No option to buy? Single people

Tiglet2

Durban said:

Tiglet2 said:

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#/

It can be difficult to get a mortgage on studio flats and can be difficult to resell later 

That's fair enough, so the OP has limited choices to buy something in the area that is just big enough to be able to obtain a mortgage, or move out of the area to something a little larger, thereby not being difficult to sell later.  However, in an area where getting on the property ladder is a challenge for average wage earners, I would have thought a studio would be snapped up.

SaintJudy

Durban said:

Angela_D_3 said:

Yawn.  Same my dear.  Still bought s house before meeting the abusive twit.  You should think yourself lucky you dont have 4 children to supoort and house too.  

What the hell is wrong with you. The OP is asking on here for some advice , not bitter comments such as yours.

OP - Difficult situation to be in.  Are you wanting to stay in Surrey because of the proximity to your job in London?   

Surrey can really be a very unaffordable county.  What about Kent towards the Dartford area. I know Dartford itself is not pleasant but how about looking at properties close by.  There really are some lovely villages in Kent close to good rail links.  It sounds as though you don't need to be close to good schools so that may make it more affordable for you.

Spot on. 'Advice' that requires a time machine is the most pointless advice anyone can ever give.

Anyway your point about Kent is good, it's exactly what I've just done. Single, mid 40's and on slightly less than the OP but I've just bought a 2 bed flat in Kent, in a village just outside Tonbridge and trains are about 50 mins to London Bridge. I had a good sized deposit which made the difference but there were definitely nice properties around here and even a bit into Sussex such as Crowborough or Uckfield that were in the 170-180 range.

It is doable, just not in Surbiton

Angela_D_3

SaintJudy said:

Durban said:

Angela_D_3 said:

Yawn.  Same my dear.  Still bought s house before meeting the abusive twit.  You should think yourself lucky you dont have 4 children to supoort and house too.  

What the hell is wrong with you. The OP is asking on here for some advice , not bitter comments such as yours.

OP - Difficult situation to be in.  Are you wanting to stay in Surrey because of the proximity to your job in London?   

Surrey can really be a very unaffordable county.  What about Kent towards the Dartford area. I know Dartford itself is not pleasant but how about looking at properties close by.  There really are some lovely villages in Kent close to good rail links.  It sounds as though you don't need to be close to good schools so that may make it more affordable for you.

Spot on. 'Advice' that requires a time machine is the most pointless advice anyone can ever give.

Anyway your point about Kent is good, it's exactly what I've just done. Single, mid 40's and on slightly less than the OP but I've just bought a 2 bed flat in Kent, in a village just outside Tonbridge and trains are about 50 mins to London Bridge. I had a good sized deposit which made the difference but there were definitely nice properties around here and even a bit into Sussex such as Crowborough or Uckfield that were in the 170-180 range.

It is doable, just not in Surbiton

The person was complaining about what she could afford - it actually wasnt the OP that made the comment about being older and wanting a bit of comfort- hardly an unreasonable request- but what youve quoted is out of context.  

SaintJudy

Angela_D_3 said:

SaintJudy said:

Durban said:

Angela_D_3 said:

Yawn.  Same my dear.  Still bought s house before meeting the abusive twit.  You should think yourself lucky you dont have 4 children to supoort and house too.  

What the hell is wrong with you. The OP is asking on here for some advice , not bitter comments such as yours.

OP - Difficult situation to be in.  Are you wanting to stay in Surrey because of the proximity to your job in London?   

Surrey can really be a very unaffordable county.  What about Kent towards the Dartford area. I know Dartford itself is not pleasant but how about looking at properties close by.  There really are some lovely villages in Kent close to good rail links.  It sounds as though you don't need to be close to good schools so that may make it more affordable for you.

Spot on. 'Advice' that requires a time machine is the most pointless advice anyone can ever give.

Anyway your point about Kent is good, it's exactly what I've just done. Single, mid 40's and on slightly less than the OP but I've just bought a 2 bed flat in Kent, in a village just outside Tonbridge and trains are about 50 mins to London Bridge. I had a good sized deposit which made the difference but there were definitely nice properties around here and even a bit into Sussex such as Crowborough or Uckfield that were in the 170-180 range.

It is doable, just not in Surbiton

The person was complaining about what she could afford - it actually wasnt the OP that made the comment about being older and wanting a bit of comfort- hardly an unreasonable request- but what youve quoted is out of context.  

You've lost me completely, where in the comment I replied to, or in my reply is anything about being older and wanting comfort? Or are you trying to backpeddle a bit on your mean and unhelpful 'advice'?

littlemissbliss

L_T_88 said:

littlemissbliss said:

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. 

This may well be true in many schemes which are delivered through Section 106, but not necessarily in that case or where HAs deliver the homes themselves.

For example, we were looking at a development in Horley, in our neighbouring borough but were down the list on the allocations policy (not strong enough connection, not on Housing List) which the Council had put in as part of the S.106.

We have now found a property in West Sussex, in another neighbouring borough. There are no allocations requirements set by the Local Authority as part of the S.106.

Find out what your Local Authority's (LB of Kingston?) allocations policy is. For your wage you can join the Council's Housing List, it's unlikely you'll ever be offered a social rent home through it, but may bump you up the priority list when competing for an SO home compared to someone else not on a Housing List.

I would also consider moving further out into Surrey or Sussex. Surbiton is still in a London Borough and prices reflect that. 

I am already on the Housing List for Kingston Upon Thames - but still not on the priority list. Plus the property prices are so expensive in this area. I do tend to get stuck with the 'we prioritise those who work and live in the local area' gag.

littlemissbliss

Mickey666 said:

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?

