You can not afford to buy a house if...

Cubbington

I understand and agree with some points (can't afford rate rise, only interest paying mortgages) but the others are slightly unjustified. If I was lucky enough to be given a deposit then why shouldn't I get a house? And whilst I probably wouldn't want to go over 25 years I would if needed to.

I think the point should be that people who can't manage their finances shouldn't be given stupid amounts of money by the banks. It's gutting for me that my rent is effectively the same as what a mortgage payment would be yet I'm going to have to wait to save a deposit (which I'm doing).

You're entitled to your opinion but I don't think you can set in stone criteria for people not buying houses.

HAMISH_MCTAVISH

poppysarah wrote: »

Are you a banker?:rotfl:

No, but even a banker has better morals than to try and exploit child poverty in a pathetic attempt to make a case for another crash.

As you did....

HAMISH_MCTAVISH

Cubbington wrote: »

It's gutting for me that my rent is effectively the same as what a mortgage payment would be yet I'm going to have to wait to save a deposit (which I'm doing).
.

You're being forced to enrich your landlord.

Buying a house is hard enough already..... You shouldn't be forced to also buy a big chunk of a house for someone else.

WelshNic

Cubbington wrote: »

You're entitled to your opinion but I don't think you can set in stone criteria for people not buying houses.

^^Absolutely.

Although it is rather amusing to see how some posters think they know everything there is to know about everybody else's personal circumstances and what is best for them

whatyadoinsucka

saraP is it if you fail all 7 factors, as i went for a 30 year mortgage 2 years ago..
on a variable tracker massively overpaying i may add !!

think before you write !

poppysarah

HAMISH_MCTAVISH wrote: »

Buying a house is hard enough already..... You shouldn't be forced to also buy a big chunk of a house for someone else.

Like shared ownership scams?

shortchanged_2

whatyadoinsucka wrote: »

saraP is it if you fail all 7 factors, as i went for a 30 year mortgage 2 years ago..
on a variable tracker massively overpaying i may add !!

think before you write !

More luck than judgement on that one whatyadoinsucka.

shortchanged_2

HAMISH_MCTAVISH wrote: »

*sigh*

Prices are where they are because supply failed to keep up with demand. No other reason.

You forgot to mention that the demand was fueled by the lax lending practices of the banks.

Hence the reason why there are now very few house sales because the banks are not lending and there will eventually be continued downward pressure on house prices as long as the banks maintain this much needed strict lending practices.

Gwhiz

shortchanged wrote: »

You forgot to mention that the demand was fueled by the lax lending practices of the banks.

Hence the reason why there are now very few house sales because the banks are not lending and there will eventually be continued downward pressure on house prices as long as the banks maintain this much needed strict lending practices.

Hamish has a very simplistic view of life.

brit1234

poppysarah wrote: »

• You have to have a gifted deposit.
• You whinge about not being able to afford stamp duty
• You extend the mortgage term over 25 years.
• You can afford it on the fixed rate but not if it went up.
• you can't save a deposit yourself
• you are looking at interest only mortgages
• you can only afford to be a % of a property

Fully agree on above. You see lots of people on this forum obsessed with buying now in any way possible intentionally ignoring the ramifications or ignorant to them.

At least the banks are less willing to lend to them now, even shared ownership mortgages have near disappeared.