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Does Anyone Know A Recent Ftb

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Is anyone here an FTB that has bought in the last year, but only using money that cannot be linked back to the currently high house prices ?

let's say parents' help rules you out (assuming they're not renting), cos they've either re-mortgaged or are feeling rich now they own an expensive house)...

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Is anyone here an FTB that has bought in the last year, but only using money that cannot be linked back to the currently high house prices ?

let's say parents' help rules you out (assuming they're not renting), cos they've either re-mortgaged or are feeling rich now they own an expensive house)...

Nope, but i know at least 3 over the past 2 years with substantial cash help - one with 70k savings (i.e. rich dad) plus 30k gift. The only other person i know who has bought did self cert but he does run a business so can probably afford the additional interest they incur.

Until you asked the question, i didn't really realise that NO ONE i know has bought on a regular mortgage without outside help for the last 4-5 years.

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The last FTB that I personally know bought around 3 years ago (late '02) for £75k on a 100% mortgage, since then he 'withdrew' £10k in late '03 to tart the place up, recently sold and changed flats (sold for £110k and bought next one for £125k) - now harps on about how much equity he made on old flat and is currently throwing money around like confetti. A bit confusing in my eyes as the newer flat was more expensive so surely the equity 'made' should be back into the new flat with a smaller mortgage... He's currently persuading me to "get on the ladder" and literally laughs at me for saying now is hugely risky time to buy!

The rest of my friends are in a very similar situation to me and refuse to throw money away and scrape a living trying to service an insane mortgage on a shitbox.

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Is anyone here an FTB that has bought in the last year, but only using money that cannot be linked back to the currently high house prices ?

let's say parents' help rules you out (assuming they're not renting), cos they've either re-mortgaged or are feeling rich now they own an expensive house)...

One couple who are friends bought a house last year.

However, they have a combined income of about £60k, and they bought a modest terraced house in a reasonable (but not too special) area.

No-one else I know could possibly afford to buy anything other than a decrepit 1 bed flat. It would cost us 20% more than our rent to buy a comparable property.

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I do know one. Doesn't feel rich, just desperately wanted a home. Saved for years and did have a bit of help from family, not of the rich daddy type, rather scrapping around loving relatives. Bought last year and probably already in negative equity but she will also probably be alright if she locks her interest rate in and treats it as a home. But it is upsetting. According to one of my friends who watched the last crash from a rental situation, the people who lost out were the people who lost their income and the people whose nerves were too shot to continue.

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Simply, Nope.

Not a sausage. Nada. Zilch. No one I know who hasnt had help.

so far I count two real FTBs on a poll of 600 people (views), each of whom know, let's say, 100 people. This is 0.003 %, not the 8 % I have been led to believe.

anyone else ?

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Is anyone here an FTB that has bought in the last year, but only using money that cannot be linked back to the currently high house prices ?

let's say parents' help rules you out (assuming they're not renting), cos they've either re-mortgaged or are feeling rich now they own an expensive house)...

My brother bought a 3 bed terrace last year for £80k. It was a bit of a wreck, but the roof, plumbing and electrics had been done recently. He spent £20k doing it up, and sold it for £155k.

This isn't a joke. But my brother is a genuinely smart and hard-working guy (he's an engineer by day) who can smell the money (not bad for a 25 year old).

To be honest I don't know how the hell he did it. Every property around it was selling for £130k+ at the time.

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so far I count two real FTBs on a poll of 600 people (views), each of whom know, let's say, 100 people. This is 0.003 %, not the 8 % I have been led to believe.

anyone else ?

I know 2 FTB's who have purchased recently (both moved in about a month ago).

One, a couple, got the girlfriends inheritence early (i.e. parents gave them the money) to the tune of £60K both of them are on what I would consider an avergage wage, if not below. 2 Bed flat which cost £160K so a mortgage of around £100K which is right at the top of their budget.

The other a single male, who is a Policeman. Not sure of the exact details but I think he got close to a £70k loan with very good conditions. I think the 1 bed flat was something like £150K

So in other words no.

