I'm concerned about the value of my house
I have a large interest-only mortgage. we went that route to have spare cash to do it up which would have worked in principle. We've put in all new windows and external doors, decorated the living room including an open fire and done up the bathroom beautifully.

I'm still concerned however that the price of my house will have dropped leaving me with even less equity than I had before.

On the bright side, if I'd stayed in my flat I would've been stuck with a one bed flat I couldn't sell, either dead or guilty of murdering my girlfriend.

I think getting out of the flat just in time with a profit of £22k in two years was the right move. We may be poor, but at least we've got a shitload of room to be poor in.

I'm happy to spend my time huddled round the fire, or round the large piano I can comfortably fit in my kitchen :-)
( Vipros. clever got me this far, then tricky got me in, Thu 22 Jan 2009, 13:21, 6 replies)

As long as you can make the payments thats all that matters...
People seem to worry far to much about negative equity. It's only a problem if your actually going to try and sell the house. If you plan to live in it for 10 years or so then you can be sure that eventually it will go up in value.

Just so long as you can pay the bills then theres no point worry about what the place is worth.
(The_Mighty_Spleen, Thu 22 Jan 2009, 13:25, closed)

it was more about when we come to remortgage
how much equity we will have then, as there are higher lending charges and stuff.

the house is easily nice enough and spacious enough to live in for 10 years.

I'm sure it will work out ok though!
( Vipros. clever got me this far, then tricky got me in, Thu 22 Jan 2009, 13:27, closed)

Remortgage
When you come around to doing that, you may well find that the market has recovered and, whilst not rolling in it, you could be OK.

Never under-estimate the value-added from just cleaning a place up either!
(SpangleDangle >->)))'>, Thu 22 Jan 2009, 13:29, closed)

yeah, we've got 7 months or something
I'm confident that things will be starting to bounce back.

We payed slightly over the odds for this place for location and potential, but it was a fucking state when we moved in, with windows so shit that water was basically running down them. Sorted that out and now it's sound as fuck.
( Vipros. clever got me this far, then tricky got me in, Thu 22 Jan 2009, 13:33, closed)

Oh noes, my windows are like that
Which direction should water run on them?
(Vice Admiral Sir Charles Cockbrush KCB MBE DSO, who is finding it increasingly difficult to log into b3ta.com wants to duck your aunt and kick your puppy, Fri 23 Jan 2009, 16:01, closed)

I meant down the inside*
you bastard

*weather is generally intended to remain on the outside of one's house
( Vipros. clever got me this far, then tricky got me in, Mon 26 Jan 2009, 15:26, closed)