It seems impossible to get any kind of Mortgage with less than a 10% deposit and living and working near London doesn't help. Currently I have £16,000 saved but most properties are starting around £190,000 (Have to have two bedrooms as we have 2 kids). My rent is going up yet again next year so saving any more is going to be a long slow process.
In the short term it would be expensive but a £180,000 Mortgage would be a good £300 a month cheaper than what I'm currently paying in rent. I'm just sick of being shafted by landlords and its so frustrating as I know I can pay back a big mortgage as I'm paying more than that in rent right now. :mad:
Any advice of how to get on the property ladder in my current situation would be really appreciated, I feel so close in terms of deposit just not close enough especially when you take fees into account. (btw before anyone mentions it money from parents is not an option).
In the short term it would be expensive but a £180,000 Mortgage would be a good £300 a month cheaper than what I'm currently paying in rent. I'm just sick of being shafted by landlords and its so frustrating as I know I can pay back a big mortgage as I'm paying more than that in rent right now. :mad:
Any advice of how to get on the property ladder in my current situation would be really appreciated, I feel so close in terms of deposit just not close enough especially when you take fees into account. (btw before anyone mentions it money from parents is not an option).