Jesus this thread... difficulties buying even with a 25% mortgage ... I can’t even fathom how you can save that much, average house prices in my area for a 25% deposit I’d need over £50k... even if I was living rent free that’s not even feasible. Would probably take me another 10 years to save. Was feeling pretty happy with the £8k I’ve got now till I read this
![Crying :cry: :cry:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
Unless we can get a very least 80% LTV mortage or do help to buy we’re not going to be able to get onto the property ladder in the foreseeable. Both on decent £30k + wages with good credit... so unfair!
You should absolutely be proud of yourself for your savings!! My mortgage is 85% LTV, and the 90% and 95% LTV mortgages will come back, it’s just likely to be 2021 rather than right now. Saving for a deposit is so hard, especially when renting. I am buying in London so the prices are just extortionate too
![Anxious face with sweat :cold_sweat: 😰](https://cdn.jsdelivr.net/gh/joypixels/emoji-assets@5.0/png/64/1f630.png)
The only positive of my last relationship not working out was that our house went up a bit in value, so when we sold it I got some cash which boosted my savings.
I’m going to chat to my broker on Monday to see if there’s another lender who might be more likely to do a less conservative valuation of the flat. The seller will only reduce by 7.5k (bearing in mind the 30k undervaluation) so I either need to find that money, try my luck with a new lender or just pull out. Ugh. A large part of me is just wondering whether this is even worth the stress!
AND to top it off, me and my partner just decided to break up (we weren’t buying together) so it has been one HELL of a week
Is this all a sign I should stay put, continue renting and have stability?!