Messugga
Honorary Master
Plus, the market is due for a turn, so probably looking at purchasing 18 months from now isn't a bad shout.
The credit score and deposit, as you say, will just need to be up to scratch.
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The credit score and deposit, as you say, will just need to be up to scratch.
Plan to start building the credit score asap. As for the deposit; yea not sure what it will be that’s needed. Will just save as much as possible over next two years.
Bane of my existence. After 6 months I could finally get a credit card and the first thing they do is dock your points by 18 because you opened a new account. ffs
You are bloody fortunate to have savings every month
I am?
We will have a fair amount - more than £500 each month. Doesn’t seem like much to me though.
We have negative 652 a month currently so yeah. In my case you are
Sorry to hear that. I hope things improve for you. And my “savings” is based on estimated costs we will have. So I might be worse off once we actually get there and settle.
Paul Kemp
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If I remember correctly you had kids in pre-school? It becomes easier as they get older.
That and rent. Living in a low rent spot wasn’t comfortable but allowed us to gather some momentum. For the first year here we lived on a single income and were still able to consistently put away more than we paid in rent.
We have a two year old and daycare is expensive. But as soon as he is of age to go to public school - that will help for sure.
If we can find a cheaper place to rent then even better. Definitely on the cards. It’s just the animals that can be a problem. So having the place now which high rent - helps solve immediate issues.
Out of interest, what is the rent for that place?
£2495
But it’s a huge place. Nice yard and detached.
But far more than we need right now. But it was this place or potentially be homeless lol
If I can find somewhere to rent for around £1800 that takes animals and is big enough. I’ll gladly do it once the tenancy is up for this place.
Sinbad
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I reckon you'll need 10-20% deposit to get a mortgage at a decent rate. It's a tough hill to climb which is why getting onto the housing ladder is so difficult for younger people.
I used my entire SA provident fund withdrawal together with the equity in our SA house, put down about 20%.
I used my entire SA provident fund withdrawal together with the equity in our SA house, put down about 20%.
Messugga
Honorary Master
10-20% depending on your salary, seems common for people new to the country. There are 1% deposit deals out there but qualifying criteria might be strict - I certainly don't qualify as someone without indefinite leave to remain
So what you're saying is that small farm in Lake District with a 5 bedroom barn conversion is just a pipe dream...oh well
Holy ****kkkkkk, thats basically my whole salary.£2495
But it’s a huge place. Nice yard and detached.
But far more than we need right now. But it was this place or potentially be homeless lol
If I can find somewhere to rent for around £1800 that takes animals and is big enough. I’ll gladly do it once the tenancy is up for this place.
Yeah dude, it's rough. But rather that then potentially having no where to send family and animals to in two months time.
This move is going to be kak expensive, too. But I am convinced it will be worth it in the end for our son and family. Might not seem like it now, because it's tough, stressful and lots of uncertainty.
You can even start looking a good 6months in to get a feel for the value of houses and areas. The process to buy a house averages something silly like 3 months from offer to getting the keys.
Yeah 10 to 20% is where we are thinking.
Sinbad
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I put down a holding deposit on a new build after 4 months in the country. We moved in at the end of month 6.
I had to put down 25% deposit, it hurt.