corsasport.co.uk
 

Corsa Sport » Message Board » Off Day » House Day » Is it possible?


New Topic

New Poll
  <<  1    2  >> Subscribe | Add to Favourites

You are not logged in and may not post or reply to messages. Please log in or create a new account or mail us about fixing an existing one - register@corsasport.co.uk

There are also many more features available when you are logged in such as private messages, buddy list, location services, post search and more.


Author Is it possible?
Jules S
Premium Member

Avatar

Registered: 24th Dec 03
User status: Offline
22nd Nov 06 at 23:19   View Garage View User's Profile U2U Member Reply With Quote

With some (a lot) of self discipline to buy a house/flat on your own these days?

Is it Ally that has managed it?

I did it, and im proud to say i'm just about to reap the rewards for all the single buyer hardship

If you 'can' manage to do it....then do it
Fee
Member

Registered: 16th Nov 05
Location: With AK
User status: Offline
22nd Nov 06 at 23:26   View User's Profile U2U Member Reply With Quote

It's possible.....just very difficult
The deposit is the main problem for most people
mav
Member

Registered: 19th Jun 01
Location: Scotland
User status: Offline
22nd Nov 06 at 23:37   View User's Profile U2U Member Reply With Quote

Ally lives with Ritchie..

All depends what kind of cash you have coming in and if you are not too daft with debt and outgoings etc, Definetly possible...
Colin
Member

Registered: 4th Apr 02
User status: Offline
22nd Nov 06 at 23:45   View User's Profile U2U Member Reply With Quote

I bought & live on my own.
Jules S
Premium Member

Avatar

Registered: 24th Dec 03
User status: Offline
22nd Nov 06 at 23:47   View Garage View User's Profile U2U Member Reply With Quote

quote:
Originally posted by mav
Ally lives with Ritchie..

All depends what kind of cash you have coming in and if you are not too daft with debt and outgoings etc, Definetly possible...


Do they live together? i got the impression she had enough balls to do it herself
Robin
Premium Member

Avatar

Registered: 7th Jan 04
Location: Northants Drives: Clio 182 Cup
User status: Offline
22nd Nov 06 at 23:47   View Garage View User's Profile U2U Member Reply With Quote

Like Fee says, the deposit is the killer for most people.

I don't know anyone my age who has 10k lying around, or even 5 for that matter.

Mortgage payments are easy, as long as you're earning.
mav
Member

Registered: 19th Jun 01
Location: Scotland
User status: Offline
23rd Nov 06 at 00:51   View User's Profile U2U Member Reply With Quote

Yeah sure she does live with him...

Deposit doesn't have to be a problem really take a 100% mortgage nothing wrong with them and banks will give you them for 1st time buyers.
John
Member

Registered: 30th Jun 03
User status: Offline
23rd Nov 06 at 01:02   View User's Profile U2U Member Reply With Quote

When I decide to move out I don't see it being too much of a problem.

I will have a deposit saved up in advance and whether I agree with it or not, i'm expecting to have to pay stupid amounts of money for house.

And as said, just get a mortgage that you can afford to pay.
Ian
Site Administrator

Avatar

Registered: 28th Aug 99
Location: Liverpool
User status: Online
23rd Nov 06 at 01:29   View Garage View User's Profile U2U Member Reply With Quote

Mine is on my own. I didn't have any deposit in cash but on paper it looked like I put down £15k because of the way the builders discounted it as a deposit allowance rather than reducing the purchase price. Mortgage is about 78% which looks better on paper.

Everything else is on 0% intro rate cards or the best rates on loans I can find. The job helps as its fairly secure so I look OK on an application.

I'm quite sure if I had have done the maths before signing my name I wouldn't have actually gone ahead with it. I don't tend to stare at the figures too much.
Jules
Member

Registered: 26th Nov 04
Location: Ipswich, Suffolk Status: Happy
User status: Offline
23rd Nov 06 at 06:40   View User's Profile U2U Member Reply With Quote

I have my own house Jules (now I'm not talking to myself! ).
But I got it after a failed marriage, I doubt I'd be able to do it from scratch on my own unless I done a fair but of overtime.
Aaron
Member

Registered: 9th Aug 04
Location: Cottingham, East Riding
User status: Offline
23rd Nov 06 at 08:46   View User's Profile U2U Member Reply With Quote

I've bought a flat and live on my own

looking at a second one too...
Ally
Member

Registered: 2nd Jul 03
Location: Pontypool Drives: a Skoda
User status: Offline
23rd Nov 06 at 09:28   View User's Profile U2U Member Reply With Quote

quote:
Originally posted by mav
Yeah sure she does live with him...



This makes me angry for the record

I own my house, house belongs to me, i do not live with Richie

Although he stays over a few nights a week
Ally
Member

Registered: 2nd Jul 03
Location: Pontypool Drives: a Skoda
User status: Offline
23rd Nov 06 at 09:30   View User's Profile U2U Member Reply With Quote

I did it, was lucky to live in Wales as house prices are cheap out here, and the sellers of my house offered to pay my deposit for me.

Im really glad i've done it on my own, but next time will be joint together.

