We can't afford to live together and have children

fairy_lights

This is exhausting. Every possible piece of advice has been given. Just buy the bloody house.

justme111

If you can afford 5% interest rates then I do not see an issue. Why do you try to factor in 10%? What is magical of this number? Why not 20% or 100%? I believe most people could not afford 10%, nobody would be buying if we all wanted to factor it in.
Re children- do not delay much, clock is ticking and the best time for it is already lost (physiologically).
By the way your problems are really first world ones. Plenty of people over the world have 3 generations living in the same house It has its benefits as well. It is this society that dictates otherwise and people get brainwashed into thinking this is the best way.

justme111

JPB156 wrote: »

I've managed to not worry about losing jobs. A mortgage 4.5 times salary is considered excessive on some websites, does it sound too much

No it does not

ssparks2003

JPB156 wrote: »

I keep looking at worst case, which is our pay never goes up, apart from maybe pay rises to cover increasing costs of other bills, and that during the first 5 years the variable rate we will be on will go above what I could see as our limit of 9% and stay there for the rest of the mortgage

If you just sit there with your thumbs firmly wedged up whatever hole you can find and hope the world carries you on then you are wasting your own time, our time and a lot of vital oxgeyn. Suggest you both start to grow some backbones, make your own luck and get out into the real world rather than continuing to huddle under a rock in blind panic. The world is a big and bright place; just try it.

jackieblack

JPB156 wrote: »

What sort of plans do you suggest?

Any of the suggestions that have already been made!

comeandgo

Why is buying so important to you, you are wasting you and your girlfriend's lives, you are existing to save money, not living. The thing I wanted more than anything was to be with and live with my husband. I would have stayed in a tent if it meant being with him.

heartbreak_star

JPB156 wrote: »

What sort of plans do you suggest?

Going to the doctor for your blatant anxiety issues.

Buying the damn house.

HBS x

trix-a-belle

Stop being so flipping defeatist! I'm thinking your other half is going to up sticks without you at this rate, do you intend to propose to her some day? rereading your original post you say you & your girlfriend are feeling low in your situation i'm thinking you are dragging her down with negativity, sorry to be blunt.

Also why does it have to only end in repossession? which you are so fixated on
- can you not have the foresight to remortgage at an acceptable rate before the one you would be on (if you actually buy this house) ends & do not say it will be too expensive, rates will have gone up blah blah as I will be asking for your crystal ball manufacturer. also if it has gone up to the 9/10% levels you keep wittering about as I said before others would be in a state well before you (as your multiples and affordability look reasonable) so surely we would be in a situation where the majority of the country couldn't afford their mortgages & be defaulting, I think the government would be looking at having something in place before then so that doesnt happen don't you.

- if you are unable to get a new rate that is doable, should it happen, can you not look at what else is on the market and find something cheaper or sell up completely (have had a friend have to do this recently due to redundancy
- you have already said that the mortgage deal that you would be on on the 5 year fix is an acceptable amount to manage, are you apparently going to spend every single additional penny that you earn in those 5 years, would you not be thinking it might be worth overpaying a little to save some interest
2300 (money in bank after tax each month) - 600 (mortgage) - 600 (food and bills estimate) - 150 (big bills over the year) = 950 to save/discretionary spending x 60 months (5 years) = up to £57,000! that could be saved or used to pay down the mortgage

fyi the above are what sensible people do but you need to move at more than 2 miles every 3 months. i'm thinking the house you were talking about will now be sold so you have already missed that boat & haven't actually considered that if it is still available you could make an offer on it at a bit less than the asking price to save yourself some cash

so stop being such a negative nancy & either buy the house or don't and get on with life, all the options and opinions have been laid out
& i am now out

(nb: anyone notice that the op posted just a few days after we had all gone away due to them constantly being on repeat...)

Red-Squirrel_2

Loz01 wrote: »

This is true but sometimes it is VERY difficult to actually move out. I'm 30 and I still live with my Mum, pure and simply because of the fact Im saving but can't afford to buy anywhere. Don't assume everyone my age is kicking back loving their life, I don't want to be here aged 30, its kind of embarrassing! The OP seems to like to dither a lot but it doesn't mean him and his girlfriend enjoy living home in their childhood bedroom.

I do realise that not everybody has a choice, and your situation is entirely different to the OP.

He does have a choice, he could have moved out years ago if he wanted to, his parents must be very understanding!

Guest101

Red-Squirrel wrote: »

I do realise that not everybody has a choice, and your situation is entirely different to the OP.

He does have a choice, he could have moved out years ago if he wanted to, his parents must be very understanding!

People seem so scared to rent, it's crazy.


Going straight from a managed home to home ownership with no experience of living alone.