Homebuyers could be forced to put down a deposit of at least 15 per cent

chucky

ninky wrote: »

if you can't get a deposit together you're not in a good position to be buying a house as it suggests a lack of disposable income and therefore vulnerability to interest rate changes.

the prices will drop as a result of curtailing lending.

i think we should stop mortgage lending altogether or go to a system similar to the one they have in iran (lendingwise, not ideologywise). but things are going to have to get a lot worse before anyone will consider such radical ideas....

people have assumed that not being able to buy would have an upward pressure on rents - it's not been the case. in time it will however.

are you being serious about your Iran comment - don't they have Sharia compliant financing?

Cat695

ILW wrote: »

Why not save the deposit, get the house and THEN have the children. Just a suggestion.

As my Dad now says we're a NOW generation....and can't possibly wait till we have saved up for something.

GrammarGirl

ILW wrote: »

Why not save the deposit, get the house and THEN have the children. Just a suggestion.

Because reproduction is natural and not a factory line you can just join when the time is convenient? Lots of couples have families at the most inappropriate, inconvenient times. Life doesn't always flow the way you want it to.

StevieJ

[quote=ninky;20002795]if you can't get a deposit together you're not in a good position to be buying a house as it suggests a lack of disposable income and therefore vulnerability to interest rate changes.

...[/quote]

What if interest rates are at the top end of the range say 15% at the time

piggeh

People could always get a second job etc to save up a deposit if it's a struggle. I'm sure people used to do this previously.

One salary should be enough to live on and save for a rainy day/deposit but unfortunately it's not for many, fact of life. I would include myself in that category if my mum wasnt generous enough to let me live in her house at low rent, despite her moving out (it's a class thing innit - those in higher classes will more easily get on the housing ladder than lower classes who will be more likely forced to rent or seek social housing, which would probably give them a more advantageous position given the rents on them I guess).

ILW

GrammarGirl wrote: »

Because reproduction is natural and not a factory line you can just join when the time is convenient? Lots of couples have families at the most inappropriate, inconvenient times. Life doesn't always flow the way you want it to.

I would suggest if you plan, prepare and show a little care that is not the case with the vast majority of couples.

ukcarper

Why not save the deposit, get the house and THEN have the children. Just a suggestion.

Cat695 wrote: »

As my Dad now says we're a NOW generation....and can't possibly wait till we have saved up for something.

When big deposits were the norm back in the seventies that is exactly what most people did. Living with their parents while they saved for the deposit then getting married and living together then waiting a while before having children.

Dad possibly right

Graham_Devon

chucky wrote: »

Graham - as you know not everyone can buy a property.
so to summarise your rant above some have to move so that they can buy in their local area - that's market forces unfortunately.

if house prices go up - it's market forces.
if house prices go down - it's market forces
people have to live with it and just get over it.

to add to me it doesn't really matter someone else is into BTL or not - it should matter even less to you what my investment strategy is.

btw they're is lots of things that we can discuss off-topic. take your pick from the below seeing that you're trying to get personal...

we can go further we can talk about the mistake of buying a Shared Ownership?
or shall we talk about you living alone and being lonely?
shall we discuss tyre prices?

let's be sensible and stop being a complete g1mp

You are wrong, again.

But I never ever get personal with you? Yet you get personal with me everytime you respond. What gives? Is this your argument? Just get personal if someone disagrees?

You are wrong on the two factors you bring up there. But go on then, lets talk about the mistakes I made with Shared Ownership, if you wish? No doubt you will try and act like an adult now and state "no, this isnt the thread". Can read you like a book

moggylover

ray123 wrote: »

It should only take 2-3 years to save the deposit.
Is a very good idea imo, for the reason that it will teach FTBs the art of budgeting...

If someone cannot save a deposit of 30k over 3 years (833.33 per month), how can they afford to puchase a property and keep up with mortgage repayments?

So, if they are renting for £833.33 a month and therefore cannot afford to save that, then they would suddenly not be able to find £833.33 per month once that rent became a mortgage?

Can't see how your argument is meant to make sense, although not against the idea of a deposit being necessary.

GrammarGirl

ILW wrote: »

I would suggest if you plan, prepare and show a little care that is not the case with the vast majority of couples.

You can show as much care as you want - it can still happen. I'm sure you're right that this is how it goes for the vast majority, but not all.