young and dumb

[The Raven]

actually ide do B and C cover ya arse in the house ya in and invest in another

 

Id still be very very carful in the current climate. Its what i do for a living (buy and sell on houses) Everyone close to the housing market is more or less seeing how things are going to end up in six months. Alot of the people that supply to the trade are cutting right back on stock now to.

[rob wild]

Personally I would go with B. Saying that I decide to do it a different way as I'm about to buy a 5 bedroom place with a double garage hopefully move in next week just before Xmas

 

But if your happy were you are house wise i would spank the rest of the mortgage off and then you will have loads of money for what ever

[D8MOA]

oh i do aggree with your other post raven ide give it a good 6-12 months before ide buy... but he can put B in to action now while saving for C

[Mr. Fish]

instead of paying 30 odd K for the porsche, put that into your supra and go single again

[The Raven]

oh i do aggree with your other post raven ide give it a good 6-12 months before ide buy... but he can put B in to action now while saving for C

 

Spot on pay off more on his own house and save some , then cash in when things are a little clearer

[fat_controller]

instead of paying 30 odd K for the porsche, put that into your supra and go single again

 

i'll never lay another mod upon my current supra, it's so mint and is fast enough-ish

[erol_h]

Im the same age as you mate be smart invest in your money. I own a property too and im left with the same amount as you are each month and im either gona throw the cash i have at the mortgage when the fixed rates over or by another property. When your older and have less bills to pay then you can spoil yourself thats what im planning. Imagin if you get the porsche something goes wrong and you cant affford it your screwed .

[Stevie72]

Mortgage your house to pay for the Insurance!!

[fat_controller]

Mortgage your house to pay for the Insurance!!

 

 

what £1600 fully comp. lol, won't need a mortgage fella;)

[D8MOA]

Mortgage your house to pay for the Insurance!!

 

whos ya mate

[marbleapple]

ok, here comes the rant:p i bought my house 2 years ago with my girlfriend, i earn nearly 3 x what she does, we're both 21 and have a good relationship. I'm currently in a position where i have about 1k + after al bills and outgoings each month but somehow manage to waiste it and spend it on crap but if i have something to pay for somehow i always pay for it. i've decided on three options what to do wth this spare cash,

 

A:take out a large loan and buy a porche 911(996) turbo(i'll have to sell the supra for the rest of the funds:()

 

B: Reduce the term of my mortgage and get it payed off really quick but also run the risk of my girfriend getting half of my had earned cash if god forbid we ever split:(

 

C: Try my very best to actually save some cash and invest in a second property or property abroad.

 

I know this is sad putting this on the forum but all advice would be much appreciated.

 

Go for B and when you renegotiate the mortgage go tenants in common so that you have your own defined shares.

 

Or open up one of those saving accounts in which you can't touch it for a year once you deposit and set the monthly standing order of say £800 p/m into it.

[jefferson]

Go for B and when you renegotiate the mortgage go tenants in common so that you have your own defined shares.

 

Or open up one of those saving accounts in which you can't touch it for a year once you deposit and set the monthly standing order of say £800 p/m into it.

 

thats exactly my answer - tenants in common instead of joint tenancy - you can then have the ownership split 75/25 or similar - if the situation is as you say surely she would understand that you are paying more in and would be happy with this

[ozz]

I think it depends what your mortgage is, mines only about 15% of my property value and I don't really want to reduce it more incase I need the cash again fast. I've been caught out in the past when splitting with someone I had to sell the house to release funds to pay her off, they wouldn't release the equity I had in the house (or only a really small %).

 

I'd look for another investment in your name only, spread the risk. If things go well between you then you can transfer the asset in (virtually or actually).

[Supra-Brett]

A all the way, your only young once Ant

 

 

 

Although B is more sensible.

 

He is only young and hes already lucky enough to have a Supra !!

 

Invest in property shares etc, dont blow too much on cars when you already have a good one

[keancy]

I would say go B and also get leagal back up some form of pre nupt that says if she were to split then you get what you put in. That way you would have even more money to blow!!! However I would go A

 

Yeah right, if I was your missus and you said that to be there would be fisty cuffs at dawn mate

 

 

Just get your girlfriend to earn more money or dump her.....

 

Then I would go A anyway.....

 

H.

 

Hmmmm, I wonder what Mrs.H would say about that comment lol??

 

 

 

Anyways, my advise would be wait a few more months in which time you can pay more of the current mortgage then check out the housing market and buy a nice property somewhere like down here in Cornwall and rent it out to cover your monthly. Then when you have kids and the like you will be happy and save in the knowledge you have value behind you.

 

You can always buy a nice motor later on in life.

[Pete]

I think you should do B, it's the sensible option.

 

 

 

Now because I bought my house 15 years ago I'm off to go and buy that Porsche you posted.

[keancy]

I'm off to go and buy that Porsche you posted.

 

[dangerous brain]

Another option is buy property abroad in one of the up and comings like cyprus was, bulgaria still might be and turkey is in alot of areas. With the money out of the country it cant be touched by those with no direct ties to it and it should grow faster than your mortgage interest.

[johnd-mkiv]

D) buy my skyline, sell the supra put that towards a flat ya bird cant get involved with, rent it out then buy a porche in a couple of years with some of the profits;)

[marbleapple]

thats exactly my answer - tenants in common instead of joint tenancy - you can then have the ownership split 75/25 or similar - if the situation is as you say surely she would understand that you are paying more in and would be happy with this

 

Thinking about it, mortgage payments are not counted in relation to shares should you split so it might not be much use going TinC unless tghe GF accepts that you should own more of the house.

 

As for the comments about buying 2nd homes, foreign homes etc, my advice is be very careful. Huge number of to let properties and new homes around here and many are not selling and even some price falls (thus causing negative equity)

[Mike B]

you are too young dude.

 

Either invest it in something personal, or save it and keep the sup. Don't put it in the house until your other half puts the same into the mortgage.

 

Call me cynical, but if I bought a house with my other half, we would both have to put the same in otherwise it's a big no-no from me.

[Tom]

Ant,

 

Just do A,B & C, that'll be much easier

[creative]

21 and have over 1k left at the end of the month??? wtf do you do!! I'm in the wrong job!

 

Personally I would pay every penny into savings or isa or something like that... The house is allready paid for but both of you and if it does go tits up you have a nice little nest egg sat waiting.....

 

I just wish I was that sensible when I was 21

[Lbm]

Great question...I think a combination of B & C as has already been suggested.

 

You'll get your Porsche no doubt at some point anyway...

 

Morocco is also an up and coming BUY TO LET market: £40,000 for 2 bed apartment etc...

 

And perhaps within a few years ...all 3 choices could be yours....B and/or C first though.

 

Good luck

 

Also ...pay off mortgage really fast??? Well how about if not 'Really fast'...just faster?

Knock off 3 or 4 years here or there, plus do your other stuff !!

[n boost]

I would take the porsche. Life is too short and you do not know what the future holds and you only young once.