PPRuNe Forums - View Single Post - Banks and loans - credit crisis?
View Single Post
Old 20th Aug 2007, 18:41
  #77 (permalink)  
bri1980
 
Join Date: Mar 2007
Location: Middle of nowhere
Posts: 228
Likes: 0
Received 0 Likes on 0 Posts
See post 55 of this thread for the figures I posted. They are conservative from the point of view that they don't include living money etc. and also they assume that you will get a job: a big assumption.

Although my figures presented there just add-up and say you might be able to pay off the loan and live, it's close enough that I wouldn't do it-a small interest rate increase (as recently) and you'd be stuffed.

Another point for you there-could one afford a 2%-5% increase in interest rates over the repayment period? Don't forget that rates are presently on the increase (though slowing): increased interest rates on loans and mortgages is real and has to be planned for.
bri1980 is offline