If you would be so kind STW oracle, I'd be interested in your thoughts on my dilemna.
After years of saving, me and my partner can now get a mortgage at x2.75 of £180000. We've got a 10% of that for a deposit, plus a bit more for fees and furniture. No debts and a good credit record.
There are some mortgages avaialable, but with that deposit, best interest rate is 6%.
Things look more affordable now that they have been for a few years, but apparenly they're on the way back up.
So, dilemna is, move now, get mortgaged up to the eyeballs (£1000 a month) before things move out of reach again? Or, trust my hunch that there is still more to play out in this housing crash, keep saving and wait till lending conitions improve?