Don't know where to start

RachelD1

Hi everyone,


I have recently managed to secure my first ever permanent job contract but I am now at a loss as to where to start with mortgages and house buying, or whether I should just give up the dream and rent privately. I have a decent amount saved up for a 5% or even a 10% deposit, but I am not sure whether it will suffice with a yearly income of around £17,000.


I am looking to move my mum and her brother (who lives with us currently) out with myself, as we currently live in a rough estate and I just really want a better life for us all. My mum and uncle are too old to have a mortgage, but they would be able to help out with costs over the next decade before they retire. We were planning to privately rent within better areas, but the insecurity of landlords potentially selling up at any point put us off. We all earn around the same yearly income, but I will be the only one who isn't retiring anytime soon.


Any advice on where to start? Who to speak to? What path to follow?


Any help would be much appreciated.


Thank you for your time


Rachel

Annisele

How expensive is the sort of house you want to buy? And whereabouts do you live? £17k goes *much* further in Bradford than in London.

What sort of tenancy do you have at the moment? If your Mum has a council tenancy, she should think *very* carefully before giving that up.

RachelD1

Hi,


We live in Nottingham and I would say that we are looking at around the £100,000 sort of price for a home.


We do live in a council owned property at the moment, which is obviously a lot more secure than private renting, but generally the areas are rough and only getting worse in our experience.

ACG

You could probably lend around £75k with your deposit on top... as a basic ball park figure.