Is £130k a hideously enormous mortgage?

[LeBabaDeAllie]

bit of a hike for us and i'm a bit wary???

ANY bank or building society would go for it. You should too. Sod em! :)

that's what i think.. the other thing is that my SIL has DS, so we would be their carers when they go bless em.. This would still be her home to come to,and we won't have to move to accomodate her.. not sure if this is emotional blackmail though

Hang on, what's this catch, explain it more please?

Hang on, hang on, IF you buy this you become sole carers for SIL? Is that right?

No catch, just that when they pop their clogs i will be the primary carer for their daughter.. they want to downsize now, and we want their pad, which will be big enough to fit my family and SIL when she needs to live with us. She has to have full time care...

anyone else want to spill?

depends on where you live and if you want a decent house! 130k doesnt sound a lot to me but thats home counties for you!

grr hate theese threads
it depends on your income

don't read em then ... just for you "baba, baba, baba"
Sunny inbreeding suffolk.. house we r buying is £250k

allie you ok , are you getting stressed with it all. just tell "move out, im moving in and thats that!"only joking of course

Well it sounds like a good propostion all round to me. everyone's happy, ILS, SIL, you (if you're up for the carer for life), go for it.

I'd die for an £130k mortgage ours is alot more

Thats ours exactly - was a shock to the system as the previous one was 35K

my best friend is currently on 15k and her partner is on about 22k. They have been given a mortgage of 160K I think

how the hell are they going to pay that back! I'm on more than both of them, plus dp's salary and we aren't exactly living the life of riley!

Blackduck, it is so wrong, imagine if or should I say when the interest rates go back to normal, so many innocent people are going to be burnt along with people who have commit mortgage fraud to BTL, I have no sympathy for them but it's a shame for the families who just want a roof over their heads.

Thats what I mean - its just plain wrong!

Depends on your regular income and outgoings I know northern rock will lend more or less what you like and you have plenty of equity.

well, they have decided tp "stay put" for the third time after getting our hopes up. sod em! thanks for all your help and info x

If you have an interest only mortgage then you do need a means of repaying the capital eventually

oh no, repayment is the only option

Have not read the thread............but ROFLMAO, £130 k......................oh how I wish.

Your particular situation sounds very complex, LeBabadeAllie, something that I think you would benefit from discussing with someone independent (can't quite think who though!).

as a general answer - yes, it depends on your income. We're finding 90K a hideously enormous mortgage and are looking to downsize.

We're looking at a cheaper house today.. only £7500 more than ours, want to extend if we like it would mean borrowing another 35k on top of current mortgage, which would be do-able.. could get rid of one of the cars, gas heating so much cheaper than oil, so we would only be £40 worse off each month!! Hope it's nice. Thanks again for all your comments and help loving the vipers pit

Blackduck - was that question to me? If so the answer is that they have worked out all their finances and can manage it - they have a 10k deposit so I guess that will keep the monthly payments down a bit