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Over 35's - Whats Your House & Working Status


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council dweller...

Income 5k per year, wife on 15k. We live on 10k so save 10k.

We're waiting for the right moment to do RTB.

I say to anyone thinking of getting a council house to forget it. By the time you get one they'll be no better than private rental.... well, rents will be a lot higher than at present and tenure a lot worse anyway.

PS, have I got the lowest income or what?

No offence but it's a relief to see somebody not earning squillions on here. I definitely think these people are top 0.001%... and I can only hope to have a fraction of this in future.

EDIT: It does seem that most high salaries are linked to finance/IT/contracting/sales. I'm buggered then!

Edited by guitarman001
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Joint income of £66k, which is about £30k down on 2008 and I'd love to say we're not working as hard but we are :(

We have about £130k left to pay on our mortgage which is being over paid at a rate of £19k per year.

Recently had the house valued at £230k which is what we paid in 2007, but we wouldn't sell at that price, we've poured £50k into improving it, that combined with the fact that we'd now only be offered a mortgage for £240k which sellers in the next bracket up are after £400k and getting it. Bloody mexican stand off here.

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Am 38, single income of £45k. Have a final salary pension that I pour additional contributions into. Savings from salary and inheritance are tied up for fixed terms.

Renting a property that would be marketed at well over 500k - not that anything is selling here- for £1100 a month. No significant debt, couple of hundred on my credit cards.

Looking at friends who are now in Neg Eq., I'm pretty happy with my own situation. Might buy for cash but that is at least 5 years away. Concentrating on career at moment, which may force a relocation.

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Am 38, single income of £45k. Have a final salary pension that I pour additional contributions into.

Can I have your phone number? :lol::lol:

Seriously if you are gonna move for work, you would not want to be selling a property at the moment! ;)

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Can I have your phone number? :lol::lol:

Seriously if you are gonna move for work, you would not want to be selling a property at the moment! ;)

Hmmm, a tempting offer....

That's why I never bought in at the peak of idiocy here....a friend earning less than me told me 'I'd NEVER be able to afford to buy' if I didn't get 'on the ladder' when he did (i.e. the peak). He has knocked 50k off his flat and can't shift it. 4 more on his small street, all the same size, not selling, just a race to the bottom. Meanwhile, I am living in a massive place in a prime location. If I need to move, I can be out of here in 4 weeks and onto the next place. Its not in my interests to buy for the next 5 to 7 years, due to work - I'll need to take a few job moves to get to where I want in my field. No kids, so no need for a garden and a white picket fence etc.

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am 46 earn 60k as academic (prof) wife not working two teenage kids. we are still crammed into small three bed terrace that i bought for 56k in 1995, mortage now paid off. still waiting for this dam crash so i can move to a house with garden and and now needing solution to the problem of aging parent to care fore. i have no debt but i have to watch as govt bails out feckless idiots with huge mortgages.

recently had EA round to value house and was treated to tales of said idiots who now cannot even afford to heat their houses but will not sell house for "less than its worth..."

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recently had EA round to value house and was treated to tales of said idiots who now cannot even afford to heat their houses but will not sell house for "less than its worth..."

Oh crikey! :blink:

If they don't try t sell now it might really cost them! :o

Edited by MrPin
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Hmmm, a tempting offer....

No kids, so no need for a garden and a white picket fence etc.

Yes! You always need somewhere to bury them when they are naughty! :blink:

Are you a serial killer too?

You know I think we would get on! :huh:

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I'm 36 living with parents in Milton Keynes in order to save a deposit, single, no kids, commute to London where I work in web / multimedia for a University, earn 33k + final salary pension, I'm saving around £900 per month with 5k savings in the bank. I enjoy my job and it's as safe as a job can be these days (touch wood), and if all goes to plan I expect my salary to rise to 40k + inflation over the next five years or so.

I'll be an FTB when I finally buy a place, probably in MK as I've had my fill of living in London ghettos. I'm just waiting for my savings to grow and prices to fall, hoping that I can get good value in 18 months to two years. If not I'll just keep on saving. My parents have owned several BTLs over the last ten years and made substantial profits, they have two BTLs, their own property, and a half share in an inherited property, oh the irony!

