Do you rent or have you bought your house??

[jennywren]

You need to speak to a mortgage man at the bank. There are different options for first time buyers. House prices are falling as nothing is selling. I would get an agreement in principal to start with then wait 6 months and see what is happening to houses in your area.

Alot of places are only giving AIPs for max of 6 months right now, because the market can change so much in that time let alone 6 months, but at least if you have AIP you know roughly what you can get. If you go and see a broker instead of an individual lender then you will get a wider scope

DH and I are "planning" to put our house on the market in Sept (after baby is born) hopefully get asking price as we are low end of the market and had people that are downsizing already interested in it. Then going to move in with my mum and keep an eye on the house prices and hopefully should be able to get something for 20k less than the asking price at the moment in a better area.

Excellent idea at the moment![/b]

 

[purple13]

we got a bit lucky with our 1 bed flat. even with property prices falling we'd still make quite a lot of money if we sold it now...

we want to move to a house outside london but have decided to hold on til our mortgage ends next september - then the hope is that we'll be able to afford somewhere a lot bigger cos of the decrease in housing costs, and keep our flat on on a buy to let mortgage. fingers crossed anyway

 

[poppy160]

We rent, £550 a month for a 2 bed flat not including bills. We're desperate to buy, but the price for a decent 2 bed house down here is £150,000+. I have a bad credit rating and nobody will give us a mortgage if we do a joint application. My OH has a very well paid job but can't get anything on his wage despite us having enough to put down a good deposit.
We've signed up with www.home2own.org.uk (I think that's the address) and we're waiting for a property to come up for shared ownership. Good thing we love the flat we're in at the moment.

 

[mary70]

we are buying ours in s13 and we pay £439 a month for a 3 bed and that includes insurance

 

[NIE]

We had to buy a house as we couldn't get a council house. I refused to waste money on private rent when a mortgage was cheaper. (at the time)

I bought my house for £55k, 5 years ago and is now worth £120k (just had it valued)

My mortgage was £250 per month for the first 2 years and increased to £300 a month until 2010. (borrowed £49k over 25 years.)

That's not including insurances for a 3 bed terranced house in Scotland. x