A Bit Random!!!

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hi all

i am on track to have my loan repaid in march/ april next year- woo hoo!! which will make me 25.

then im going to start saving for a deposit on a mortgage

my worry is that when i do eventually get a mortgage, what happens if i lose my job through being laid off/ made redundant??!! how do i then meet the repayments each month??

i feel like taking out a mortgage is a huge gamble that should only be considered if are in a very secure job which pays very well.

the thing is that i only work as a yard assistant in a woodyard and its hardly a well paid career!

any advice appreciated :eek:
Total in ISAs = £8,863.50

Comments

  • sammy115
    sammy115 Posts: 15,267 Forumite
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    what you should do is take out mortgage protection which would cover you in the event of being made redundant or being ill...

    However, the general advice is that you should have 3 months wages in the bank as a safety net..
    Quality is doing something right when no one is looking - Henry Ford
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