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The 'Eeeek...buying/saving for a house' thread

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Giz a Gobble:
Couldn't specifically find anything about this so apologies if duplicated but me and my fiancee are currently enjoying the joys of saving for a house. We've only been saving for two months but have stashed away 3k so far and are hoping to throw 600 a month between us in as soon as payday hits every month.

I'm trying to read up as much about house buying, mortgages etc but finding it a bit bewildering/daunting at the minute, worrying about house prices, costs etc. Also looking around at what might be suitable for us, new build - help to buy? 5% deposit mortgage etc? Sticking to an older house?

So anyone else in our position of s(l)aving away or anyone further down the line and facing the joys and troubles of house buying who fancies sharing advice, comments, rants about estate agents that we can all sympathise with?


L666KOP:

--- Quote from: Giz a Gobble on June 25, 2013, 02:49:29 pm ---Couldn't specifically find anything about this so apologies if duplicated but me and my fiancee are currently enjoying the joys of saving for a house. We've only been saving for two months but have stashed away 3k so far and are hoping to throw 600 a month between us in as soon as payday hits every month.

I'm trying to read up as much about house buying, mortgages etc but finding it a bit bewildering/daunting at the minute, worrying about house prices, costs etc. Also looking around at what might be suitable for us, new build - help to buy? 5% deposit mortgage etc? Sticking to an older house?

So anyone else in our position of s(l)aving away or anyone further down the line and facing the joys and troubles of house buying who fancies sharing advice, comments, rants about estate agents that we can all sympathise with?

--- End quote ---

That's some saving is that mate, and if you can do that over 12 months it will not only leave you with a nice little deposit, but will proove to a potential lender that you are responsible with money, and have a good aptitude for repaying any debt.

I've been out of using mortgages for a while now, but there's a new development near by me that's offering 5% deposit terms.

If you go down the new build route there's some deals to be had, and also offer trouble, and maintainance free housing, should you be in a position to buy one.

On the whole though, I think the borrowing issue is easing slightly as far as housing is concerened.

Good luck.
 :)

Giz a Gobble:
Thanks - can only plough as much cash as possible I guess and still live some sort of life!

Guess we feel the pressure more though as me and my fiancee are both 31, marriage is nowhere near the cards but kids are and my thinking is have a nice house set-up first before doing that. We currently rent an apartment above a shop in North Liverpool, but is all a bit cramped and isn't ours to decorate etc. So because of all of that, I kind of feel it has to be done slightly quickly. So ideally, would like a house in South Liverpool as it's got a lot more of what we are after.

Only thing with new builds in Liverpool is that they're not really located in any of the places I'd particularly want to live but can see the potential in buying them.

killer-heels:
You are doing the right thing, get off that renting situation as soon as you can.

There isn't anything specific at the moment, just keep saving and get as big of a deposit as you can get a hold of.

There are some good schemes and 10% deposit mortgages around. If you can wait a bit longer, try to get yourself a bigger deposit percentage.

mabbympb:
Im in your boat to pal, i pretty much have a deposit ready to go having saved a decent amount over the last 3 years. Just need to find out what the next step is!! The only other problem is i like a trip away now and then, and this is surely going to impact on that! :(

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