Buying a first home,

andy2k · 3 Dec 2006 at 23:19

Im currently on about 20 thousand a year, is there any schemes out there to buy a house?

I really would rather buy, i only have about 1 thousand pound saved. Is there anything out there which would allow me to buy a small house?

I live in the swindon area, just need to know if there is any way to buy, or would i have to rent? cheers

andy2k · 3 Dec 2006 at 23:39

I will be given a pay rise in the new year to take my take home up to around #1400, plus a bit of overtime, and my second job i earn about #2500 gross with that.

Would this make anything more possbile?

Are house prices likely to drop at any point in the next 3 years or so?

andy2k · 3 Dec 2006 at 23:46

About 120k for the type of thing i want.

Will they depreciate at any future time? Maybe i could rent for 5 years, then buy if there more settled then?

andy2k · 28 Dec 2006 at 19:17

http://www.rightmove.co.uk/viewdetails-12979324.rsp?pa_n=23&tr_t=buy

Sorry ive not been online for some time now, the link above is a property i am looking at.

And below is one I'd consider renting,

http://www.rightmove.co.uk/viewdetails-6089493.rsp?pa_n=10&tr_t=rent

I will be permenant staff on probation in 3 months at my work, and will be on around 24k+ then. Would mortagage companys be put off by this?

Would i be able to pay the mortage on that first property, or am i best off renting for a couple of years? If i rented i could save around £200 per month.