FTB - What is realistic?

Rebob

Our local council has set up its own HA that buys cheap property which is then gutted and everything is done ie, wiring, heating, kitchen....... The houses are then available to anyone on a low income that has lived in the area for over 5 years. My brother is currently in the process of buying 50% of a house (100 year old terraced completely modernised). The figures for the example are £80,000 house=£40,000 mortgage and 50% rented. £40,000 mortgage is about £300pm and the rent, buildings insurance, management charge is £126pm. This lower outgoing payment means being able to get something worth buying with option to purchase more next year.