First Time Buyers/Keyworkers No Deposit

RobertoMoir

Running_Horse wrote: »

I must have been mislead by the following:

First Time Buyers/Keyworkers No Deposit

Again, silly me.

No one helped me on the housing ladder, I did it myself with hard work and going without.

So that's your point of view flawed isn't it?

Silly you indeed. If you think the government is wrong to offer this sort of scheme to first time buyers or "keyworkers" then get angry at the people offering the scheme. There's nothing wrong with someone making use of all the facilities available to them in order to get on in life.

sandford6016

No ones complaining you bunch of retards! I was stating that idiots on here respond to a perfectly genuine thread with pathetic personal feelings and judgements. My god I hate the public!!

poppy10_2

sandford6016 wrote: »

My fiance and I have a joint income of £83k and would really like to move, but no-one is buying our 1 bed flat. We have barely any savings as we are also havnig to pay for our wedding coming up in December. Some people on here can't understand that and obviously believe that they should work hard all their lives to 'save' their money! I could get hit by a bus tomorrow and loose any savings, so why not live comfortably and enjoy life! People like us are penalised for having such a lifestyle.

:rotfl::rotfl::rotfl:

It was irresponsible lending to these kind of morons that led to the credit crisis.

Idiophreak

jamief wrote: »

You have a joint income of £83,000 per year. You have "barely any savings". Please; learn some financially responsibility.

They have "barely any savings" - "as we are also havnig to pay for our wedding coming up in December"

Did you just forget to read that bit?

Or did you just fancy posting something really unhelpful for the thrill ofit all?

The average wedding in the UK costs £20k+.

Even on this 83k joint, paying a mortgage with bills and so on, saving for a wedding (normally over 18 months or 2 years - around £1k per month?) *and* trying to maintain a decent lifestyle - not surprising they can't afford to save much toward a house...?

Please learn to read the whole post...

Wickedkitten

Idiophreak wrote: »

They have "barely any savings" - "as we are also havnig to pay for our wedding coming up in December"

Did you just forget to read that bit?

Or did you just fancy posting something really unhelpful for the thrill ofit all?

The average wedding in the UK costs £20k+.

Even on this 83k joint, paying a mortgage with bills and so on, saving for a wedding (normally over 18 months or 2 years - around £1k per month?) *and* trying to maintain a decent lifestyle - not surprising they can't afford to save much toward a house...?

Please learn to read the whole post...

He might be going from the other post this person put

Current mortgage: £115,000, property currently marketed at £129,950
Incomes: £46,000 (£63k+ with overtime) and £24,000
No bad credit or outgoings
Value of the new build 3 bed townhouse: £269,000 (hopefully they'll take a lower offer?)

Now, the tricky bit comes when you talk about our available deposit! We currently have £3,000 only in savings (and this was being set aside to pay for our £6,000 wedding in December). So, we need to make some profit on the sale of the flat. There is a possibility of borrowing or being given some money from our parents, maybe up to £20,000. From looking at various mortgage calculators on the internet, paying the mortgage will be no problem at all, it's just that we don't have a massive deposit in our pockets at the moment. Do we look at a bank loan to provide a deposit?

http://forums.moneysavingexpert.com/showpost.html?p=20603665&postcount=1

Idiophreak

Wickedkitten wrote: »

He might be going from the other post this person put

Fair enough, if that's the case. But I'm sceptical...

poppy10_2

Idiophreak wrote: »

Fair enough, if that's the case. But I'm sceptical...

Also £7000 of CC debt

biggurs

poppysarah wrote: »

As a taxpayer I'd like to say thanks for the opportunity to lend you money as such a low rate. NOT.

Actually, as tax payers we should be putting pressure on the government and complaining about the fact how they use our money to pay pensions to wan**rs like the ex RBS chairman not for people on the homebuy scheme. The homebuy scheme is actually making money. The government is actually using our money to help out people get on the property ladder and to make more money. If i was loaded, I would happily invest 30% of the value of someones house. In 10 years time, i'm bound to make a profit. That 30% equity share will be worth more. When was the last time the value of a house was less than it was 10 years before?

poppy10_2

biggurs wrote: »

The government is actually using our money to help out people get on the property ladder and to make more money.

Make more money? Where do you think that money comes from?

The only way they can 'make money' is if the price of their house goes up further - thus making it harder for future generations of first time buyers to buy a house of their own, defeating the purpose of the homebuy scheme.

LookingForward_2

My boyfriend and I looked at this scheme a couple of months ago, as we have no deposit at the moment but I was scared of owing a big loan to the government/builders, as well as paying back our mortgage. We unfortunately earn enough to be in the higher end of the eligibility for this scheme, meaning the loan would be a lower amount and so the monthly mortgage repayments were around £1,000pm+, leaving us not a lot to save for the loan repayment. I know a lot of people on here are expecting the equity on the property to pay for this but that would scare me even more, as things like that can't be guaranteed.

We have a good agreement on our rent at the moment (£475pm), so as much as we would like to be in our own home now, we think the best thing for us is to stay where we are and save for the full deposit ourselves. I'm thinking now that I may have worked out the calculations wrong, as everyone else seems to be very comfortable on this type of scheme. Were you paying high rents before, so the difference on moving to this scheme was worth it?

Thanks