Friday, 14 March 2008

Mortgage

Oh, this is an old boring topic but I have to tell what my view on mortgage these days. As you all know we are desperate to move house but due to this sudden hit of high mortgage rates and the price of the house are shooting up so high as well, that certainly pushed people away to rather rent. Imagine, our flat is on the market for almost 7 months now and we still don't get any offer at all, if there is it would be a lower offer than our asking price. Current market is not great and not giving us a favour or chance to sell this place. If anything like, we will just get a buy to let mortgage instead and rent somewhere bigger for couple of years before we actually buy our own 4 bedrom house in the location where we want to be.

Hubby is so frustrated and could not wait to move. My in-laws are selling their house as well and pondering to go for a Commercial Mortgages. I have just read the current news about how the buy to let remain strong up to these days. So, I guess we have the right alternative choice if we don't get an offer anytime soon - we will just get a buy to let morgtage. This is the only that we can move as we that desperate for a space. We can just add our mortgage later if we are going to buy our own house in couple years time. We wish for a great deal mortgage rates and market price will shoot down a bit in 2 yrs time. We just have to wait and see but for now we really are in need to move to a bigger, bigger house.

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