Mortgages

Kol said:
Likewise - I have lived with my partner for nearly a year now - I'm grateful for it - thankfully it's gone great. However, a point I wanted to raise re: deposit.

Those saving for the deposit (like myself) do you still live at home? I'm looking to have 25% (maybe more, depends on circumstances) but I'm looking to buy in around 2 years time. I'm trying to weigh up the benefits of this because my rent is £1200/mth. In these two years I'll have paid a hell of a lot of rent just to get a better rate, when I could be paying off £1200/mth of a mortgage.

I'm just trying to gauge whether the points raised in this thread are aimed towards those still living with parents, as I understand a fair few who have posted in here do live at home, or those in rented?
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Lived in London from Jan 08- 09 with my Mrs when I moved down to take a job. Rent in Tooting was still £1k pcm for a piddly 2 bedroom new build. It was great and we had lived together at uni, but obviously it wasn't all rose petals. Still, good experience.

Both moved back in with our parents to save for a deposit, and I'm currently putting away £750+ pcm into regular savers accounts, plus getting a free £15 pcm from halifax reward accounts as well as the extra interest from various other savings accounts. It's going to take time but we will be considering buying a house in 18 months - 2 years time with a 25% deposit.

As a note, it does help that we have a joint income of £60k+, although most of hers oes on shoes and boots :p

SpeedFreak said:
N. Ireland is amazing atm for property. This is not too far from where I grew up:

http://www.damclernon.com/property.asp?prod=726&cat=45&hierarchy=0

If only something like that was 250k here!
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God, if only :eek:
 
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