First Time Buyers/Keyworkers No Deposit

Running_Horse

michael1983l wrote: »

First Time Buyers/Keyworkers No Deposit

That's where I went wrong. Silly me, working for a profit making company on low wages. Should have had my snout in the trough of the public sector, getting housing subsidies. What makes you think you are more key than me?

michael1983l

Running_Horse wrote: »

That's where I went wrong. Silly me, working for a profit making company on low wages. Should have had my snout in the trough of the public sector, getting housing subsidies. What makes you think you are more key than me?

I am not a key worker, so that is your point of view flawed isn't it.

I qualify as a First time buyer. People with houses already don't exactly need help getting on the housing ladder do they?

Running_Horse

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?

poppysarah

michael1983l wrote: »

What would you prefer, the housing market to completly collapse due to the lack of first time buyers?

If the housing market was not allowed to inflate at an unsustainable rate in the first plce then this would never have happened. This is down to Labour's encouragment of lending and Landlords greed at buying mutiple properties and raising demands way beyond its means. Forcing prices up and first time buyers out. #In my lifetime I have paid more than enough tax, i'm in my mid 20s and I can tell you have have paid over 50k in advertised tax without ever claiming benifits. I think I am entitled to my share of government help thank you.


I havn't included stealth taxes and VAT into that either. Just income tax and NI

Yes I do think the property market should be allowed to collaspe. Maybe the banks and governemtn would actually have to consider the consequences of their actions then.

House prices are insane and buying into the equity share nonsense makes it carry on longer.

michael1983l

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?

Did house prices rise at a rate 4 times higher than inflation over a 10 years period yearly during your time?

And for your future reference / means or

Running_Horse

poppysarah wrote: »

Yes I do think the property market should be allowed to collaspe.

If the market "collapses" (I think you mean "corrects") then more people will be able to afford 100% ownership, without the need for handouts from taxpayers. The sooner Grodon Brown stops showering our money round those who haven't earned it, the better off we'll all be.

Swinstie73

pinkshoes wrote: »

Those who are incapable of saving a deposit shouldn't be buying a house, and are a much higher risk of repossession.

Can I just say that I bought my house six years ago with only a 3% deposit, which I took a loan out for and have absolutely no problem paying my mortgage (oh and the loan is paid off) and it will never be repossessed cos I make my payments on time and have an excellent credit rating thanks very much! And my house is now worth triple what I paid for it. No wonder people can't get on the property ladder when they expect 20% deposits.

Michael, well done for getting on the property ladder!

Running_Horse

michael1983l wrote: »

Did house prices rise at a rate 4 times higher than inflation over a 10 years period yearly during your time?

And for your future reference / means or

Yes. I bought towards the end of the last property bubble, with everyone telling me to buy now or never get on the ladder. But I did it without handouts, and never complained about the negative equity, or rising interest rates (something you will probably see very soon). Stop suckling at Gordon Brown's teat, and act like a man.

Wickedkitten

michael1983l wrote: »

Wrong, how can I save for a 20k deposit whilst i'm paying private rent worth more than what my mortgage payments are now?


Also if I choose to pay up in 3 to 5 years I can choose to pay back the original ammount. Really I will have made money because 5 years worth of interest on 40k at 5.99% is worth quite a bit.

So you can't afford to save 20k renting but you can afford to pay off 40k in 5 years?

Is the 40k your 35% share?

michael1983l

Wickedkitten wrote: »

So you can't afford to save 20k renting but you can afford to pay off 40k in 5 years?

Is the 40k your 35% share?

Yes as investments mature at that point.