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joop
Posts: 144 Forumite
Some friends I know need to get on to the property ladder and some views/advise would be really helpful.
They are in their early 20s, stable relationship, baby on the way. Currently living with parents.
He has good earning power (self employed), she is a hard worker at the beginning of a career which can be resumed after however long she needs to take off for the baby.
No savings. Either are unlikely to have great credit score.
They are looking at shared ownership, but is this the best way to go?
Any views?
They are in their early 20s, stable relationship, baby on the way. Currently living with parents.
He has good earning power (self employed), she is a hard worker at the beginning of a career which can be resumed after however long she needs to take off for the baby.
No savings. Either are unlikely to have great credit score.
They are looking at shared ownership, but is this the best way to go?
Any views?
0
Comments
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Live with parents and don't have any savings.
They need to look at their expenditure and why they haven't yet saved.
They need to save.0 -
I would really love to see this concept of the "property ladder" die out, I'm sure it is resposible for twisting the way the British view their homes, especially this idea that we all have to jump onto it as soon as possible (if not sooner) and then spend our lives leveraging debt to live in ever bigger houses!
There is no "need" for them to buy a house straight away, or even for many years yet. I would suggest they find somewhere to rent that is as affordable as possible and start the process of saving up as large a deposit as they can.
In the meantime hopefully they will relax, enjoy life and their new baby.0
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