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

franklee

Tygermoth wrote: »

I am 37 yrs old, work hard. I had three jobs (lost two to companies going in to administration) My other half works min 50hrs overtime per month. We are in private rental (which PCM is well over and above the mortage amount for any home we would wish to buy)

We have no children, we have no social life. Every penny is used till it squeaks, but to get the required deposit would take so many years it would be not worth the effort as we would likely be too old to enjoy it.

All i can envisage is us living in this rental forever.

Why did we not start saving earlier i hear you ask? well there was uni, moves for careers, reduction in monies for training, a period of unemployment (during which our savings kept us afloat, as they should). When we finaly settled in our Jobs its too late. We both now will not consider a family as we cannot consider a rental as secure (our previous landlord, for example, had let people in to our house for viewings and then sold the property while we were none the wiser)

Today after going to see a mortage advisor he basicaly stated - HA rent (for security). Part buy or Homebuy is all we can hope for.

So today I give up.

Please don't give up, you again illustrate why house prices are too high. Hang on in there and some sanity will return to house prices IMO. I am with you on lack of security of tenure for renting, it stinks.

ukcarper

ninky wrote: »

for goodness sake. when will this holier-than-thou approach to those who can't escape the clutches of overpriced private rentals to put a secure roof over their head stop?

so if you live in a shared house, eat value baked beans and have no social life, you might possibly just be able to get an interest only deal on some overpriced shoebox in a grotty area that you will spend the rest of your working life paying off?

this is not the society i want to live in. it's unbelievable that in the 21st century we can't offer each other a better quality of life.

The trouble is people want house prices to go back to pre hpi prices but are not prepared to act like people did then. The world has change over the last 30 years and to many people think they are entitled to what they want with out working or making sacrifices for it and most people want it now.

carolt

Tygermoth wrote: »

I am 37 yrs old, work hard. I had three jobs (lost two to companies going in to administration) My other half works min 50hrs overtime per month. We are in private rental (which PCM is well over and above the mortage amount for any home we would wish to buy)

We have no children, we have no social life. Every penny is used till it squeaks, but to get the required deposit would take so many years it would be not worth the effort as we would likely be too old to enjoy it.

All i can envisage is us living in this rental forever.

Why did we not start saving earlier i hear you ask? well there was uni, moves for careers, reduction in monies for training, a period of unemployment (during which our savings kept us afloat, as they should). When we finaly settled in our Jobs its too late. We both now will not consider a family as we cannot consider a rental as secure (our previous landlord, for example, had let people in to our house for viewings and then sold the property while we were none the wiser)

Today after going to see a mortage advisor he basicaly stated - HA rent (for security). Part buy or Homebuy is all we can hope for.

So today I give up.

Big hug.

Don't give up.

Try not to be too hard on yourself that you're (we're) all living through some pretty weird times economically, centring on overpriced housing (which let us not forget, is the root cause of all the global economic crap we're experiencing).

However, as an individual, you can choose to live your life as you wish. I'm a teeny bit older than you, and have 3 children. I've had them all in rented accomodation and yes, it is more insecure.

But hardly a reason to be without children. Children don't actually care whose name is on the deeds - they care that theyare loved. Given that you can afford to rent somewhere OK, does it really matter if you own it? In 10 years time, house prices might have fallen sufficiently that you can afford to buy - but at what personal cost, if you're then too old to have children?

I think families delaying having children, ignoring rigid biological cycles to fit in with indefinite financial cycles, has been one of the mopst tragic elements of the last decade of rising prices.

Home-owning is a pleasant luxury, but there are many parts of the world where the vast majority don't own and are perfectly happy.

Sod the housing market. A mortgage advisor may be able to dictate your housing situation - that's a little sad. But to let him dictate when and if you have children - that is very, very sad.

Don't give up. In the words of John Major (I think?): don't let the !!!!!!s get you down.

