No option to buy? Single people

princeofpounds

RoisinDove said:

I am a single woman too. Earning a bit more than you, which means I should just about be able to afford a one-bed flat, but it's really hard. I am shocked to hear there is any 'priority' system for shared ownership - that seems like downright discrimination! Why should a couple be more deserving of it than you?

LOL - that's called an example of socialist policy. The rationing of scarce resources is done by social characteristics rather than price. Apart from the fact that it fails to incentivise supply by blunting price signals in the economy, it tends to mean that some people end up 'more equal' than others. And it turns out that different people have different ideas of what is fair distribution when you get down to the nitty-gritty.

littlemissbliss said:

 I seem to fail every time because i have a roof over my head and earning.  But I have rented for 18 years. 

But you can warm your heart with the social solidarity you are displaying. Owning a home costs money, but virtue is priceless.

littlemissbliss said:

Anyone else finding this?

Lots of people. Housing has become very expensive in this country (in some parts more than others). That's what happens if you dramatically restrict supply and demand is boosted by low interest rates, immigration, social patterns that lead to more household formation and so on.

You can afford land. You can afford building materials. What you can't afford is planning permission, the opportunity to provide your own home. 

Try writing to your MP and councillor, get them to support YIMBY policies.

Joking aside (because your boomer MP and councillor ain't going to do nothing about this), you're not as far behind as you may think you are. The average age of a first time buyer is roughly 34 now, slightly higher again in London and other expensive areas, and if you exclude those without parental assistance and government schemes it's roughly 40. It would probably be higher yet again if you broke out single people in their own category.

In addition, shared ownership eligibility rules do vary between providers. I'm no great fan of the idea (anything called a government 'scheme' normally has plenty of catches) but do cast your net widely.

Unfortunately in many more expensive areas, government house-buying support doesn't always go quite where it should. Key worker schemes aren't as fashionable as they used to be, but I remember a few years back in London there were lots of them. The irony was that London property prices being what they were, you actually couldn't buy these properties on a key worker salary or even two in many cases. So the people that ended up with them were often key workers with investment banker partners and similar types. To some extent, subsidising anyone's purchase of a house is welfare for the middle-classes. There's a good chunk of the population who will never have enough to own, though a subset of them do at least tend to hog the social housing provision.

If you're desperate to buy, the best things you can do are boost your income, get a partner and widen your search area and criteria.

littlemissbliss

ts21 said:

I just wanted to say I really sympathise! I live in London, looking to move to Surrey, and earn quite a bit more than you - but I'm 38 and I've spent many years in your position seeing that there was nothing I could afford. I worked my way up to get onto a higher salary which has helped. But just wanted to say I get it - to those saying that you should consider moving to a different area, I think that's really difficult to do alone - particularly when you're single and buying alone you don't necessarily want to move far away from friends and family, and there's work to consider too. I also find it frustrating that couples are being prioritised over you - it makes me angry that there are structural disadvantages to being single, even though you are not in any way a less worthy human!

Having had a quick search though for properties under £190k I think you will find something. eg:

https://www.rightmove.co.uk/properties/84619549#/

https://www.rightmove.co.uk/properties/104538221#/

https://www.rightmove.co.uk/properties/82808170#/

Thank you - that and its hard to move out of the area as the council need to give you permission (for shared ownership). I live in Surbiton which is very expensive , but anything within the 10 mile radius is ridiculous. 

The salary increase would be quite hard as Graphic Design has its limitations (even as a Senior which is what I am) and freelance which I am trying along side my job is very competitive. I am planning on asking for a pay rise next year

littlemissbliss

Angela_D_3 said:

littlemissbliss said:

AnnieB2018 said:

Surely you will need to buy a 1 bed hovel then, same as thousands of other young  and young-ish single people before you.

I am 40 - so i would rather not buy a hovel haha

You should have bought earlier then thats the bottom line

Wow haha
Yes life works that way.
I don't think you have any idea what my life situation was. I was in an abusive relationship and then he left me for a another women, leaving me with nothing. I think you should hold off making such offensive (and stupid) comments quite frankly. 

princeofpounds

littlemissbliss said:

Thank you - that and its hard to move out of the area as the council need to give you permission (for shared ownership). I live in Surbiton which is very expensive , but anything within the 10 mile radius is ridiculous. 

My top investment tip for the area is Chessington. Cheap, when everything around it (ok, apart from Tolworth) is crazy expensive (Esher, Epsom, Oxshott etc.)

OK, it's not the smartest suburb. But with Crossrail 2 likely at some stage, the connectivity will improve a lot, and it's not that bad at the moment as long as you can tolerate Southern Rail.

littlemissbliss

Irishpearce26 said:

Angela_D_3 said:

littlemissbliss said:

AnnieB2018 said:

Surely you will need to buy a 1 bed hovel then, same as thousands of other young  and young-ish single people before you.

I am 40 - so i would rather not buy a hovel haha

You should have bought earlier then thats the bottom line

Great advice, I bet you're a ray of sunshine at party's!

I know - I couldn't believe it when I read that. There are loads of reasons people can't buy earlier. Money, salary, Relationships, Savings, Location. Such a stupid comment...

littlemissbliss

balibeach said:

littlemissbliss said:

RoisinDove said:

I am a single woman too. Earning a bit more than you, which means I should just about be able to afford a one-bed flat, but it's really hard. I am shocked to hear there is any 'priority' system for shared ownership - that seems like downright discrimination! Why should a couple be more deserving of it than you?

Yeah there is - normally goes to families, homeless, those on the council list. Basically those who can't afford it. At least that's what i was told. I seem to fail every time because i have a roof over my head and earning.  But I have rented for 18 years. 

