Mortgages and Home Loans… Is It Worth It?

Aug 11 2007

My girlfriend and I have been loosly thinking about buying a house. We really love the idea of living in one place together that is our own but there are a few things holding us back. We have heard so many horror stories about mortgages and remortgages and other loans and all the horrible things that go along with that.

And it seem to be getting worse…

As far as we can tell interest rates are just going to keep on going up. All the indicators are pointing to it. This leads us to ask the question: “is it worth it?”. We are quite happy to rent and not be tied down with mortgage insurance and other such burdens but at the same time feel it would be amazing to live in our own house.

Hopefully we can decide what to do soon and hopefully the market will provide us with an incentive to buy. I wonder whether loans are going to keep going up in price or whether there is something that could force them to reduce the costs? Many people have put forth theories about a change in government forcing the costs of living down but I can’t see it happening.

Maybe we’ll just stick to renting.