How do you get on the property ladder?!

Pee

Could you aspire to a higher paying job?

As for saving the money for a deposit, if you worked out how much the repayments would be on a 85k mortgage at 8% and then deducted the rent you actually pay from this, then save the remainder as you would have to be able to do this easily to seriously consider the mortgage.

I want to buy a house in the area I live, but knowing that I would also like to have children, I don't feel I am in the right financial position to do this and we would have a similiar household income to you if we had children.

The answer has to be you save for it, and you might not do it.

Good luck, I hope things improve for you soon.

Running_Horse

The only other thing I could suggest is that things go in cycles, and for all the current promises of probity, the 100% mortgage will return one day, probably when prices are about to rocket again. Any little you can save now will make a difference when the time comes.

GDB2222

Bit of background, Me and Hubby have 2 kids and 2 step kids (live with their Mum) and currently rent from social landlord. Hubby been on 3 day weeks since January, my Ex partner (my kids dad) ....

I'm really sorry, but I haven't been able to work out which kids live with you and which live with their mum? Are these your partner's kids? Does he have to pay maintnance for them?

As for saving the money for a deposit, if you worked out how much the repayments would be on a 85k mortgage at 8% and then deducted the rent you actually pay from this, then save the remainder as you would have to be able to do this easily to seriously consider the mortgage.

You need to add in the other costs met by a landlord, such as repairs and insurance. Saving this money would mean that eventually enough is saved for a decent deposit, but it might take a long time.

Britbabe, do you currently do your own internal decorations? Who is responsible for replacing things like carpets?

britbabe1979

GDB2222 wrote: »

I'm really sorry, but I haven't been able to work out which kids live with you and which live with their mum? Are these your partner's kids? Does he have to pay maintnance for them? My 2 kids live with me, and my hubbys 2 live with their mum, we pay maintenance for them but my kids dad lost his job December 08 so we receive £5 a week from him!!! (Its confusing I know!! lol)


Britbabe, do you currently do your own internal decorations? Who is responsible for replacing things like carpets? Internal decor and furnishings are our resonsibility, so carpets, curtains, furniture and appliances all ours to repair and replace, all bills are ours too, we basically rent the shell of the house and get nothing else included.

Running Horse I am hoping that time comes soon!! Lol I guess the only good thing is that when we do buy it will probably be at the lowest price it will be for a while.. although it [STRIKE]could[/STRIKE] will be years before we manage to save £20k we need to get started!