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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

So nosey, but what's it worth?

42 replies

slavetothemall · 11/09/2011 10:23

Ok I know IABU. I have been watching a thread about people's savings. What I would like to know, for those of you who are property owners, how much is yours worth? what's the average, how much equity is the norm? I doubt there is an average though...I am nosey, but also thinking about taking out another mortgage.

OP posts:
Spuddybean · 11/09/2011 11:00

100% mortgage on flat owned with ex. Bought for 134k 6 years ago and just accepted an offer for 134k after been on the market for 2 years. Mortgage now down to 120k and need to pay 5k for maintenance work so after fee's etc should walk away with about 1k each.

DP bought our house 2 and half yrs ago at peak for 135k, 20k deposit. But market values it at 110k now, so selling would leave neg equity. We rented it out for a bit but rental in the area is less than the mortgage payments and we had to subsidise £125 per month on top of the £1300 rent we were paying elsewhere.

overthehillmum · 11/09/2011 11:20

Bought our house just after the crash, it was going for 195k but we got it for 175k, mortgage is 142k and it is currently worth about 180k, We were offered a mortgage of 350k by our lenders, but that was just madness, we opted for a smaller one so we could still live a little, we live in Scotland where you do get more for your money, it was enough to buy us a four bedroom new build.

Kayano · 11/09/2011 11:36

Bought in Jan 2007 for 100k, got an 81 k mortgage on it as of now...
I'm 26 and it was on the Market for £100 last year. We took it off because on our estate people were really wanting to sell and this dropped their prices loads and we couldn't afford to at the time

Mandy2003 · 11/09/2011 11:46

The flat I bought in January was originally advertised at £240,000. I got it for £172,000. So what it's worth is anyone's guess!

CogitoErgoSometimes · 11/09/2011 11:49

Bought in 1990 for £135k and have spent years doing it up.... the place next door just sold for £595k Grin. 85% equity. I'm just bragging really.

Talker2010 · 11/09/2011 11:51

Bought in 2002 for 195 (175 mort) next door sold for 300 just before the crash some recovery and ours is currently worth about 280

candr · 11/09/2011 11:53

Bought 2 years ago, was on at £185.000 but got it for £170.000 due to credit crunch. We pay £950.00 per month mortgage but is due to go up eeek just as I have quit job to be SAHM. Home now valued at £195.000

TrillianAstra · 11/09/2011 11:56

YABU because you haven't asked an AIBU question.

There is a Property section which would fit with what you want to know very well.

Fuzzywuzzywozabear · 11/09/2011 12:08

Bought at £350,000 in 2002 - now probably worth about £500,000 (going on prices around here) we've got £40,000 left on mortgage - so I guess that makes it just over 90% equity

LadyOfTheManor · 11/09/2011 12:22

Such a vulgar thing to ask!

VelvetSnow · 11/09/2011 12:29

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hairylights · 11/09/2011 12:34

My house (3 bed, large garden) us worth about £87k current mortgage outstanding £8k. I'll be remortgaging to sertle with ex and renting it out soon, while I wait to sell it when/if the market improves.

Tyrell · 11/09/2011 12:38

DH bought the house in 1994 for approx £94K - it was valued in 2005 as £275K but since then we have spent more than £100K on extensions. I would guess it is worth about £375K-£400K. We have a mortgage for about £110K, so have approx 70-75% equity.

Bootcamp · 11/09/2011 12:49

£140k apparently, been on Market over a year.

Groovee · 11/09/2011 12:55

Bought in 2001 for £101,750 with 80K Mortgage. Now worth around £230,000

eurochick · 11/09/2011 12:57

Bought in 2008 for 465k (lovely London prices). Not sure what it is worth now, maybe 400k?

We have about 30% equity in it.

bibbitybobbityhat · 11/09/2011 12:57

About £575,000. £170,000 mortgage. Shabby 3 bed terrace but that's Lunnun for you Smile.

SayCoolNowSayWhip · 11/09/2011 13:42

I just live in a box that I got free from Asda Waitrose.

HughJarseJr · 11/09/2011 14:09

bought it in 1990 for 45000 - worth about 215000 now so not too bad

Purplegirlie · 11/09/2011 14:20

We bought our house in 2007 for £209k, mortgage is around £170k now. House is worth probably around 280k as it was underpriced when we bought it and we've done a lot to it

Andrewofgg · 11/09/2011 14:25

As the home in which DW and I have lived happily since we were married and brought up our DS to adulthood - priceless. Until we want or need to sell I am not interested.

HPonEverything · 11/09/2011 14:28

Bought in 2003 for 160k, mortgage outstanding of about 80k, house worth about 220k now I reckon but not really sure.

honeybunmum · 11/09/2011 14:29

Just about to sell actually, it's worth £620k and we have a £165k mortgage. We are moving to North Norfolk to have the same size house and be mortgage free and I can't wait Smile

forrestgump · 11/09/2011 16:06

Our house is worth what ever someone agrees to pay for it, we bought it for £180k in 2002, it was on the Market originally for £230k but was empty for a long time when we finally bought it. We have done considerable work to it.

we are mortgage free, but Nothing is selling around here at all, I guess it comes down to how badly we want to move when the time arises?

NinkyNonker · 11/09/2011 16:35

Who knows what things are worth, but ours is valued at £215k with a £125k mortgage.