I live and work in London since I moved here 20 years ago. You would be surprised how many people are well paid in City of London to be able to afford properties. I dont doubt for a second that many had help from families and many properties in London are owned by old money but for what i know, 90% of the colleagues have more than one property in London and mostly through their own salary/saving. The average salary before bonus in City of London is now 70K meaning a couple should be able to buy a 500K flat after a few years saving. And this is not high flying industries like bankers or lawyers who could buy faster.
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can I send you my CV 
We live in London and pay £1100 a month in rent. Short answer, we can't. We previously lived in a studio flat with cheap rent and we managed to save 4k in the three years we lived there. Then the landlady decided not to renew her contract for no particular reason (she was a nasty witch anyway). We had literally three weeks to find a new place and it was over the Christmas period. The 4k got eaten up by deposits and agent fees and contract fees and all kinds of BS and we were back to square one. In the three years we've lived in this place, we've managed to save 3k. We don't live extravagantly, we just have high rent and bills to pay. We've still never been on a honeymoon and it's been six years. I would like to start trying for a baby now, I'm 33 but we don't have space here and how could we afford it? We both came from poor backgrounds and have no financial help from either side. So I guess we're fucked lol.Admittedly, I am damn nosy. I live in London, I am curious to know how couples saved up for house deposit when the price of a 3 bedroom Victorian terrace can start from 550k at least (zone 4./fixed upper).
Not too sure if this topic feeds into Tattle Life haha
We bought a 1 bed flat in London with Help 2 Buy, we paid for the deposit with our own money, 2 years of saving and managed to do it quickly because I received a good bonus from mytitjob at the end of 2nd year.
Deposit: 18k
I was exceptionally lucky - my grandparents gave me a house in Kensington as part of my trust fund when I graduated from University (it’s something they do for all of us). I feel incredibly lucky as properties where we live do not often come up for sale.
Do it! You’ll honestly never regret it and it gets your foot on the ladder. I’m from Scotland so I know it’s different legal system wise up here (I’ve never understood why you guys pay to buy a house you are effectively renting - no judgement - just confusion!) but anyhow. You’ve got your deposit - go grab life and do it. You’ll have a blast. Promise. I bought on my own and as terrifying as it is, wouldn’t ever change itI love threads like this and reading other peoples experiences. I would be a first time buyer going it aloneand it terrifies me. I have a good deposit that has taken me YEARS to save but I still live with parents and am 39! I’m just so scared to take the plunge and do it on my own.
Would you consider moving out of London? I live in Essex so the commute isn’t too bad and you could rent a 2 bedroomed flat/possibly small house depending on the area for the same money.
I received 20k when my grandma died last year so am putting that towards a deposit. We are putting down a 10% deposit and had an offer accepted last week on a 167k property however we have spoken to 2 mortgage advisors this week and they both told us not to bother 
both said the market is so bad with 10% deposits and we should continue to save and buy next year. Now we don't know what to do.
both said the market is so bad with 10% deposits and we should continue to save and buy next year. Now we don't know what to do.So I currently live and work in London, earning just over £40k. I’m single and paying £750+ bills in my flat (total rent is £1350 but I share with someone) I’m steadily pulling together a house deposit for the future but it feels like a mile away if I want to do this in London.
My sister on the other hand still lives in my hometown in the north, barely saves a thing, is on less than half of my salary but was able to purchase her first house with her boyfriend a few years ago. She literally had a couple of grand for a deposit and her bf around the same. My mum and dad helped with some of it and his mum and dad helped with the rest. They’ve recently sold that house and moved into a huge house with a nice big garden.
Rationally I know she was hugely enabled because of parental help, and that as a single woman I wouldn’t have that same proportion of help or a second wage to build up the deposit. It’s hard not to feel inferior or like I’m some kind of failure for not owning a property. It’s just feels so hard to do it on your own.
My sister on the other hand still lives in my hometown in the north, barely saves a thing, is on less than half of my salary but was able to purchase her first house with her boyfriend a few years ago. She literally had a couple of grand for a deposit and her bf around the same. My mum and dad helped with some of it and his mum and dad helped with the rest. They’ve recently sold that house and moved into a huge house with a nice big garden.
Rationally I know she was hugely enabled because of parental help, and that as a single woman I wouldn’t have that same proportion of help or a second wage to build up the deposit. It’s hard not to feel inferior or like I’m some kind of failure for not owning a property. It’s just feels so hard to do it on your own.
