first time buyers

[Uncle Spielberg]

Only for professional and graduates and you have to bank with them

 

[readingstockport]

And it interest rates go up to anything like the levels they once were you're ficked without a paddle. Welcome to the land of repossession.

My mate is far more sensible than to do that, he realise the problems that could be instore in the future.

 

[hans kraay fan club]

The man you want to talk to is Hiney. He is an independant Mortgage Advisor, with his own company 'Albion Mortgages'!

 

[Wozza]

Your ignorance of the real world does you no favours starry.

Funny, isn't it? You'd think she'd get a good view of the real world from her mighty 4x4.

 

[Napper]

And it interest rates go up to anything like the levels they once were you're ficked without a paddle. Welcome to the land of repossession.

My mate is far more sensible than to do that, he realise the problems that could be instore in the future.

lucky we got Labour government mate .

No more tory boom and bust

 

[ozzygull]

I bought my first place 10 years ago. On my own earning an OK wage nothing extreme. 2-bed maisonette costing £42,000 near Uxbridge Middlesex.
I think my self very lucky, since them prices of property have soared way beyond reasonability. I really feel for any first time buyer unless you are very well off you can't buy on your own and even a couple would struggle. The only thing I have seen for sale in Reading just under a 100k in a Trailer Park Home.

Things need to change soon. If first time buyers are priced out the market much more there will be a crash.

Good luck to any buying their first place.

 

[Uncle Spielberg]

There a 3 excellent mortgage advisors here

Hiney
Pevenseagull
Uncle Spielberg

try all 3

 

[Barnet Seagull]

My wife and I have worked incredibly hard to be in the position we're in with regard to housing.

The first places we both bought were seriously nasty and way below our comfort threshold.

With a lot of hard work they became bareable and we sold them and did the same again and again until now.

I do feel sorry for young people who can't get on the ladder, but I've no sympathy for those in their 30's who didn't get on whilst they had the chance.

 

[Uncle Spielberg]

" but I've no sympathy for those in their 30's who didn't get on whilst they had the chance. "

They read too many Daily Express headlines saying property crash on its way over the last 5 years. Someone who did not buy 5 years ago because of this has lost around £ 100 000 in the Brighton area. Top journalism as usual.

 

[Curious Orange]

I do feel sorry for young people who can't get on the ladder, but I've no sympathy for those in their 30's who didn't get on whilst they had the chance.

Thanks for your sympathy, when the housing market was more realistic I had neither the savings nor the wage to get on it. I now have a reasonable amount of savings and (slightly) above average earnings and a modest two bedroom place is not a realistic possibility at all.

I'm 31. I'll keep saving and dream of a crash!!

 

[Springal]

reliastically I think this time next year i'll be in a 'serious' position to start inquiring into buying houses, as hopefully I will have a better idea of what way my career is going, as well as pretty much paying off my car. My savings aren't too bad and if I keep building on them, should be quite tasty, but isnt the market going to just keep rising down here? or at the very best 'stabilise' ?

 

[Brightonfan1983]

I entered my cash parameters into a website, and the third on the list it came up with was a car parking space in Kensington for 80 grand.

 

[Simster]

My wife and I have worked incredibly hard to be in the position we're in with regard to housing.

The first places we both bought were seriously nasty and way below our comfort threshold.

With a lot of hard work they became bareable and we sold them and did the same again and again until now.

I do feel sorry for young people who can't get on the ladder, but I've no sympathy for those in their 30's who didn't get on whilst they had the chance.

I'd agree with your sentiment. On the one hand, you have to say that is incredibly hard to get on the ladder these days, but equally there are people out there who don't save early enough, and then whine when they can't get on the ladder later on in life. I remember someone on here who moaned that he couldn't afford a 2 bed flat in Guildford when this subject last came up. FFS, Guildford is one of the most expensive towns in the country - try buying in Godalming! And how many people without houses still spend £30 on a ticket to watch a crap football team every now and then?

But surely this is going to become a political issue at some point - wage inflation simply hasn't kept up with house price rises for a number of reasons:
a) immigration/cheaper labour
b) the rise of the buy-to-let market raising the price of flats
c) the ever increasing range of borrowing products

On the subject of c), there is talk of allowing transferable debt products onto the market. i.e. where you can buy a loan that far exceeds your expected working life and pass the debt to your kids. I'm unsure of whether or not this is morally wrong, but surely we as a nation need to wake up and question whether this is a path we want to go down?

 

[Thimble Keegan]

Thanks for your sympathy, when the housing market was more realistic I had neither the savings nor the wage to get on it. I now have a reasonable amount of savings and (slightly) above average earnings and a modest two bedroom place is not a realistic possibility at all.

I'm 31. I'll keep saving and dream of a crash!!

I am completely with you on what you say above. A few years ago when I was in my mid-20's I did not have enough savings nor did I have a good enough wage.

Now, I complete my first property purchase on Friday and I am 30. The last few years have allowed me to save up a good amount (£10,000+) and a decent enough wage to get a mortgage I need. A 2 bedroom place is still unrealistic to me but I have gone within my means and went after a 1 bedroom flat which I will get the keys of on Friday.

Good luck with your home-hunting.

Albion & England forever.

Thimble Keegan
Skopje BHA

 

[Cheeky Monkey]

I'm 31. I'll keep saving and dream of a crash!!

Similar position to me. I've got a 35k deposit knocking around but no current prospects of getting on the ladder and dreaming of the crash that probably won't happen. As said in my earlier post, all the Eastern Europeans moving to the South is just gonna keep driving demand up. Too many people, too little housing.

Main prob for me is that I need to live in Brighton for 'family' reasons.. and continually happily(!) rent a one bedroom for £570 a month.

 

[Man of Harveys]

Similar position to me. I've got a 35k deposit knocking around but no current prospects of getting on the ladder and dreaming of the crash that probably won't happen. As said in my earlier post, all the Eastern Europeans moving to the South is just gonna keep driving demand up. Too many people, too little housing.

But do mortgage companies really lend £300,000 to people they have no records of? More fool them then - I'd blame the unscrupulous lenders for the housing bubble rather than dumping it all on the foreigners in the classic style. Besides, the normal pattern of immigration does not show immigrants heading into the most expensive areas of a country, quite the opposite.

 

[Barrel of Fun]

I entered my cash parameters into a website, and the third on the list it came up with was a car parking space in Kensington for 80 grand.

It might be a bit drafty, but at least you could call it home.

 

[The Great Cornholio]

Isn't that exactly why references to the average wage are highly relevant and not ludicrous at all?

At least, it's why I mentioned it...

I was referring more to Starry's comment that she didn't know what the average house price and average wage in Sussex was and was trying to make the point that those figures are irrelevant to a very large number of people. Of more pertinence is the lower wage amounts and the cost of a starter home/flat.

 

[Cheeky Monkey]

But do mortgage companies really lend £300,000 to people they have no records of? More fool them then - I'd blame the unscrupulous lenders for the housing bubble rather than dumping it all on the foreigners in the classic style. Besides, the normal pattern of immigration does not show immigrants heading into the most expensive areas of a country, quite the opposite.

Am not anti-immigration but the influx of Poles into Southampton and to a lesser extent Brighton has been well documented as it is at such unprecedented levels. This adds fuel to the buy to let sector if nothing else, thus maintaining high house prices.

 

[readingstockport]

Can I just say that I almost hope the market does crash, that interest rates climb through the roof and that people like starry end up with an unsaleable 'asset' they are desperately trying to unload whilst those who've been ripped off for years by people who want to inflate prices for their own ends weep into their coffee.