House Buying

Super_Ram

Hi All,

Just thought I would post on here as me and my girlfriend are looking to buy in the near future and are just trying to grasp what is needed.

Let me start by saying that I have just Completed an IVA with Full and Final Settlement after being in it for 2 Years and my Girlfriend has 2 Settled Defaults on her File from a couple of years back, so whether we want to or not, it looks like we will have a waiting game before we will be considered.

Also it looks as though in the current market, unless you have a 20% Deposit, you are unlikely to be considered.

And thirdly, it will be a joint venture with myself earning around 21K and Girlfriend 18.5K.

The house price we are looking for is between 90-100K.

At the moment we dont have any Deposit but are looking to save, so that could take a year or so.

So my Question is, alot of peple are saying its too early to buy as House prices will fall.

So I am wondering what I should do in my Position, save as quckly as possible and get on the Ladder, or wait and save more of a deposit and wait for house prices to drop even more

Cheers for any help

beecher

I'd save as much as you can, and look at where things stand in a year. Build your credit file and save save save - you're not in the position to buy now so just re-evaluate once you are.