Best of luck.

ninky_2

ukcarper wrote: »

to many people think they are entitled to what they want with out working or making sacrifices for it and most people want it now.

i don't think someone who is 37, got themselves an education, and has been in full employment whenever possible, plus has a partner who has done the same, should have to go and live in a room in a shared house.

do you?

mitchaa

Tygermoth wrote: »

I am 37 yrs old, work hard. I had three jobs (lost two to companies going in to administration) My other half works min 50hrs overtime per month. We are in private rental (which PCM is well over and above the mortage amount for any home we would wish to buy)

We have no children, we have no social life. Every penny is used till it squeaks, but to get the required deposit would take so many years it would be not worth the effort as we would likely be too old to enjoy it.

All i can envisage is us living in this rental forever.

Why did we not start saving earlier i hear you ask? well there was uni, moves for careers, reduction in monies for training, a period of unemployment (during which our savings kept us afloat, as they should). When we finaly settled in our Jobs its too late. We both now will not consider a family as we cannot consider a rental as secure (our previous landlord, for example, had let people in to our house for viewings and then sold the property while we were none the wiser)

Today after going to see a mortage advisor he basicaly stated - HA rent (for security). Part buy or Homebuy is all we can hope for.

So today I give up.

Are you not worried that you are letting finances decide if you are to start a family?

lostinrates

mitchaa wrote: »

Are you not worried that you are letting finances decide if you are to start a family?

Goodness: its a common mantra that people have children irresponsibly! I have tremendous sympathy for Tygermoth, and while after reflection, I wouldn't consider rented accomodation a barrier to starting a family, I would consider not feeling financially well placed a valid deterant, and a commendable if tragically sad decision. For once I'm 100% with Ninky:D

i don't think someone who is 37, got themselves an education, and has been in full employment whenever possible, plus has a partner who has done the same, should have to go and live in a room in a shared house.

do you?

ILW

ninky wrote: »

i don't think someone who is 37, got themselves an education, and has been in full employment whenever possible, plus has a partner who has done the same, should have to go and live in a room in a shared house.

do you?

On the face of it I would of thought you could have bought your own place by now,if that is what you wanted. May be stuff earlier on I have missed though.

ukcarper

ninky wrote: »

i don't think someone who is 37, got themselves an education, and has been in full employment whenever possible, plus has a partner who has done the same, should have to go and live in a room in a shared house.

do you?

Nor would I but I can't see why a single person of 30 can't

Tygermoth

Ahh but if we can only afford the rent - no savings for a deposit how can we afford children? childcare? I could not stay home it could not be financially done.

So why have a child if i do not get to be a mother? or have a child that has a mother only part time?

Madly enough if we bought a house the outgoings would be lower (3 bed semi for half the PCM we pay) . It would be wildly irresponsible to have a child without as much security as possible (yes i know that bank repossess, and marriages fall apart and security can fall away)

Sigh, I see no answer.

Wow i am on a bit of a downer today... Sorry

chucky

carolt wrote: »

Big hug.

Don't give up.

Try not to be too hard on yourself that you're (we're) all living through some pretty weird times economically, centring on overpriced housing (which let us not forget, is the root cause of all the global economic crap we're experiencing).

However, as an individual, you can choose to live your life as you wish. I'm a teeny bit older than you, and have 3 children. I've had them all in rented accomodation and yes, it is more insecure.

But hardly a reason to be without children. Children don't actually care whose name is on the deeds - they care that theyare loved. Given that you can afford to rent somewhere OK, does it really matter if you own it? In 10 years time, house prices might have fallen sufficiently that you can afford to buy - but at what personal cost, if you're then too old to have children?

I think families delaying having children, ignoring rigid biological cycles to fit in with indefinite financial cycles, has been one of the mopst tragic elements of the last decade of rising prices.

Home-owning is a pleasant luxury, but there are many parts of the world where the vast majority don't own and are perfectly happy.

Sod the housing market. A mortgage advisor may be able to dictate your housing situation - that's a little sad. But to let him dictate when and if you have children - that is very, very sad.

Don't give up. In the words of John Major (I think?): don't let the !!!!!!s get you down.

Best of luck.

a very, very good post :T