First-time Buyers 17 And 21

sunkissedblonde

my wages is needed as i still would be contributing towards the monthly re-payments. I dont want to divulge personal info am only asking for how to go about looking into one and what is involved in the process, after we find a house we like and is reasonable read the first thread i wrote the you will see my dear.

ThriftyBeanie

sunkissedblonde wrote: »

i do believe i just said if u want to throw any criticism dont bother.that applies to u too mate

SKB, I think you are a WUM.

BUT, if I am wrong, and you really are who you say you are, I shall offer some advice:

Finish your childhood, then come back and join in the conversation with the rest of the grown-ups.;)

sunkissedblonde

dave, I dont think i over-reacted but there we go.
Thankyou for the advice, in your opinion would renting be the best option in my scenario until we can save the money to buy?

sunkissedblonde

a WUM? and i need to grow up ? this is an adult forum as far as i am aware, if you are one then act it. Try and make sense, I know its heard but maybe u could learn a proper english vocabulary then return from childhood, take your own advice sweetheart.

sunkissedblonde

The house prices in northampton arent to be found under 90 000
thats the problem, very big step, with not very big income.

epsilondraconis

If I were you sunkissedblonde I would hold off from buying just yet.

I believe you could use the next 6 months or even 24 months to do the following:

1. Begin saving as much as you can. Not only will you then have a larger deposit, which you will need, but you will also have be in the correct mindset for taking on the mortgage. There are many costs asscoiated with running a home of which I'm sure you're already aware.

2. Review the local housing market to see what type of property you would like. You could then monitor the prices to ensure you buy the home of your choice for a price that you are happy with.

Ultimately you both want to enjoy your new home, the problem is that if you start off saddled with a huge debt, your life will suffer because you won't have any money to socialise and you will feel trapped. When this happens, many people find that they very quickly become defensive and irritable at the slightest things and they begin perceiving genuine helpful comments as criticism. All I would say is that you should be careful that it doesn't happen to you...

LillyJ

sunkissedblonde wrote: »

my wages is needed as i still would be contributing towards the monthly re-payments. I dont want to divulge personal info am only asking for how to go about looking into one and what is involved in the process, after we find a house we like and is reasonable read the first thread i wrote the you will see my dear.

I am not sure why you are being so defensive. You will not be able to count your wages towards the mortgage as you are not 18. That is why I said it, it is law, I am not be being ageist.

You won't tell us your figures, we can't help and then get all annoyed because we can't help. Can you even tell us the price of the houses you looked at (you said you saw some you liked) and then we can give you a savings figure to aim for?

An example. I am 23 my partner is 23 (age is irrelevant however if you are over 18) We earn joint 60k a year. We are spending 18k of savings in the property including deposit. The property costs 135k.

That might give you some ideas of the figures involved.

sunkissedblonde

my wages will contribute against the repayments so i am not sure what you are meaning their is not a law from me contributing if the payments are made under his name.

LillyJ

Ok now we are getting somewhere. To buy for 90 grand you will need

9 grand deposit minimum
2 grand fees and solicitors minimum

Therefore you will need 11 grand or more before you can start thinking about buying.

Your boyfriend will need to be earning probably about 30k a year to make it affordable.

If you save you could save 11 grand in the next 2 years, then you will be able to afford to buy hopefully.

LillyJ

sunkissedblonde wrote: »

my wages will contribute against the repayments so i am not sure what you are meaning their is not a law from me contributing if the payments are made under his name.

YES THERE IS A LAW. YOU CANNOT BE ON THE MORTGAGE, THEREFORE FOR MORTGAGE PURPOSES YOUR WAGES CANNOT BE TAKEN IN TO ACCOUNT. YOU ARE UNDER 18. THEREFORE THE CRITERIA USED FOR YOU TO GET A MORTGAGE WILL HAVE TO BE BASED ON YOUR BOYFRIEND'S INCOME ALONE.

Sorry to shout but I am wondering why you are being defensive about this.