Desperate to buy

MarkBargain

It may be worth looking into Nationwide's 'save to buy' as if you save with them they do offer some mortgages with a 5% deposit:

https://www.nationwide.co.uk/mortgages/interestrates-types/specialoffers.htm?offer=3

Go in an have a chat with them maybe to see what they can do for you?

danielanthony

My uncle just sold a three bed semi in Swindon for £125000, there are affordable houses out there but people want to buy in places they can't afford.

gazter

wymondham wrote: »

Forget fretting over not having a mortgage and enjoy your family... a mortgage is not the holy grail!

Whats wrong with renting?

Where do I start?

If they bought a property ten years ago, the chances are that not only would they be 40% through their mortgage, there was also a pretty reasonable chance that the property had increased in value between 30% and 40%.

Lets look at what that means. In 2003 the OP bought a brand new house for £80,000 on a 25 year mortgage.

By now, in 2013, they would have paid off 40% of that, and their house is now worth £110,000. Their costs in terms of maintenance are pretty close to zero on a new build.

Their equity in the property if realised today would be around £60,000.

So, there i can think of sixty thousand good reasons why they want to buy and not rent.

Dan:_4

My wife and I are in the same situation. We have a 2 month old baby and would like to buy our own home before we have the second. While forking out rent, council tax, energy bills etc and the wife only working part time it will be almost impossible to save a decent enough deposit.

We are in a luckily situation as my in laws have offered to let the three of us move in with them rent free to help us save a deposit - our tenancy ends in Sep so we are now thinking this is the only way we can do it.

Hopefully we will have a deposit by summer 2015

Conrad

95% mortgages are available folks!

brit1234

Just start saving that deposit and pruning those other costs. The sooner you start the better.