advice please on landlord selling my rented house

pinkshoes

ejh18 wrote: »

That's very harsh. I have been renting for years, solely because I did not have a hope in !!!! of being able to afford a place to buy. Every spare penny I have has been going towards saving for a deposit, and me and my OH have been working hard in our careers to increase our salaries, which has only now paid off. It doesn't happen overnight though, and for some the housing ladder will be perpetually be out of reach. I have never had any debt except student loans, and I am not the stereotype FTB in their late 20's with a new car, flash clothes and exotic holidays. Six months ago, house prices in the cheaper areas around us were 6x our combined income, but we were earning more than many. Who would give us a mortage with that kind of multiplier? It is not all about the deposit. Me and my OH now have very decent salaries due to recent increases, but we do not live like we do as we are saving up to buy, and rent is very expensive. 10 years ago, people in professions such as ours would have been able to afford a 4 bed house, now they can only afford a 2 bed flat. House price rises have widely out-stripped rises in wages, but you already know that.

I realise I'm rambling, but reading your post has really angered me. Its really heartbreaking to work hard for your money, but never be able to afford what others take for granted.

I don't think people like you where who Snooze was referring to!! You yourself are an excellent example of work hard, save, and earn the right to own your own home.

If I could have £1 for every time I hear someone moaning about house prices, and that they'll never be able to afford one, yet at the same time having £100s of make-up, uber-expensive clothes, buying ridiculous priced drinks in posh bars/clubs, driving inefficient expensive cars etc... then I'd be rich!

It's like people think it's their god given right to own a home, with no effort required on their behalf. My parents bought their first house about 35 years ago, and boy did they go without so many things, and saved their ar*es off for that 10% deposit.

One of my best friends is like this, and frequently moans that she now struggles to pay her interest only mortgage on her flat. Hmmmm, nothing to do with the £200 a week she blows on alcohol, clothes and socialising then??? She's my best mate, and I love her to bits, but her "I want it all" attitude is just SO wrong!

Snooze

ejh18 wrote: »

That's very harsh. I have been renting for years, solely because I did not have a hope in !!!! of being able to afford a place to buy. Every spare penny I have has been going towards saving for a deposit, and me and my OH have been working hard in our careers to increase our salaries, which has only now paid off. It doesn't happen overnight though, and for some the housing ladder will be perpetually be out of reach. I have never had any debt except student loans, and I am not the stereotype FTB in their late 20's with a new car, flash clothes and exotic holidays. Six months ago, house prices in the cheaper areas around us were 6x our combined income, but we were earning more than many. Who would give us a mortage with that kind of multiplier? It is not all about the deposit. Me and my OH now have very decent salaries due to recent increases, but we do not live like we do as we are saving up to buy, and rent is very expensive. 10 years ago, people in professions such as ours would have been able to afford a 4 bed house, now they can only afford a 2 bed flat. House price rises have widely out-stripped rises in wages, but you already know that.

I realise I'm rambling, but reading your post has really angered me. Its really heartbreaking to work hard for your money, but never be able to afford what others take for granted.

In reply to you and the OP who said pretty much the same thing - you can rant and rave about it as much as you want but it's the truth.

The same applies now to what it did in the 80s when I bought my first house and all the years before that too - being able to afford your own house is something that only the well-off should be able to do. Everyone these days thinks that they've got some right to one (not helped by the banks handing out money to all & sundry, admittedly) and then people wonder why they're struggling to keep up their repayments on a £150k mortgage when they're only bringing home £10k per year. :rolleyes:

Neither my parents nor their parents were able to afford their own houses and lived in LHA houses, just as I did for a considerable amount of time until I'd saved enough money in order to buy my own. There was none of this "we'll lend you 23.5 times your income / 125% LTV" crap from the banks back then and the only way to own your own house was to have a good paying job and a nice pot of savings for your deposit.

This is the reason why the housing market is in the mess it's in now and the sooner people such as FTBs get it into their heads that the world does not owe them a house, the better. :rolleyes:

In answer to your question 'neas', 2000, and since been sold.

Rob

scorpio_princess

ejh18 wrote: »

That's very harsh. I have been renting for years, solely because I did not have a hope in !!!! of being able to afford a place to buy. Every spare penny I have has been going towards saving for a deposit, and me and my OH have been working hard in our careers to increase our salaries, which has only now paid off. It doesn't happen overnight though, and for some the housing ladder will be perpetually be out of reach. I have never had any debt except student loans, and I am not the stereotype FTB in their late 20's with a new car, flash clothes and exotic holidays. Six months ago, house prices in the cheaper areas around us were 6x our combined income, but we were earning more than many. Who would give us a mortage with that kind of multiplier? It is not all about the deposit. Me and my OH now have very decent salaries due to recent increases, but we do not live like we do as we are saving up to buy, and rent is very expensive. 10 years ago, people in professions such as ours would have been able to afford a 4 bed house, now they can only afford a 2 bed flat. House price rises have widely out-stripped rises in wages, but you already know that.

