First time buyers in London

Doozergirl

Why on earth would a couple earning £84k a year expect government support to help them buy? There's a gulf between people like you and 'immigrants with 10 children'.

If you are serioius then I suggest you re-adjust your expectations - government help is for people that need it, not for people who want a garden and two beds in Central London.

Move out a bit - that is what public transport is for. You can buy plenty of nice places for less than £300k in any place in the entire country except several square miles of London. I live 120 miles away and I can be standing in the centre of London within 90 minutes - sooner if I moved closer to the mainline station.

I was happy with what we had in London, but I'm much happier where we are now. Shock horror, those of us who don't live in London still have earning power.

If the three parties were thinking of ways to give you a bump up the property ladder because you're 'poor' for where you want to live then they'd have a really skewed view of reality.

TerryTibbs05

sooz wrote: »

Perhaps the real moan is, that unlike many of their friends, mum & dad won't actually buy them their first place in Fulham outright.

They might be forced to look....ummm............south of the river:eek:

I'm not moaning nor saying i'm hard done by, i'm aware that it may take time to buy in london, i'm a first time buyer with not much knowledge of the ins and outs of the full requirements to purchase a property in london. As for my parents they live in a council house

Doozergirl

TerryTibbs05 wrote: »

As for my parents they live in a council house

Presumably then they were born in a different country and you have nine siblings?

lynzpower

TerryTibbs05 wrote: »

I'm not moaning nor saying i'm hard done by, i'm aware that it may take time to buy in london, i'm a first time buyer with not much knowledge of the ins and outs of the full requirements to purchase a property in london. As for my parents they live in a council house

They live in a council house and you are going cap in hand towards your deposit when you earn 84!!!!!

I cant believe what Im seeing

Crikey.

Mum_of_3_3

On £84k you should be able to save at least £35k in a year surely?!

Believe me £84k is not a low combined wage, not even for London. Stop whining and buy in a cheaper area and move to Fulham when you have increased either the capital or your wages, or save like there's no tomorrow (no going out, no new clothes etc) and buy somewhere in Fulham this time next year.

M_o_3

PS If my partner & I were on £84k I would think I'd won the lottery

Kimmy2309

Where are you looking? We rented in Wimbledon for 5.5 years and have just bought a lovely 2 bed flat in Worcester Park for £262000. Our deposit wasn't huge either at £40k. I think it depends on where you want to live as well. We could never have afforded a 2 bed place in Wimbledon but move just 5-10 minutes down the road and its more affordable.

Jowo_2

TerryTibbs05 wrote: »

In reality, we will be calling on our parents help to get a decent deposit and may have to make sacrifices in terms of property and location i.e. we're looking for a 2 bed with outdoor space but could sacrifice the out door space etc.

rather than scrounging off your parents who live in social housing, have you thought of 'making do' with a 1 bedroom flat and/or location other than one of the most expensive spots in London?

few people in their twenties would expect a 2 bedroom property with outside space in Fulham as their 'starter' home...

googler

What do you get for your £300k in London?

A flat, with 1 or 2 bedrooms?

Why not move away from London, to a place where £300k gets you a 4 or 5 bed detached house with double garage and front and rear gardens? (on a decent, recent-build estate....)

Mum_of_3_3

TerryTibbs05 wrote: »

I thought in 2 yrs 35k isnt bad at my age after student debts etc, but there you go...

In reality, we will be calling on our parents help to get a decent deposit and may have to make sacrifices in terms of property and location i.e. we're looking for a 2 bed with outdoor space but could sacrifice the out door space etc.

I think its just annoying that house prices continue to grow in london and it is dramatically different to the rest of the country. I maybe being too ambitious at 26 to buy based on the average age of a FTB (particularly in london)

Woah! I never saw this before I posted first time. If you were my child and I knew you were earning £84k between you and wanted to use my hard earned savings to buy a house in Fulham whilst I was in social housing you'd soon be told where to get off! After all I guess your parent's don't earn a lot to be able to gift you a big deposit or they wouldn't be in social housing... would they?

Also, the housing market isn't really that different to the rest of the country, especially here in the South-West. House prices here may be lower than in London, but so are the wages If you feel it's so hard to buy in London then why don't you move up out, take the pay cut that ensues and buy a house? No didn't think you'd want to

Sorry if I sound angry, but you have to realise that you are earning good money, there are loads of people in London earning far, far less than you and they manage to buy by buying smaller or cheaper and moving up the 'ladder'.

Also, I bet you won't complain when you retire to the country with the capital you've built up in London and make house prices in the village you buy, out of the reach of people who have grown up there (and probably had to live on a quarter of what you earn) :mad:

M_o_3

Running_Horse

I left London 24 years ago because I would never be able to afford anything. Wouldn't go back if you paid me.

According to Rightmove there are 75 two bed properties within one mile of Fulham in the price rang £250K - £300k. That rises to 241 when you include one bed properties.

As other have suggested, maybe you are being a little fussy.