MG good for me

Thrugelmir

reallyjammyjam wrote: »

.

So in essense, my point was that far from this scheme being some sort of easy ride that a lot of people seem to think it is, it's good for use because we can get on the ladder sooner then we would have been able without it

Spot on. Hence why the concern over the scheme inflating HPI probably isn't justified at the current time.

amnblog

With regard to the inability to save 20% I would remind Dimbo of the prevelance of:

Divorce
Redundancy
Long term sickness
Lack of state care provision
Bankrupt businesses
Zero hours contracts

in our fine country

the list goes on

amnblog

amnblog wrote: »

With regard to the inability to save 20% I would remind Dimbo of the prevelance of:

Divorce
Redundancy
Long term sickness
Lack of state care provision
Bankrupt businesses
Zero hours contracts

in our fine country

the list goes on

I suspect Paul Dacre will hang me out to dry for that.

Something_Witty

reallyjammyjam wrote: »

It's the deposit that takes the time, and unless you are a) still at home or b) very high disposable income or c) are young and have the next ten years to save so not really a problem.

Not necessarily. I am 29, earn only £20k per year before tax and save an average of £500 per month. My other half is on a similar salary and saves a slightly smaller amount. This is whilst renting privately and running two 10/12 year old cars for the purposes of our daily commutes. It's not easy, but even after putting away our savings we feel our standard of living is pretty good.

I think this idea that no one earning less than £30-40k per year can save a decent amount in a relatively short space of time is quite simply bizarre.

Understandably, it takes a few years, but it can be done. Which is why I feel completely sold down the river by Help to Buy. Just sayin'.

*Ducks head back below parapet*

kingstreet

With a bigger deposit, you'll own more of your home faster and will get a much better rate.

The underwriting on HTB - MG will be very tight and the rates commensurate with the 95%. They will not be near the 3% rates for HTB - EL.

A few people are in for a shock when the rates are published.

squeeks

reallyjammyjam wrote: »

Squeeks in response to your queries -
My kind does make me sound like some sort of alien I meant as in:
renting at mo, living with partner, I am 30 my partner is 35. Used to have a lot of debt, been working to pay it off for house buying. Now only have around £3500 credit card.

I would wait until you see the available products and try not to get your hopes up. HTB may not necessarily be an option if you have a less than perfect credit history.