Tony Bryer wrote:

The potential problem would appear to be that they increased the
mortgage by £25K, spent the rest on a new car, and the £10K kitchen
may or may not make a difference to the value of the house when
they sell.


Very true - I didn't want to get into that whole "lets borrow on the
house to finance our lifestyle" thing, but it's very prevalent.

I'm constantly amazed by how friends who are in very similar financial
and employment circumstances to us can manage to buy things which we
would simply not consider to be within our means.

--
Grunff