Very interesting post guys !
I can see it from both side but I can also remember how hard it is to live in the Gatwick area and pay off large loans......got myself into that trap a while back and its hard !
So every penny saved before you take the leap towards your dreams is a pennys less interest to the banks.
Lets face it when borrowing slows down due to the cooling effects on the housing market the banks change gear and will loan ANYONE money for ANYTHING !
As WWW says the interest rates could go back up to where they were a few years ago.....and further.....and thats when people foud themselves unable to repay the mortgage ect ect.
A very good friend of mine has just finished at a top UK school got all the bits of paper and spent £60K + AND NO JOB ! ! ! !
Having said that sometimes you just have to GO FOR IT but you have to remember the maths at the end of the day.....that banger awaits you and you can forget about 'airport night' in Creapy Crawley for a while !!!!!
Good luck to you anyway my friend + wise words WWW !
