1st time buyers

Kavanne

I am 20 and moved in with my bf... we'll have been living together in rented for 1 yr (together for 4.5) when we complete on our house. Renting first really is the best decision, what if it all goes tits up?

Ian_Griffiths_Halifax

I would generally advise, in situations where my client are not able to get a mortgage for whatever reason and who choose to rent, that when they know what a mortgage WOULD HAVE COST had they been able to get it, that they put the difference between their Rent payments and the Mortgage payments into a savings account.

If there isn't and money to put into savings as their rent is higher, then perhaps they need to look at renting for less, going out less, eating less take-aways, take sandwiches to work, cutting back on unnecessary expenditure and any reduction in outgoings needs to go into the savings. If they could afford to pay the high outgoings before going through this process, then they surely can put the money into savings.

Ask family/friends for cash instead of birthday/Christmas presents. Even if it's £100 from parents, £20 from granny etc etc, it all adds up, and they will feel that they are doing you a favour and it also saves them looking round the shops for presents!