Can't see myself buying my first house any time soon

RelievedSheff

Have you considered moving further afield to a cheaper location? 

wjr4

Look into shared ownership. 

onylon

You need to make yourself a more attractive proposition for the mortgage providers.

1. Buy jointly with a close friend or family member who you really really trust and is in a similar position to yourself.

2. Increase your salary. Does your company offer training and/or help with the cost of exams? Skilling up in your own time can really pay off in the long run.

3. Consider cheaper properties. It sounds like you have increased your search area but are still centering your search around your current location. If you look at other parts of the UK it will give you more options.

penners324

I've just sold my 1st property, a flat, for £175k.

Exactly the same style up for sale at £180k at present as well.

In Leighton Buzzard 

[Deleted User]

Yes, it's very difficult at the moment and prices continue to rise faster than most people can save up.

Obviously finding a better paid isn't easy or you would have done it, and moving far away often makes little difference as wages are comparatively lower there too. That said, if you are willing to move to Scotland or can get a visa for the EU, there are opportunities.

Keep an eye on your age too. Once you hit about 42-43 it will be difficult to get a 25 year mortgage, as the bank will assume you will retire at 68 (current retirement age). Similarly 32-33 for a 35 year mortgage.

Most people in your position who manage to buy something have help from their families. Free money from their parents, inheritance, that kind of thing. I guess you have thought about that too.

Sadly there are very few options if you are unwilling to emigrate.

lookstraightahead

[Deleted User] said:

Yes, it's very difficult at the moment and prices continue to rise faster than most people can save up.

Obviously finding a better paid isn't easy or you would have done it, and moving far away often makes little difference as wages are comparatively lower there too. That said, if you are willing to move to Scotland or can get a visa for the EU, there are opportunities.

Keep an eye on your age too. Once you hit about 42-43 it will be difficult to get a 25 year mortgage, as the bank will assume you will retire at 68 (current retirement age). Similarly 32-33 for a 35 year mortgage.

Most people in your position who manage to buy something have help from their families. Free money from their parents, inheritance, that kind of thing. I guess you have thought about that too.

Sadly there are very few options if you are unwilling to emigrate.

Loads of banks offer mortgage past 70 - lots of people don't do the normal retiring thing nowadays as the benefit the younger generation have is that they will on average live longer.

most people don't have help from their families surely? 

Buying too young can be a burden. Because as you say, some want to travel (although you call it emigrate).

You can earn quite a lot if you are willing to move and happy to house share.

[Deleted User]

lookstraightahead said:

[Deleted User] said:

Yes, it's very difficult at the moment and prices continue to rise faster than most people can save up.

Obviously finding a better paid isn't easy or you would have done it, and moving far away often makes little difference as wages are comparatively lower there too. That said, if you are willing to move to Scotland or can get a visa for the EU, there are opportunities.

Keep an eye on your age too. Once you hit about 42-43 it will be difficult to get a 25 year mortgage, as the bank will assume you will retire at 68 (current retirement age). Similarly 32-33 for a 35 year mortgage.

Most people in your position who manage to buy something have help from their families. Free money from their parents, inheritance, that kind of thing. I guess you have thought about that too.

Sadly there are very few options if you are unwilling to emigrate.

Loads of banks offer mortgage past 70 - lots of people don't do the normal retiring thing nowadays as the benefit the younger generation have is that they will on average live longer.

most people don't have help from their families surely? 

Buying too young can be a burden. Because as you say, some want to travel (although you call it emigrate).

You can earn quite a lot if you are willing to move and happy to house share.

The majority of first time buyers have help from their families, either bank of mum and dad or inheritance. That's the reality in 2022.

Getting_greyer

[Deleted User] said:

lookstraightahead said:

[Deleted User] said:

Yes, it's very difficult at the moment and prices continue to rise faster than most people can save up.

Obviously finding a better paid isn't easy or you would have done it, and moving far away often makes little difference as wages are comparatively lower there too. That said, if you are willing to move to Scotland or can get a visa for the EU, there are opportunities.

Keep an eye on your age too. Once you hit about 42-43 it will be difficult to get a 25 year mortgage, as the bank will assume you will retire at 68 (current retirement age). Similarly 32-33 for a 35 year mortgage.