I bought my first one bedroom house aged 21 with help from a generous aunt. Had a mortgage that I had to pay myself so was very sensible with nights out etc in order to afford it. Moved from there after 5 years and sized up considerably when I got married. Had a fairly large mortgage but made small overpayments as and when we could , even if it was only a few pounds a month. It all adds up. Mortgage free in early 40’s and can’t see us moving until children have finished school and left home.
I got some inheritance money - 15k.
At 21 Put 15k down on my first house in 2013 (95k) 2 bed terrace all done up (there was abit of a crash in the market. Pervious owners brought it in 2011 for £115k and spent a fortune gutting it. It was risky for us as my partner was on a apprenticeship and I was on a 0 hours contract.
Sold it in 2013 for £115k. So we used the 20k, 18k we had in the house (deposit and mortgage we had paid off) and 12k savings we had. We put 40k down on this house in 2013. Paid £190 for it. We've spent about 15k on it and just had it valued at £240k.
If we hadn't had the inheritance we wouldn't have been able to buy our first house. So we would probably still be in a starter property. We took some risks but it all paid off.
We are up north in a nice area near the peak district. Its only 3 bedrooms (all double( but we don't need any more, a big plot of land with a double garage. Superb schools and its amazing for the kids being that close to nature. I don't know how people do it in London, I'd have to sell a child and a kidney.
Not planning on moving until the kids have moved out, it will be a one bed so they can't come back and no sleepovers for grandkids
At 21 Put 15k down on my first house in 2013 (95k) 2 bed terrace all done up (there was abit of a crash in the market. Pervious owners brought it in 2011 for £115k and spent a fortune gutting it. It was risky for us as my partner was on a apprenticeship and I was on a 0 hours contract.
Sold it in 2013 for £115k. So we used the 20k, 18k we had in the house (deposit and mortgage we had paid off) and 12k savings we had. We put 40k down on this house in 2013. Paid £190 for it. We've spent about 15k on it and just had it valued at £240k.
If we hadn't had the inheritance we wouldn't have been able to buy our first house. So we would probably still be in a starter property. We took some risks but it all paid off.
We are up north in a nice area near the peak district. Its only 3 bedrooms (all double( but we don't need any more, a big plot of land with a double garage. Superb schools and its amazing for the kids being that close to nature. I don't know how people do it in London, I'd have to sell a child and a kidney.
Not planning on moving until the kids have moved out, it will be a one bed so they can't come back and no sleepovers for grandkids
I know I’m very lucky to have been gifted £35k for a deposit by my Dad, but, it’s actually inheritance from losing my Mum when I was in my early teens that was kept safe until I had settled down enough to think about buying. Of course I feel very lucky to have it, but also obviously would rather still have my Mum. Until Dad announced the existence of the inheritance I had never thought I’d be able to own as a single woman on an average salary. I have struggled massively financially in the past due to mental health issues and I’ll be really honest that owning my own place scares the tit out of me.
I’ve just started looking, the building I live in currently has a 2 bed flat on for OIEO £260k and houses start around £320k. I’m outside of London on the coast.
I’ve just started looking, the building I live in currently has a 2 bed flat on for OIEO £260k and houses start around £320k. I’m outside of London on the coast.
We were lucky to live in the days of 100% mortgages when we bought our first home in 2001. 2 bed semi for £52k.
DH did have about £10k from the sale of his house with his ex, but I had nothing to put in so he kept the cash and we both went in as equals on the house.
We’ve only moved once since then and only to a modest 3 bed. However we are self employed with no pensions and have invested elsewhere. I love our home and in just over 3 years it will be entirely ours and no one can take it away.
DH did have about £10k from the sale of his house with his ex, but I had nothing to put in so he kept the cash and we both went in as equals on the house.
We’ve only moved once since then and only to a modest 3 bed. However we are self employed with no pensions and have invested elsewhere. I love our home and in just over 3 years it will be entirely ours and no one can take it away.
I was exceptionally lucky my parents used some of my dads pension money to pay £25k towards my £118k two bed in Lincs.
Bought at 33, many years behind friends who’d all had massive deposits from parents (in the range of 60% house cost), or been bought a house/been left a large inheritance. All earning considerably more and doing it with a partner.
I bought mine effectively ‘alone’ but was slightly under the allowance so my dad is my guarantor. Because of this I had to have a short 13 year mortgage, which means my mortgage payments are pretty high. I then got made redundant last year so had to borrow against the house to pay some debts so I could survive with no incoming except UC for 4 months. Which increased my mortgage payments again.
