Million middle-class can't afford to buy a house

[Him Her]

Is this bad?

I mean, when they get old and needing a zimmer the Government will confiscate the house to pay for care anyway?

The incentive to improve yourself is a tad lacking methinks

Oops, forgot the link - http://www.thisismoney.co.uk/money/mortgageshome/article-2410104/The-MILLION-middle-class-families-buy-home.html

 

[rawsy]

Is 40 k a year combined now middle class?

 

[oneman]

they could afford to buy because
1) they had a kid too early
2) they wasted their money on an expensive wedding

 

[miggy]

Who the hell is on £40,000 per year? there are people on far less wages than that and they seem to manage. Get your name down on the Council they will help you out surely, especially with a young kid???. Why do these people insist on living beyond there needs?. Move out of the area and get a cheaper house cake and eat it is not an option. Ffs where is my medication.

 

[friendzi]

makes me rage when they say "SCRAPE TOGETHER A DEPOSIT" when does anyone "Scrape" together on average 15-20 grand, Ive just been going through this nightmare of trying to buy my own house in this county, Me and the missus had decided to buy my parents house due to it being spacious ec... been in the family over 20 years, Didnt stand a chance on getting a mortgage, house was valued at 125, but as soon as i go to buy a MORE EXPENSIVE newbuild on the help to buy scheme i get accepted straight away, country is f***ed

 

[Busta_Gonad]

We are really fortunate to have bought in the 'cheap time' and sold in the 'expensive time' those times gave gone and I've hit friends who are struggling to pay their mortgage and would much better off renting.

 

[oneman]

Who the hell is on £40,000 per year? there are people on far less wages than that and they seem to manage. Get your name down on the Council they will help you out surely, especially with a young kid???. Why do these people insist on living beyond there needs?. Move out of the area and get a cheaper house cake and eat it is not an option. Ffs where is my medication.

council aren't going to do anything unless you are benefits.

 

[jamesyboyjim]

makes me rage when they say "SCRAPE TOGETHER A DEPOSIT" when does anyone "Scrape" together on average 15-20 grand, Ive just been going through this nightmare of trying to buy my own house in this county, Me and the missus had decided to buy my parents house due to it being spacious ec... been in the family over 20 years, Didnt stand a chance on getting a mortgage, house was valued at 125, but as soon as i go to buy a MORE EXPENSIVE newbuild on the help to buy scheme i get accepted straight away, country is f***ed

Quite agree mate, I'm 28 and still I'm renting a 1 bedroom maisonette with my missus, I have about 200 quid in savings lol. I've given up trying to save for a deposit because it just isn't going to happen. The only way most people nowadays can get on the ladder is if they have parents who pop their clogs and leave them their house in the will. Or if you live at home until your 30 (fook that lol)

 

[Busta_Gonad]

On a similar note, my missus' uncle has had ms for years, he owns his own flat, recently he's over into a home due to his illness getting worse, should see the speed they are sniffing round him to see how much it's worth, how much he owes

 

[D1GG3R]

makes me rage when they say "SCRAPE TOGETHER A DEPOSIT" when does anyone "Scrape" together on average 15-20 grand, Ive just been going through this nightmare of trying to buy my own house in this county, Me and the missus had decided to buy my parents house due to it being spacious ec... been in the family over 20 years, Didnt stand a chance on getting a mortgage, house was valued at 125, but as soon as i go to buy a MORE EXPENSIVE newbuild on the help to buy scheme i get accepted straight away, country is f***ed

Doesn't the help to buy scheme extend to any house in January? Not just new builds?? Or have I miss heard??

Sent from my GT-I9505 using Tapatalk 4

 

[oneman]

Doesn't the help to buy scheme extend to any house in January? Not just new builds?? Or have I miss heard??

Sent from my GT-I9505 using Tapatalk 4

Its extending to any house under £600k.

Personally I think the scheme is just building one huge financial time bomb.

 

[friendzi]

Yes it does Digger, but couldnt wait that long

 

[friendzi]

Its extending to any house under £600k.

Personally I think the scheme is just building one huge financial time bomb.

So without this scheme how do you suppose i buy my first house? with a combined income under 26k and a child of under 2 years old? Im desperate to buy as renting is dead money? What would i do if this scheme wasnt available?

 

[oneman]

So without this scheme how do you suppose i buy my first house? with a combined income under 26k and a child of under 2 years old? Im desperate to buy as renting is dead money? What would i do if this scheme wasnt available?

The problem is that its artificially driving housing boom which in turn is artificially pushing prices up. As always, this artifical housing bubble will catch up with you and the UK economy at some point.

If the scheme wasn't available then you keep renting and force government and market force to drive prices down to affordable levels.

 

[friendzi]

I think house prices are affordable, Its the banks not wishing to lend unless you throw a huge amount of money at them upfront, Its actually cheaper to buy than rent, Basically your saying, bollocks to those who cant get a mortgage cos the banks are not lending, they can stay in rented accomodation pay dead money and struggle.

 

[oneman]

I think house prices are affordable, Its the banks not wishing to lend unless you throw a huge amount of money at them upfront, Its actually cheaper to buy than rent, Basically your saying, bollocks to those who cant get a mortgage cos the banks are not lending, they can stay in rented accomodation pay dead money and struggle.

I'm saying the government is making life more difficult for yourself longer term.

And house prices are affordable right now, they won't be within the next year.

 

[D 8 RCS]

"A staggering one in five families now rents privately in the UK." as quoted from the MailOnline.
This statement contains the main problem "rents privately" mortgages and properties are being sold on a "buy to rent" basis and not by those who wish to live in the properties.
If this were curtailed then the property prices would come down and mortgages would be made available for those who need them not those who want to profit from them !!
But it is mainly a case of those with looking out for those with and profiteering from those without, and because of this those without will never will have.

 

[oneman]

"A staggering one in five families now rents privately in the UK." as quoted from the MailOnline.
This statement contains the main problem "rents privately" mortgages and properties are being sold on a "buy to rent" basis and not by those who wish to live in the properties.
If this were curtailed then the property prices would come down and mortgages would be made available for those who need them not those who want to profit from them !!
But it is mainly a case of those with looking out for those with and profiteering from those without, and because of this those without will never will have.

but how to manage rent costs unless you introduce rent caps and you know that is not going to happen.

 

[Him Her]

Although numbers on paper seem to suggest buying is better than renting it won't take much of an interest rise to reverse that. Renting is flexible, buying gives you an asset but an asset is only as good as the price you can secure when you want to sell it (or have to).

You can be forced to sell your house now over a debt as little as £1000 which may not be so bad if the market happens to be on an up and you are quids in but if it isn't?

IMHO, we have been 'manipulated' into believing that home-ownership is something to aspire to - I'm not convinced it is. Valuable to some perhaps but not to all.

Years ago it was a bit of a no-brainer as they always went up in value, but today?

 

[Spectre]

A lot of new builds around here are bought up by buy-to-let landlords, can't say I'd like a new build really.

Is the "Help to Buy" 20% deposit scheme going to be for older properties too? Might be worth me holding onto my deposit and treating it as a five year interest free loan if it is.