Getting a mortgage at 20 - help?!

6397

ACG wrote: »

If you can afford it, I would avoid buying with yout friend also.

This sounds really condscending I know, but your 19/20. So much will change over the next couple of years, im 31 and I look back to when I was 20 and my mates now are not my mates from then in the main. What happens if one of you gets a partner, they move in - how do you split it with the bills? Is it still 50/50 or a third each? Or you have an argument over something? Or one of you wants to sell. You are jut opening yourself up to a nightmare.

The problem is, he can't afford it alone as he has no savings, and I can't afford it alone as I have to pay for medical care/surgery not covered on the NHS. I need the surgery by 25, which will be achievable if we buy the place together, but if I buy alone I'll be 28~ before I can afford the surgery

ACG

It might be worth living tgether for 12 month and just renting. To see how you get on.

csgohan4

6397 wrote: »

The problem is, he can't afford it alone as he has no savings, and I can't afford it alone as I have to pay for medical care/surgery not covered on the NHS. I need the surgery by 25, which will be achievable if we buy the place together, but if I buy alone I'll be 28~ before I can afford the surgery

So your friend is getting a better end of the deal, no deposit but half the house????


Avoid it, it will only end in tears.


if you really have to do it, ensure it is reflected via the solicitor in how much you get if you sell the house as you provided all the deposit.

seatbeltnoob

6397 wrote: »

The problem is, he can't afford it alone as he has no savings, and I can't afford it alone as I have to pay for medical care/surgery not covered on the NHS. I need the surgery by 25, which will be achievable if we buy the place together, but if I buy alone I'll be 28~ before I can afford the surgery

what surgery? seems like that should be your priority over bricks and mortar