This will never happen of course as the problematic generation are the ones in charge. They got on the housing ladder and pulled it up after them

 

Yes, a couple of my casual friend/ acquaintances have quite the property empire chain of mortgages and live off the income. One's a multi-millionaire from it. I can't even afford to buy a flat unless I move North, so I feel for those who would quite like somewhere they can call home....!

I'm trying to get on the ladder this year but rent is so high I'm struggling to save for the deposit even earning over £30k. The worst thing is I'm gonna get hammered on affordability for a mortgage despite it being cheaper to pay the mortgage than my rent is now!

I'm trying to get on the ladder this year but rent is so high I'm struggling to save for the deposit even earning over £30k. The worst thing is I'm gonna get hammered on affordability for a mortgage despite it being cheaper to pay the mortgage than my rent is now!

 

wow, all these #richboyproblems, I've never earnt neough to even pay off any of my student loan :lol:

I'm trying to get on the ladder this year but rent is so high I'm struggling to save for the deposit even earning over £30k. The worst thing is I'm gonna get hammered on affordability for a mortgage despite it being cheaper to pay the mortgage than my rent is now!

 

 

Can't your parents help you? Apparently according to Sky News the other day, a lot are these days. My mum gave me 40k in 2012, advance on what I'd inherit from her, so that we could buy this house that we were renting. Wife's rich employer arranged a private mortgage for us as we can afford the payments, just, with her nanny wages and my disability benefits but of course no bank or building society would give us a mortgage as I don't work. They told us we were a "repayment risk" :angry: So he helped us and all done through a solicitor but only 2% interest. Wife said renting's dead money. We'll be paying it off until we're 74 lol. :rolleyes:

Edited May 17, 20178 yr by common sense

On the Today programme this morning the Chancellor, Philip Hammond, couldn't say when the Tory manifesto will be published. It was originally expected last week. Could it be that they are still having blazing rows over the contents? Or is it so that they can still parrot the answer "Wait for the manifesto" when they are asked a vaguely difficult question? Sounds like a coalition of chaos to me.

 

 

Was supposed to be tomorrow according to Sky News earlier today but then he said that "it may be later this week" I wonder if there are some disagreements behind the scenes.

wow, all these #richboyproblems, I've never earnt neough to even pay off any of my student loan :lol:

I would kill to have #richboyproblems. I earn about £4K above the average salary for the U.K. (Which is £28,200 according to the walkers cash give away) so am hardly rolling in it

Can't your parents help you? Apparently according to Sky News the other day, a lot are these days. My mum gave me 40k in 2012, advance on what I'd inherit from her, so that we could buy this house that we were renting. Wife's rich employer arranged a private mortgage for us as we can afford the payments, just, with her nanny wages and my disability benefits but of course no bank or building society would give us a mortgage as I don't work. They told us we were a "repayment risk" :angry: So he helped us and all done through a solicitor but only 2% interest. Wife said renting's dead money. We'll be paying it off until we're 74 lol. :rolleyes:

Im not from a wealthy family and even then I'd be really uncomfortable taking deposit money from my folks and then trying to pay that back. I try to be independent financially. My parents are better off than they've ever been but I still don't want to tap them up for cash I don't know I'll be able to repay quickly.

 

Barclays have this awesome new mortgage called the family springboard mortgage. Bank of mum and dad puts up 10% of the price and it goes into a savings account. As long as I don't default they get their cash back after three years with interest. I think we're going to do that as I can put up a smaller deposit too which will be a welcome relief. My parents can afford to do that, I'm very lucky, and this is so much more comfortable for me than borrowing for the deposit. They get interest above the current market rate on their savings and I get a mortgage. It's a win win

Im not from a wealthy family and even then I'd be really uncomfortable taking deposit money from my folks and then trying to pay that back. I try to be independent financially. My parents are better off than they've ever been but I still don't want to tap them up for cash I don't know I'll be able to repay quickly.

 

Barclays have this awesome new mortgage called the family springboard mortgage. Bank of mum and dad puts up 10% of the price and it goes into a savings account. As long as I don't default they get their cash back after three years with interest. I think we're going to do that as I can put up a smaller deposit too which will be a welcome relief. My parents can afford to do that, I'm very lucky, and this is so much more comfortable for me than borrowing for the deposit. They get interest above the current market rate on their savings and I get a mortgage. It's a win win

 

 

Oh that sounds good then. My parents weren't rich but they were, let's say, careful with money so had savings and mum offered or we couldn't buy as wife's employer insisted on a deposit and wouldn't lend us the full amount.

