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How will iever get on property ladder?
tschic
Posts: 16 Forumite
Removed after reply - dont need flippantly unhelpful comments.
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Comments
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Clear the debt.
Save a deposit.
Get a mortgage.
It's the same for everybody.0 -
Is this the supposedly "flippantly unhelpful comment" because it looks bang-on for just about any scenario to me? :Topinions4u wrote: »Clear the debt.
Save a deposit.
Get a mortgage.
It's the same for everybody.I am a mortgage broker. You 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. Please do not send PMs asking for one-to-one-advice, or representation.0 -
To paraphrase what the original post said:
"I'm 40, I'm in debt, how will I ever get a mortgage, it seems impossible".
OP, I'm sorry that you consider my reply unhelpful. But I have simply tried to break down the steps needed from where you are now to where you want to get to.
If you need help with managing your finances try www.makesenseofcards.co.uk and the Debt-free Wannabe part of this forum.
Before the Credit Crunch most lenders offered upto 95%-97% mortgages. Today most offer upto 85%-90% mortgages. So the extra deposit needed is slightly more. But house prices are around 10%-15% lower than 3 years ago - so what you have to commit on one hand is actually saved on the other.0 -
What is it with people who keep deleting their original posts because they don't like the help / advice being offered??0
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What is it with people who keep deleting their original posts because they don't like the help / advice being offered??
Maybe what the OP wanted to hear was that 100% mortgages will be dealt out willy nilly to anyone regardless of credit worthiness so every man and his dog can buy their own house and get on the fabled "property ladder"
Well it's not going to happen so take the advice already given, work to clear your debts, save as much as possible and forget about the "property ladder" it doesn't exist.Debt Is Slavery.0
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