First time buyer wonderings!

angeldeelite

Dead_Eye_Jones wrote:

dont be in a rush, take your time and keep saving up that deposit and working hard. As your deposit rises and your salery increases you will find yourself in a stronger and stronger position. Took me about 5 years to get there but was worth it, enjoy the freedom of renting in the mean time

i know your right, sometimes feel so under pressure to own somewhere but i'm still pretty young so i suppose waiting a couple of years is no big deal. my boyfriend is going to uni to do a course in estate management so he has property on the brains constantly - think its rubbin off on me.

thanks for all advice

ctabuk

I really am very dissapointed with these replies. There is no 5 year rule on debt. Statute of Limitation is 6 years and One Day - But that only applies if the Debtor has remained in public view and that the debt pursuer has failed to take the appropriate actions to regain monies owned. Quite simply if your boyfriend is subsequently named on a Mortgage Deed and that name is searched by an interested party then they can still gain access to the Court and at the very least impose a second charge.

angeldeelite

ctabuk wrote:

I really am very dissapointed with these replies. There is no 5 year rule on debt. Statute of Limitation is 6 years and One Day - But that only applies if the Debtor has remained in public view and that the debt pursuer has failed to take the appropriate actions to regain monies owned. Quite simply if your boyfriend is subsequently named on a Mortgage Deed and that name is searched by an interested party then they can still gain access to the Court and at the very least impose a second charge.

he went to a debt advisor through the council and she told him he should just hold out for the 5 years. she said as long as he hasn't been in touch with them in this time it becomes void. (we're in Scotland so think thats why it's 5 years).