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100% mortgages

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Comments

  • upoiupou
    upoiupou Posts: 136 Forumite
    carina62 wrote: »
    my daughter and her partner are desperate to get on the property ladder but they have no deposit at the moment. thanks

    If they're desperate, then your daughter and her partner need to increase their income and/or reduce their expenditure, and save for a deposit. They are really lucky to have a reduced rent to help them do this, and if the place feels cramped to them that could give them the motivation to get serious.

    As things currently stand, I don't see how they could or would maintain mortgage payments (plus other home-owning costs) even if you did pay to help them get started. You can't do it all for them.
  • The average cost of keeping a dog is around £1,200 per annum.


    So without the dogs, it would only take 5 years to save the 10% deposit on a £100k property.


    If they are that keen to get out of social housing and get on to the "property ladder" then the solution seems pretty simple.
  • fewcloudy
    fewcloudy Posts: 617 Forumite
    Part of the Furniture 500 Posts Photogenic Name Dropper
    The average cost of keeping a dog is around £1,200 per annum.


    So without the dogs, it would only take 5 years to save the 10% deposit on a £100k property.


    If they are that keen to get out of social housing and get on to the "property ladder" then the solution seems pretty simple.
    Hmmm, I think you're barking up the wrong tree with this one...


    fc
    Feb 2008, 20year lifetime tracker with "Sproggit and Sylvester"... 0.14% + base for 2 years, then 0.99% + base for life of mortgage...base was 5.5% in 2008...but not for long. Credit to my mortgage broker
  • csgohan4
    csgohan4 Posts: 10,600 Forumite
    Ninth Anniversary 10,000 Posts Name Dropper Photogenic
    To be fair pets are a choice and not a necessity like rent and food.


    If you complain that you can't afford xyz then they have to take responsibility and not look at others to blame but look at saving and cutting away the excess.
    "It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"

    G_M/ Bowlhead99 RIP
  • Dird
    Dird Posts: 2,703 Forumite
    Eighth Anniversary 1,000 Posts Combo Breaker
    csgohan4 wrote: »
    To be fair pets are a choice
    We're not talking about some boring old cat here. A dog is for life, not just for Christmas
    Mortgage (Nov 15): £79,950 | Mortgage (May 19): £71,754 | Mortgage (Sep 22): £0
    Cashback sites: £900 | £30k in 2016: £30,300 (101%)
  • System
    System Posts: 178,379 Community Admin
    10,000 Posts Photogenic Name Dropper
    A man's best friend!!!
    This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
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