How can l get on the propert ladder????

Rick62

Renting is not throwing money down the drain, it all depends a what level house prices are relative to rents. Right now with gross rental yields at 4 to 5% (and net yields at about 3.5%) versus mortgage rates at about 6% it makes more sense cashflow wise to rent. The only reason to buy (from an investment point) is if prices are going to rise. With prices where they are now theres a strong concensus that most prices are more likely to fall rather than rise.

Right now you should only buy if you want a place as a home (not for investment potential) and if you can easily afford it. In your position you should save a deposit, build your credit rating and see what happens to the market over the next couple of years. You'll then be in a stronger position, prices are unlikely to have risen much and are more likely to have fallen (particularly outside London, which is a real casino right now).

lauren565

I wouldnt bother living in the south eg london anymore. Grew up there and now bought a house in Nottinghamshire. Love it. Wouldnt move back south if you paid me...... Solution ~ move up here!!! Everyone is doing it!!!!