First time buyer- mortgage help

leemuddywaters

beecher2 wrote: »

Well it is an open forum so people will always post other information they think is relevant. The OP isn't under any sort of compulsion to follow anyone's advice and her best bet is to go to see a mortgage adviser to be given professional advice.

Fair Comment..

Peeler

Don't worry- I understand that this is an open web forum so I won't base my decision on the most significant financial comittment of my life soley on what you have posted!

With the exception of opinions4u's first post (which I think was unfair), this thread has been very useful- thank you for taking the time to respond to me.


Just to put a few of things straight...

-Once again, opinions4u, I did not say that I 'expect' someone to give me a mortgage.

-Part of the deposit is from the bank of Mum and Dad, yes.
- I think I have demonstrated the ability to budget. I rented for 3 years when I was a student.
-I think I have demonstrated the ability to save. I have lived and worked abroard and saved enough to pay part of a deposit.
-leemuddywaters, you're right- I don't need relationship advice. But I have lived with my boyfriend before so nobody needs to worry about that.

I graduated 2 years ago, have been with my boyfriend for 6 years and I'm conscious of not wasting money on rent when the next three years at least seem very solid. I have the support of 2 sets of parents and my boyfriend's job is completely secure as he works in his family business. Perhaps you can understand why I was asking for mortgage advice?

However, I appreciate that in 'austere times' I need to be certain that I'm not rushing into anything. I'll probably delay purchase of a house by a few months until I'm settled in my job.

So thanks again for your advice. :T

ILW

leemuddywaters wrote: »

Yes of course it is, but she asked for mortgage advice not relationship advice..

How do you know the OP is a "she"?

JimmyTheWig

You've been given good advice on here (I know opinions4u sounded slightly harsh, but I think the essence of what he was saying was correct) and it's pleasing to see that you're taking it on board. [So often we get this sort of thread and the OP comes back saying they're going to go ahead anyway!]

My own 2p's worth...
1. Is your job the sort where the pay will increase fairly rapidly? If so, waiting before getting a mortgage will benefit from this.
2. If you don't want to throw money away renting then rent as cheaply as possible. That generally means a room in a shared house (unless staying at home is an option, at least for a little while).
3. You probably don't want to think about this, but how many "family businesses" have gone down the pan in the last 12 months? How many more are likely to in the next 12 months? It's not that he's going to get sacked, but if the business folds then your BF is out of work.
4. Generally, the more attractive you can make yourself to a mortgage company (e.g. bigger deposit, bigger income, longer time in employment) the more companies will want to give you a mortgage, which should mean you get a better deal. This will probably be more significant than any house price rise in the next 6-12 months.

JimmyTheWig

ILW wrote: »

How do you know the OP is a "she"?

A fair assumption given the balance of probabilities. Someone with a boyfriend is likely to be female.

ILW

JimmyTheWig wrote: »

A fair assumption given the balance of probabilities. Someone with a boyfriend is likely to be female.

Possibly a dangerous assumption.

Wutang_2

JimmyTheWig wrote: »

A fair assumption given the balance of probabilities. Someone with a boyfriend is likely to be female.

How you working that out then The Wig?

Wutang_2

Peeler wrote: »

Don't worry- I understand that this is an open web forum so I won't base my decision on the most significant financial comittment of my life soley on what you have posted!

With the exception of opinions4u's first post (which I think was unfair), this thread has been very useful- thank you for taking the time to respond to me.


Just to put a few of things straight...

-Once again, opinions4u, I did not say that I 'expect' someone to give me a mortgage.

-Part of the deposit is from the bank of Mum and Dad, yes.
- I think I have demonstrated the ability to budget. I rented for 3 years when I was a student.
-I think I have demonstrated the ability to save. I have lived and worked abroard and saved enough to pay part of a deposit.
-leemuddywaters, you're right- I don't need relationship advice. But I have lived with my boyfriend before so nobody needs to worry about that.

I graduated 2 years ago, have been with my boyfriend for 6 years and I'm conscious of not wasting money on rent when the next three years at least seem very solid. I have the support of 2 sets of parents and my boyfriend's job is completely secure as he works in his family business. Perhaps you can understand why I was asking for mortgage advice?

However, I appreciate that in 'austere times' I need to be certain that I'm not rushing into anything. I'll probably delay purchase of a house by a few months until I'm settled in my job.

So thanks again for your advice. :T

I would dump him, sounds like the family are taking over your life.

6 years of pain?

Good luck with it all - but always remember: you are both equal in a 'modern relationship'.

JimmyTheWig

Wutang wrote: »

How you working that out then The Wig?

Because the majority of people are straight.

ILW wrote: »

Possibly a dangerous assumption.

I don't see how it is dangerous at all. It may be wrong, but the person who made the assumption (not me, btw) didn't base anything on the fact that the OP was female. All they did was use a pronoun.

ILW

JimmyTheWig wrote: »

I don't see how it is dangerous at all. It .

When you get that husky voiced phonecall saying "why dont you come round this evening and bring a bottle of wine, the boyfriend is away". Thats when it could get dangerous.