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

tommy75

chucky wrote: »

yes you're right



just shows that home buying isn't for everyone and should only be for those that can afford to own their own property

I've worked over 50 hours a week hard for over 10 years and still can't afford anything reasonable for my family. If you came anywhere near me and said that, I'd knock your head off your shoulders you smug ...

Graham_Devon

Smog_Monster wrote: »

No? So what are



and



if they aren't personal?

Wrong name chucky.

mitchaa

tommy75 wrote: »

I've worked over 50 hours a week hard for over 10 years and still can't afford anything reasonable for my family. If you came anywhere near me and said that, I'd knock your head off your shoulders you smug ...

Hey Chucky may be 6 ft 10, 18st and a professional cage fighter so keyboard warrior tactics should not be used in an internet discussion;) (It just makes you look weak)

I think you could have worded your reply a little better. I see your frustration, and i agree with you that for many, savings on these scales are not possible but i think Chucky was mainly at a fishing attempt rather than trying to upset anyone in particular.

Relax.

chucky

tommy75 wrote: »

I've worked over 50 hours a week hard for over 10 years and still can't afford anything reasonable for my family. If you came anywhere near me and said that, I'd knock your head off your shoulders you smug ...

tommy i think you've taken it a bit out of context and apologise for it being taken badly.
i'll ignore the last two sentences

can i ask you why can't you afford anything reasonable for your family?
please explain

do you currently rent privately?

chucky

Graham_Devon wrote: »

Wrong name chucky.

i'm down here Graham - can say all i like with this user name

white_noise

interesting discussion about saving £833 a month and how that relates to getting a deposit of 15%, i have a couple of views on this as i have been doing this for the last few months.
before i go on i think that the amount of deposit should be 15% - 25% as this shows that you are serious about getting a house, it is a lot of money but a house is a big purchase and the bank is lending you a lot of money.
as for saving ~£850 it is tough but it is possible, i am on a good wage (32k) and have small overheads (rent £400 inc household bills), i don't have kids, don't regularly drive and don't go out a huge amount. i'm hoping to save 20K in 2 years though i am in a lucky position to do that and not everyone can do this as they have other finacial commitments (family higher rent), but i do think that a deposit should be achieable to save over 5 years, say on a 150K mortgage, to get a 15% mortgage you need to save £375 a month over 5 to get that, tough but doable.
a correction in house prices are definatly needed, and hopefully something like this will make that happen,
it will be interesting to see how things work out
WN

Graham_Devon

chucky wrote: »

i'm down here Graham - can say all i like with this user name

Tis true. I just found the lack of capitals, same as you, mucho amusing.

Go on, admit it, you know you want to. Fail.

chucky

Graham_Devon wrote: »

Tis true. I just found the lack of capitals, same as you, mucho amusing.

Go on, admit it, you know you want to. Fail.

it musy have been some other loser in their own little over-leveraged BTL fantasy world

Out,_Vile_Jelly

ray123 wrote: »

Those who are living in rented accommodation have helped to create the massive boom in the housing market…My idea of a FTB was someone living at home, having finished school/university, saving for a deposit together with their boyfriend/girlfriend.

Sadly not everyone's parents lives conveniently near sources of employment. The most miserable months of my adult life were spent living at home- a rural area with limited opportunites for graduates meant I could hardly save up anything anyway. Not all parents are in the position to house their adult offspring, and not everyone wants to settle down straightaway, even if they think they have found Miss/Mr Right. Basically I don't think you can generalise about FTBers given the wealth of career and travel choices available to young people today.

I have 20k saved up and absolutely no debts- some days I'm quite proud of this, others I look at property prices in London and laugh hollowly, as 20k is utterly meaningless in that context and I may as well have nothing.

Graham_Devon

chucky wrote: »

it musy have been some other loser in their own little over-leveraged BTL fantasy world

About as likely as the recession being a good thing for the BTL landlord though