The UK Housing Market and Me

In January 2010 I found a great house. We could buy it but only if we could complete in 6 weeks. The only way we could possibly do that was rent out our house and get a buy to let loan for the new house. We therefore became reluctant landlords at the mercy of the UK housing market.Everyday the media has news or opinions about house prices and interest rates and these are my only indicators as to whether I am leading my family to financial ruin, bare survival or reasonable wealth and well being.

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Saturday, 31 July 2010

June 2010

The Tories are in government and just like the early 1980s the economy and jobs are looking bleak. This is having an adverse effect on people`s confidence to make a house move.

A memeber of the BoE committee votes for a rate rise but it still looks likely that there will not be a rise for some time.

On the plus side, also, I get a small bonus at work and we manage to rent out our garage which will be a welcome further source of income. I am able to pay off a further chunk of the money I owe to my Mum.