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FTB- should I give up?
2ptphillips
Posts: 3 Newbie
Currenty getting paid £17700pa and have found a property for £40k needs some work so would need £45k.
Bassically I don't have any money, work hard, pay my rent and bills and whatever I have left I have just enjoyed spent down the pub or on fun things.
So I seem to be in a situation where I have found this place would like to purchase it but I don't have any sort of deposit. Is there anyway I could get this sort of money just based on my income. I think my totaly debt is £850 on a credit card. I work for a large international company, have been with them over 8years.
Should I just give up, try and save something and hope another house comes along which I could afford. I very frustrated as this house seems to be ideal.
Bassically I don't have any money, work hard, pay my rent and bills and whatever I have left I have just enjoyed spent down the pub or on fun things.
So I seem to be in a situation where I have found this place would like to purchase it but I don't have any sort of deposit. Is there anyway I could get this sort of money just based on my income. I think my totaly debt is £850 on a credit card. I work for a large international company, have been with them over 8years.
Should I just give up, try and save something and hope another house comes along which I could afford. I very frustrated as this house seems to be ideal.
0
Comments
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Without a 10% deposit you really have no chance, and even with 10% you may well struggle.
Save and then look againI am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Why look for a house when you have no deposit? You are only going to keep frustrating yourself.
You need to save a deposit, and for fees and costs. About £6k, probably.
Clear your debt while saving.
Any fun things left that you can sell?Act in haste, repent at leisure.
dunstonh wrote:Its a serious financial transaction and one of the biggest things you will ever buy. So, stop treating it like buying an ipod.0 -
Great reply thanks now I know what I should be looking at doing.0
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