How is a single graduate living in greater London expected to get a mortgage?

at11

YorkshireBoy wrote: »

Why would/should it? Genuine question.

I meant as a benefit with the government, if they offer disabled first time buyers any benefits/entitlements?

the government do offer an up to 20% equity loan:

https://www.gov.uk/affordable-home-ownership-schemes/help-to-buy-equity-loans

so this would increase my stake on a £150k property to become affordable, if offered the full 20% equity loan

1 bed flat in Epsom for £150k

Deposit = £25k
Mortgage = £95k
Equity loan = £30k (20%)

pinkteapot

at11 wrote: »

i am registered disabled, will this make any difference with my situation?

It might increase the cost of mortgage critical illness insurance, depending on what disability it is...

Congratulations on getting the deposit together. If you're on a graduate training scheme in the City then your salary increases over the next five years should be decent. You could save up for a few more years and as your salary goes up the mortgage you can get increases at a fairly decent pace...

kingstreet

at11 wrote: »

I meant as a benefit with the government, if they offer disabled first time buyers any benefits/entitlements?

the government do offer an up to 20% equity loan:

https://www.gov.uk/affordable-home-ownership-schemes/help-to-buy-equity-loans

so this would increase my stake on a £150k property to become affordable, if offered the full 20% equity loan

1 bed flat in Epsom for £150k

Deposit = £25k
Mortgage = £95k
Equity loan = £30k (20%)

Is the property a newbuild? If not, there's no equity loan.

http://yournews-legalandgeneral.com/pv_obj_cache/pv_obj_id_BB320F8298FC1120B8826B44DE0AD12E294C0800/filename/Help%20to%20Buy%20Definition%20Budget%202013.pdf

leveller2911

at11 wrote: »

i am registered disabled, will this make any difference with my
situation?

I've known plenty of disabled people over the years and the one thing they all wanted/want is to be treated equelly as able bodied people, not elevated above nor discriminated against.

Well done if you have managed to save £25k, keep on saving and I'm sure you will reach your goal.

Good luck.

at11

leveller2911 wrote: »

I've known plenty of disabled people over the years and the one thing they all wanted/want is to be treated equelly as able bodied people, not elevated above nor discriminated against.

Well done if you have managed to save £25k, keep on saving and I'm sure you will reach your goal.

Good luck.

I too don't want to be treated any different in society,
Being disabled isn't fun or as easy as being able bodied as everyone else.
So the way i see it is to take all advantages you are offered.

e.g i could buy a second hand car, pay insurance, services and road tax

OR

i could make the most out of a bad situation and apply for DLA and then get a new car on lease which comes out of the DLA , so i dont pay for any of the costs associated with the buying/having a car besides petrol.
i see this as a nice pat on the back for having to be disabled.

i am not expecting special treatment, i am just trying to see if there is any government help for first time buyers that are disabled (wheelchair)

since becoming 'disabled' my motto is to make the best out of a bad situation, hence trying to see if any special 'assistance' in my first property buy.
i'm not scrounging for help, just taking advantage of 'positive discrimination' in this PC world we live in

i could just live on disability benefits and not even work, but thats not me, i want to work hard and achieve my goals
first one, being a home owner

tiger_eyes

Why would a single graduate on £22k in greater London be expected to get a mortgage?

matttye

Your best option is to buy somewhere outside of London and commute - for now.

Once you're earning more, look at getting somewhere in London.

leveller2911

at11 wrote: »

i am not expecting special treatment, i am just trying to see if there is any
government help for first time buyers that are disabled (wheelchair)

There is Govenment help for anyone who fits the criteria so why even mention your disability in the post above?.

since becoming 'disabled' my motto is to make the best out of a bad situation,
hence trying to see if any special 'assistance' in my first property buy.

?????

i'm not scrounging for help, just taking advantage of 'positive discrimination'
in this PC world we live in

I'm not saying you are a scrounger, as I mentioned I know plenty of disabled people (2 in my immediate family) majority of whom work and pay into the system and I have a lot of respect for them. Those that don't work are severely disabled.All of your above posts contradict what you saying as "not wishing to be a special case".

i could just live on disability benefits and not even work, but thats not me,
i want to work hard and achieve my goals


first one, being a home owner

Good luck and I can see your driven so I hope you do achieve your goals .

Leolo

Move away from London. There are plenty of jobs and properties elsewhere. London is the capital city but certainly not the only city in the UK. Alternatively, commute or save more. Good luck.

ViolaLass

hcb42 wrote: »

I dont think a single in most parts of the country on £22K can get a mortgage that easily.

Easy enough where I am, just outside Birmingham.