Will I EVER be able to buy a house?

lessonlearned

Plenty of lenders offering 30 year mortgages, so 4 x salary can be offered.

My sons had quotes from both Halifax and Nationwide, 30 years, 2 year fixes, 10% deposits. Obviously if you can save 20% interest rates will be more attractive.

Stay at home for a bit longer, keep saving. Your outgoings should be low you should be able to save at least £500 per month. What about a part time job,even just a bit of bar work a couple of evenings a week.

Have a look at the Up Your Income Board to get ideas how to make some extra money.

Try and improve your employment prospects. What about getting your Masters.
There is something of an upsurge in engineering at the moment, more jobs around, (one of my sons is a research engr).

Avoid shared ownership if you can and definitely stay out of rented. On your present salary you will never be able to save anything if you are shelling out rent.

Strapped

Change job. Seriously, you're a graduate with a desirable degree - move area if you need to, but get yourself on a career not a dead-end job. Engineers have lots of transferable skills. (I was going to say "problem solving", but maybe not ) Maybe see a career adviser rather than a mortgage broker.

MaxTheCat

monty-doggy wrote: »

You can get help with deposit or a 5% deposit paid on a shared equity scheme. On your salary you could borrow around 60k which would give you a 50% share of a £120k property. You need to look at what schemes are available in your area.

A 5% deposit would be £6k

Shared equity schemes are an extremely poor idea I'd avoid them like the plague. To the OP, it does sound like you need to up skill yourself and earn some more money because 15k is basically a poverty salary and poor people have never been home owners. Another alternative would be to move to somewhere that you can afford a place although it may not be a nice place to live.