First time buyers...options

ryan_u89_2 · 24 May 2011 at 4:26PM

Hello

I am currently privately renting, and have been for a year now. I feel as though it is money down the drain.

I am looking for a two bed place and wondering if anyone has any advice for getting a mortgage.

Is the part buy part rent worth a try. Also, I may qualify for key homes, are they worth it if available?

Myself and my partner bring home about 38k a year together

Thanks in advanced.

Ryan

Lokolo · 24 May 2011 at 4:29PM

Have you saved anything for a deposit yet??

ryan_u89_2 · 24 May 2011 at 4:49PM

Some but what would you say would be a starting point for a deposit?

Lokolo · 24 May 2011 at 5:03PM

10-20%. The more deposit you get, the cheaper the mortgage is going to be.

powerwin · 24 May 2011 at 5:05PM

ryan_u89 wrote: »

Some but what would you say would be a starting point for a deposit?

At least 10%, you'll probably need more in today's market.

Shared ownership needs careful research as there are more issues than just buying by yourself.

Rgds

First time buyers...options

Comments

Confirm your email address to Create Threads and Reply

🚀 Getting Started

Categories

Is this how you want to be seen?

Get our FREE Weekly email full of deals & guides - and it’s spam-free