3x income

ess0two

Cleaver wrote: »

Are you asking this as a moral question or a financial question? Everyone should have a right to a lot of things: good education, decent jobs, happy personal life, good health. Do we all have these rights? Well that's a more complicated question as they are a huge number of variables.

When I want to do anything (buy a house, go on holiday, go out and eat dinner, go on a date, travel the world) there are factors and aspects that I am in 100% control of to get to these goals. Then there are external factors that I have no control of. For example, getting a degree. I can save the money and pick a Uni that accepts my 'A' Level results. But what if thousands also want to do my course and the grades get higher? Well, whilst thats not really fair, that's life. And out of my control. So I'd think of other options: get more qualifications, try again, try different unis, go and plead, think of doing another qualification, plan b, plan c...

The couple in the example need to adapt. Get better jobs, save some money, move to a very cheap area. If they want to buy a house then they need to do something to change the situation. If they can't do this then they can't buy a house. I know I sound harsh, but that's the way it is, isn't it?

In a nutshell well put.

nickmason

lostinrates wrote: »

http://www.uklandandfarms.co.uk/search/details.asp?Prop=748640&Firm=16531&Branch=8&Sys=A&rm=50722_CAM081486

I would whinge at that one.

I'll take one of the cottages...oh damn, you said you didn't want to be a BTL LL. Shame, I reckon I'd doff my hat well to live in such grounds...

lostinrates

whathavewedone wrote: »

One of my friends moved from a tiny 2 bed cottage in Chiselhurst (you'll be telling me that's deprived next) to a 5 bed grand Victorian house. Her husband has a hideous commute to London every day but they have 3 kids and one income of 30k so something had to give. They bought at the peak in Autumn 2007 for under 250k, incredibly cheap for a house of that size even then.
.......

I agree with your post but this interested me. Its an impressive buy, but if something had to give why go for a large victorian house with at least one bedroom they don't need? It does sound like a bit of a bargain, but were there less impressive four beds available more cheaply that would have taken even more pressure off? it just strikes me this is n interesting anecdotal.

This price being ''incredibly cheap for a house of that size even then'' ...do you know what sort of price these houses are getting now, as amatter of interest?

MrsE_2

thepeachyone wrote: »

They should look into the shared ownership schemes offered by housing associations. We are in a similar position, though our income is higher, not all of it is taken into account by lenders. We have found our dream house through a housing association.

I'm not so convinced these are great schemes.
Get a mortgage to the max you can afford, spend x years paying it off & those same x years paying ever increasing rent on the portion you couldn't afford to buy.
Then when you have paid it off (say 25 years), but the other half/third AT FULL PRESENT MARKET VALUE:eek:

olly300

pawpurrs wrote: »

Actually it would with a 10% plus deposit, plenty of nice FTB propertys, in nice villages and in towns like Hastings, Maidstone, medway towns, Ashford etc?

Not useful if the job is in say Surrey, Hertfordshire or West London. Even if you are willing to commute that far and lots of people in the SE do, if 2 of you are doing low paid/"normal" wage jobs you can't buy a place and afford to work.

pawpurrs

MrsE wrote: »

You can get a house for £127,000 in the Medway can you?

The ONLY part of the UK in the south east that could be classed as deprived I think, Hastings & the Medway.
Interesting all those places are in Kent the cheapest area in the south east & the worst for commuting into London from (I guess that has a lot to do with its cheapness).

I don't believe you can get a house in any nice villages for £127,000.

I don't believe there is a normal (not shared or retirement) in the whole of Surrey for £127,000 or less.

http://www.rightmove.co.uk/property-for-sale/property-21651115.html?locationIdentifier=REGION%5E1133&pageNumber=4&backToListURL=%2Fproperty-for-sale%2Ffind.html%3FlocationIdentifier%3DREGION%255E1133%26index%3D30

A very nice village and a lovely period cottage for under £127,00 and it doesnt need much spent on it either!

pawpurrs

olly300 wrote: »

Not useful if the job is in say Surrey, Hertfordshire or West London. Even if you are willing to commute that far and lots of people in the SE do, if 2 of you are doing low paid/"normal" wage jobs you can't buy a place and afford to work.

The arguement was that you couldnt buy ANYWHERE in the southeast, and I have just proven otherwise, dont move the goalposts to surrey now, as I cant be bothered to look and see whats there.

MrsE_2

pawpurrs wrote: »

http://www.rightmove.co.uk/property-for-sale/property-21651115.html?locationIdentifier=REGION%5E1133&pageNumber=4&backToListURL=%2Fproperty-for-sale%2Ffind.html%3FlocationIdentifier%3DREGION%255E1133%26index%3D30

A very nice village and a lovely period cottage for under £127,00 and it doesnt need much spent on it either!

It says in need of total modernisation throughout

Also I work in Reigate, I think it would take me a couple of hours or more to get to work, DH works in London & DD works in Horley.

There is a lot more to the south east than cheaper parts of the south coast (Hastings, Margate, Medway areas).

MrsE_2

pawpurrs wrote: »

The arguement was that you couldnt buy ANYWHERE in the southeast, and I have just proven otherwise, dont move the goalposts to surrey now, as I cant be bothered to look and see whats there.

There are one or two pockets of "cheaper" areas (remember it said in need of total modernisation throughout).

These cheaper areas are in the few areas of high unemployment too.

This however does not mean for the vast majority of people in the south east there is affordable housing.

pawpurrs

Rubbish that village is 20 minutes to Tunbridge wells, I have been inside it, and its not half bad, look the arguement was there was no where in the south east that you could buy for under xx all I am saying is that is rubbish, there are other properties in the villages at under that too. If your earning minimum wages then it has allways been the case that you couldnt afford to buy.