We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
FTB - first offer
Comments
-
Why bother asking people's advice and then just totally ignore it?
If it makes any difference, the letters after my name say MRICS. I'd like to think I have a reasonable understanding of the market. Would I touch a flat in Leeds at that price, on a shared ownership scheme? What do you think? Doesn't that tell you something.0 -
I think we've crossed wires somewhere.
I haven't ignored any advice given, I agree the flat is overpriced just not as much as some people are assuming having looked at similar properties and sold prices online. At the end of the day no one can value a property having not looked at it and compared with others in the locality.
It is NOT a shared ownership scheme, it is a scheme in which the govn lend the deposit allowing me to own 100% of the flat. The loan is free for the first 5 years, payable upon sale of the property. We would move again into a more long term home having saved more money by the end of this term. If not we stay and pay 1% interest on the loan.
Finally we earn £31,000 gross so can afford a mortgage of around £90,000. The deposit is the reason we are looking at this scheme.
I think there is a large amount of negativity towards any of these schemes, with no back up. No one has backed up what they are saying with any evidence just that it's a bad idea - why? As long as I get the price down I see no problem, again I agree it is way overpriced as it stands...0 -
Blacksheep1979 wrote: »If you can't afford an 80k mortgage between the pair of you (meaning you're on less than 15k salary each) there's no way you should be going for a 130-150k house on some part buy/shared ownership scheme.
Where did this come from? why do you assume this? If I couldn't afford a mortgage I wouldn't be getting one!0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.2K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.2K Work, Benefits & Business
- 600.9K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards