From: "Rob graham" 
Newsgroups: uk.finance
Subject: Re: over 100% mortgage
Date: Sun, 31 Jul 2005 21:04:26 +0000 (UTC)


"Jonathan Bryce"  wrote in message 
news:oumvr2-qrn.ln1@michelle.jbryce...
> Jag wrote:
>
>> Hi,
>>
>> I am looking at borrowing £350,000 to buy a house.
>> But I don't have any money for the deposit, nor for legal fees etc...
>> I currently pay £1,600 per month in rent and would like to stop wasting
>> money.
>
> Mortgage interest is also a waste of money, and it is likely that the
> interest on a £350,000 loan would be more than £1,600 per month.  You also
> have things like buildings insurance to worry about.

At 6% almost exactly twice that.

Rob Graham