Help to buy equity loan.... very unhelpful !!!

AdrianC

sky_rat wrote: »

2 - I don't work in the same area I live

Neither of these two points are my choice

Umm, yes, you DO have the choice to live in the area you work in. You're actively choosing not to do so by trying to buy a place in a different area from where you work.

lynz68

I'm sorry but the main problem seems to be your unwillingness to compromise. Unfortunately that is what life is all about and we can't have everything we want.

If you really want to buy you have to look further than new properties and accept less than your ideal or move slightly further away and put up with the commute to see your child and I'm sure as a good father you could put up with that.

You need to stop procrastinating make your decision and get on with it....... I am very good at procrastinating so I know wat I'm talking about in that respect.

sky_rat

This is the downside to posting on forums when people just dont understand the details of the situation...

AdrianC wrote: »

Umm, yes, you DO have the choice to live in the area you work in. You're actively choosing not to do so by trying to buy a place in a different area from where you work.

Yes I could move to the area where I work, but thats 50 miles away from where my daughter lives and would mean I would have to reduce contact. So its a choice between buying a house and reducing contact with my daughter, or renting and continuing with the little contact I have. Thats not a fair choice and I choose to be in my daughters life as much as possible.

BUT from what I have been told, even if I did work and live in the area I would still have little choice of getting shared ownership.

I was speaking to a mother the other day whose daughter lives and works in the area yet she has been unable to get shared ownership too. Imagine if I did move to the area I work (resulting in reduced contact with my daughter) only to find that I still cant get on the shared ownership scheme.

The fact of the matter is, these government schemes are fckuing useless. The whole housing market is a con and a rip off, its as simple as that.

Red-Squirrel_2

sky_rat wrote: »

Looks like Ill be paying someone elses mortgage for the rest of my life.

If you do, that will be your choice.

You are in a position to buy your own property if you wish to, just not your 'ideal' dream home. Well, that's how it is for nearly every first time buyer!

My first place bought on my own was a one bed flat with a view of a grotty car park and no balcony. Not really anybody's 'dream' but its been home and the equity its built up over the last 5 years means that I can now look at moving up a step and buying a nice little house with a garden.

Talk to your parents, I bet they didn't move straight into perfect homes either.

You've made a choice not to compromise at all on what you want in order to own your own home. That's up to you and if that's your decision and you're ok with it then great, but its poor form to then go on acting as though you don't have choices and moaning about how you continuing to rent is somehow everybody else's fault!

AdrianC

sky_rat wrote: »

This is the downside to posting on forums when people just dont understand the details of the situation...

Look, you've had HUNDREDS - literally - of places that meet your criteria pointed out to you through this thread. Apparently, none of them are quite right... because. Just... because.

You do not NEED shared ownership. You can afford 100% ownership. You have a wide choice of 100% ownership places.
You don't qualify, apparently because of the choices you've made. But they're not choices. Well, yes, they are. But I'll bet your lack of financial need was also a factor.

The fact of the matter is, these government schemes are fckuing useless.

It's starting to sound rather as if anything short of Buckingham Palace slap bang in your perfect location, for £150k, would be "fckuing useless". Even then, you'd probably whine about the running costs and how unfair it was that you couldn't have bought it for £125k.

The whole housing market is a con and a rip off, its as simple as that.

So why are you so keen to get into it?

airyfairy76

I live on the east side of Milton Keynes, and am in a very similar situation - same age, similar budget (actually somewhat less as no parents to help me out with deposit) and looking in the same areas.

I currently live in one of the most expensive parts of Milton Keynes and thought I would have to look at elsewhere for a two bedroom house - Broughton, Monkston, Walnut Tree, Browns Wood, Wavendon etc (all the more easterly areas for non MK'ites!) to name but a few, and I have property alerts sent to me every day. There are a number of two bedroom houses that come up £200,000 or less - okay, the decor might not be to taste on some, but that is so cosmetic - Milton Keynes being what it is, none of the houses are that old unless you live in an older area like myself, so generally cosmetic updates are all that is required if you don't like it. Yesterday for example, a 2 bedroom terraced house in Walnut Tree for offers over £180,000, the other day a semi detached 2 bed house for £199,995 in Monkston.

I've actually just grasped the bull by the horns about six months ahead of my buying plans, as a ginormous new build flat came up in my village for £190,000. 1st floor so no garden, but about 25% more floor space than the victorian terrace I am renting at the moment, and just over the road from a park. For me it was location, location, location and being able to stay in the very nice village I live in, so I made that compromise of a flat over a house, but I am also using the Help to Buy Equity Loan scheme, so for me, definitely not unhelpful.

Rambling a bit - just wanted to highlight there are options there, I see them every day. It is a case of moving quickly though. The property I am buying came onto Rightmove and I phoned up wtihin minutes and I still nearly lost out to another buyer.

ethank

I was able to find a house acceptable to me very close to MK using the scheme. It really helped us.

GwylimT

You still haven't clarified why you cannot buy the many properties on rightmove in your area, you say you would rather pay your own mortgage, then conveniently ignore all the properties you could buy. There are over 400 apartments within ten miles of your area.

sky_rat

GwylimT wrote: »

You still haven't clarified why you cannot buy the many properties on rightmove in your area, you say you would rather pay your own mortgage, then conveniently ignore all the properties you could buy. There are over 400 apartments within ten miles of your area.

1. A 10 mile radius is 'as the crow flies', the distance to travel by road is a lot more. For example, a 10 mile radius includes Northampton. This might be true if you draw a straight line from point A to point B (i.e. as the crow flies). For example, Northampton is actually 20 miles away by road and thats only because the M1 conveniently links Milton Keynes to Northampton. Other locations in that 10 mile radius will be much more when travelling by road (PS. I don't own a helicopter!).



2. I am looking at properties between £170k (much less and you can guarantee they will be dreadful) to £200k. I am also looking at houses (not apartments).

3. On Rightmove you can draw a map of the area you are interested in. This is much better than using the 'flawed' 10 mile radius search.



4. As with most areas, there are good and not so good. The not so good areas that I am aware of are Springfield, Coffeehall, Fishermead, Netherfield, Beanhill, Leadenhall, Eaglestone.



So these 400 properties you found (including apartments) in 10 mile radius (as the crow flies) in reality reduce drastically.

And some of these properties are not very nice, so I would rather pay a bit extra (e.g. help to buy, shared ownership) for a nicer property. Remember... I wouldn't have the time or money to decorate - the property would have to stay as it is !

AdrianC wrote: »

So why are you so keen to get into it?

Where do you expect me to live ? On the street !!!?? I have to live somewhere, which means either wasting money on rent or buying. If I can buy for the same price I am paying in rent then its a no brainer ! Also, what do you expect me to do come retirement ? Pay thousands of pounds a month on rent using the small pension I'll have ? It would also be nice to leave something for my daughter when I'm gone.

airyfairy76

I'd be looking for properties up to around £210k. You may have the potential of having a cheeky offer accepted, and it makes a big difference to the number of properties returned. Have you viewed many "second hand homes"?