Can I Do This Myself?

no1wf

beecher2 wrote: »

On 10k it would be very difficult to afford house ownership even with a large mortgage as you have to factor in repairs, insurance and maintenance. Your bills would also increase as you would have to pay for utilitites etc.

All you can do is keep saving and look for a better paying job - maybe look into adding to your qualifications/skills through night classes?

I quite like my job, I only work on the tills in Tesco and do overtime on another department. Other department only has 3 employees, one of which is off for 6 months soon and the team leader is moving on to another department and I'm one of the very few who know how to do the job so there's lots of overtime going and I get first dibs. Plus it's about 5 minutes up the road which saves a lot of petrol and I like my staff discount lol I could try moving up the ladder in work maybe, the pay is a bit better for team leader jobs. Though as my boyfriend says it's the kid of job where I'm dispensable lol

I'm not really keen on getting more qualifications it doesn't feel like they account for anything like they used to. Boyfriend has not long spent 3/4 years at uni and really struggled to find a job in his field. Granted it was a pretty awkward one but it still took him 9 months to get a regular job

PasturesNew

Change your job, change your bf. Start again.

Annisele

If you want to live together, then one of you is going to have to compromise!

Are you absolutely certain you're not prepared to rent, even if only for a few months? I'd be highly reluctant to buy a house with somebody I'd never lived with.

If your boyfriend contributes to the deposit and plans to live in the house, then it's likely he'll have to be on the mortgage as well.

You're right that living with your parents puts you in a good position to save, but as it stands you're not in a good position to buy the sort of house you want - your deposit and your income are both too low. But as you say, the higher your deposit the lower the income you'll need.

How much does your boyfriend earn, and what's his position re savings and debts?

no1wf

PasturesNew wrote: »

Change your job, change your bf. Start again.

He's not as bad as I'm making it out honestly lol I think he's just scared he always assumes the worst and expects the bank to be round repossessing all his stuff

Annisele wrote: »

If you want to live together, then one of you is going to have to compromise!

Are you absolutely certain you're not prepared to rent, even if only for a few months? I'd be highly reluctant to buy a house with somebody I'd never lived with.

If your boyfriend contributes to the deposit and plans to live in the house, then it's likely he'll have to be on the mortgage as well.

You're right that living with your parents puts you in a good position to save, but as it stands you're not in a good position to buy the sort of house you want - your deposit and your income are both too low. But as you say, the higher your deposit the lower the income you'll need.

How much does your boyfriend earn, and what's his position re savings and debts?

I wouldn't mind renting, but I worry about my Dad being left alone once I've moved out, he has lung disease and if anything was to happen I wouldn't be allowed to have him stay with us and wouldn't be allowed to bring the family dog. If we rented a 2 bedroom flat there would be no space let alone if we were allowed or not. I also don't like that the money I'd be paying in rent could potentially be paying off a mortgage, and I don't like the idea of moving all my stuff out of here, into a rented place for a few months, then back again, only to buy a house and move it all back out again lol it's hard work, possibly expensive and you can't find the time between working to move once let alone that many times lol

He spends a lot of time here and a few nights a week here so I know what he's like to get on with just not running a house with. We've been together almost 4 years now and a friend of mine just did the same thing last year with her fiance too

Would he have to be on it? I figured as long as the lender had the deposit and got the payment every month it wouldn't matter, though they might just want to know who was living with me

This is his first proper job, it's only temporary but there's a chance he could be taken on permanent at the end, though he would love something a bit closer. I'm not sure what he's getting paid yet as this is still his first month and get's paid next week though a fairly big chunk goes on travelling to and from. He has student debts from being in uni, not sure how much but apparently you don't have to pay them back until you're earning XX amount or so I hear. He's pretty bad at saving but I think that's only because he's never had anything to save or anything to save for. He's been on JSA but because he's not had anything to save for he pays his phone contract every month £15, travel to and from the job center and then he'd buy himself a few second hand games.

Thrugelmir

no1wf wrote: »

This is his first proper job, it's only temporary but there's a chance he could be taken on permanent at the end, though he would love something a bit closer.

Hardly surprising that mortgages are the last thing he wishes to commit to at the moment. Keep saving and see how life unfolds. No point in rushing.

bowlhead99

no1wf wrote: »

I think the maximum I could earn if I had more hours would be 10k a year, is this not enough either? I don't know what other members are doing to have 20k+ incomes lol

Speaking for myself, I didn't buy until I was well into my career, probably earning 8-9x what I was making as a university graduate 15 years earlier and perhaps 20x the hourly rate I made in supermarkets or fast food restaurants while doing my Alevels. Of course inflation accounts for some of that, but hard work and education and luck is the rest.

