Unfair on Tenants!!! (a bit of a rant)

olly300

OP if you had a mortgage and where in a similar situation where one of you lost your job the government wouldn't help you unless the other person is earning £95 a week or less, and/or you have children.

And even then you would have to have your financial affairs picked through by a debt advisor before you are legible for help.

The news announcements about interest rates are irrelevant for most mortgage holders as the decrease in interest rates only helps the few on tracker mortgages. The majority of people on mortgages have a fixed rate deal so they are stuck on rates of around 6%.

ajksaver

Moozer wrote: »

So we pay rent, get no benefit from any reduction in mortgages, loose interest on any savings we have, pay increased costs like everyone else and if my OH gets made redundant (which was a real possibility) have no government introduced help. It hardly seems fair. Grrrrr!

Yes, I agree that the current economic policy is not fair to those who have saved hard or who are still unable to raise enough money to buy a property. However we are in a downturn and I think most people are suffering some way or another.

I also think you were right not to buy somewhere that unappealed to you and that you need to hold out for a property that suits your requirements while at the same time being realistic about compromising on less important factors.

It took me 3 years of searching before I found a place that I really wanted and could afford. Along the way I encountered a lot of depressing places that I didn't want to live in or couldn't afford.

I am sad to hear of your OH's risk of redundancy and hope that the other board members have suggestions on areas you could investigate to topup your income.

On the positive side the falling house prices mean that you are no longer aiming for a rising target. Even the low amounts of interest you are recieving on your savings will help move you both closer to home ownership in the long term.