But assuming i stay here by 46 I’ll have paid off my mortgage. I’ve told my parents I’d like to then remortgage or loan the Original £25000 they gave me So I could pay them back as my dad hits retirement- I’m kind of hoping they’ll refuse!
I have spent the past ten months working 3 jobs to make sure I don’t have to borrow from my parents to pay the bills (much), and have once again just been made redundant on one of my jobs so it’s a terrifying feeling of being back at square one.
I do however now have a nice man in my life who will hopefully move in- which takes the strain off my a little. And if I ever get a full time job again, maybe we can think about moving upwards.
It IS scary going it alone, even when you’ve guarantor support like me, but I’ve faced the most financially challenging 18 months of my life, and knowing I have to keep working and keep fighting to keep my little house is actually what keeps me going!
Bought at 33, many years behind friends who’d all had massive deposits from parents (in the range of 60% house cost), or been bought a house/been left a large inheritance. All earning considerably more and doing it with a partner.
I bought mine effectively ‘alone’ but was slightly under the allowance so my dad is my guarantor. Because of this I had to have a short 13 year mortgage, which means my mortgage payments are pretty high. I then got made redundant last year so had to borrow against the house to pay some debts so I could survive with no incoming except UC for 4 months. Which increased my mortgage payments again.
But assuming i stay here by 46 I’ll have paid off my mortgage. I’ve told my parents I’d like to then remortgage or loan the Original £25000 they gave me So I could pay them back as my dad hits retirement- I’m kind of hoping they’ll refuse!
I have spent the past ten months working 3 jobs to make sure I don’t have to borrow from my parents to pay the bills (much), and have once again just been made redundant on one of my jobs so it’s a terrifying feeling of being back at square one.
I do however now have a nice man in my life who will hopefully move in- which takes the strain off my a little. And if I ever get a full time job again, maybe we can think about moving upwards.
It IS scary going it alone, even when you’ve guarantor support like me, but I’ve faced the most financially challenging 18 months of my life, and knowing I have to keep working and keep fighting to keep my little house is actually what keeps me going!
5% deposit. Saved it up ourselves. But also bought a renovation project and only spent half the f what the bank was offering us to borrow.
Love reading everyone’s experiences. No money from grandparents/ inheritance etc, I’ve got working class parents (so no money from them either!) but looking to buy in the central belt of Scotland this time next year. Max want to spend 125k and have 20% deposit. I’ve saved approx 15% of that already (solo, no partner etc). The thought of owning my own place is scary but exciting so here’s hoping the economy holds out!
We bought our house just under 3 year ago, we were renting my parents flat at half market rent to get a deposit together. Between us we had about £25k as we weren’t earning what we do now.
We had to relocate over 20 miles away just to be able to afford what we have (3 bed house vs a 2 bed flat where we were). We bought a complete wreck which my parents helped us do up while we lived rent free for 6 months in the flat. We bought our house for £325k and put down £75k as the deposit, £65k of that we were gifted from my parents.
We also borrowed £16k from them for a new car, as my husbands set fire the week we moved in and to finish renovating the house which we paid back in full over the last two years and finished at Christmas.
Most of my friends are on the ladder due to help or inheritance. I don’t know anyone who has been able to do it on their own back, we live in Surrey so the prices are high.
We did nearly buy a similar house in Nottingham back in 2013 for £103k but pulled out which I am glad of but the price different is crazy.
We had to relocate over 20 miles away just to be able to afford what we have (3 bed house vs a 2 bed flat where we were). We bought a complete wreck which my parents helped us do up while we lived rent free for 6 months in the flat. We bought our house for £325k and put down £75k as the deposit, £65k of that we were gifted from my parents.
We also borrowed £16k from them for a new car, as my husbands set fire the week we moved in and to finish renovating the house which we paid back in full over the last two years and finished at Christmas.
Most of my friends are on the ladder due to help or inheritance. I don’t know anyone who has been able to do it on their own back, we live in Surrey so the prices are high.
We did nearly buy a similar house in Nottingham back in 2013 for £103k but pulled out which I am glad of but the price different is crazy.
I’ve lived in London all my life. Moved out of home when I was 24 and rented privately until I bought my own place when I was 31.
I needed around £28k for deposit and fees, and I saved it all myself while renting. I have a large 1 bed in a small purpose built block (2 floors) in Zone 3 London making my commute under 40 mins (including walking time). I paid £240k for it.
Please don’t believe buying in London is impossible or that all entry level properties are small and crappy conversions. There are some absolute gems out there but you have to be patient and willing to compromise. Ideally I would have had a second bedroom, but I sacrificed that to be in a small and private development in the ideal location.