I would kill to have #richboyproblems. I earn about £4K above the average salary for the U.K. (Which is £28,200 according to the walkers cash give away) so am hardly rolling in it

 

Ahh fair enough, it is just more than I have ever earnt or my parents earnt (combined) while I was growing up so it osunds like a lot to me.

 

The guy above who got £40k from their mother out-riches you but personally I don't know if I will ever even earn £30k

The guy above who got £40k from their mother out-riches you but personally I don't know if I will ever even earn £30k

 

Hasn't made me rich as it's gone in to the house purchase!!

Hasn't made me rich as it's gone in to the house purchase!!

 

still a luxury most people in my generation will struggle to do!

Oh that sounds good then. My parents weren't rich but they were, let's say, careful with money so had savings and mum offered or we couldn't buy as wife's employer insisted on a deposit and wouldn't lend us the full amount.

We've never been well off, very much a working class family! My folks are like that as well, quite steadfast with cash so things are a bit more comfortable now. And we got an inheritance last year which is probably where the 10k will come from tbh. I'm lucky I can still, just about, buy a studio for under £100k.

 

 

Ahh fair enough, it is just more than I have ever earnt or my parents earnt (combined) while I was growing up so it osunds like a lot to me.

 

The guy above who got £40k from their mother out-riches you but personally I don't know if I will ever even earn £30k

I think managers in supermarkets are towards the £30k mark these days. I know my sister is on around £20k as a supervisor. There's a lot of jobs that can reach £30k if you get stuck in and work hard and are willing to take on more responsibility and learn new tasks. You'd don't need 3 A*'s at A Level or a 1:1 from Uni to get there any more.

 

 

2 years ago I earned £18.5k. Lot of hard work and determination went into my career but I managed to go from there to £32k in the space of 12 months (stayed constant this past 12 months). It's not impossible. Just take your opportunities with both hands.

I've a professional (graduate) local gov job, requires a fair amount of skill, involves IT, legal, database, research, mapping skills and I get 28k pro-rata down to take home £1500 a month - that's after 33 years in Local Gov (I don't do management doesnt suit me) and have only managed to get the national average in the last few years.

 

Moral: don't go into Local Gov, or if you do, get the skills and LEAVE immediately for a better private sector job...

...and to bring it back to topic, once T May has finished there wont be much of a local gov anyway to work in. So vote for a party that appreciates the work required and done. Any will do.

The problem with the housing market right now is the greed from multiple property owners. It's easy money. You can never stop it but you can stop people wanting to go in to the sector through making it less attractive + extra costs. The problem now is there are certain parts of the country that are just a bubble - even with a property price crash I doubt the prices would dwindle much.

 

As a young person unless you live at home for a couple of years, have generous parents or inherit money saving for a deposit is impossible. The problem I have with people buying a home is technically the banks own your home! Sure renting is considered 'dead money' but there is no point getting a mortgage unless you can afford one. You're likely to be paying it off for the rest of your life and inevitably you'll re-mortgage 3-4 times.

I've a professional (graduate) local gov job, requires a fair amount of skill, involves IT, legal, database, research, mapping skills and I get 28k pro-rata down to take home £1500 a month - that's after 33 years in Local Gov (I don't do management doesnt suit me) and have only managed to get the national average in the last few years.

 

Moral: don't go into Local Gov, or if you do, get the skills and LEAVE immediately for a better private sector job...

 

No way - a government job brings a lot more stability/security than a private sector job!

It really, really depends on the job.

No way - a government job brings a lot more stability/security than a private sector job!

Not any more it doesn't.

I think the Tories manifesto promises on reforming social care are great, especially the fact that the winter fuel payment is to be means tested. About time. Also I'd go a step further and say free bus passes for over 60's shouldn't be given to people still in full time work. They can afford their fares.

ITV have their "leaders" debate this evening. Anyone planning to place a bet on May wrong-footing Corbyn by turning up unannounced?