prince2008
Registered User
- Messages
- 29
About the car, I've had second hand cars in the past (ones that I thought were good!) and just ended up spending a fortune on repairs etc. I've usually borrowed for these...
Seems to me that this was simply a subjective/personal opinion as opposed to some immutable rule:However, to say that a mortgage is only affordable if you can repay it in 20-25 years... why that number? Why not 10-15? Why not 15-20? A 10 year mortgage will be much cheaper overall than a 25 year so should you only borrow if you can afford those repayments?
If you can't afford repayments over 20-25 years then you could argue you can't really afford the house?
Seems to me that this was simply a subjective/personal opinion as opposed to some immutable rule:
Its just a chance i have to take.......
True, but it is nonetheless arbitrary.
Why do you have to take the chance?
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