Don’t get me wrong I’m very aware that this has all been aided by a very healthy salary (from saving to now it has ranged from £44k-£65k) but I will caveat that I never went to university, because in my industry graduates do get significantly better packages than those without (my first salary was £12k vs a grad at £21k despite the roles being pretty much identical). I’ve worked my butt off to earn that salary and to having my own home.
It’s all boiled down to wanting it hard enough, if I’m being completely honest.
I needed around £28k for deposit and fees, and I saved it all myself while renting. I have a large 1 bed in a small purpose built block (2 floors) in Zone 3 London making my commute under 40 mins (including walking time). I paid £240k for it.
Please don’t believe buying in London is impossible or that all entry level properties are small and crappy conversions. There are some absolute gems out there but you have to be patient and willing to compromise. Ideally I would have had a second bedroom, but I sacrificed that to be in a small and private development in the ideal location.
Don’t get me wrong I’m very aware that this has all been aided by a very healthy salary (from saving to now it has ranged from £44k-£65k) but I will caveat that I never went to university, because in my industry graduates do get significantly better packages than those without (my first salary was £12k vs a grad at £21k despite the roles being pretty much identical). I’ve worked my butt off to earn that salary and to having my own home.
It’s all boiled down to wanting it hard enough, if I’m being completely honest.
I've never told anyone this (IRL)- but here's my story.
I bought my detached house in 2015. On my own.
It was £153k.
I paid in cash.
All my own money- I didn't have (and refused) a penny from anyone. If that makes me sound smug and superior, read on.....
I'd lived all my life at home with my mother. She had chronic post-natal depression with me, so much so that my dad walked out, she had blamed me for it and since that age I had been the "man of the house" (I'm male BTW). I was never "allowed" to go on a holiday, buy clothes, even buy food for myself as it would send her into a depressed state. But I put up with it as it was all I'd ever known.
Had my first nervous breakdown at 17. Went to Uni (local as I wasn't "allowed" to move out) and got a job. After a few years I had a decent salary (£45k at one point, less now). I literally had no life though- no friends, nothing to spend money on (I remember buying a £4 kebab one night on my way back from work and mum crying as I had "no idea about money"- I was paying her rent and food costs, didn't sped any other money).
If I wanted clothes I was expected to buy them from a charity shop. I was a manager at work and expected to wear suits/ smart clothes.
Anyway- after having another breakdown in 2015 (a bad one- I ended up in A&E after seriously suicidal thoughts and exhaustion) I decided that I would move out. It had never been discussed, and I was 36 at this point. My entire life was about what my mother wanted. The counsellors I had after my breakdown described it as domestic/emotional abuse.
So long story short- yes, I saved enough money over 10 years to buy a house outright, but my God it cost me a lot. And I wish I'd have moved out 20 years earlier and struggled.
I bought my detached house in 2015. On my own.
It was £153k.
I paid in cash.
All my own money- I didn't have (and refused) a penny from anyone. If that makes me sound smug and superior, read on.....
I'd lived all my life at home with my mother. She had chronic post-natal depression with me, so much so that my dad walked out, she had blamed me for it and since that age I had been the "man of the house" (I'm male BTW). I was never "allowed" to go on a holiday, buy clothes, even buy food for myself as it would send her into a depressed state. But I put up with it as it was all I'd ever known.
Had my first nervous breakdown at 17. Went to Uni (local as I wasn't "allowed" to move out) and got a job. After a few years I had a decent salary (£45k at one point, less now). I literally had no life though- no friends, nothing to spend money on (I remember buying a £4 kebab one night on my way back from work and mum crying as I had "no idea about money"- I was paying her rent and food costs, didn't sped any other money).
If I wanted clothes I was expected to buy them from a charity shop. I was a manager at work and expected to wear suits/ smart clothes.
Anyway- after having another breakdown in 2015 (a bad one- I ended up in A&E after seriously suicidal thoughts and exhaustion) I decided that I would move out. It had never been discussed, and I was 36 at this point. My entire life was about what my mother wanted. The counsellors I had after my breakdown described it as domestic/emotional abuse.
So long story short- yes, I saved enough money over 10 years to buy a house outright, but my God it cost me a lot. And I wish I'd have moved out 20 years earlier and struggled.
That is so sad to read, I’m really sorry that so much of your life was spent that way. But I’m really happy for you that you now have your own space that you own. I bet it feels amazing now to be free of that and able to do what you want to do, although I’m sure there are still scars. I hope your life going forward is much much happier x