Most people in your position who manage to buy something have help from their families. Free money from their parents, inheritance, that kind of thing. I guess you have thought about that too.

Sadly there are very few options if you are unwilling to emigrate.

Loads of banks offer mortgage past 70 - lots of people don't do the normal retiring thing nowadays as the benefit the younger generation have is that they will on average live longer.

most people don't have help from their families surely? 

Buying too young can be a burden. Because as you say, some want to travel (although you call it emigrate).

You can earn quite a lot if you are willing to move and happy to house share.

The majority of first time buyers have help from their families, either bank of mum and dad or inheritance. That's the reality in 2022.

I didn't know that tbh. I'd always assumed parents tried to pass on wealth to 40/50 yr old s just prior to inheritance tax etc.  I wonder what the average bank of mum and dad help is.

Owleyes00

Getting_greyer said:

[Deleted User] said:

lookstraightahead said:

[Deleted User] said:

Yes, it's very difficult at the moment and prices continue to rise faster than most people can save up.

Obviously finding a better paid isn't easy or you would have done it, and moving far away often makes little difference as wages are comparatively lower there too. That said, if you are willing to move to Scotland or can get a visa for the EU, there are opportunities.

Keep an eye on your age too. Once you hit about 42-43 it will be difficult to get a 25 year mortgage, as the bank will assume you will retire at 68 (current retirement age). Similarly 32-33 for a 35 year mortgage.

Most people in your position who manage to buy something have help from their families. Free money from their parents, inheritance, that kind of thing. I guess you have thought about that too.

Sadly there are very few options if you are unwilling to emigrate.

Loads of banks offer mortgage past 70 - lots of people don't do the normal retiring thing nowadays as the benefit the younger generation have is that they will on average live longer.

most people don't have help from their families surely? 

Buying too young can be a burden. Because as you say, some want to travel (although you call it emigrate).

You can earn quite a lot if you are willing to move and happy to house share.

The majority of first time buyers have help from their families, either bank of mum and dad or inheritance. That's the reality in 2022.

I didn't know that tbh. I'd always assumed parents tried to pass on wealth to 40/50 yr old s just prior to inheritance tax etc.  I wonder what the average bank of mum and dad help is.

Almost everyone I know my age (late 20s/early 30s) who has bought somewhere has had some kind of help be it a gift from parents or inheritance from grandparents. We had both - my partner inherited £32.5k and my parents gifted me £30k. We also put in £24k of our own but are under no illusions that we wouldn’t have a house anything like what we have ended up with without significant financial help and it is extremely unfair that we were able to this and others are not.

MovingForwards

Getting_greyer said:

[Deleted User] said:

lookstraightahead said:

[Deleted User] said:

Yes, it's very difficult at the moment and prices continue to rise faster than most people can save up.

Obviously finding a better paid isn't easy or you would have done it, and moving far away often makes little difference as wages are comparatively lower there too. That said, if you are willing to move to Scotland or can get a visa for the EU, there are opportunities.

Keep an eye on your age too. Once you hit about 42-43 it will be difficult to get a 25 year mortgage, as the bank will assume you will retire at 68 (current retirement age). Similarly 32-33 for a 35 year mortgage.

Most people in your position who manage to buy something have help from their families. Free money from their parents, inheritance, that kind of thing. I guess you have thought about that too.

Sadly there are very few options if you are unwilling to emigrate.

Loads of banks offer mortgage past 70 - lots of people don't do the normal retiring thing nowadays as the benefit the younger generation have is that they will on average live longer.

most people don't have help from their families surely? 

Buying too young can be a burden. Because as you say, some want to travel (although you call it emigrate).

You can earn quite a lot if you are willing to move and happy to house share.

The majority of first time buyers have help from their families, either bank of mum and dad or inheritance. That's the reality in 2022.

I didn't know that tbh. I'd always assumed parents tried to pass on wealth to 40/50 yr old s just prior to inheritance tax etc.  I wonder what the average bank of mum and dad help is.

£0 for me and all my friends as FTBers.

I knew one 2nd time buyer who purchased, due to an inheritance and divorce settlement.