We got fixed rate for 3 years for that very reason. Wont be anything left over, but we're both sciencey type people and solar panels for at least the heating it always something we've said we'd want, so in the longer term we'll definately look into it.
AFAIK solar panels (most likely PV rather than water heating ones) and wind turbines don't manage to pay themselves back in their own lifetimes. Worth checking out before you buy and fit em. Same thing with double glazing.
Might buy a little photovoltaeic (sp?) cell to run a water fountain to save messing around with cables in the garden but that's about it for a while anyway. Already got double glazing so no worries there.
Haqve you had the figure which tells you how much you repay for every=20 =A31 you borrow?
Just to frighten you, on a 10 year mortgage, I'm repaying =A31.34 for=20 ever =A31 I borrow. I'd hate to think what 30 years is.
--=20 Conor
Light travels faster than sound. This is why some people appear bright=20 until you hear them speak.........
Don't you mean 20? Anything over 10 years and you're paying a whacking amount.
Haqve you had the figure which tells you how much you repay for every £1 you borrow?
Just to frighten you, on a 10 year mortgage, I'm repaying £1.34 for ever £1 I borrow. I'd hate to think what 30 years is.
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Unfortunately I have, and its over £2 I think. But they way I think about it is if all things remain static (which they wont) in 30 years we'll own our own place outright, if we keep on renting in 30 years we'll own nothing. It gets us on the ladder which is the main thing for now
That may have been the case a few years ago, but the projection of future energy prices has changed somewhat!
They're set to fall this winter after the new pipeline opens.
Then rise the next time we upset the Russians ;).
Perhaps a bit, but I'm more talking about the long term projection of how far ahead of inflation gas prices are likely to climb over the next 10-15 years...
Although you should look at the numbers carefully - if you go for a
2-year discount type of mortgage, then you may be better putting the extra cash into an ISA or high-yield fixed term account and paying off a lump each 2 or so years when the discount period is up and you change mortgages. As long as you have the organisation and will power not to buy shiny things in the meantime, obviously :-)
No, silicon PV cells are still hugely expensive and are fundamentally inefficient because of the work-function of silicon. However water-heating solar panels are diy-able for £few/square foot and can be anything up to virtually 100% efficient - definitely worthwhile considering.
But almost exactly no-one can get a 10-year 90% mortgage these days. Average house price for first time buyers is something over £130k now, which would be ~£1300 /month over 10 years!
I can ignore the shiney things - it's the oily stuff that lands me in trouble!!!
Why?
Not unrealistic for a couple.
--=20 Conor
I'm really a nice guy. If I had friends, they would tell you.
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