How do people afford houses in this day and age?

shoes

shoes

Well-Known Forumite
I see it has the standard issue council estate sky dish with accompanying scorch marks too - ideal :D
 
djwellis

djwellis

Well-Known Forumite
I am self-employed. With the projections from the company and taking the last few years into consideration, I could afford the repayments without a problem at all.

However, because my accountant as me technically earning £5,999 a year as my salary (because accountants do stuff like that I am told...), so therefore - no chance on any mortgage whatsoever.

I can get together about £15k for a deposit, which was fine a few years back... but now? - bah!


Just to let you know - you're not alone, I pay my rent every month with a heavy heart...



Anyone seen this?
http://www.youtube.com/watch?v=Q0zEXdDO5JU&feature=channel
 
Glam

Glam

Mad Cat Woman
I got my little 2 bed terrace in CastleTown for 93k,it was up for 97k but with a bit of bargaining I managed get my seller down.(Needed a fair amount of work doing) My mortgage is 50k,I only managed get that much because the broker I went to jiggled the figures,used overtime etc in the working out. I got the roof over my head because I had a very nice settlement in the divorce of 51k. I had no savings. My point is this, my eldest is 28,lives with me,he and his g/f are talking about getting their own place in the near future. They haven't got a chance of ever being able afford their own place. There's no way either me or her mother can help financially,if we could then we would. They can't get on the housing list because A. I have provided a roof over his head. B. She isn't pregnant.
They can't move in with her mum because she has 5 children living there and obviously hasn't got the room.
 
tek-monkey

tek-monkey

wanna see my snake?
Hate to say it, but they just have to rent. Without government assistence I could never have purchased my house, and there is fat chance of any more of that happening now :(
 
shoes

shoes

Well-Known Forumite
How depressing. Looks like it's going to be a while before I can afford a house either. I'm looking at probably a £30k deposit and a minimum of a £50k salary before I can even consider it. Yay!
 
L

Locksmith

Ricky
Its not the money aspect of buying that is a tough, its getting all the solicitors and banks to pull their fingers out and get the paperwork sorted.
We had the deposit and were good friends with the seller of the house and still it took 6 months for them to process it. Absolute nightmare, thats Halifax for you. The housing market isnt too bad for first time buyers really, you dont pay stamp duty and house prices are lower than they were a few years ago, lack of buyers means you can put in a lower offer. I had no problems
 
shoes

shoes

Well-Known Forumite
Aye i've read lots about this, something else I'm not looking forward to. Perhaps i'll just kidnap my solicitor's daughter, that should speed things along.
 
John Marwood

John Marwood

I ♥ cryptic crosswords
Summed by an Irishman in the States..

www.youtube.com/#/watch?desktop_uri=http%3A%2F%2Fwww.youtube.com%2Fwatch%3Fv%3DkoY6kXhQDQo&v=koY6kXhQDQo&gl=GB
 
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