Your chances of owning your own home?

The problem is people can only do so much and a lot of people are been worked worked worked till they are ill. This is not how it should be but I feel thought people are worked to the bone not been able to afford a mortgage.

The problem is actually with the ever-decreasing standard of written English.
 
That has nothing to do with it so stop patronizing people! You troll!

You can't even get your retort right. What chance have you got of getting a decent job if this is a reflection of your communication skills?

Is your CV riddled with this sort of glaring illiteracy?

Step 1: Become good at presenting yourself - including written English
Step 2: Become as good as you can be at whatever you want to do for a living
Step 3: Get a great job paying great money
Step 4: Save like mad
Step 5: Buy a house!

Don't even need question marks or profit.
 
Got my first house a few months back, I worked hard to get the deposit together, but I am now on the property market, I am looking to get another one, through saving and letting this current one out.

I would say most people who live at home would be able to save enough for a deposit, but you have to be disciplined at it, which seems to be what many people lack these days.
 
I bought a few years back with 5% deposit, still on a bad rate now because of it, but it's a step on the ladder. I know you need 20% deposit these days, but that will change, I think 10% deals will start to emerge again within the next 12 months.

Lenders are already giving out 100% mortgages again, it was on the news this week - link

I'm lucky, I have a wife who's on considerably more than me and we managed to get on the housing ladder before prices went through the roof.
 
I bought my first house in 2002 and borrowed the deposit, kept it and went on a let to buy mortgage and bought my second in 2006 and rented the first again borrowing the deposit and fees on credit cards. Struggled like buggery to keep my head above water but since interest rates have plummeted and the mortgages have halved I've paid all the unsecured debt off and now have breathing space.

Its not easy and be prepared to be skint.
 
not on a house it isn't and it's only in the equation if selling.

''your house has dropped 10% in value of what you purchased it for'' ''so? i'm not selling, the mortgage is comfortable and i like it here'' 2011

''your house has risen 30% in value of what you purchased it for'' ''so? i'm not selling, the mortgage is comfortable and i like it here'' 2014

Or when re-mortgaging...

Or, for the sake of argument, when evaluating, if you wanted to, whether you'd have been better off renting for x period then buying rather than buying at the time you did....

The fact that not so long ago house prices did fall a bit illustrates that it isn't always best to buy - renting isn't always throwing money away and a falling market is a good example of that. Being in an area for a short time or planning to move somewhere bigger within a short time frame are also instances where renting is often preferable.
 
I'm 27 and still living with my parents, trying to save up for a deposit on a house but I really can't see myself being able to, even if I had the 20% deposit against the property I think the monthly repayments on a mortgage wouldn't be manageable along with needing to pay bills, run a car, eat, and the the other essentials.

I set myself a target to not still be living with my parents at the age of 30, I refuse to rent as I consider it to be 'dead money' and it's just further impeding me from actually owning a property. I'd be in the situation where I was living hand to mouth, all my wage would be used up on living and I wouldn't be saving any.

I saw an article the other day that said that an entire generation may well be without home ownership, which in the current climate is looking like it might just happen.

Is anyone in a similar situation to me?

I was living at home until about two years ago, I'm now 25 and living with the GF in a rented property, pretty much poor at the moment.

Not much chance of getting a house, as I can't even pay off my overdraft properly at the moment...And i'm one of those people who would want to move out 'in to the right place' rather than a random house
 
If I was single? Almost no chance - but with my fiancée we should be able to get a mortgage on a house within a few years. You really need the two incomes though as one income covers the mortgages + other bills, and the other income covers food + savings.
 
I bought my first house in 2002 and borrowed the deposit, kept it and went on a let to buy mortgage and bought my second in 2006 and rented the first again borrowing the deposit and fees on credit cards. Struggled like buggery to keep my head above water but since interest rates have plummeted and the mortgages have halved I've paid all the unsecured debt off and now have breathing space.

Its not easy and be prepared to be skint.

Why would you want to do that?
 
Got my first house a few months back, I worked hard to get the deposit together, but I am now on the property market, I am looking to get another one, through saving and letting this current one out.

I would say most people who live at home would be able to save enough for a deposit, but you have to be disciplined at it, which seems to be what many people lack these days.

H5
 
I bought my first house in 2002 and borrowed the deposit, kept it and went on a let to buy mortgage and bought my second in 2006 and rented the first again borrowing the deposit and fees on credit cards. Struggled like buggery to keep my head above water but since interest rates have plummeted and the mortgages have halved I've paid all the unsecured debt off and now have breathing space.

Its not easy and be prepared to be skint.

and how are you prepared for when your (i'm assuming) tracker, goes back up?
 
Everyone owning a house was a fantasy dreamt up by thatcher. In most countries people:

A. rent
B. have 3 or 4 generations living in the same house

You guys need to lower your aspirations me thinks.
 
If I was single? Almost no chance - but with my fiancée we should be able to get a mortgage on a house within a few years. You really need the two incomes though as one income covers the mortgages + other bills, and the other income covers food + savings.

you don't need two people (though of course, it helps) what you need is good money managing skills. it's amazing how people find it difficult to balance their money. money in vs money out, look at your bank statements over the past 3 months, then look at them over the next 3 months, see where your money is going. a lot of people think they know where their money is going but don't and it easily done. get a highlighter pen to the statements on certain purchases.
when i first did this, i was amazed that i was spending about £30 on 'snacks', sandwiches, drinks etc mon-fri, on top of taking a packed lunch to work (i'm not fat :p) i immediatley stopped this but because i was only spending £2-£5 at a time, i wasn't noticing what impact it was having on my income. internet shopping was the worst though as it's so easy. now, if i could just knock the smokes on the head :rolleyes:
lock the above in with other outgoings, fuel, any cc's or loans, that item of clothing you may treat yourself to every week/month and you get a clearer picture of where you can cut back.
some things are constants, mobile phone for example, i would pay £35 pm whether i lived at my folks or here, internet is different though as my folks paid for internet, now i have too, same with council tax, tv licence etc.
doing the above will help you budget on what you can afford for a mortgage.
 
You guys need to lower your aspirations me thinks.

I still maintain this is there real problem. People expect to get a nice house and have disposable income.
Rather than getting a house at the very bottom of the Market and not being able to afford furniture and finding freebies/very cheap second hand furniture.
Just like are parents had to do 40+ years ago.

If you look at the bottom end of the Market on 10% deposit mortgages they are very affordable.

The other problem, we are staying single for longer and marrying later, meaning less income and comparatively higher outgoings.
 
and how are you prepared for when your (i'm assuming) tracker, goes back up?

He's paid off all his unsecured debt. Besides interest rates aren't going up fast any time soon, so there's more than enough time to prepare. A rate rise won't sink all of us :p
 
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