Help us get our 1st mortgage

sugarpants_2

Andy

Would feel more secure and nice to decorate etc.

_Andy_

I understand that, its' natural to want your own home. But what you need to accept is without a decent deposit (which on that income/outgoings is going to take years and years to save up) it's not viable.
Not trying to be negative, just realistic.

Premier_2

_Andy_ wrote:

...Anyway, in a falling market why would you want to bother?

Perhaps the OP was hoping to reduce the £875pcm currently being handed over to buy the property for the LL?

This forum is for house buying, renting & selling. A quick perusal will indicate that the majority of threads are actually created by unhappy tenants.

_Andy_

Premier wrote: »

Perhaps the OP was hoping to reduce the £875pcm currently being handed over to buy the property for the LL?

This forum is for house buying, renting & selling. A quick perusal will indicate that the majority of threads are actually created by unhappy tenants.

Fair point - however the OP has debts which need to be repaid - whilst renting they don't have to worry about buildings insurance, costs of maintaining the property etc.

minimike2

What energy supplier are you with? I ask because at that price I would consider a swtich. I live in a new home with top notch insulation and glazing, and my gas on its own is £28 a month spread accross the year. I have never heard of such a low bill as yours!

hethmar

Sadly, I cant see you being able to buy before you get those debts paid off - thats what you should be working on at the moment. See what you can cut down on to reduce those credit cards. Can you move to a cheaper flat?

Phirefly

minimike2 wrote: »

What energy supplier are you with? I ask because at that price I would consider a swtich. I live in a new home with top notch insulation and glazing, and my gas on its own is £28 a month spread accross the year. I have never heard of such a low bill as yours!

I'm with Eon, although I think our bills are more due to our really low gas consumption (even though we have gas cooker & GCH) than our energy supplier...

PasturesNew

sugarpants wrote: »

Electricity............................. 15
Gas..................................... 15
Water rates............................. 28
Telephone (land line)................... 45 - get off the phone!!! Save £30
Mobile phone............................ 10
TV Licence.............................. 12
Satellite/Cable TV...................... 20 - use freeview only. Save £20
Groceries etc. ......................... 320 - cut this down to £200. Save £120
Petrol/diesel........................... 80
Road tax................................ 20
Childcare/nursery....................... 10
Medical (prescriptions, dentist etc).... 7

There's £170.

Can you not get another job? Evenings/weekends, occasional, babysitting?
Something.

You say you've been saving for 6 years yet you don't actually HAVE any savings. What on earth are you buying on the cards?

hethmar

Those water rates are high for a flat too.

Rabiddog_2

It seems fairly obvious to me how you get a mortgage .. do all the savings pointed out AND get yourself a full time job, 2 x 1800 pcm will make this calculation a lot more healthy. But you will still have to save,save,save a deposit. Kids need more money as they grow up AND don't forget a pension, money paid in now at your age (?? young?) will work wonders thru the magic of compounded interest.And Holidays, gotta cost £1000+ per year (even tho I have gone without a holiday for seven years, and I (used to) love going abroad. :weep: ).
I do think you have underestimated your gas and Electric