I wish I'd bought earlier.
At 18, I was still at college! No way could I have got a mortgage on my lack of deposit, or paltry part time income.
(Bear Pookie The Frankly Challenged. Halloween is coming to town., Mon 25 Jun 2012, 12:14, 3 replies, latest was 13 years ago)

Swipey had been saving up her paper round money to afford the deposit.

( Bartleby A dead man on vacation, Mon 25 Jun 2012, 12:16, Reply)

Plus it was the Frozen North
where you can buy a flat for sixty quid and a packet of biscuits.
( Kroney, Mon 25 Jun 2012, 12:17, Reply)

Not cheshire though, they have special southern prices.

( Bartleby A dead man on vacation, Mon 25 Jun 2012, 12:18, Reply)

Cheshire is for Mancs who've made some money,
from used cars, massive drugs or crime in general.
(Bear Pookie The Frankly Challenged. Halloween is coming to town., Mon 25 Jun 2012, 12:22, Reply)

my dad was a banker
which one of those applies?
( rachelswipe with a fork, Mon 25 Jun 2012, 12:28, Reply)

The latter

( tangledupinblue hairy badge with moving eyes, Mon 25 Jun 2012, 12:29, Reply)

Possibly the third one?
Was going to say morning, but it's afternoon now.
(Bear Pookie The Frankly Challenged. Halloween is coming to town., Mon 25 Jun 2012, 12:29, Reply)

Crime in general obv.

( Peej, Mon 25 Jun 2012, 12:29, Reply)

Where do I fall in that?

( Agnostic Antichrist Baltimora, Mon 25 Jun 2012, 12:41, Reply)

Macclesfield doesn't count.
Apart from the mighty Macc Lads of course. How's you anyway?
(Bear Pookie The Frankly Challenged. Halloween is coming to town., Mon 25 Jun 2012, 12:50, Reply)

Not too bad thanks fella, just wish it was payday today, rather than tomorrow
Got an expensive month coming up, so I've got to be a bit careful, looks like I'm on jacket potatoes for lunch every day!
( Agnostic Antichrist Baltimora, Mon 25 Jun 2012, 12:57, Reply)

I couldn't afford to until I'd started working here
Saved up for a deposit and bought a flat
( sporters I’m sincerely gratitude to you, Mon 25 Jun 2012, 12:17, Reply)

the c&g were lending to 18 year olds at the time; bet they aren't now
i got a student loan to pay for the deposit, then got my dad to stand as guarantor. job done.

it wouldn't work now, though, because rents haven't really changed since 1996, whereas house prices have gone up massively. so i paid about £42,000 and the mortgage was about £310 a month. but the rent was £700 a month. which was a nice extra profit for me at uni. i then sold it in 2000 for £102,000, but the rent was still only £700 a month.

now it's probably worth about £130,000 - but the rent is only £650 a month.
( rachelswipe with a fork, Mon 25 Jun 2012, 12:27, Reply)

Rent has gone up massively in Cornwall since 1996
We rented a 3 bed house for £275 a month same house is now £650. My flat after finishing uni in 2002 was £75 a week split between two of us its now double that.
( Peej, Mon 25 Jun 2012, 12:29, Reply)

maybe areas that are popular with tourists are different?
i know what i get for the holiday home in cornwall is ten times more during the summer than during the winter, for example.

my dad has his beady eye on a penthouse in cornwall where the owner ran out of cash, so it's being sold by LPA receivers. i forget the figures, but say they want £300k. he put in a silly cash offer at £150k. they said no. he said, well, you know where i am. it's now on the market at about £190k and they are pestering him to meet in the middle. a sign of worrying times for home owners with high mortgages, i think. also the economist/actuarial ex is adamant that all the signs point to a housing market crash. eek.
( rachelswipe with a fork, Mon 25 Jun 2012, 12:37, Reply)

This recession has a good 5 years left to run
we are being told by our actuaries.
(Set your faces to Stunned Bigly, Mon 25 Jun 2012, 12:41, Reply)

\o/

( Naked Ape call me Caitlyn, Mon 25 Jun 2012, 12:45, Reply)

Unless there's a housing market crash
I'm unlikely to be able to buy a place this decade.
( Kroney, Mon 25 Jun 2012, 12:43, Reply)