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  1. I no longer have the article in front of me, so forgive me if the exact details are incorrect. I was astounded to read in the Evening Standard tonight, a question from a reader about buying houses. The question was something along the lines of: I have bought a new build for around £175K and am due to complete in Jan 2010. I am told that something called the 'stamp duty holiday' ends at the end of this year. What's stamp duty??? Honestly... what the heck are these people on??? How can someone who has done so little research into buying a house part with going on for £200K? I honestly could not sleep at night if that were me.
  2. This suprises me - I live in Swindon and have seen big drops in property prices over the last 12 months. Last June, 2 bed flat = £120K. Now? 2 bed house could be bought for £90-95K, much less in the not so nice areas. New builds haven't dropped in price and I don't know a single person who would consider buying one. Friend bought a new build in Dec 07, interest only mortgage, now is in NE. Have tracked many houses not selling for months on Right Move. Local radio is flooded with ads for new build developements and the 'incentives' being offered by the builders (match your 5% deposit, pay your utility bills, 30% interest free loan, free furniture etc etc), although to be fair, not Persimmon. I wonder if this means I should buy before it's too late?
  3. I'm not moaning that I can't afford to buy a house. I didn't spend my 20's pi$$ing away my money - I spent it paying off £13K in debt from uni when I was earning between £12.5K (on graduation) and £30K (late twenties). I've been promoted 3 times in 3 years and now find myself in a position where I can save a lot of money. I know I will be able to buy pretty soon in the future, if I wanted to. The point of my post was that there are people on here who are of the opinion that mortgage debt is to be avoided at all costs. Now, there are a lot of very clever people on here and I take their opinions very seriously - my question therefore is basically, if you can't buy with a very large deposit (which I may never have), should I be thinking of buying at all?
  4. That's what I was hoping - but part of me is worried (I can't believe I'm admitting this on hpc) that a lot of other FTBs have a similar deposit to me and are going to buy sooner rather than later; meaning that prices are going to start going up again and I'm going to miss out!!
  5. WHY ARE SO MANY PEOPLE ASSUMING I'M A BLOKE???? I'M A GIRL!!!! Other than that, thanks for all the advice!
  6. Not sure why 'if I've just paid off my uni grad load' then I'm pretty young? I earned £12.5K in my first job after uni, so it took a while - and it wasn't just my uni loan - I also had an overdraft and credit card. I was 30 late last year. Travelling hasn't ever really interested me, so I wouldn't spend a lot of money on that. That being said, I am about to visit relatives in Australia next month. I wouldn't have the first idea of what country to emigrate to - they all seem to have pros and cons!!!
  7. I can't comment. I'm still annoyed at being told I'm after 'instant gratification'.
  8. Umm.... I'd hardly call it instant gratification. I've been paying off university (not what I would call frivolous) debt and saving for a total of 8 years - not running up huge credit card and loan debts like some of my peers. Or buying a house on a 125% mortgage.
  9. Thanks very much for your help everyone!! I like where I live, so emigrating so far hasn't been an option, and unlike some of my peers I'm not prepared to settle for the wrong guy just so that I can lose the 'single' tag and afford to buy somewhere. Prices where I live are coming down - 2 bed terrace is currently in the region of £100K so I could get a mortgage for enough (I'm paid around £30K). It's just that people on here talk a lot of sense so whereas before I never thought I'd ever be able to buy a house, now I don't want to buy one with just a 10% deposit!!! Guess I'll just keep saving as much as I can and wait it out as long as I can. Thanks again!
  10. I'm in my very early thirties. I had £13K debt from uni so basically spent my 20's (while I was on a rubbish salary) paying that back and am now in a house share keeping my expenses as low as possible while I save as much as possible towards a deposit.
  11. I'm an I.T. Manager for a national retailer.
  12. I've read several posts on here lately about people with their ~ £50K deposits and how they want a lot more before they buy a house; Mortgage debt is bad and you shouldn't land yourself with it under any circumstances etc etc. I'm a single girl who not long ago paid off her debts from Uni. I have managed to save £7,500 in 9 months, although I'm not sure that I could sustain saving at this rate. Recently, I've started to feel very inadequate with my £7.5K (previously I was feeling pretty good about it!) So, if you guys with your tens and tens of thousands still aren't sure that you're ever going to buy, what hope is there for me and my £7.5K??? Should I just prepare instead for a lifetime of renting???
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