First Time Buyer - 100% Mortgages - Summary / Advice Request

Thrugelmir

hc289 wrote: »

Back to the 100% mortgage front, despite reading some months ago that Aldermore is now offering it with a parental Guarantee I still can't find anywhere (brokers) that seems to advertise it - i'm not sure what i'm missing here but someone must be selling this product?

The easy way out. Precisely the reason 100% mortgages have fallen by the wayside. You need to demonstrate an ability to manage your money. A mortgage is a 25 year commitment. Needs to be paid month in , month out.

Start with say saving a £1k a month from your salary. Then learn to budget by living on the remainder.

Clear your parental debt as well.

RenovationMan

hc289 wrote: »

Not an uncommon question, bills are an extra £200 (inc. council tax etc), things such as parental loan repayments from when my income was not this amount to a further £300, the remainder has been getting frittered away on things like holidays to date - a habit i'm only now getting out of, it's been fun while it lasted

It's worth mentioning i'm 'only' 24 - been out of university for around 2 years after staying for an MSc (and frittering away what savings I had on self-funding that) - so i'm still relatively new on the scene. Not that i'm saying your questions about where my money has been going are illegitimate!

You graduated 2 years ago, straight into a recession and yet your first job is paying £60k? So much for graduate unemployment!

Out of interest, what do you do for a job? I'd love to get into that industry!

Brummygold

RenovationMan wrote: »

You graduated 2 years ago, straight into a recession and yet your first job is paying £60k? So much for graduate unemployment!

Out of interest, what do you do for a job? I'd love to get into that industry!

I second that.