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

dorset_nurse

Some people don't need to prove for 12 months they are reliable.
I would be a bit miffed getting turned down for my first mortgage because I had only been working full time for one month!

lilab_2

mlz1413 wrote: »

I see nothing wrong with parents/relatives helping out with deposits but these are not part of the gifted deposits that I believe OP is pointing to.

I have an interest only mortgage and I use so I can overpay when I want and how much I want - but I agree that if I could not be considered for a repayment mortgage then I would not be in the right position to take on a long term financial commitment.

50 years ago you had to save for one year the value of the mortgage you wished to apply for before you could get an interview with a mortgage advisor. I'd love to see this come back! what is wrong with proving for 12 months that you are responsible enough to take on a 25 year commitment?

Not sure I understand this one. If you saved for one year the value of the mortgage, surely you would have the price of the house!? And what starts out as a 25 year commitment doesn't necessarily have to be that long. It can change as you move up and down the ladder. Also circumstances change as do people.

My grandfather bought his house for £1000 in 1940. He borrowed every single penny of that from a friend. Counted out the £1 notes in his kitchen, found he had £1 too much, took it back to the friend and then repaid her the money over an agreed period of time. People have always got help to get on the ladder. Still don't understand why Poppysarah seems to want everyone to be stuck in rented accommodation, subject to living under someone else's rules and regulations. Very hard to form a family home when you may not be permitted to re-decorate, or have a pet. Having to wait for someone else to be bothered to sort out holes in walls, mould growing where it shouldn't be, battered old windows that should be repainted or replaced, must be very demoralising.

But that's just my opinion.

The_Blue_Hatter

lilab wrote: »

Still don't understand why Poppysarah seems to want everyone to be stuck in rented accommodation, subject to living under someone else's rules and regulations. Very hard to form a family home when you may not be permitted to re-decorate, or have a pet. Having to wait for someone else to be bothered to sort out holes in walls, mould growing where it shouldn't be, battered old windows that should be repainted or replaced, must be very demoralising.

But that's just my opinion.

Because she is jealous she cannot afford to get on the ladder possibly?

WelshNic

lilab wrote: »

must be very demoralising.

Does explain a lot of the attitudes on here though!

IR_Fudger

The_Blue_Hatter wrote: »

Because she is happy she did not overspend to get on the 'snake' possibly?

Corrected for you

Although for a site that prides itself on saving money, there are many here who rejoice in high prices! Nowt strange as folk eh.

WelshNic

^How tragic.

HAMISH_MCTAVISH

The_Blue_Hatter wrote: »

Because she is jealous she cannot afford to get on the ladder possibly?

Spot on.

It's all so transparent...... :cool:

Humphrey10

poppysarah wrote: »

Buying a house is the most serious financial decision a person has to make. To allow them to absolve themselves of all financial committment in the run up to this process (ie: saving a deposit) is utter madness.

If you can not save a deposit then you will not save for the ongoing repairs and maintenance of your house.

I think a mortgage is a financial commitment personally, even if the deposit is not taken into account. Anyway, everyone needs to buy a house unless they want to give up and resort to renting and being at the whim of a landlord for the rest of their life, so the only choice is which house, not whether to buy or not.

I can save for a deposit, I just see no reason too when I can buy now with a gifted deposit. Why wait? How would I possibly gain from waiting? The money that I would otherwise use to save for the deposit can go towards repairs and maintenance if needed.

Wickedkitten

The_Blue_Hatter wrote: »

Because she is jealous she cannot afford to get on the ladder possibly?

IIRC PoppySarah doesn't have a mortgage because she bought her house outright.

dorset_nurse

Wickedkitten wrote: »

IIRC PoppySarah doesn't have a mortgage because she bought her house outright.

So what if she did; she wouldn't be the only one on this forum.
-Noone cares.
However it seems that she is the only one making blanket statements about how others should live their financial lives.
-Now a lot of people care!