I'd imagine this 8% figure for FTB's is nationwide, I'd be suprised if in the South East and London (where I am) it's not a whole lot less than that.

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My brother bought a 3 bed terrace last year for £80k. It was a bit of a wreck, but the roof, plumbing and electrics had been done recently. He spent £20k doing it up, and sold it for £155k.

This isn't a joke. But my brother is a genuinely smart and hard-working guy (he's an engineer by day) who can smell the money (not bad for a 25 year old).

To be honest I don't know how the hell he did it. Every property around it was selling for £130k+ at the time.

A friend of my son recently bought a flat with no help whatsoever. I don't know exactly how much he paid, but I would suspect it was about £175k. He is 25.

Edited by Casual Observer

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Is anyone here an FTB that has bought in the last year, but only using money that cannot be linked back to the currently high house prices ?

If I was a FTB that had bought in the last year, I doubt I'd be spending much time on this site!

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A friend of my son recently bought a flat with no help whatsoever. I don't know exactrly how much he paid, but I would suspect it was about £175k.

I know plenty of people who can afford to buy - they just aren't stupid enough to actually do it. Deep down they know that earning £60k+ should allow them to buy more than a 1 bed flat in a place where the average person living there earns £20k.

We have fantastic social mobility. Unfortunately, it's in the wrong direction.

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My elder brother is a property bull - he even started up one of those property investment groups a while ago.

He recently talked a young lad in his barbers into:

Negotiating a 30k discount on a new flat

Taking out a 150k mortgage

And buying!

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Er...me....except I havent bought yet.

The savings I and my girlfriend have built up have been accumulated through being pretty boring with our money for the last 5 years. (no voyages of self-discovery around the world, no cars etc).

She lived with her parents for a couple of years after university which allowed her to save more dosh but I wouldn't call that a 'gift', or wealth inherited from the house boom.

I do admit though that if we really 'needed' it we could probably get £20K from parents but neither of us want to do that...we have enough for a deposit ourselves.

I would only want to borrow from parents when it is an absolute emergency.

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Ooh, i forgot one proper FTB i know - my work mate saved up for about 5 years (now 28) not going out, living at home etc etc to save 20-25k deposit and bought just before the peak last may/june time for 180k.

Now our company is relocating and he's refusing to move house because he's just settled and so will have to commute 2-3hrs each way, he's not a happy bunny at all now! I warned him before he bought a number of times that prices can't stay at that level for long but unfortunately between my old boss (who for some reason is bullish on property and a solcialist! but otherwise an intelligent guy) and his parents they managed to convince him he couldn't lose on property.

Now, i don't know if it was just the fact that i saw how much money my mum had to reduce our house by in the mid 90's when trying sell (85 down to 60 now similar on the market for 220!!! - farnham surrey) which seemed like a lot of money at the time, but i just think that so many people who are going to be burned can't seem to take to get their head around reducing prices, if he sold now he'd have lost about 15-20k - maybe they deserve it for thinking they know better - hmmm we'll see i suppose.

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I know very few FTB's. Most of the people I know rent.

The one FTB I do know, again didnt borrow money from parents but they have been very careful in buying somewhere they knew was affordable.

Although they bought at the worst possible time (summer, 04) they went for a modest 1-bed flat in a new-build.

HOWEVER, of the people I know (my age) who have bought in the last 2 years.

1) Two brothers, whose parents bought them a 4 bed house in Oval 18 months ago. Parents paid in full for it and re-mortgaged their own house.

They've made zilch on the house but at least the 2 sons are paying their own family's mortgage.

2) Very rich friend who decided last summer that it was time to become a BTL landlord! His family are so loaded that he can afford to make a mistake or two.

They have made their money through private business and investements such as housing.

3) Colleague who was able to trade up because he was a FTB in the late 90s and made dosh on the equity.

Edited by DonnieDarker

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My tenants quit in December and bought a bungie together.

They were both divorced and pooled their "winnings" from

the two marriages.

They bought at the worst possible time during this housing

cycle and I reckon their bungie has dropped by 10-15%

since January.

I sold up and still have the cash.

I suppose they are not strictly FTBs, having had property

previously.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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