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desperate_desperado wrote: »I want a mortgage!
and I want a rich toy-boy but that ain't gonna happen either :rotfl:0 -
your gonna to have to pull your belt in and save, my husband earns around the same as you but we have 3 kids, we can save roughtly £500 a month if we don't get sidetracked by things we want and don't acually need, in theory (according to the budget planner on here) we have £800 spare a month, my rents more than yours so it is do-able
no-one will give you a mortgage until your save a deposit it's slow going but if you stick at it and really want it you will manage it one dayDEC GC £463.67/£450
EF- £110/COLOR]/£10000 -
your gonna to have to pull your belt in and save, my husband earns around the same as you but we have 3 kids, we can save roughtly £500 a week if we don't get sidetracked by things we want and don't acually need, in theory (according to the budget planner on here) we have £800 spare a month, my rents more than yours so it is do-able
no-one will give you a mortgage until your save a deposit it's slow going but if you stick at it and really want it you will manage it one day
I think you have mis read the OP, £1000 a month not a week0 -
you're ight, it's not fair to keep lining a landlord'spocket and yes wanting to get out if fine and dandy but you also need to check repayments on a mortgage. I take it you're getting advice from all quarters about how much cheaper it is to have a mortgage? this is utter buzcocks.
and think yourself lucky. our rent is £700.0 -
Maybe you should have saved before you got married and had a child...0
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Maybe you should have saved before you got married and had a child...
some people don't have that chance. I met my husband at 19. he was working for his dad. we lived with his dad for a while, and then husby got a job working where he works now but we were unable to keep living with his dad. we moved into a rented flat and right away £625 for rent, money paying off my uni debts, £120 council tax... etc. where the heck was savings supposed to come into it?!
I am assuming OP probably has a similar tale.0 -
Try this point of view. If you cannot afford a sizable deposit and therefore cannot get a good interest rate, there is a good chance that you will be paying close to 500 pounds in interest alone on a mortgage. You will be then lining the pockets of the bank rather than the landlord.
I would consider saving up for a deposit. Try finding extra ways to earn money. You do not have to try and make thousands of pounds right away. A fiver here, a tenner there. It all builds up. Can you find a cheaper place to rent to save a bit of money?
Although home ownership is nice, one has to be pragmatic. If it does not make financial sense, don't do it. Otherwise you might end up worrying about negative equity and not being able to remortgage to get a decent rate.0 -
I'd like to add to what the above poster says: not only looking at the mortgage repayment side, but also the pitfalls of ownership... be pragmatic. remember when you own you're responsible for everything. if you boiler breaks, you fix it. if your roof leaks, you fix it. double glazing blows? your job. pipes break? your job etc.0
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Soundgirlrocks wrote: »I think you have mis read the OP, £1000 a month not a week
opps i meant a month in my post have fixed it nowDEC GC £463.67/£450
EF- £110/COLOR]/£10000 -
some people don't have that chance. I met my husband at 19. he was working for his dad. we lived with his dad for a while, and then husby got a job working where he works now but we were unable to keep living with his dad. we moved into a rented flat and right away £625 for rent, money paying off my uni debts, £120 council tax... etc. where the heck was savings supposed to come into it?!
I am assuming OP probably has a similar tale.
He should have saved whilst living with his Dad like everyone else does?
And you dont have to pay off student loans until you reach a decent amount of income so why can't you both save if you're both working?0
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