How do I get a mortgage in the current climate?
This isn’t meant to be an informative article, or indeed one that requires a response. I just feel that I needed to rant about it, so here goes.
How on earth is anyone supposed to get a mortgage for the first time in this current climate? Where I live in Hampshire, you need about £200,000 for a shitty little mid-terrace two bed place with no garden whatsoever. Just say that my wife and I could actually afford to pay that kind of mortgage, at the moment I would need a 30% deposit in order to secure that.
Now I’m not a mathematician but that’s £60 fucking thousand pounds!!! There just can’t be many people with that kind of cash to spunk on a deposit can there? My wife and I both earn reasonable amounts but we’re never going to get that kind of money together.
In fact, if we scrimped and saved every single spare penny we have, it would probably take us 10-12 years with no life whatsoever to get that money together. What a shitty situation to be in!
I’d love to hold my head high and carry my beautiful wife over the threshold of our first home together sometime this century but it’s clear that it just isn’t going to happen and that is bloody depressing.
We could probably get a one bed flat for around £140,000 but that’s no good when you’re planning to have kids in the near future. We’d be stuck there for ten years with our first born living on the sofa. Something has just got to give surely?
Either the house prices must come down to accommodate people like us, or the banks must ask for less deposit. How will people ever get on the ladder otherwise? There’s always the bank of mum and dad of course but they aren’t going to want to give me £60,000 when they’re looking at retirement in three or four years.
It’s sodding depressing for a thirty-something at the moment trying to make their way in the world.
So…if someone reading this blog could please leave the winning lottery numbers in the comments field, that would be lovely. Thanks.
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