Aw fuckin ell.
I cannot get another mortgage for about 3 years after paying off me IVA.

Do I

1) rent for 3 yrs and throw more than 30k away in rent paying off someone else's morgage
2) buy a flat somewhere outright with my cash (90-120k) and rent it out thus offsetting the amount thrown away in rent
3) buy somewhere in Lusty's name and milk the 1st time buyer incentives out there
4) dunno, soz

What say you, internet spazmoes and self-appointed financial experts???
( Monty Boyce, My cheese game is strong, Thu 22 Aug 2013, 15:16, 13 replies, latest was 12 years ago)

4 YESSSS!!!!!!!!!1

( MEATSNAKE Richard Hammond, Thu 22 Aug 2013, 15:18, Reply)

Thank you for your invaluable input at this difficult time.

( Monty Boyce, My cheese game is strong, Thu 22 Aug 2013, 15:19, Reply)

Pleasure.
In reality, I'd go with 2.
( MEATSNAKE Richard Hammond, Thu 22 Aug 2013, 15:20, Reply)

Lateral thinking here Monters...
5) move in with your mum(s).

Seriously though, assuming that Lusty isn't going to run off anytime soon (she may eventually cave in to Gonz's advances - we all do eventually) then I'd go with 3).
(Reverend Fister "a disciplined fuckwit", Thu 22 Aug 2013, 15:22, Reply)

combination of 1 and 3, i reckon
so long as your capital/deposit is locked up really safely, a couple of years renting will fly by, and won't make any difference in the long run - it's not as if you're trying to get a mortgage at 70.

but would be worth checking out what's out there and doing it in lusty's name, chat with the broker to see if your income could be taken into account.
( rachelswipe with a fork, Thu 22 Aug 2013, 15:22, Reply)

I would say 2.
Where will you be living in the meantime?
Not sure of your plans, soz.
( GeordieJay Bummers are deaf, Thu 22 Aug 2013, 15:22, Reply)

I was originally going to say 3 but don't know about your relationship.
In other words, just ignore me, and thanks for your time.
( GeordieJay Bummers are deaf, Thu 22 Aug 2013, 15:23, Reply)

Just say 4!

( MEATSNAKE Richard Hammond, Thu 22 Aug 2013, 15:24, Reply)

Grange hilzzzzzzzz

( GeordieJay Bummers are deaf, Thu 22 Aug 2013, 15:25, Reply)

Poor Zammo.

( MEATSNAKE Richard Hammond, Thu 22 Aug 2013, 15:27, Reply)

why is there no 6) pretend to be a cow and live rent free on a farm

( glued eel /questions/questionsyoudliketoask/post1648081, Thu 22 Aug 2013, 15:33, Reply)

^ this ^

( sporters I’m sincerely gratitude to you, Thu 22 Aug 2013, 16:29, Reply)

Blow the cash on wine, women and song

( Two Hats 🎩🎩, Thu 22 Aug 2013, 15:26, Reply)

Another thing to consider
being not in debt for the first time in decades may fundamentally change your personality and cause Lusty to dump you.

Y'know, just to put a cheery face on it.
( The Light in Chains don't touch the Pope's boner, Thu 22 Aug 2013, 15:30, Reply)

Lets just hope she burns through his money first...

(Bonzodog29 is an unemployed sponge of the worst kind, Thu 22 Aug 2013, 15:32, Reply)

as others have said
A combo of 1 and 3...

I hate the way people think of renting as throwing money away, it really isn't. While you may not own the property as long as you look at somewhere that doesn't cost anymore than your current repayment then you maintain your capital.
(Bonzodog29 is an unemployed sponge of the worst kind, Thu 22 Aug 2013, 15:30, Reply)

yeah but growth is better than treading water
I've trebled my money on my current place in 11 years
( Monty Boyce, My cheese game is strong, Thu 22 Aug 2013, 15:33, Reply)

While I agree to a certain extent
It is a very odd British attitude toward renting that the rest of the world just doesn't have, certainly for city living, You would only be doing it in the short term and would be able to invest the capital sum into a decent scheme so your money would/ should still grow
(Bonzodog29 is an unemployed sponge of the worst kind, Thu 22 Aug 2013, 15:37, Reply)

...by about £200 a year

( Monty Boyce, My cheese game is strong, Thu 22 Aug 2013, 16:27, Reply)

is that growth
YES IT FUCKING IS... I didn't say by how much did I.

I will accept your full written and humble apology
(Bonzodog29 is an unemployed sponge of the worst kind, Thu 22 Aug 2013, 16:34, Reply)

Not 2
I can't imagine where you'd get somewhere close to here for 90-120k that isn't a shithole and therefore shitty people.

You hate everyone anyway, so landlording yourself is out of the question and estate agents are cunts.

You can't gift it to Lusty, so you'd have to be named on the Mortgage, which they may not allow.
(Himjim died a little more inside on, Thu 22 Aug 2013, 15:33, Reply)

Oh yeah, if you do 1,
invest it wisely and safely. Split it up a bit and work bonds/ISAs as much as you can.
(Himjim died a little more inside on, Thu 22 Aug 2013, 15:34, Reply)

Change your name to 'Mince Gaydar - Hippypimp Extraordinaire'
and take a sockful of snookerballs across the road to yon brothel demanding to 'wet your beak'. Once confirmed as 'the daddy' of the operation you can set up residence in the cafe below, you could sleep under the counter and have fish & chips for breakfast lunch and dinner! All the fish & chips!!
( Reginald Donkeyfuck, Thu 22 Aug 2013, 15:34, Reply)

FINALLY some common sense

( Monty Boyce, My cheese game is strong, Thu 22 Aug 2013, 15:40, Reply)

Or Option 7
Move out of the shit hole that is London get a 3 bedroom property in the countryside with a garden and nature walks... Buy the waistcoat you always wanted and reminisce about when you wrote Silverdream Machine
(Bonzodog29 is an unemployed sponge of the worst kind, Thu 22 Aug 2013, 15:42, Reply)

consolidate your unis into one easily affordable monthly job, quit payments get a debt.

( Peej, Thu 22 Aug 2013, 15:56, Reply)

With an IVA you might not be able to contribute to Lusty's new mortgage
I'd rent for 3 years, pay off all debts and have a good look around where I could afford with as much of the moneys in as high an interest account as possible locked up for the 3 years.
( sporters I’m sincerely gratitude to you, Thu 22 Aug 2013, 16:31, Reply)

I won't be in an IVA

( Monty Boyce, My cheese game is strong, Thu 22 Aug 2013, 16:33, Reply)

Yeah, but if you can't get a mortgage for 3 years you may not be able to be listed as an income for the same time

( sporters I’m sincerely gratitude to you, Thu 22 Aug 2013, 16:34, Reply)