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Am I wasting my time?
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Save 2k a month! Wow! That’s incredible efforts. I’d save a bigger deposit0
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It's not easy, but doable. We've basically cut out anything that's not a necessity, No treats in the weekly shop, sticking to meal plans, sim only phones, no virgin/sky, taking coffee to work instead of buying it there etc etc0
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Save like crazy, the more money you have for the deposit the better.
Clear all debts so that your only debt will be the mortgage.
Save for a life happens and emergency fund - 6 months to one 1 year for each - I prefer 1 year.
Once the debt is paid off, you will have extra money - tackle both funds and deposit in two separate accounts
It can be done, but you have to be very determined both of you.
Do not discuss money with any friends or family and DO NOT lend to anyone. This is someone who have been screwed over by family and extremely so-called closed friends.0 -
My husband is very much on board too. We can’t wait for the day we can actually buy our own home! I’m actually looking forward to paying off debts!0
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Debtfreestudentnurse wrote: »Thank you - our ages are a worry.
Can’t believe I’m saying that while I’m in my 30’s!
Shortest mortgage Halifax (for example) would do is 10 years. I took my first mortgage at 45 too. I asked originally for 22 years to take me to retirement age. My actual mortgage is 18 years following a chat on what would be comfortable paying and looking at how much it would be if rates went up. So in 2022 your husband will be 43/4. Plenty of time to pay off a mortgage.You’ll be fine with regard to your ages.
Myself and my partner have just bought our first home at the end of last year. I’m 45 and she’s 48. It just means that you may wish to take a shorter mortgage term that’s all. We went for 20 years.Paid off the last of my unsecured debts in 2016. Then saved up and bought a property. Current aim is to pay off my mortgage as early as possible. Currently over paying every month. Mortgage due to be paid off in 2036 hoping to get it paid off much earlier. Set up my own bespoke spreadsheet to manage my money.0
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