A UKRM retreat

Rent. That's where you give your money away, isn't it?

 

Ben says...

Can't take a house with you when you die.

Besides, you try buying a house where we live for anything near what we
pay in rent. This is civilisation matey, not Birmingham.

 

Ben says...

Worcester sucks. I lived in/around the area for years, it's worse
than Brum.

 

Is that Ben, or a place in general?

 

Lord Frag says...

I have one of those in Malta. A nice retirement home I think.

 

Lozzo barfed:

No but one can give you a damn good pension when you stop work.

Makes you wonder why people rent them out if they can make more selling
them.

 

Is that for a whole house?

There's still a risk that I'll end up in your neck of the woods shortly
and, frankly, house prices are looking somewhat scary.

 

Colorado Springs

Huge fun, v. interesting, well-paid /for China/ (but doesn't translate
well into sterling to meet commitments at home), and different.

 

No, but you can live of the capital when you retire.

Well, you must be able to because your landlord certainly won't be
paying more for their mortgage than you pay in rent. The rental value
of my house is about double my mortgage.

 

Actually, I'm really looking at Great Malvern/Ledbury area rather than
Worcester. Mainly because the mountain biking is better in the
Malvern Hills and it's even cheaper.

 

I can't think of anywhere I've ever lived where a mortgage cost more
than the equivalent rent.

To rent a house the same size as the one I pay a mortgage on, would
cost about 50% more per month.

 

Coo! That's very close to me. Ledbury is a really nice little market
town, but not much going on. Malvern, strangely, seems to have quite
a thriving music scene. Either way, as you say, there's good mountain
biking, as well as great motorcycling roads right on your front door -
I used to live halfway between Gloucester and Ledbury and it was
superb.
--
Please add "imo" to above post.
Champ
GSX-R 1000, GPz 750 turbo, ZX7RR Endurance Racer x 2
GYASB#0 BotToS#2 BOTAFO(T|F)#35 WG*#1 DFV#8
Team UKRM Racing : www.team-ukrm.com

 

I did look at Gloucester as well, but for what I want (3 bed semi or
detached less than 10 years old) it was a bit out of my budget.

Malvern looks the best bet as there are a load of new houses going up
on an ex-Army base and will be nicely in my budget by the end of the
year.

 

Why are you moving out of Brum? Have I missed a change of job or
something?
--
Please add "imo" to above post.
Champ
GSX-R 1000, GPz 750 turbo, ZX7RR Endurance Racer x 2
GYASB#0 BotToS#2 BOTAFO(T|F)#35 WG*#1 DFV#8
Team UKRM Racing : www.team-ukrm.com

 

Depends on type of flat/house, area etc. as well as the size of
the mortgage (duh!).

I remortgaged my place last year at 80% of it's value in order
to buy a second, almost identical place to let with only a 40%
mortgage.

The mortgage for my place now is more than the rent I would get
for it (and do get for the second property, IYSWIM).
However the mortgage on the second place is well less than half
of what I get for the rent.

 

Mebbe. The house that I've just moved out of, which I could easily
afford to rent, was way out of my league to buy.
--
Please add "imo" to above post.
Champ
GSX-R 1000, GPz 750 turbo, ZX7RR Endurance Racer x 2
GYASB#0 BotToS#2 BOTAFO(T|F)#35 WG*#1 DFV#8
Team UKRM Racing : www.team-ukrm.com

 

Does he even realise he's a mini-moto dealer?

--
AndrewR, D.Bot (Celeritas)
Kawasaki ZX-6R J1, Fiat Coupe 20v Turbo
BOTAFOT#2,ITJWTFO#6,UKRMRM#1/13a,MCT#1,DFV#2,SKoGA#0 (and KotL)
BotToS#5,SBS#25,IbW#34, DS#5, COSOC# Suspended, KotTFSTR#
The speccy Geordie twat.

 

Maybe I'm missing the obvious, but wouldn't that have been better the
other way round?

 

I'd rent house out so that would cover home commitments. Free
accomodation, food and net access (plus a push bike) seems to be the
standard package and I've seen ones with free child accomodation and
school fees included. Very tempting.

 

A Buy-to-Let mortgage is at a higher percentage than a
normal one, so it makes sense to have the lesser amount
on it.