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  #21  
Old 26.05.2013, 11:01
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Re: Did we do it right ? Yes, we did....I think :)

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Indeed I would not buy at those ridiculous over-inflated prices in Geneva area, Zug or Zurich - where the bubble is definitely forecast to burst by end 2014. Again, tax may well be a bit higher here, but it's still a win win situation with lower prices for most things.
Cause these guys always get it right
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  #22  
Old 26.05.2013, 11:13
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Re: Did we do it right ? Yes, we did....I think :)

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Cause these guys always get it right
Well restrictions on new B permits may well be the turning point.
Of course the London / Geneva / Zug prices are nowhere near central London prices, although in places like Highgate N6 where asking prices have fallen 10%, and many house have been on the market for more than a year. One house in the Bishops Avenue even dropped from 100,000,000 to 65,000,000.
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  #23  
Old 26.05.2013, 11:18
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Re: Did we do it right ? Yes, we did....I think :)

Poor things, breaks your heart out
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  #24  
Old 26.05.2013, 11:25
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Re: Did we do it right ? Yes, we did....I think :)

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One house in the Bishops Avenue even dropped from 100,000,000 to 65,000,000.
Link please. I could use a gaff to hang out in on odd weekends in London
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  #25  
Old 26.05.2013, 12:13
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Re: Did we do it right ? Yes, we did....I think :)

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Congrats on your new purchase and rate negotiated. It will be interesting to see after 10 yrs weather the right choice was made given current interest rates. A calculated gamble we all take on property.
With 10 year fixed interest rates being so low, the advantage of having a lower libor rate is somewhat reduced.
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  #26  
Old 26.05.2013, 12:20
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Re: Did we do it right ? Yes, we did....I think :)

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I very much doubt that bearing in mind I already own a property here. The point I was trying to debate before you became the resident expert was choosing a fixed rate over varaible. Interest rates have nothing to do with it, really?

It is all about personnel choice at the end of the day and what is best for you at the time of purchase.
Of course interest rates are very important. The point I was making is that if you buy a fabulous 6+ room house in good nick for 750.000 instead of 2.5 mio, and in a place where prices are almost certainly going to rise, rather than fall - you are very much quids in anyway (Not us- I hasten to say, as we are just a little further away - but you never know... one day. More or less irrelevant to us at our age, but might be of interest to our kids one day).

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  #27  
Old 26.05.2013, 12:29
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Re: Did we do it right ? Yes, we did....I think :)

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hmm - not following you; find it hard to see how I could have made a better choice ? Care to enlighten me ?
IF the Libor rate remains below the 10 year fixed rate for the next 10 years you will have technically made the wrong choice. Of course fixed 10 years has much less risk associated with it. Of course hindsight is 20/20.
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  #28  
Old 26.05.2013, 22:09
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Re: Did we do it right ? Yes, we did....I think :)

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IF the Libor rate remains below the 10 year fixed rate for the next 10 years you will have technically made the wrong choice. Of course fixed 10 years has much less risk associated with it. Of course hindsight is 20/20.
Even if the Libor rate would stay lower all 10 years (very unlikely IMO),being on Libor always fearing the market I would say is not worthy % points it could be lower.

But yeah,all about personal choice
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  #29  
Old 28.05.2013, 10:15
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Re: Did we do it right ? Yes, we did....I think :)

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Even if the Libor rate would stay lower all 10 years (very unlikely IMO),being on Libor always fearing the market I would say is not worthy % points it could be lower.

But yeah,all about personal choice
absolutely. the peace of mind might be worth it. although you do have some disadvantage in flexibility in addition to price.
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Old 28.05.2013, 11:37
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Re: Did we do it right ? Yes, we did....I think :)

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Did you choose a butler or a maid?

If only!

A maid would be nice are you offering?
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  #31  
Old 28.05.2013, 13:45
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absolutely. the peace of mind might be worth it. although you do have some disadvantage in flexibility in addition to price.
what disadvantage ? If had locked it for 10 years at lets say 3% or 7% I could see it - but 1.87% would only be bad if the interest stays way below that for majority of the 10 year period, right ?
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  #32  
Old 29.05.2013, 00:02
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Re: Did we do it right ? Yes, we did....I think :)

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what disadvantage ? If had locked it for 10 years at lets say 3% or 7% I could see it - but 1.87% would only be bad if the interest stays way below that for majority of the 10 year period, right ?
There's a loss of flexibility. With a fixed rate, presumably you have a "lock-in" period of as long as 10 years, where you'd have to pay a penalty to repay the loan (eg when refinancing or selling the house).

Last edited by 22 yards; 29.05.2013 at 13:33.
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  #33  
Old 29.05.2013, 00:54
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Re: Did we do it right ? Yes, we did....I think :)

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There's a loss of flexibility. With a fixed rate, presumBly you have a "lock-in" period of as long as 10 years, where you'd have to pay a penalty to repay the loan (eg when refinancing or selling the house).
That is partially true.

Since the interest is so low and because its one hypotek (not two) I should be able to easily sell/pass on the loan to a new owner. Thats at least what I've been explained

If it was split in two hypoteks that would be much harder and with a variable loan I probably wouldn't be able to get anyone to take the loan over.
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  #34  
Old 29.05.2013, 01:05
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Re: Did we do it right ? Yes, we did....I think :)

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what disadvantage ? If had locked it for 10 years at lets say 3% or 7% I could see it - but 1.87% would only be bad if the interest stays way below that for majority of the 10 year period, right ?
loss of flexibility if you wanted to pay off early, etc. not really a big deal.
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