I realise I'm rambling, but reading your post has really angered me. Its really heartbreaking to work hard for your money, but never be able to afford what others take for granted.

To the OP, I would do everything scorpio princess suggested. Don't make life easy for her, move out and wash your hands of it. She probably won't sell in six months, so she may also look for other tenants if she can't afford the mortgage. Don't forget to tell them her plans if any look around!

Well said ejh!

I'm sick of the 'haves' looking down on the 'have nots' declaring that they should be working harder. It is NOT that black and white! If only the ability to buy a house was solely reliant on working hard - we all know it is not. Of course, working hard and progressing in your career are all good things, and you're heading in the right direction if you can do that, but some people are not so fortunate. You might live in an area with high unemployment, or have a disability which puts you at a disadvantage of progressing in the job market (welcome to my world - and no, it's not an excuse, it's a reality). The crazy house price bubble is also compounded if you're a singleton - unless I go out and find the nearest man and say 'you'll do', I don't have a hope in hell of ever owning a home again (I did buy a flat in 2001 with an ex - it all went sour and ended up selling in 2002). How things are at the moment, i'd need to earn 40k a year +, and salaries like that aren't all that common where I live!

So please, let's stop with the you-youngsters-want-it-all-and-don't-want-to-work-for-it attitude. Like ejh, I also save what I can, which isn't easy as i'm on a low income, paying a disproportionate amount in rent. It's very easy to get demoralised when you see that after a year of saving hard, you only have about a grand saved - oh well, only another 50 years to go before i'll have a decent deposit...:rolleyes:

scorpio_princess

pinkshoes wrote: »

I don't think people like you where who Snooze was referring to!! You yourself are an excellent example of work hard, save, and earn the right to own your own home.

If I could have £1 for every time I hear someone moaning about house prices, and that they'll never be able to afford one, yet at the same time having £100s of make-up, uber-expensive clothes, buying ridiculous priced drinks in posh bars/clubs, driving inefficient expensive cars etc... then I'd be rich!

It's like people think it's their god given right to own a home, with no effort required on their behalf. My parents bought their first house about 35 years ago, and boy did they go without so many things, and saved their ar*es off for that 10% deposit.

One of my best friends is like this, and frequently moans that she now struggles to pay her interest only mortgage on her flat. Hmmmm, nothing to do with the £200 a week she blows on alcohol, clothes and socialising then??? She's my best mate, and I love her to bits, but her "I want it all" attitude is just SO wrong!

I do agree with you pinkshoes, especially that last bit. I also have a couple of friends (who incidentally live with their partners and are taking home approx 50k in total) who constantly moan about having no money. Hmmm nothing to do with the Sky HD, the living rooms that come straight out of the Next catalogue, the GTI cars...

Yes, we all like nice things, but some people seem completely unable to decide what is a need and what is a want. The other day my friend told me how pleased she was on getting some 'bargain' curtains - £75!!! I thought she was going to say they were a tenner or something!

I really do try to share all the moneysaving tips I pick up on these boards, but they fall on deaf ears

PasturesNew

Snooze wrote: »

Everyone has a choice so please don't come with that sob-story. :rolleyes: The problem with the people in this country is they prefer to !!!! their hard earned money down their necks and/or get themselves up to the eyeballs in credit card debt instead of living within their means and SAVING. Yes, SAVING ! Anyone remember that word? :rolleyes:

If people saved then they'd be able to buy things that cost a lot of money, like houses!

The choice is yours....

Rob

This is untrue in many areas.
In 2007 many houses went up in price £20-30k.
In 2006 they had already gone up £20+k

If you were saving for a deposit you could never outpace the HPI.

The figures simply never added up.

Even on smaller/cheaper houses it got to the point where they were increasing £6-7k/year.

PasturesNew

Snooze wrote: »

Neither my parents nor their parents were able to afford their own houses and lived in LHA houses, just as I did for a considerable amount of time until I'd saved enough money in order to buy my own.

You're lucky to have got an affordable LHA house to rent that enabled you to save. It's not available to many people in many areas.

Where I grew up, the list was 20+ years long in the early 80s for a single person. In that town private rents were prohibitively high.

I moved about 10 years ago - and that area too is 4-5 years for a HIGH priority household. Over 20 years (if ever) for single people.

