At what age were you when you first bought your first home?

robatwork

orchid2010 said:

East Anglia, 19.  Interest rates went up twice before our first mortgage payment and topped out at over 16%.  Really tough.

Was that 1987? I remember being on a student placement and people were absolutely cacking themselves about the interest rates. I think they went from about 9% to 16% very quickly - hundreds of pounds per month and a huge %age of most people's salary.

JJG1984

35 this year; wages where strong enough to have bought years ago but fast cars and luxury items i clearly couldn’t afford. Cleared £45k of debt and bought an amazing 4 bed, 3 bathroom family home and completed on November 27th 

DairyQueen

19 in 1979. Paid £18,500 for a 1 bed flat in Bucks. Nobody received help back then and the 10% deposit was all savings. Several moves later and mortgage-free in 2003. And, yes, that rapid rise in interest rates to 16% in the 1990s was a killer. I recall splitting payment of the electricity bill across two pay months as I was so skint.

steveamaniac

39, this year. Stuck in a rent trap for years but got there. 

claire111

1984 age 20 in Croydon with (newish) boyfriend. 1 bed flat for £30k which was 3 x joint salary, think the deposit was £500 which we borrowed from his gran. Within months they were selling for £32k which was out of our reach, so despite being very poor as interest rates rose to 14%, we still considered ourselves very lucky !

jackieblack

SpiderLegs said:

I don’t understand the point of this question

That’s because there isn’t one

ian1246

I was 26, my now Wife 23 - brought our first house - 3 bed Semi - together for £165,000 with a 25% deposit in November 2015 - in the West Midlands.

We re now 31 & 28 respectively, in the process of moving (March 2021 hopefully), having accepted an offer on our house of £193,000 & had an offer accepted on a detached 4 bed for £310,000, which we re putting a 25% deposit down on.  No help from bank of mum & dad!

steveamaniac

It’s definitely hard these days with rent being so high. I was in a rent trap for years until I got a better job. It is a worry for people how rent has sky rocketted.

TimSynths

First in the Midlands in 1999 @ 25. Zero deposit, 100% mortgage, a friend in financial services arranged it all for me as an investment, paid £50k for a 3 bed semi, rented it out (BTL Mortgage) till 2002 making about £30 a month after fees, sold it in early 2003 for £100k and moved to the southeast. Have 7.5 yrs left on current mortgage and started overpaying this June so hope to have it all wrapped up by this time 2025, after this year I want to be mortgage free and very secure as quickly as I can now. Glad I said "yes" when my mate Mark said "you should buy a house, I'll arranged everything for you". Wish I'd bought ten!

babyblade41

I was 18 . in 1982 ..oxfordshire