Edited by monstermunch
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34 staying at home. Earnings of roughly 100k per annum at present. Although I do not think it is gonna last. Making hay whilst the sun shines and all.

Doh - wrong thread. :D

Edited by ccc
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Myself & missus both 30 next year, no kids 1 cat

Renting a flat

Combined income of 35K, jobs we hate, pretty much no scope for improvement

Savings of 48K which will definitely not be used as a deposit on a house. Kept in GBP ISAs, will no doubt be inflated away within next couple of years - couldn't give a damn any more, nothing worth buying with it anyway.

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34 staying at home. Earnings of roughly 100k per annum at present. Although I do not think it is gonna last. Making hay whilst the sun shines and all.

Doh - wrong thread. :D

Christ! You make that sorting out spreadsheets!

Make hay indeed for the sun may not shine much longer! :huh:

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Christ! You make that sorting out spreadsheets!

Make hay indeed for the sun may not shine much longer! :huh:

My current role - I am more of a secretary. :lol:

Not kidding. I am aware of the situation though. Got to take advantage of this stuff when it appears. Plan to maybe buy a house in cash in 2 years or so. Well that is as long as the entire system has not collapsed by then. Who knows. Just having a laugh as I may not be around tomorrow. Life is about fun.

Although last nights fun is certainly not much fun today. Bevvy is evil. But I quite like it. :ph34r:

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If you lose your job, you will almost certainly be able to claim tax credits if your partner only gets 10K. Try and dispose of majority of savings before that point (pay off debt or mortgage), as you may want to claim jobseekers allowance as well. And remember - you pay plenty of taxes and national insurance if in work - don't be ashamed to claim some back.

Thanks Trampa .. have thought about that .. buit I fear the freebies will probably run out when I need them ..

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My current role - I am more of a secretary. :lol:

Well that's good! Seriously if you have a good ride, then ride it out!

At least you are an optimist! ;)

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Myself & missus both 30 next year, no kids 1 cat

Renting a flat

Combined income of 35K, jobs we hate, pretty much no scope for improvement

Savings of 48K which will definitely not be used as a deposit on a house. Kept in GBP ISAs, will no doubt be inflated away within next couple of years - couldn't give a damn any more, nothing worth buying with it anyway.

Aw! You wouldn't do that fot your cat? :huh:

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Well that's good! Seriously if you have a good ride, then ride it out!

At least you are an optimist! ;)

What will be will be. Cest La Vie. And all the rest of that German chat.

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Am 38, single income of £45k. Have a final salary pension that I pour additional contributions into. Savings from salary and inheritance are tied up for fixed terms.

Renting a property that would be marketed at well over 500k - not that anything is selling here- for £1100 a month. No significant debt, couple of hundred on my credit cards.

Looking at friends who are now in Neg Eq., I'm pretty happy with my own situation. Might buy for cash but that is at least 5 years away. Concentrating on career at moment, which may force a relocation.

£1,100/month is a good deal on a £500k property but is a hell of a scalping out out of a £45k salary.

I'm guessing it must be costing you about 43% of your net income?

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36, renting a garden flat in central London for £1k a month. £200k or thereabouts in savings, mostly cash though some ISA and NS&I. Bit of physical gold, some artwork, and some bank shares bought during the crash. Put £55k in my pension 2 years ago purely to deny Cyclops his 50% cut. Above average salary, but little job satisfaction. I have been saving since about 2001, while still having fun/lots of travel. No debt.

As with Nomadd in a previous post, work in IT in Banking, though am permie. Do not have problem with 'evil bankers', moaning about things doesn't change them. Either find ways within what the world throws you to make the best of things, or it's just too depressing to consider.

Dunno, just not really fussed about owning a place in London, likely moving on. Considering moving to Japan or Canada for a few years, or returning to Glasgow and buying somewhere for cash while I write a novel. :D

Some interesting situations on this thread!

Edited by stillill
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