Yes.  I had exactly the same issue, though from the male perspective.  I was earning decent money as a graduate but my salary would only fund enough of a mortgage to buy really grotty houses in grotty areas.  However, as soon as my GF graduated and got a job with a similar salary the increased joint mortgage we could suddenly afford opened up a whole new area of opportunity and we were able to buy a decent terraced house in a lovely village in the home counties commuter belt.  We've never looked back.

Oh yes, this was in the early 1980s.

My point is that a single FTB has always found it harder to buy a house than a couple - for obvious reasons.  In that respect, it's less to do with changes to the housing market over the past 40 years and more to do with changing demographics.

My nieces/nephews are all married, as are many of my friend's children and they've all managed to buy their first homes without commanding huge salaries.  They are mostly teachers, nurses, council office staff, uni admin, retail managers, that sort of thing - not high-flying corporate lawyers or bankers in the city.

I used to wonder how it is that with all the 'problems' of ever-rising house prices these 'ordinary' couples have managed to buy their first homes in their mid-late 20's.  I'm beginning to conclude it is precisely BECAUSE they are married, or at least partners sharing their finances.  

I'm in no way denying the house market is not tough for FTBs.  It clearly is and I can remember how frustrating it can be . . . . I'm just pointing out that this is nothing new or specific to today's market conditions.  T'was ever thus.

No i agree....its just frustrating because I feel I have to rush into a relationship - and lets face it. Its not fair on the guy either. I mean already id have to take a mortgage out over 20 years due to my age (40), and the older you get the harder it is. There should be more help for those who are single

littlemissbliss

Indigo_and_Violet said:

I think it's been mentioned before, but I do think you could push yourself a bit more on the saving. 
£37k translates to about £2,400 per month, so you're currently spending £1,700 and saving £700.
Lots of advice on these boards about how to cut down your outgoings and increase your income.
As someone who took a paycut later in life I know it's hard when you feel like you've got to a particular age and you deserve to be able to have a few treats and buy things from the same shops all your friends do, but for the next 12-18 months you've effectively got double housing costs (rent and deposit saving) and being able to hunker down and build that deposit will make a big difference to your financial position in the longer term. 

Thats called paying the bills
I hardly spend money on myself, i don't have a car, no dependants and no loans. Its just bills.
I have cut down as much as i can - but i do have a 750 rent to pay (which is the cheapest i can get in the surrey area unless i want to live in a box). I have lived here for 18 years and its never gone up. My parents live in Grimsby Town and i have a career in London. As a single women i feel safe in the area I live. I currently have 9,000 and estimate to have 20,000 by summer of next year. So i am not complaining - just frustrated at the shared ownership scheme. I am of course frustrated at the stupidly high prices - as that is what they are. Stupid. 

littlemissbliss

FTB_Help said:

Wow! It's toxic on this thread, best put on a hazmat suit while im here.

Getting major throw back to 15yrs ago at my all girls school!

@littlemissbliss all i can advice is just keep saving, keep looking for ways to cut back on something, whether it's switching to a cheaper mobile, shopping in lidl basic, or even cancelling some of your streaming subscriptions.

Yes you could have probably been better with your finances in the past but whats the point in telling you something you can't change.

Just keep going, you'll get there in the end.

No Lidl near me, mobile is paid off, mum pays for streaming services (well she pays for multiple accounts). I literally just pay bills which I have cut back on as much as I can. I have lived here for 18 years and the rend have never gone up - hence why my rent is £750 a month and not £15000 a month. My parents live up north and my career is down here. 
Re the past - i was in a hard relationship for 18 years and i was on a lower salary. :-)

littlemissbliss

Deleted_User said:

FTB_Help said:

Wow! It's toxic on this thread, best put on a hazmat suit while im here.

Getting major throw back to 15yrs ago at my all girls school!

@littlemissbliss all i can advice is just keep saving, keep looking for ways to cut back on something, whether it's switching to a cheaper mobile, shopping in lidl basic, or even cancelling some of your streaming subscriptions.

Yes you could have probably been better with your finances in the past but whats the point in telling you something you can't change.

Just keep going, you'll get there in the end.

Agree. Although most responses are helpful, there are a few that show a remarkable lack of empathy for the OP and her situation. 

@littlemissbliss - Only you know your financial situation but it might be worth going through and seeing where you can make cutbacks (if indeed, you can). I've realised that I really don't need much to live off - food, petrol, rent and bills. Cutting back on all the non-essentials can make a remarkable difference over the course of a couple of years. Good luck!

I know. Thankfully I have no car bills, loans or dependants - but i have bills to pay and haven't got the luxury to sponge off anyone else. Everyone's life works differently which is why the government really needs to take this housing shortage seriously for everyone.

littlemissbliss

Poster_586329 said:

Indigo_and_Violet said:

I think it's been mentioned before, but I do think you could push yourself a bit more on the saving. 
£37k translates to about £2,400 per month, so you're currently spending £1,700 and saving £700.
Lots of advice on these boards about how to cut down your outgoings and increase your income.
As someone who took a paycut later in life I know it's hard when you feel like you've got to a particular age and you deserve to be able to have a few treats and buy things from the same shops all your friends do, but for the next 12-18 months you've effectively got double housing costs (rent and deposit saving) and being able to hunker down and build that deposit will make a big difference to your financial position in the longer term. 

The explanation is surely that OP is spending £1400 or so a month on rent and bills for a 1-bed flat.

Houseshares that'll accept (or be acceptable for) a 40 year old aren't that common.  Lodging with a family might be an option but difficult when you're used to having your own space and not being accountable to anyone else in your home.

Either that or OP really loves avocado toast!!

Nah - hate toast
Others might hate my HITT work outs though haha

Yeah at 40 you want your own space. I moved out at the age of 20 and thought me and my bf of 18 years was saving together until he took off with another women and bought a house with her. 
My parents are up north and my job is down sound hence the issue