You had your leg up.
That leg up is not available everywhere. Not even back when you had it.

scorpio_princess

Snooze wrote: »

Neither my parents nor their parents were able to afford their own houses and lived in LHA houses, just as I did for a considerable amount of time until I'd saved enough money in order to buy my own. Rob

Sorry, but if you were living in a council house (and paying considerably less in rent than you would have done if you were renting privately, as many of us who can't afford to buy are) then you can't really say that you know what we're talking about! You cannot get a council house for love nor money these days - the only people that get them now are those that cannot or will not work for whatever reason. If you are on a low to moderate income, have no children or disabilities that require you to need a house with adaptations etc, then you won't get any 'points' that would enable you to get housed by the council. Simple as that.

If I was living in a council place and paying £70 a week in rent, I would be able to save a couple of hundred pounds more per month and therefore boost my deposit fund considerably. It ain't going to happen!

Captain_Mainwaring_2

scorpio_princess wrote: »

Well said ejh!

I'm sick of the 'haves' looking down on the 'have nots' declaring that they should be working harder. It is NOT that black and white! If only the ability to buy a house was solely reliant on working hard - we all know it is not. Of course, working hard and progressing in your career are all good things, and you're heading in the right direction if you can do that, but some people are not so fortunate. You might live in an area with high unemployment, or have a disability which puts you at a disadvantage of progressing in the job market (welcome to my world - and no, it's not an excuse, it's a reality). The crazy house price bubble is also compounded if you're a singleton - unless I go out and find the nearest man and say 'you'll do', I don't have a hope in hell of ever owning a home again (I did buy a flat in 2001 with an ex - it all went sour and ended up selling in 2002). How things are at the moment, i'd need to earn 40k a year +, and salaries like that aren't all that common where I live!

So please, let's stop with the you-youngsters-want-it-all-and-don't-want-to-work-for-it attitude. Like ejh, I also save what I can, which isn't easy as i'm on a low income, paying a disproportionate amount in rent. It's very easy to get demoralised when you see that after a year of saving hard, you only have about a grand saved - oh well, only another 50 years to go before i'll have a decent deposit...:rolleyes:

Then you must change your job and get a bigger wage packet.

Sooner you get used to the fact that life isn't fair the better. You think I don't get p155ed off becuase I can only buy a £600K house without a mortgage and not a million pound house - it's tough you know.

Tori_Bellatrix

Captain_Mainwaring wrote: »

Then you must change your job and get a bigger wage packet.

Sooner you get used to the fact that life isn't fair the better. You think I don't get p155ed off becuase I can only buy a £600K house without a mortgage and not a million pound house - it's tough you know.

Shucks ... How do you sleep at night with that weighing heavily on your mind ... :rolleyes: ...

ejh18

Snooze wrote: »

In reply to you and the OP who said pretty much the same thing - you can rant and rave about it as much as you want but it's the truth.

The same applies now to what it did in the 80s when I bought my first house and all the years before that too - being able to afford your own house is something that only the well-off should be able to do. Everyone these days thinks that they've got some right to one (not helped by the banks handing out money to all & sundry, admittedly) and then people wonder why they're struggling to keep up their repayments on a £150k mortgage when they're only bringing home £10k per year. :rolleyes:

Neither my parents nor their parents were able to afford their own houses and lived in LHA houses, just as I did for a considerable amount of time until I'd saved enough money in order to buy my own. There was none of this "we'll lend you 23.5 times your income / 125% LTV" crap from the banks back then and the only way to own your own house was to have a good paying job and a nice pot of savings for your deposit.

This is the reason why the housing market is in the mess it's in now and the sooner people such as FTBs get it into their heads that the world does not owe them a house, the better. :rolleyes:

In answer to your question 'neas', 2000, and since been sold.

Rob

You have just contradicted your previous post. You were suggesting people should buy, rather than rent, and that if they do rent they deserve all the !!!! landlords throw at them. What do you really think? If we shouldn't be renting, but also shouldn't be buying, where do you suggest people live?! Some people have happy experiences is rented accomodation, but some landlords are unscrupulous and don't meet their legal obligations. I have had both good landlords and bad, but I have always been an excellent tenant. We have a real problem with a lack of affordable housing in this country, but I'm sure you know that too. It is not even really the prospective FTB's who are hit hardest, but those without a hope of ever becoming a FTBer. They are stuck with paying through the nose in the private rental sector, with no security in their home, and nothing that they can do about it, which is exactly the situation the OP is in. Who wouldn't want to buy when conditions in the rental sector are as they are? In other countries people see long term rental as a viable option because the rental conditions are much more favourable, and it is equivalent to owning your own home. In this country it is not. Suggesting getting a LHA property is not realistic, as most people don't qualify and even those who do struggle to get one.

I do agree with you that it has been irresponsible lending that has caused this rise, but most FTB's simply want a modest home, where they are happy to settle down, start a family etc. I don't think its too much to ask!

BTW, if you first bought in the 1980's, and sold in the last decade, haven't you already made a mint in equity, regardless of the fact you bought your last home in 2000? Just think yourself lucky, and don't make unhelpful suggestions to others without your good fortune.