As beecher2 says, if your job has a ceiling of about 10k a year and you want a 100k house, you are going to need to change jobs sooner or later; perhaps look for some extra qualifications/education on the side which will open doors to more lucrative jobs, while working hard enough to convince people around you to move you into a more senior position.

The reason houses are expensive is that the people you are competing with to buy houses are out there doing all of the above, in a race to be able to buy the best houses by being able to pay more than their rival human beings to get them. This is how capitalism works, and it's used in all the developed countries in the world so there's no avoiding it.

Failing that then, how can I get my boyfriend to change his mind

Firstly, if you had a full time job and a better salary and career prospects the boyfriend would be taking less of a risk in signing his name to a joint mortgage agreement with you.

Secondly, in my experience of being male, there are things that girls can do to convince boys to do things that they don't really want to, despite their better judgement. These probably can't to be discussed on a family-friendly forum

Thirdly there is always the option of a boyfriend upgrade if the current one is so out of tune with your thinking. Given long enough for you to have saved up and fixed your salary problems, he will either have come around to your way of thinking or he'll no longer be in the picture.

no1wf

Thrugelmir wrote: »

Hardly surprising that mortgages are the last thing he wishes to commit to at the moment. Keep saving and see how life unfolds. No point in rushing.

I'll be saving no matter what, savings are always handy to have. But I like to have something to look forward to or a target or something so I just wanted some advice on if it was plausible.

Maybe for now then I'll keep saving/doing overtime, see if I can get more hours in work. In the meantime is there anything illegal or untoward about having him help save a deposit with me but the mortgage is in my name and then he helps with bills?

no1wf

bowlhead99 wrote: »

Speaking for myself, I didn't buy until I was well into my career, probably earning 8-9x what I was making as a university graduate 15 years earlier and perhaps 20x the hourly rate I made in supermarkets or fast food restaurants while doing my Alevels. Of course inflation accounts for some of that, but hard work and education and luck is the rest.

As beecher2 says, if your job has a ceiling of about 10k a year and you want a 100k house, you are going to need to change jobs sooner or later; perhaps look for some extra qualifications/education on the side which will open doors to more lucrative jobs, while working hard enough to convince people around you to move you into a more senior position.

The reason houses are expensive is that the people you are competing with to buy houses are out there doing all of the above, in a race to be able to buy the best houses by being able to pay more than their rival human beings to get them. This is how capitalism works, and it's used in all the developed countries in the world so there's no avoiding it.
Firstly, if you had a full time job and a better salary and career prospects the boyfriend would be taking less of a risk in signing his name to a joint mortgage agreement with you.

Secondly, in my experience of being male, there are things that girls can do to convince boys to do things that they don't really want to, despite their better judgement. These probably can't to be discussed on a family-friendly forum

Thirdly there is always the option of a boyfriend upgrade if the current one is so out of tune with your thinking. Given long enough for you to have saved up and fixed your salary problems, he will either have come around to your way of thinking or he'll no longer be in the picture.

That's the thing I don't have a 'career' or even any indication of one I would like to do. I do sort of want to be a pharmacy technician but thats only a bit above what I'm doing now with a few qualifications at a college. I never wanted to be a pharmacist as I didn't want to spend 4 years at uni racking up debts.

He'd be taking less of a risk but I bet he still wouldn't do it, I can never understand why when he explains it, the only thing I get from it is he doesn't want people coming round and nicking his games. His dad is in a bit of debt and there was talk of bailiffs once so I think it put the fear of god in him.

Lol I doubt that either, I've been talking about this for months, I even wanted to buy my current council house and that would have been a lot less but he still wouldn't do it, and no amount of that was changing his mind lol

Nah he's not going anywhere we're too well suited and in it for the long haul now, I'll just have to hope he's changed his mind once I've saved up a decent amount and we're both working full time, hopefully he will feel more secure about it

bowlhead99

no1wf wrote: »

Maybe for now then I'll keep saving/doing overtime, see if I can get more hours in work. In the meantime is there anything illegal or untoward about having him help save a deposit with me but the mortgage is in my name and then he helps with bills?

If he's saving part of the deposit and contributing to running costs of the household and living in the household he would be insane not to want to be named as an owner of the house.

If he's an owner of the house you will not be able to get a mortgage without him being jointly liable for it.

Even if he's not an owner but is an adult that lives in the house and has put money into the deposit, you will find it difficult to get a lender to lend against the house without him being on the mortgage, unless you have so much deposit that you don't need his anyway and/or you're willing to do something underhand or illegal to convince them that it's all your own money and he doesn't live there.

Morgage_Confused

Apply for the team leader job. Talk to his/her boss and make it clear you are interested in the role when the current team leader moves.