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[quote][i]Originally posted by Melville[/i] [quote][i]Originally posted by JadeM[/i] [quote][i]Originally posted by Melville[/i] Buying and selling with an interest only mortgage is a good plan in theory but with the slow down and possibly even decrease in house prices it might not work out exactly as you had planned. [/quote] Slow down:boggle: The've been saying that since the early 90's.....where is it:boggle::lol: [/quote] Not sure how fast houses went up in Scotland but in Newcastle they were increasing at a rate of £5k a week a couple of years ago. Again in Newcastle, not sure about the rest of the UK, there is a house opposite mine that was on the market for £195k and they have had to reduce the price down to £165k and still havent had any real interest. This isnt a one off either as I have heard a couple of people with similar stories who are having difficulty paying the mortgage. That leads to another story though.....repossession auctions :cool: [Edited on 17-08-2006 by Melville] [/quote]
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