jimtrish

just wondered, as so many lucky peeps have a house to sell to help them on their way. we dont and are sticking rigidly to our plan of what we can pay into savings each month.
anyone in the same boat?
trish

leedslad

I'm in the same boat, except i don't have any savings.

I'll have my car sale money and the clothes on my back.

good luck with your plans

matt-and-jenny

We saved about 5 grand GBP over a couple of years. We saved by living with my folks for a while, but were also pretty disciplined with our budget and put a bit aide each month. I got a job after a week so hopefully we won't have to use much of it and can put it towards a house deposit. I reckon the amount you bring depends on how soon you want a house.

jimtrish

we are being really careful with our dosh, although we are in cornwall for a long weekend next weekend and plan to have a good time as its our only holiday this year!
we reckon to have about £10,000 if were really good. we will rent initially anyway, and i have a job to go to which alleviates the pressure abit.
jims parents live in a one bed house and my mum is living with my sister in law, otherwise we would have gone this route too.
just 'splashed' out and bought myself a little didgeridoo on ebay...well i have to have some fun dont i!

tiredwithtwins

yep, we will have whatever we manage to save in the next 12 months....we have tried to aim for at least £10k.......

we were going to buy our council house, but our bank "dont do right to buy love"....cheers Halifax, and how much exactly have you made out of us over the years!!?

So, back to selling as much as i can on ebay!!!!


sue

Carruss

If you have the right to buy your council house then buy it. You will get it at a cheaper rate and in 12 months sell it for surely a profit (depending you live in a nice area that is!). Even with Capital Gains Tax you should make a tidy profit.

If not are there any close relatives that can buy it on your behalf either for themselves or for you to let out and still make money.

We just missed out on being able to buy ours by six months and were really p*ssed off about it. Although the @rsehole politicians keep on saying that they may reverse this and allow people to buy again. Not now the elections over with though eh!

R.

tiredwithtwins

hiya........its the mortgage thats the prob......dont really want to say any more.
the council here have a 3 year clause before you can sell it on without paying back the discount....plus the value has just shot up cos the houses are being modernised big style!!

Carruss

Fair play!

R.

jimtrish

we went to buy ours a few years ago, and then the surveyors decided the house was subsiding! so no buy!! they are valued at £135,000 and we could have bought it for £60,000. So now we sit and wait and still pay full rent and see if they want to move us before we move, they will give us 4k compensation, so havent told them of our oz plans.
our council work the same as yours too, you would have to keep it for 3yrs, but its a no go for us, unless they give us a house pronto that we could then buy and sell in 3yrs... doubt thats going to happen, think they all work with tinkywinky and his gang....only one pace.....very slow
Trish

tiredwithtwins

hehe....blimey - £135k!? Ours is valued pre-modernised at about £30k!! the modernising takes it up to about £50k, so we would get it with about a 38% discount. just renting is dead money, which is what galls us!!
my sister in law was rehoused....they got the £4k comp, plus about £200 to redecorate cos the place they moved too was trashed.

should we put our tin hats on for the flack we might get about wanting to buy our council house?

sue

jimtrish

dont know if youre in the same boat as us, but its prob the only chance people like us would be able to afford to buy our own place, and now thats been taken away.
apparantly they shouldnt have put us in here in the first place, weve been here over 4yrs now.
we were supposed to get new kitchens, bathrooms etc, but due to our house travelling east, they have bothered, but we do have central heating which i expect they are miffed about as weve had it 2yrs now.
our neighbours moved out 8wks ago, after months of badgering them, but i cant be bothered, they will move us if and when..
but what has annoyed me is, my neighbours are now in the throws of buying their new place!
hard slog for us lot saving for oz

pako

We don't..we'll be leaving with £25K-£28K of hard earned savings! Its nearly killed us getting the money together. We've wanted to buy a house for so long, but we live in London and its so expensive to buy in a good area. We're very much looking forward to buying as soon as we can once we're in Oz!

Katep

We don't have a house to sell, we are trying to save as much as possible too, we seem to be doing ok so far, got about another 12 months to save aswell. So hopefully will be able to get a nice house when we get there providing we are lucky with finding work.

jimtrish

blimey, makes our £10k look daft. fair play though.
we will settle in for 6mths-a year and then hope to buy once we know which areas suit our needs.
goodluck with all your plans

Phil-UK

Strange ! We bought our house from the council on 'Right to Buy' with the Halifax. I'd check again and make sure the person who told you that wasn't telling porkies, cos we have a mortgage with Halifax.

They even lent us more than the purchase price of the property because I wanted a few extra grand for home improvements. Purchase price was £31K after discount and we borrowed £35K no problem.

I'd query this If I were you. Another point is you don't have to wait 3 years to sell if you didn't want to. The discount is reduced by 1/3 each year you own it, so if you didn't want to pay back anything, then yes, you have to wait 3 years, but you would still make money even if you sell it after 1 year, as you would only have to pay back 2/3 of the discount or 1/3 after keeping it for 2 years. Just a thought.