Head or heart? Close to exchange on FTB but should we pull out?

Eon4

Hi

I do not claim to have any profssional financial advice to give you but I can sympathise with your inability to save....we are very similar despite having a an "ok" income on paper !! (I don't know where our money goes yet we are not obviously extravagant!! That's life I suppose!)

There seem to be an awful lot of figures being thrown around here on predictions to overpay and crystal ball guesses at what the economy might do over the next few years.

I agree with Glen8 at the start of this thread, you only get one shot at this life and it is all about happiness.....how happy would you be to stay and save? How happy would you be committing to your house? Will your quality of life be affected more by one choice than the other? Only you and your wife can decide that.

I feel for your dilemma as lots of people want reassurance now and it just isn't there. Good luck with your decision!

xx

zebulon

Tozer wrote: »

, British people regard property ownership as incredibly important. This isn't the same throughout the world.

Very good point :beer:

"incredibly important" might be an understatement though - I see it more like an "obsession"

Here are the main words I learnt from watching TV in this country:
"POTENTIAL" , "PROPERTY LADDER" , "PERIOD FEATURES" , "NEUTRAL COLORS"

Good Luck OP with whatever you decide.
(but in any case, do make some savings, even if not to buy a house, you can do it!)

Badger_Lady

Sorry if this has been mentioned...

What worries me is that, if you do "overpay like mad", you won't be able to get it back again easily. I realise that's the idea, being undisciplined savers! But it's also a risk.

Between you, you could whack up to £600 a month into a cash ISA instead, earning slightly more interest than you'd be saving in overpayments, and you'd have the security of being able to choose what to do with that nest-egg. When it comes to remortgaging, you can still use it as a deposit, but you will also have more choices.

Do you think this would be an option, setting up ISA accounts with a Direct Debit that you just ignore..?

If you're truly serious about living there long-term, have all the emotional commitment you appear to have, and can easily afford the repayments (even when they go up in 3 years time and no-one will remortgage you), go for it...

poppy10_2

What makes you think you will be able to "overpay like mad" when you haven't been able to save even a 5% deposit all these years?