This surprises me, I was told that the only group who get priority for shared ownership properties are serving/ex members of the British armed forces. I suppose that different areas must have different rules though.

I’m in the middle or purchasing a shared ownership house in the north of England and the checks I had to pass were to do with affordability making sure that I could meet the mortgage plus rent payments, and that I don’t earn above a certain amount.

Without the shared ownership option there’s no way I’d be able to buy somewhere on my own with house prices as they are. 

In the London / Surrey area the housing association check with the council for those needing homes. Everyone fills in a form as to their circumstances. If there is a family or couple also applying, they will get first choice. 

littlemissbliss

princeofpounds said:

RoisinDove said:

I am a single woman too. Earning a bit more than you, which means I should just about be able to afford a one-bed flat, but it's really hard. I am shocked to hear there is any 'priority' system for shared ownership - that seems like downright discrimination! Why should a couple be more deserving of it than you?

LOL - that's called an example of socialist policy. The rationing of scarce resources is done by social characteristics rather than price. Apart from the fact that it fails to incentivise supply by blunting price signals in the economy, it tends to mean that some people end up 'more equal' than others. And it turns out that different people have different ideas of what is fair distribution when you get down to the nitty-gritty.

littlemissbliss said:

 I seem to fail every time because i have a roof over my head and earning.  But I have rented for 18 years. 

But you can warm your heart with the social solidarity you are displaying. Owning a home costs money, but virtue is priceless.

littlemissbliss said:

Anyone else finding this?

Lots of people. Housing has become very expensive in this country (in some parts more than others). That's what happens if you dramatically restrict supply and demand is boosted by low interest rates, immigration, social patterns that lead to more household formation and so on.

You can afford land. You can afford building materials. What you can't afford is planning permission, the opportunity to provide your own home. 

Try writing to your MP and councillor, get them to support YIMBY policies.

Joking aside (because your boomer MP and councillor ain't going to do nothing about this), you're not as far behind as you may think you are. The average age of a first time buyer is roughly 34 now, slightly higher again in London and other expensive areas, and if you exclude those without parental assistance and government schemes it's roughly 40. It would probably be higher yet again if you broke out single people in their own category.

In addition, shared ownership eligibility rules do vary between providers. I'm no great fan of the idea (anything called a government 'scheme' normally has plenty of catches) but do cast your net widely.

Unfortunately in many more expensive areas, government house-buying support doesn't always go quite where it should. Key worker schemes aren't as fashionable as they used to be, but I remember a few years back in London there were lots of them. The irony was that London property prices being what they were, you actually couldn't buy these properties on a key worker salary or even two in many cases. So the people that ended up with them were often key workers with investment banker partners and similar types. To some extent, subsidising anyone's purchase of a house is welfare for the middle-classes. There's a good chunk of the population who will never have enough to own, though a subset of them do at least tend to hog the social housing provision.

If you're desperate to buy, the best things you can do are boost your income, get a partner and widen your search area and criteria.

I know - they shouldn't be forcing people together. Dating has pretty much been put on hold with Covid - but even so - you don't base a relationship on getting a property. Then you find many have their own properties so it wouldn't be mine. The dating situation can take time. At the moment I am just saving, as someone said earlier - the only benefit I have is being able to save

littlemissbliss

ts21 said:

I just wanted to say I really sympathise! I live in London, looking to move to Surrey, and earn quite a bit more than you - but I'm 38 and I've spent many years in your position seeing that there was nothing I could afford. I worked my way up to get onto a higher salary which has helped. But just wanted to say I get it - to those saying that you should consider moving to a different area, I think that's really difficult to do alone - particularly when you're single and buying alone you don't necessarily want to move far away from friends and family, and there's work to consider too. I also find it frustrating that couples are being prioritised over you - it makes me angry that there are structural disadvantages to being single, even though you are not in any way a less worthy human!

Having had a quick search though for properties under £190k I think you will find something. eg:

https://www.rightmove.co.uk/properties/84619549#/

https://www.rightmove.co.uk/properties/104538221#/

https://www.rightmove.co.uk/properties/82808170#/

Thank you for sending these links.
Is there a simple way of searching for Help to Buy properties? I feel this could be an option if they are within the price range and not stupid like 400k

Tiglet2

littlemissbliss said:

I just wanted to know if there was anyone else in my situation.

I am a single female – and struggling like hell to get on the property ladder.

I am on a 37,000 pa salary and saving on average £700 month towards my deposit.

Unfortunately, Shared Ownership would be my only option as my lone salary wouldn’t allow me to borrow more then £166,000 and in surrey you can’t buy anything with that – even further out. I can’t do help to buy as the properties are still stupidly high. However, the issue I am running into with Shared ownership is I am never classed a ‘Priority’ – even on one bedrooms.

I mean its getting a tad ridiculous. I would have thought it would be based on if you could afford it, and reading that couples are classed more of a priority really annoys me.  I am on the edge of just giving up as there doesn't seem to be an option for those in my situation. At my age my friends have families so a house mate is out of the question. 

Anyone else finding this?

There isn't a lot of choice in your preferred area.  This studio apartment is very small, but it's not shared ownership or Help to Buy.  I think it would be a stretch, but it would be your start on the property ladder.  Since property in Surbiton is so expensive, this would be one way of staying in the area with your normal commute and in about 5 years time, you may be in a good position to move up to the next rung on the ladder.

https://www.rightmove.co.uk/properties/102074768#/

[Deleted User]

I think it's hard to secure a mortgage on anything under 30 square metres, so they go to cash buyers only.   RoisinDove had a thread about this last week.