. The same thing happened last time people were stupid enough to vote Labour too, recession. The Thatcher government inherited a mess from Labour and had to rebuild the economy, by the time Bliar took over the Tories had made the UK economy strong again and yet again Labour have ruined the economy. This will happen every time a socialist party is in power as they have no idea about how to run an economy.haha wrote:It seems that you care a lot on the economy, such as the house price. The recent recession is a global disaster. It would happen no matter which party is in charge. A good party can shorten regression period and make the economy recover quicker. Compare to the history, don't you think the recovering speed is quicker than ever?meats wrote:Depends on what you find important.haha wrote:I never vote before as I wasn't interested in it - never ever! However this discussion is interesting. What makes a good party?
U don't remember the three-day week, power cuts and school milk then!meats wrote:Er no, far from it. The UK is the only major economy that is still in recession and that is due to the incompetence of the current government. The same thing happened last time people were stupid enough to vote Labour too, recession. The Thatcher government inherited a mess from Labour and had to rebuild the economy, by the time Bliar took over the Tories had made the UK economy strong again and yet again Labour have ruined the economy. This will happen every time a socialist party is in power as they have no idea about how to run an economy.haha wrote:It seems that you care a lot on the economy, such as the house price. The recent recession is a global disaster. It would happen no matter which party is in charge. A good party can shorten regression period and make the economy recover quicker. Compare to the history, don't you think the recovering speed is quicker than ever?meats wrote:Depends on what you find important.haha wrote:I never vote before as I wasn't interested in it - never ever! However this discussion is interesting. What makes a good party?
Before my time, another mess that the Tories had to sort out. Just like the Winter of Discontent where Callaghan blamed the press for the strikes, job chaos etc. I'd quite like to hear Brown's excuse for the lost generation that we currently have thanks to his policies.Wanderer wrote:U don't remember the three-day week, power cuts and school milk then!meats wrote:Er no, far from it. The UK is the only major economy that is still in recession and that is due to the incompetence of the current government. The same thing happened last time people were stupid enough to vote Labour too, recession. The Thatcher government inherited a mess from Labour and had to rebuild the economy, by the time Bliar took over the Tories had made the UK economy strong again and yet again Labour have ruined the economy. This will happen every time a socialist party is in power as they have no idea about how to run an economy.haha wrote:It seems that you care a lot on the economy, such as the house price. The recent recession is a global disaster. It would happen no matter which party is in charge. A good party can shorten regression period and make the economy recover quicker. Compare to the history, don't you think the recovering speed is quicker than ever?meats wrote:
Depends on what you find important.
I disagree completely about Labour, they have yet again ruined a strong economy with their abysmal fiscal policy. They are determined to the ruin the City and that is the biggest wealth generator that the UK has. The clown Brown is now talking about taxing the bankers even more to pay for climate change... http://www.timesonline.co.uk/tol/news/e ... 953222.eceWanderer wrote:Well I'm not a Labourite or anythingite, in fact I've never voted but I have to say things are much better now than at anytime I can remember. Schools are wonderful now compared to the shithole I was educated in, same with hospitals. Of course we have rampant immigration and illegals, but wasn't it the Tories who kicked that off - removing exit controls....
This daft notion that you house has to be worth more and more is Thatcher's crime, selling off council houses forcing your home to be an investment.
Off course, labour sent us into two heinous wars which is shameful.
But overall I'd say Labour has done a decent job, much better than any government I can remeber going back to the early seventies. Gordon Brown is a miserable Scotsman but pound-for-pound he's the best Chancellor we've ever had - he's a bright lad. He's PM now but he pulls Darlings strings.
What eleven years under Labour now and things have gone a downhill but so has the Global economy, the 10 years under the Conservative in the 80's/90's where miserable for us Northerners....