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First Time Buyer Advice - Example Of The Brainwashed On The Web

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Football website I used to post on - until I got banned for being seriously offensive against an opposing football team's manager - another story !!

Anyway - I think this just shows what some people think - even these days.

Many people still think that borrowing as much as you can and going for some of the World's biggest scams - ie shared equity - is the way forward.

I honestly thought by now people would have worked it out. Clearly not. There are a few who clearly appreciate flexibility and all - however many still think mega debt = great.

http://www.hmfckickback.co.uk/index.php?/topic/75480-first-time-buyers-advice/

PS - poster #13 was an HPC troll. ;)

"Look up Cala Homes, Miller Homes, Taylor Wimpey and Red Row.

They will give you an interest free loan of 20% of the property cost for 10 years. Throw in as little as 5% yourself, and your on the ladder. "

"my only regret was not borrowing the maximum amount the lender was offering me.I paid £39,000 for an upper villa but could have bought a far bigger house had i borrowed the £53,000 that was offered.Dont be scared to borrow the maximum amount you are offered.

2 bedroom apartment - £169,000."

"Shared equity is definitely the way to go for the OP.

Fabulous 2 bedroom new build down Restalrig way. She wouldnt have been able to do it without a shared equity deal (The local government one) Her deposit was around the 5k mark "

"There is a new scheme that seems to be targeted at first time buyers with your problem, it is Called " Rent to Buy " the landlord that has properties in this scheme allows the renter to rent the house for an initial period you agree a price to buy the house/flat at the begining of the contract you initially rent the flat at an agreed price, you then overpay the rent for an agreed price until you have built up your deposit, the house/flat is then sold to you with the landlord gifting you the deposit that you have already paid.

Take on their offer of 20% Shared Equity - means they give you £33,800 towards your mortgage deposit."

Edited by ccc

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Anyway - I think this just shows what some people think - even these days.

Many people still think that borrowing as much as you can and going for some of the World's biggest scams - ie shared equity - is the way forward.

I honestly thought by now people would have worked it out. Clearly not. There are a few who clearly appreciate flexibility and all - however many still think mega debt = great.

...and they probably feel grateful towards the mortgage adviser who "helped" them.

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Shared ownershipp

On the ladder.

Yeah.

Hanging on to it with the tip of one finger, which is painful, short, and will most likely end in bloodshed.

shared ownership = on half a ladder

ie hanging on to a stick with some dowels stuck in it

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OP:

My question is most mortgage lenders look for 10% deposit right so roughly 10,000 grand which scares me a bit

So, having 10k in savings 'scares' the lamb to the slaughter, but having over 150k in debt doesnt?

The force is strong in this one. Guess theyve been in a comatose state since 2007.

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Many people still think that borrowing as much as you can and going for some of the World's biggest scams - ie shared equity - is the way forward.

I honestly thought by now people would have worked it out. Clearly not. There are a few who clearly appreciate flexibility and all - however many still think mega debt = great.

...depressing reality snipped...

Slave mentality the lot of it.

Thank you for the extra potato peelings tonight mastah...

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OP:

My question is most mortgage lenders look for 10% deposit right so roughly 10,000 grand which scares me a bit

So, having 10k in savings 'scares' the lamb to the slaughter, but having over 150k in debt doesnt?

The force is strong in this one. Guess theyve been in a comatose state since 2007.

That was the first thing that I thought of too. Pure mentalness.

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Latest reply:

I'm currently saving up for a place. Putting a fair bit away each month but will still take another 12 months at least to get together a reasonable deposit (£10-£12k).

I'm looking at a one bedroom flat in an area like Dalry, Polworth or possibly even somewhere in Leith! Luckily my Dad is a tradesman and can help in getting it kitted out.

Wish I did this a few years ago rather than pissing all my cash down the drain...!

------------------------------------------------------------------------------------------------------------------------

Well in the areas he mentions a one bed flat a few years ago would have cost 120-130k. Today you have your choice of the same places at 85-105k.

So the pissing cash down the drown angle is...:rolleyes:

Brainwashing. Pure and simple. I don't accept for a second so many people are just so simple.

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  • 145 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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