Because I don’t qualify for a mortgage for double the fair market rate. That’s why they’re willing to pay so much for the properties. It keeps us from buying them.
Because banks for some reason think that people can’t afford to pay a mortgage that’s less than their current rent.
If it’s that simple, why don’t you just buy somewhere?
It was for me, so I did. Went from paying £375/m rent to £200/m mortgage.
Most people can’t do that without leaving the community they have roots in
Because I don’t qualify for a mortgage for double the fair market rate. That’s why they’re willing to pay so much for the properties. It keeps us from buying them.
Because banks for some reason think that people can’t afford to pay a mortgage that’s less than their current rent.