I wouldnt rennovate a property again
Ally
Member

Registered: 2nd Jul 03
Location: Pontypool Drives: a Skoda
User status: Offline
23rd Nov 06 at 09:32   View User's Profile U2U Member Reply With Quote

quote:
Originally posted by Jules S
Do they live together? i got the impression she had enough balls to do it herself



He stays up usually every weekend and a night in the week

I have huge balls, so didnt think twice about doing it on my own
Fee
Member

Registered: 16th Nov 05
Location: With AK
User status: Offline
23rd Nov 06 at 10:42   View User's Profile U2U Member Reply With Quote

I wouldnt have managed to buy a place without Adam, and we were lucky because we got our flat under value.

A one bed flat in Edinburgh costs about £125k
I couldnt even get that on my salary, never mind even thinking about a deposit.

I guess it is just easier in some parts of the country.
My sister up in aberdeen has just bought a 3 bed house with garden and garage for almost the same price as our flat is valued at
--Dave--
Banned

Registered: 17th Feb 04
Location: Essssseeeeex Drives: Black Supra TT
User status: Offline
23rd Nov 06 at 10:45   View User's Profile U2U Member Reply With Quote

no way could I have afforded a house where I live on my own. Just too expensive.
Jamie Walby
Member

Registered: 15th Nov 04
User status: Offline
23rd Nov 06 at 11:19   View User's Profile U2U Member Reply With Quote

TBH I think I stand little or no chance of being able to buy a house/flat on my own in Bournemouth.
John_C
Member

Registered: 5th Mar 03
Location: South east, Bromley
User status: Offline
23rd Nov 06 at 11:45   View User's Profile U2U Member Reply With Quote

i've done it and its a little harsh on the wallet! Bought a 3bed house in the se london for 140k on probate. Put a 14k deposit down. Have carried out a full schedule of works, completely renovated. House is worth roughly 200k. I can see why ppl buy together but as everything is down to me i feel a lot more comfortable and nervous if it goes tits up
sigibbons
Member

Registered: 10th Feb 04
User status: Offline
25th Nov 06 at 17:30   View User's Profile U2U Member Reply With Quote

quote:
Originally posted by Jamie Walby
TBH I think I stand little or no chance of being able to buy a house/flat on my own in Bournemouth.


I heard Sandbanks is where the cheap property is.
BabyBlade
Member

Registered: 5th Feb 03
Location: Hereford Rides: Ninja 600
User status: Offline
25th Nov 06 at 18:04   View User's Profile U2U Member Reply With Quote

quote:
Originally posted by Fee

A one bed flat in Edinburgh costs about £125k



Looking at one bed and two bed flats/apartments and found one for £135k, it is brand new though but theyre roughly 120/130 for 1/2 beds depending on area around here.

Been told I can get up to £150k (5 times your wages) but have set a budget of a house for £130k max so I can still save and have a life!

You do have to have the balls to do it though, look into the figures too much and you could easily put yourself off
sigibbons
Member

Registered: 10th Feb 04
User status: Offline
25th Nov 06 at 18:10   View User's Profile U2U Member Reply With Quote

When they say '5 times your wages' etc does it mean your anual wages before outgoings, living expenses?
BabyBlade
Member

Registered: 5th Feb 03
Location: Hereford Rides: Ninja 600
User status: Offline
25th Nov 06 at 18:16   View User's Profile U2U Member Reply With Quote

No they havn't done that this time, as last time had to go through all my outgoings etc and see if it was possible.

This time shes seen my bank statements and payslips, but then again still have a meeting with her again monday.

Its based on before outgoings, although any loans do affect what you can get, which I dont have.
Ian
Site Administrator

Avatar

Registered: 28th Aug 99
Location: Liverpool
User status: Online
25th Nov 06 at 18:22   View Garage View User's Profile U2U Member Reply With Quote

quote:
Originally posted by sigibbons
When they say '5 times your wages' etc does it mean your anual wages before outgoings, living expenses?
Salary before tax, its a very rough guide indeed. You earn 20k you can borrow 5 x 20.

Truth is that 5x your salary is a big portion of your income, and thats at the current interest rates.
BabyBlade
Member

Registered: 5th Feb 03
Location: Hereford Rides: Ninja 600
User status: Offline
25th Nov 06 at 19:17   View User's Profile U2U Member Reply With Quote

quote:
Originally posted by Ian
quote:
Originally posted by sigibbons
When they say '5 times your wages' etc does it mean your anual wages before outgoings, living expenses?
Salary before tax, its a very rough guide indeed. You earn 20k you can borrow 5 x 20.

Truth is that 5x your salary is a big portion of your income, and thats at the current interest rates.


Very true. It's sad that nowadays we have to have these massive mortgages just to have our own independance, when say only 5? years ago house prices were considerably cheaper.

Imagine paying 60k for a house in a nice area nowadays
Jules S
Premium Member

Avatar

Registered: 24th Dec 03
User status: Offline
26th Nov 06 at 21:56   View Garage View User's Profile U2U Member Reply With Quote

I would say a 5x salary mortgage over 25 years will utterly kill you in terms of lifestyle viability.

You would be far far far better off saving like a mofo for a period prior to taking the mortgage

Interest (even at the low rates we have) is an absolute killer

  <<  1    2  >>
New Topic

New Poll

Corsa Sport » Message Board » Off Day » House Day » Is it possible? 24 database queries in 0.1791182 seconds