Been renting for the last 6 months after selling and we have had enough, we want our own place but the markets are less than predictable.Have a decent deposit but looks like we will be starting another 25 yr mortgage.
Put our minds at ease as we have just had a offer accepted 
Rich
Aren't interest rates quite low, so provided the bank will take the risk I can't see a problem.
I would be more concerned as to whether you're paying a good price for the property or not. Are prices going to fall or not?
Why is it a stupid time to get a mortgage? Houses are cheap, mortgages are cheap, where's the problem?
Nope
My brother who works in finance has just got one, cracking time to get one in his opinion
Done our research in the house prices around here(Kendal) and they are still quite buoyant not planning on moving for a long time. We decide to rent thinking the house prices were going to drop but just see rents go up and up paying £950 a month @ the moment 8O.Bored when not riding a bike and need a house to fettle with!
Rich
as above, interest rates are low and house prices while maybe not at their bottom, arent too frothy any more.
Dont worry about the 25yr thing, afterall you can get a product that allows you to pay it off in whatever time you want without penalty - but get your broker to match your needs with a product.
Nope - its a good time to buy
Just go for it.
Houses are cheap,
you sure!
Back on topic. My gut feeling is house prices are going no where for a while, not up not down. If you are reasonably happy your going to keep your job, can afford the mortgage, and don't intend moving for a few years what are you going to loose?
Compare this to renting, your landlord might go bust and the house be reposed and then be looking at being evicted... AGAIN!!!!!
Hang on if you have had an offer accepted then you already have a mortgage in place right? Hence a pointless question to be asking.....
If you're not mortgaging a huge amount and are looking at staying in the property for a long time then there shouldn't be too much of a problem. If you're mortgaging a high LTV then I would be careful - if the mortgage co will lend you the money it's likely to be at a much higher rate than their headline figures. Saying that, it's hardly ever better to rent than to buy so go for it.
Tomorrow is already being tagged as Black Monday by my mates in the finance industry though, so see how the day pans out before commiting 
Hang on if you have had an offer accepted then you already have a mortgage in place right? Hence a pointless question to be asking.....
An offer of a mortgage was made by a lender for a house 2 months ago and that was for a lot more wedge! I know i should not presume
Got a broker coming around tomorrow so will see what he has to offer!
slight hijack - looking to move soon, will hopefully be able to pay off the mortgage within 6 or 7 years, but will I get a better interest rate on a 10, 15 or 25 year mortgage?
Postie,
What have you bought?
We would like to move to Kendal area and are looking. It seems to be it's own little housing market cut off from the real world with a lot of so-so houses for silly money and not a lot of decent houses up for sale. Any that are are sillier money.
Its a great time to get into loads of debt, the world monetry system is on the verg of collapse so borrow £1m now and its only going to be worth £35.27p in about 2 years, happy days.
defo the righttime for a mortgage there as cheap as chips and the whole world is scared to put interest rates up as peeps cant afford to pay thier debts so splash esp if your paying 950 a month rent
in rochdale you could have 3 2 bed houses for that. although having a house in Windermere i know house prices only too well.. guy bought the house next door for 375 and demolished it, rebuilt in same footprint and sold for 950 new buyer then spent 100k on 'modernising it' and they arent moving in for 2 years..
depends.
it's a bad idea if you can only just afford the mortgage repayments with the Bank of England base-rate at 0.5%
interest rates will go up at some point, and this will cripple a lot of people. don't be one of them if you can help it...
It's a very good time to buy, but be careful not to fully max out your expenditure, expect interest rates to go up, they will not stay this low forever, certainly not for the lifetime of the loan.
But if you can get a loan do it, why not?
The whole world is in debt, it's a debt driven economy you're treated with absolute contempt if you're thrifty and a saver..
As long as you leave enough margin for the value of the house to drop a further ten percent, or the interest rate to triple, you'll be fine...
One other point that makes a difference is the property in the North or the South?
We just got a mortgage and 1st house.. seemed a perfect time! guess only time will tell?
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