First Time Buyers - Just have a look at my plan please : )

scottp_2

poppy10 - I disagree, we are both grown up and mature enough to make long term decisions. At the end of the day, if we said we aren't doing this 'in case' we split up then what is the point in going out with some one? Let's not get married 'in case' we split up, let's not have a kid 'in case' we split up. Life is too short to think like that, I have seen lots of my older friends leave things too late because they think like that. I think 4 years is long enough to know that we aren't going to kill each other in the first week of living together!

LillyJ - Exactly, my GF's mum and dad had a house, a baby and got married when her mother was 16, they are still together now and won't have a mortgage in 2 yrs, when her mum turns 38. They are probably in the best position of all their friends. I haven't got a crystal ball, I couldn't tell you what I will be doing in 4 or 5 years, but I know that I want it to be with my GF and have a house together, so why mess around?

Jarlawuk - Thanks for that, I had a feeling that it may have been the case. Knowing that, I will get her a CC sorted out to put her fuel on and set up a DD to pay the full balance from our bills account, so she will have a nice little credit history when it comes to mortgage time. Thanks!

djdaface - Good on you for working hard to get a excellent salary. I understand what you mean; I wouldn't be able to afford a 1 bed flat in most places so I guess I am very lucky! It is silly how much some cars can cost you. I have gone from a 2.0 Turbo Diesel 206 to a 1.2 16v Petrol Corsa, and I spend about £80 a month more on fuel (I would have the 206 back now!). Driving is an expensive game, but I need it for work, otherwise there would be no money to buy a house! LOL
In regard to lessons at school, something needs to be done. I only got to where I am now (Bank manager at 18, which I don’t think is bad going) by working hard (very hard!) and manners get you everywhere. I suppose with most not having any, it is surprising to see good manners, rather than just expecting them. I tell every year 10 or 11 student I talk to the same thing, work your A$$ off now, and the rewards will come in time. I got 5 A*s, 2 As and 7 Bs at GCSE, and it is good to see people stunned when you put your CV on the table. If I had tossed school off like a lot of my friends (which is very easy to do now, people do not seem to care!) I would be at the job centre or stuck in a dead end job hating my life! Sorry for going on there!

dhassen - I know what you are saying, but I would rather pay mine rather than my landlords mortgage. Renting is good for some people, not me. It would never feel like or be my house, I wouldn't feel secure there.

Thanks again everyone!

not_tonight_josephine_2

Scott, first of all congratulations on your sensible and mature attitude, I hope that it allows you to achieve your financial goals. In common with a few other posters though, I would caution you against being in too much of a rush to buy a house with your partner.

Firstly, renting may seem like dead money to you, but so is a mortgage in many respects - for example if you take out a £100k 25 year mortgage you are likely to pay almost this amount again in interest over the life of the loan; rather than paying your landlord's mortgage you are paying the profits of the bank. All the time that property prices are falling/remaining stagnant you would be better off renting a small flat together (which will inevitably be cheaper than the mortgage payments on a house) and saving the remainder towards a substantial deposit which will lessen the interest costs on your mortgage, and probably entitle you to a lower interest rate (my advice would be to save at least 25% before thinking about buying). The recent (for the last few decades!) obsession with owning property in this country is unusual and doesn't really make sense in many ways.

Secondly, although I agree that you can't spend your life worrying about "what ifs", I do believe that you and your other half should try living together without the huge commitment of a house purchase first. I was in a long term relationship from the age of 16 to 22, and like you I believed it would last - unfortunately the sad fact is that at your age the odds are against your relationship lasting "for ever" (or as close as anyone gets these days). I can't see why you have such an objection to renting together (even just for 6 months) to find out how you get along in a 24x7 relationship. As neither of you have (I presume) ever lived with anyone other than your families you may find it somewhat of a shock to the system!

Having said that, you sound like an intelligent young man therefore I'm sure you will have considered these facts already so I know I'm unlikely to change your mind! But do please take it from one who's been there that if things do go wrong in your relationship the added complication of a house and morgage can just make things even more unpleasant and heartbreaking!

Best of luck.

scottp_2

Sorry it has taken me so long to reply, I have been studying hard on for my CeRGI!

not_tonight_josephine - From previous posts you can see my objections to renting. Another problem we have is that we have a Labrador (only a puppy at the minute) and I know landlords do not take kindly to pets. I know this is only a simple excuse, but this added to my other reasons make renting a big no no for me!

Thanks to everyone for their valuable input. I just can't wait to get everything sorted now!

dhassen

if your mind's made up it's made up. Good luck!