Mortgage Deposit in Southeast

zarf2007

jjlandlord wrote: »

I think someone's trolling and making stuff up as he goes... Don't feed him.

(not to mention all the spelling mistakes...)

happy to produce payslips, i dont need to troll its fact.

zarf2007

Foxy-Stoat wrote: »

Maybe its someone off Made in Chelsea....

please, I have some class.

bsms1147

zarf2007 wrote: »

and you need a good car, a high end BMW or Mercedes is always nice.

This is the cherry on top.

Metranil_Vavin

Gold speedboats don't come cheap either...

[Deleted User]

2x£3k a year on the Arsenal/Chelsea season ticket.. makes our £360 Watford season ticket look good value

There you go - support a lesser team and you can easily save 5 grand

Pixie5740

Yes, spending £400 a month on a car lease is excellent value for money. Especially for a car you'll barely ever use living in cnetral London whilst also paying out a further £500 a month for public transport.

ManicRower

Just thought I'd add my 2p's worth, largely so that people from outside of London don't think all of us Londoner's are like the troll in this thread.


My g/f and I purchased a flat in Jan '14 in SE London after saving for approximately 18 months. Over those 18 months, saving was our primary focus and we managed to:


- Saved enough for a 10% deposit (£335k purchase price), all associated fees/stamp duty & a small contingency fund to get the flat rewired/replastered/painted.
- Earned approximately £80-£85k per annum between us, certainly not banker territory but still an excellent income and more than 'liveable' in London.
- Rented a small 1-bed flat in an unfashionable part of London, on the proviso that this sacrifice would help us get on the ladder quicker. We could have afforded a 2-bed in a nicer part of town, but we would not have our own flat now.
- Had zero holidays, no cable/sky TV, cycled/ran to work instead of tube/train, very few takeaways/meals out etc.


I for one am fed up of people (regardless of where they live) moaning about not being able to get onto the ladder, but not being prepared to cut out the fancy new car, the yearly holiday or even one Sat night in the pub a month. Saving for a property is HARD WORK regardless of your salary/budget/area and owning your own property is (sadly) not a divine right. I wish more people could see how a year or two of relative sacrifice (i.e. no holiday, no new car) can have such a positive effect on the rate at which a deposit is accrued.


Sorry, rant over.

sulphate

Well said Manic.

I don't live in London but not that far away either (commuter distance) and my husband and I bought our first home last year with a joint income of around £35k. Wasn't easy but we budgeted and made sacrifices to save.

Choices, choices.

zarf2007

Pixie5740 wrote: »

Yes, spending £400 a month on a car lease is excellent value for money. Especially for a car you'll barely ever use living in cnetral London whilst also paying out a further £500 a month for public transport.

As opposed to buying a car outright and losing 50% of its value after a couple of months....no thanks and there are more places to drive than Central London when you live in herts you muppet. And this way I get a brand new car every 3 years with zero maintenance costs

bsms1147

Or you're spending £15,000 every 3 years with no assets to show for it.