Originally Posted by xr2fatturbo
Ive been looking into mortgages and trying to learn all there is to know about them and what offers are out there.
I can't belive how much the repayments are on say a 100'000 mortgage!!! how can young people/couples afford em!??
Im 22 live a nice 2 bed flat with my bird and bought a new car in april which i still got just under 3 years to pay. Im trying hard to clear 6k credit card debt ive cut those up and have 1 loan left which will be cleared in 3 years time.
It seems saving up for a 10% deposit is the best way to go but i can't afford to save untill 3 years once the car has gone etc and i roughly work out ill be 28- 29 years old once ive saved up 20k and then i can afford to buy my first house. Does that seem to old??? or am i just worrying for nothing??
Im sure there are thousands of people in the same boat as me i wish house prices would fall!!!!!!!!!!!!
how can young people afford it ?
with the debt you've already got ,your probably already paying out more a month than a mortgage would cost.
other people can afford a mortgage because they are a bit more prudent with their money.i don't know your cicumstances mate but,it seems to me that you may have been living beyond your means,
the last thing you need is somebody preaching to you but i think you're gonna have to shift some debt before getting some more